Martin “Marty” Evans Reportedly Suspended for Allegations of Impersonating Clients
The Financial Industry Regulatory Authority has reportedly suspended and fined a former Ameriprise broker, Martin “Marty” Evans who allegedly impersonated customers trying to obtain their account information, according to an article in Financial Advisor IQ.
According to a Letter of Acceptance, Waiver and Consent (AWC), the firm that he was registered with from 2009 until 2019, “Firm A”, filed an amended Form U5 termination notice on July 11, disclosing that its internal review concluded that Evans had purportedly impersonated clients.
Six days later, Western International Securities, Evans’ member firm from May thru July 2019, also reportedly filed a U5 terminating his registration after “concerns regarding potential client impersonation as disclosed by “Firm A.”
FINRA alleges that Evans impersonated a total of 11 customers of “Firm A” between May 28, 2019, and July 1, 2019, while he was registered with Western International Securities. He allegedly made calls to Firm A’s customer service department to try to get their account information, according to the article.
Last month, Evans reportedly agreed to a 45-day suspension and to pay a $5,000 fine without admitting or denying the findings, according to the AWC.
According to his FINRA BrokerCheck report, Evans was registered with Ameriprise Financial Services Advisors in Mitchel Field, NY from May 2009 until 2019 when he was reportedly dismissed for “for company policy violations including failing to obtain authorization from a client prior to processing an RMD transaction and failing to disclose material information to another client.”
After getting discharged from Ameriprise, Evans was registered with Western International Securities from May 16 to Jul. 17, 2019, and is not currently registered, according to his BrokerCheck report.
Evans reportedly has three customer complaints on his record. Allegations include misleading a client and inappropriate variable annuity, among others.
Filing a Complaint against your Brokerage Firm
Brokerage firms are required to adequately supervise their advisors. They must ensure they are complying with FINRA rules.
When brokers abuse client accounts and conduct transactions that violate securities laws, the brokerage firm they are working with may be liable for investment losses. Brokerage firms that fail to monitor the business activities of their employees may be liable for investment losses due to negligent supervision for the misconduct of their employees.
The brokerage firms can be held responsible for any losses in a FINRA arbitration claim if it is determined that they failed to properly supervise their agent.
If you are concerned about investments with Martin “Marty” Evans, the securities attorneys at The White Law Group may be able to help you. For a free consultation with an attorney, please call (888) 637-5510.
The foregoing information, which is all publicly available, is being provided by The White Law Group.
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