FINRA Bars Advisor Robert Lax in Connection with Outside Business Activities
The Financial Industry Regulatory Authority (FINRA) has reportedly barred Robert Allen Lax (CRD #1985758 ) from associating with any FINRA member at any time. Lax reportedly refused to provide information and documents requested by FINRA regarding his outside business activities, according to a Letter of Acceptance Waiver and Consent.
FINRA stated that Lax responded to portions of the request but did not provide all of the information and documents requested. Lax acknowledges that he received FINRA’s request and will not produce the outstanding information and documents at any time.
According to his broker report, Lax was affiliated with a number of businesses, including R&L Financial Services, Affordable Storage Solutions, Integrity Properties, Forest Realty Associates, 52 Forest Realty Associates, among others.
According to FINRA, Lax was reportedly registered with the following firms during his career in the securities industry:
05/03/1999 – 05/24/2021, PARK AVENUE SECURITIES LLC (CRD#:46173), PARAMUS, NJ
10/06/1989 – 05/03/1999, GUARDIAN INVESTOR SERVICES CORP. (CRD#:6635), NEW YORK, NY
Lax’s broker report indicates he reportedly has one customer complaint and one financial compromise that was satisfied in 2017.
Potential Lawsuits to Recover Financial Losses
The White Law Group is investigating potential securities claims involving Robert Lax and the liability his employers may have for failure to properly supervise his activities.
When brokers abuse client accounts or conduct transactions that violate securities laws, such as making unsuitable investment recommendations, 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.
If you suffered losses investing with Robert Lax, the attorneys at The White Law Group may be able to help you by filing a FINRA Arbitration claim against his former employers. For a free consultation, with a securities attorney please call (888) 637-5510.
The foregoing information, which is all publicly available, is being provided by The White Law Group.
The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois.