Brian J. Lockett Broker Investigation

Posted on November 18, 2019 by The White Law Group

Financial Advisor Brian J. Lockett, Independent Financial Group in Lynnwood, Washington

Are you concerned about investments with Brian J. Lockett in Lynnwood, Washington? If so, the securities attorneys at The White Law Group may be able to help you by filing a FINRA Dispute Resolution claim.

According to the Financial Industry Regulatory Authority on November 12, the regulator reportedly suspended financial advisor Brian J. Lockett after it was determined that he allegedly participated in a private securities transaction without providing prior written notice to his member firm.

According to the Letter of Acceptance, Waiver & Consent posted on Nov. 12, Lockett has reportedly been suspended for 45 calendar days and fined $5,000.

According to his FINRA BrokerCheck report, Lockett is currently affiliated with Independent Financial Group in Lynnwood, Washington and has been since 2013. Prior to that, he reportedly worked for Geneos Wealth Management. Lockett reportedly has 9 customer complaints filed against him. Allegations include “sale of unapproved and unsuitable investments in oil and gas and a penny stock,” among others, according to his broker report.

Investigating Potential Lawsuits

The White Law Group is investigating potential lawsuits regarding the liability that Lockett’s employers may have for failure to properly supervise him.

When brokers violate securities laws, such as making unsuitable or unapproved investments or selling private securities transactions without approving it with their employer, the brokerage firm they are working with may still be liable for investment losses through FINRA Arbitration.

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 White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Franklin, Tennessee.

We represent investors in FINRA arbitration claims in all 50 states, including Washington. Our attorneys have recovered millions of dollars from many brokerage firms in the past.

If you are concerned about your investments with Brian J. Lockett, please call the securities fraud attorneys at The White Law Group at 888-637-5510 for a free consultation.

For more information on The White Law Group, and its representation of investors, please visit www.WhiteSecuritiesLaw.com.

UBS Yes | UBS Yield Enhancement Strategy Lawsuits

Posted on August 27, 2019 by The White Law Group

UBS Yield Enhancement Strategy (UBS YES) Investment losses

The White Law Group is continuing its investigation of broker dealers who may have unsuitably recommended UBS Yield Enhancement Strategy to investors.

According to an article in Financial News this week, Yield Enhancement Strategy, or YES, has reportedly generated at least $60 million in losses for clients and more than two dozen customer complaints thus far.

The Yield Enhancement Strategy is an option-based trading strategy, designed “to generate returns through the strategic sale and purchase of SPX index option spreads,” according to UBS.

UBS offered the Yield Enhancement Strategy typically to high net worth investors who were required to allocate a minimum Mandate to the UBS YES program.

According to reports, UBS Yield Enhancement Strategy investors have suffered substantial losses in their portfolios. While some investors are expressing serious concerns, the losses are reportedly continuing to increase.

Unfortunately, it appears that some UBS YES investors were asked to provide additional collateral and/or are facing margin deficits.

Others reportedly were not able to get out of the Yield Enhancement Strategy programs, and could be facing catastrophic losses.

YES Investors may have claims.

The White Law Group is investigating potential securities fraud claims involving broker dealers who may have unsuitably recommended UBS Yield Enhancement Strategy to investors.

If you have suffered losses investing in UBS YES, please contact the securities attorneys at The White Law Group. For a free consultation, please call the offices at 888-637-5510.

The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Franklin, Tennessee.

We represent investors in FINRA arbitration claims in all 50 states. Our attorneys have recovered millions of dollars from many brokerage firms in the past, including UBS.

For more information on The White Law Group, and its representation of investors, please visit www.WhiteSecuritiesLaw.com.

Armada Waste Management Investment Losses

Posted on June 26, 2019 by The White Law Group

Armada Waste Management LP, Featured by Top Attorneys, The White Law Group

GPB Capital’s Offering Armada Waste Management Declines in Value

According to reports on Friday, GPB Capital sent a document to broker-dealers on June 22, letting them know of a steep decline in value of its private placement offerings, including Armada Waste Management, LP.

GPB reportedly raised $1.8 billion from wealthy investors through sales of high-risk private placements from registered brokers and their firms while collectively earning $167 million in fees and commissions for the transactions.

On average, advisors and their firms collected 9.3% in commissions through the sale of GPB private placements.

Unfortunately for investors, these investments have dropped significantly in value.

In particular, investors bought $163.4 million of Armada Waste Management, but according to report, the current estimated value of the fund is $53.4 million.

Thus, an investment of $50,000 in Armada Waste Management has reportedly dropped in value 67.4%, and is now worth $16,330.

FINRA Lawsuits

The White Law Group continues its investigation into the liability that FINRA registered brokerage firms may have for improperly selling alternative investment products like GPB’s Armada Waste Management LP to investors.

Private placements are a means for companies to raise capital through the sale of equity or debt securities without having to register their securities with the SEC. These investments are often riskier and more complicated than traditional investments, and are only suitable for high net worth, sophisticated investors.

Broker dealers are required to perform adequate due diligence on any investment they recommend. They must ensure that all recommendations are suitable for the investor. Recommendations should be in line with the investor’s age, risk tolerance, net worth, and investment experience.

Despite the risks of investing in this type of alternative investments, brokerage firms continue to push this type of investment because of the high commissions associated with their sale and creation.

If you are concerned about your investment in Armada Waste Management LP or another GPB Capital private placement offering and would like to speak with a securities attorney about your options, please call The White Law Group at 888-637-5510 for a free consultation.

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 and Franklin, Tennessee.

For more information on The White Law Group and its representation of investors in FINRA arbitration claims, visit https://www.whitesecuritieslaw.com.