Securities Arbitration Lawyer Blog
FINRA has barred Purshe Kaplan Sterling Investments (PKS) broker Lee Taylor from the securities industry. Mr. Taylor consented to the sanctions and to the entry of findings that he refused to produce documents and information requested by FINRA in connection with its investigation into his potential undisclosed private securities transactions with PKS customers, including participating in trading for them for compensation in brokerage accounts outside of the firm.
If you have suffered investment losses with Lee Taylor, or Purshe Kaplan Sterling Investments, contact New York securities arbitration lawyers Iorio Altamirano LLP for a free and confidential evaluation of your account.
Iorio Altamirano LLP represents investors nationwide that have disputes with their financial advisors or brokerage firms.
FINRA Letter of Acceptance, Waiver, and Consent No. 2019064209301
Lee Taylor and FINRA entered into a Letter of Acceptance, Waiver, and Consent (“AWC”) on September 28, 2021, after FINRA alleged that Mr. Taylor refused to provide information and documents that were requested pursuant to FINRA Rule 8210, in violation of FINRA Rules 8210 and 2010.
FINRA indicated that this matter originated from a tip to the FINRA Securities Helpline for Seniors. FINRA was investigating Mr. Taylor’s potential participation in undisclosed private securities transactions with PKS customers, including participating in trading for them for compensation in brokerage accounts outside of PKS.
FINRA Rule 8210(a)(1) states, in relevant part, that FINRA may “require a…person associated with a member, or any other person subject to FINRA’s jurisdiction, to provide information orally, in writing, or electronically…with respect to any matter involved in [a FINRA] investigation.” FINRA Rule 8210(c) states that “[n]o…person shall fail to provide information …pursuant to this Rule.” A violation of FINRA Rule 8210 is also a violation of FINRA Rule 2010, which requires associated persons, in the conduct of their business, to “observe high standards of commercial honor and just and equitable principles of trade.”
On September 2, 2021, in connection with its investigation into Mr. Taylor’s potential undisclosed private securities transactions, FINRA staff sent a request to Mr. Taylor for documents and information pursuant to FINRA Rule 8210. Mr. Taylor indicated that he would not produce the documents and information requested at any time.
By refusing to produce the documents and information requested pursuant to FINRA Rule 8210, Mr. Taylor violated FINRA Rules 8210 and 2010.
You can read more about private securities transactions here.
Lee Taylor (CRD#: 3045030)
Mr. Taylor was registered with PKS from October 17, 2011, to September 28, 2021. Mr. Taylor first became registered with FINRA in February 2000.
How to Recover Losses or Obtain a Free Consultation
If you have suffered investment losses with Lee Taylor, or Purshe Kaplan Sterling Investments, contact New York securities arbitration lawyer Jorge Altamirano of Iorio Altamirano LLP at jorge@ia-law.com or toll-free at (855) 430-4010 for a free and confidential evaluation of your account.
Iorio Altamirano LLP is a securities arbitration law firm based in New York, NY. We pursue FINRA arbitration claims nationwide on behalf of investors to recover financial losses arising out of wrongful conduct by financial advisors and brokerage firms.