Securities Arbitration Lawyer Blog
FINRA has barred former MML Investors Services, LLC broker Robert Joseph Boyer III from the securities industry. Mr. Boyer consented to the sanction and to the entry of findings that he refused to provide information and documents requested by FINRA related to a matter that originated from a Form U4 amendment filed by MML Investors Services.
The amendment disclosed a customer complaint alleging that Mr. Boyer established multiple accounts that the complainant wasn’t in a financial position to purchase and that the complainant never reviewed nor signed some of the applications for these products, which were later found to contain false information.
If you have suffered investment losses with Robert Joseph Boyer III, or MML Investors Services, 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. 2020068462901
Mr. Boyer and FINRA entered into a Letter of Acceptance, Waiver, and Consent (“AWC”) on September 21, 2021, after FINRA alleged that Mr. Boyer failed 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 the Form U4 amendment MML Investors Services filed on October 27, 2020.
FINRA Rule 8210(a) states that, for purposes of an investigation, FINRA may require any person associated with a member firm “to provide information orally, in writing, or electronically . . . with respect to any matter involved in [an] investigation.” FINRA Rule 8210(c) further states that no 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 to “observe high standards of commercial honor and just and equitable principles of trade.”
On April 15, 2021, FINRA sent a request to Mr. Boyer for the production of information and documents pursuant to FINRA Rule 8210. Upon request, FINRA granted Mr. Boyer an extension until May 13, 2021, to respond to the request. Mr. Boyer did not provide the information and documents called for by the due date.
Mr. Boyer stated through counsel that he would not produce the information or documents requested at any time.
By refusing to produce the information and documents as requested pursuant to FINRA Rule 8210, Mr. Boyer violated FINRA Rules 8210 and 2010.
Robert Joseph Boyer III (CRD#: 5787312)
Mr. Boyer first registered with FINRA in July 2010 as a General Securities Representative through his association with MML Investors Services, LLC. MML Investors Services terminated his registration in November 2011.
From February 2012 to March 2017, he was registered with FINRA through his association with MSI Financial Services, Inc. In March 2017, he again became registered with FINRA through his association with MML Investors Services.
On October 27, 2020, MML Investors Services filed a Form U4 amendment disclosing a customer complaint alleging that Mr. Boyer “established multiple accounts that the complainant wasn’t in a financial position to purchase” and that the complainant “never reviewed nor signed some of the applications for these products, which were later found to contain false information.” On December 24, 2020, MML Investors Services filed a Form U5 terminating Mr. Boyer’s registration. The firm indicated that Mr. Boyer was terminated while under internal review with respect to a customer complaint regarding electronic signatures on Traditional Life Insurance documents.
From January 2021 to June 2021, Mr. Boyer was registered with FINRA through his association with J. Alden Associates, Inc.
Mr. Boyer is not currently registered or associated with a FINRA member. However, he remains subject to FINRA’s jurisdiction pursuant to Article V, Section 4 of FINRA’s By-Laws.
In addition to the October 2020 customer complaint, Mr. Boyer’s public FINRA CRD also shows one prior customer complaint alleging that a variable annuity that Mr. Boyer sold to the complainant in 2017 had the ability to withdraw funds for medical reasons without penalty. Mr. Boyer’s firm denied the claim.
How to Recover Losses or Obtain a Free Consultation
If you have suffered investment losses with Robert Joseph Boyer III, or MML Investors Services, 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.