Palm Beach County Broker Barred for Failure to Cooperate With a FINRA Investigation
According to information released by the Financial Industry Regulatory Authority (FINRA), Lisa J. Lowi (CRD #1347790) has been permanently barred from the securities industry. In late 2017, FINRA requested on-the-record testimony from Ms. Lowi as part of an investigation it was conducting into claims that she had recommended unsuitable investments to customers.
Investigators report that Lisa Lowi declined to provide the requested testimony. Under FINRA Rule 8210, registered brokers have a professional duty to fully cooperate with investigations, including submitting to on-the-record testimony when it is requested as part of a broader FINRA investigation into potential misconduct.
As a result of her failure to do so, Ms. Lowi has been permanently barred from associating with FINRA members in any capacity. Without admitting to or denying the alleged misconduct, Ms. Lowi consented to the sanctions. To get full information regarding this enforcement action, please refer to the FINRA Case Number: 2016048424901.
Allegations of Unsuitable Investments
In recent years, Lisa J. Lowi was employed as a securities broker at RBC Capital Markets, LLC in West Palm Beach, Florida (2009-2015) and as a security broker at Janney Montgomery Scott LLC in Boca Raton, Florida. Over the last few years, many different investors have brought complaints against this broker. Indeed, on her FINRA BrokerCheck report, there are 35 different customer disputes that were filed in the three-year period from 2015 and 2017. As of January of 2018:
- 2 complaints have been withdrawn;
- 2 complaints were denied;
- 25 complaints were settled; and
- 6 complaints are still pending.
The vast majority of these customer complaints involve allegations of unsuitable investment recommendations. Most involve unsuitable corporate bond investment recommendations, with many of those corporate bonds being related to the energy sector. For the full available details regarding any specific complaint, investors should refer to BrokerCheck.
Victims of Unsuitable Investment Recommendations Should Take Legal Action
Brokers and brokerage firms have a legal responsibility to ensure that they are only recommending suitable investments for their customers. This is an affirmative duty, meaning that your broker must take proactive steps to ensure compliance. In practice, your financial advisor should carefully analyze your specific investment goals and your financial situation in order to determine which financial products and investment strategies are most appropriate for your individual needs. If you sustained serious losses because your advisor pushed you into unsuitably risky investments, you may be entitled to financial compensation. Your case should be review by a qualified legal professional.
Contact Our Miami Unsuitable Investments Lawyers Today
At Carlson & Associates, P.A., our law firm is committed to fighting for the rights and interests of investors. We have helped many unsuitable investment victims recover full and fair compensation for their losses. To get a confidential review of your broker negligence, please contact our legal team today. From our office in Miami, we serve investors throughout South Florida, including in West Palm Beach, Jupiter, Boca Raton, Fort Lauderdale, Hialeah, and North Miami Beach.
Resources:
brokercheck.finra.org/individual/summary/1347790
finra.complinet.com/en/display/display.html?rbid=2403&element_id=3883
finra.org/sites/default/files/fda_documents/2016048424901%20Lisa%20J.%20Lowi%20CRD%201347790%20AWC%20jm.pdf%20REDACTED.pdf
