Andrew M. Arthur, previously with Guggenheim Securities, Barred by FINRA
Have you lost money with financial advisor Andrew Arthur? We are investigating allegations made about Andrew M. Arthur from New York, New York. FINRA (the Financial Industry Regulatory Authority) barred Arthur from the securities industry. FINRA was investigating Arthur after he was alleged to have stolen or converted $275,000 from a relative by falsely representing that this money would be invested in a private placement.
Andrew Arthur was a financial advisor and registered representative of Guggenheim Securities from August 2014 to July 2017. He was also with GMP Securities from September 2017 to September 2018 and with TGP Securities from May 2019 to August 2019. He worked in a branch office in New York, New York. Arthur was previously suspended for four months by FINRA in 2018, and he was also suspended for one month in 2015 for failing to disclose a tax lien. Arthur has also been terminated by GMP Securities and FBR Capital Markets.
Brokerage firms like Guggenheim Securities have a responsibility to adequately supervise all representatives who are registered through their firm. Brokerage firms also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies. When brokerage firms fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers.
Israels & Neuman PLC is a securities and investment fraud law firm with offices in Denver, Colorado; Phoenix, Arizona; Seattle, Washington; and Ann Arbor, Michigan. We represent investors in FINRA arbitration proceedings in all 50 states, including investors in New York. Our attorneys have represented over one thousand investors against many brokerage firms in the past.