Ferrell Rollins Jr., formerly with Capital Investment Group, Suspended 6 Months by FINRA
Have you lost money with financial advisor Ferrell Lee Rollins? We are looking into allegations made about Ferrell Lee Rollins Jr. from Rocky Mount, North Carolina. FINRA (the Financial Industry Regulatory Authority) suspended Ferrell Rollins from the securities industry for six months and fined him $5,000. FINRA alleged that Rollins borrowed $70,000 from an elderly customer. After the elderly customer died, Rollins stopped paying on the loan.
Ferrell Rollins was a financial advisor and registered representative of Capital Investment Group from 2005 to September 2019. He worked in a branch office in Rocky Mount, North Carolina. He was also terminated by Capital Investment Group for this alleged conduct, and Rollins was also previously terminated by another firm in 2005.
Brokerage firms like Capital Investment Group 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; Seattle, Washington; Ann Arbor, Michigan; and Phoenix, Arizona. We represent investors in FINRA arbitration proceedings in all 50 states, including North Carolina. Our attorneys have represented over one thousand investors against many brokerage firms in the past.