Timothy Pandekakes, formerly with Cadaret Grant & Co., Suspended by FINRA
Have you lost money with financial advisor Timothy Pandekakes? We are looking into allegations made about Timothy Pandekakes from Bronxville, New York. FINRA (the Financial Industry Regulatory Authority) suspended Pandekakes from the securities industry for three months and ordered him to pay partial restitution of $20,000. FINRA alleged that Pandekakes recommended that customers exchange variable annuities which caused them to incur surrender charges. FINRA alleged that these annuity switch recommendations were unsuitable.
Timothy Pandekakes was a financial advisor and registered representative of Cadaret Grant & Co. from 2005 to June 2019. He is currently affiliated with American Portfolios Financial Services. He worked in a branch office in Bronxville, New York. Pandekakes was terminated by Cadaret Grant & Co. over this alleged conduct.
Brokerage firms like Cadaret Grant & Co. 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 throughout New York. Our attorneys have represented over one thousand investors against many brokerage firms in the past.