Raymond Thomas, formerly with Network 1 Financial, Barred by FINRA
Have you lost money with financial advisor Raymond Thomas? We are looking into allegations made about Raymond Alexander Thomas from Brooklyn, New York. FINRA (the Financial Industry Regulatory Authority) barred him from the securities industry. FINRA alleged that Thomas engaged in an outside business activity without disclosing such to his former brokerage firm, Network 1 Financial. Thomas also was alleged to have provided false or misleading information to FINRA during its investigation.
Raymond Thomas was a financial advisor and registered representative of Network 1 Financial from April 2013 to March 2018. He worked in a branch office in Brooklyn, New York. He was also terminated by Network 1 Financial
Brokerage firms like Network 1 Financial 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 Phoenix, Arizona; Seattle, Washington; Denver, Colorado; and Ann Arbor, Michigan. 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.