Lawrence Fawcett, formerly with Westpark Capital, Ordered to Pay Arbitration Award
Have you lost money with financial advisor Lawrence Fawcett of New York, New York? We are investigating allegations made by FINRA, the Financial Industry Regulatory Authority, against Lawrence (or Larry) J. Fawcett, Jr. FINRA barred Fawcett from the securities industry after he failed to respond to a FINRA investigation. FINRA was investigating Fawcett regarding outside business activities that he allegedly failed to disclose to his former brokerage firm, Westpark Capital.
In October 2020, a FINRA arbitrator ordered Fawcett to pay over $35,000 to a customer. Fawcett was the subject of a default award after he failed to show up at an arbitration hearing.
Larry Fawcett was a financial advisor and registered representative of Westpark Capital from June 2015 to March 2018. He worked at a branch office in New York, New York. Fawcett was also the subject of a FINRA investigation in late 2017, in which he was accused of making unsuitable trades in mutual funds. Fawcett was ordered to pay a fine of $2,500 and restitution of $22,714. Fawcett was also terminated by Westpark Capital for the undisclosed outside business activities. He has also been the subject of eight customer complaints.
Brokerage firms like Westpark Capital 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; and Ann Arbor, Michigan. We represent investors in FINRA arbitration proceedings in all 50 states, including investors throughout New York and the New York City area. Our attorneys have represented over one thousand investors against many brokerage firms in the past, including Westpark Capital.