Farmers Financial Solutions Review : Regulatory Sanctions and Broker Misconduct
Farmers Financial Solutions, LLC (CRD#: 103863) is a brokerage firm headquartered in Westlake Village, California. According to FINRA BrokerCheck, the firm has faced 5 regulatory sanctions, including a significant FINRA action related to supervisory failures over variable universal life (VUL) products and mutual fund transactions.
June 21, 2021 – FINRA AWC (Supervisory Failures)
FINRA issued an Acceptance, Waiver & Consent (AWC) censuring the firm and imposing a $100,000 fine. Regulators found that Farmers Financial failed to maintain adequate supervisory systems, including monitoring high lapse rates and utilizing effective exception reporting. The deficiencies affected oversight of both variable universal life policies and mutual fund transactions. The firm paid the fine on July 6, 2021.
Broker Misconduct and Disciplinary Actions
Several former Farmers Financial representatives have been disciplined or barred by FINRA:
- Narinder Singh (CRD#: 3100308) – Barred in August 2020 after refusing to cooperate with a FINRA investigation tied to a fraudulent investment scheme. Singh also failed to pay an arbitration award, leading to an indefinite suspension.
- Justin Funakura (CRD#: 5718194) – Sanctioned in February 2025: fined $10,000, ordered to disgorge $4,000, and suspended for six months for unapproved sales of crypto-related promissory notes.
- James Elroy Burton Jr. (CRD#: 5051310) – Barred on April 24, 2025, after failing to provide documents during a FINRA investigation into undisclosed sales of crypto-related promissory notes. Burton had been discharged by the firm in October 2023.
- Jeffrey Alan Arbeit (CRD#: 6603428) – Barred on June 23, 2025, for refusing to provide documents requested by FINRA in an investigation into unreported private securities transactions. Arbeit was terminated by Farmers Financial in March 2025 for the same conduct.
Investor Claims and Supervisory Failures
Broker-dealers like Farmers Financial Solutions are legally obligated to establish and enforce supervisory systems to protect investors. When those systems break down, investors may be exposed to unsuitable products, fraudulent schemes, or unapproved private securities transactions. Supervisory failures and broker misconduct can cause significant financial losses for clients.
Why Hire a FINRA Arbitration Lawyer
If you suffered losses with Farmers Financial Solutions or one of its representatives, you may be entitled to recover your damages through FINRA arbitration.
The White Law Group has represented hundreds of investors in claims against brokerage firms, including cases involving supervisory failures, promissory notes, and unsuitable recommendations.
Our securities fraud attorneys can:
- Evaluate the strength of your potential claim.
- Draft and file a Statement of Claim in FINRA arbitration.
- Represent you in hearings and negotiate possible settlements.
FINRA arbitration is often faster and more cost-effective than traditional litigation and may provide a pathway for investors to recoup losses.
Contact Us
The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois, and Seattle, Washington.
If you have concerns about your investments with Farmers Financial Solutions, call 888-637-5510 for a free consultation with a securities attorney.
For more information, please visit our website at www.whitesecuritieslaw.com.
Frequently Asked Questions (FAQs)
Why are supervisory failures a concern for investors?
Supervisory failures can leave investors exposed to unsuitable investments, high-risk products, or fraudulent activity because the firm does not have adequate systems to detect or prevent misconduct.
How does The White Law Group help investors with claims against Farmers Financial Solutions?
The White Law Group assists investors nationwide in pursuing claims through FINRA arbitration, helping clients seek recovery of financial losses caused by broker misconduct or firm supervisory lapses.
What should I do if I lost money with Farmers Financial Solutions?
If you suffered losses, you may be able to file a claim through FINRA arbitration to pursue recovery. Speaking with a securities attorney can help you evaluate your options.
