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Written by 6:05 pm Blog, Current Investigations

Charles Laverty Barred from Securities Industry

Charles Laverty

Charles Laverty – Broker Investigation

According to the Financial Industry Regulatory Authority (FINRA), financial advisor Charles Laverty (CRD No. 4875386) has reportedly been barred from associating with any FINRA member at any time.

According to FINRA’s findings, Laverty allegedly borrowed $1.35 million from an elderly married couple who were customers over a four-year period without informing his employer firms. FINRA alleges that he submitted false compliance questionnaires to two employers to conceal his borrowing.

Further, Laverty reportedly provided false testimony to FINRA during a prior investigation into his borrowing from other customers. Laverty also allegedly failed to disclose a judgment and a tax lien on his Form U4. Aside from the bar, he is also reportedly ordered to pay costs.

Laverty has been employed with 7 different firms in the securities industry since 2005, according to his broker report. Most recently he was a registered representative with TCFG Wealth Management in Newport Beach, California. According to FINRA Broker Check, he reportedly has 15 disclosure events on his record, including two employment separations and 4 customer complaints, and 5 regulatory events among others.

For FINRA’s full findings see FINRA case number No. 2016050205901.

Failure to Supervise

The White Law Group is investigating potential claims involving Charles Laverty and the liability his employers may have for failure to properly supervise his alleged activities.

Brokerage firms are required to adequately supervise their advisors. They must ensure they are complying with FINRA rules.

When brokers abuse client accounts and conduct transactions that violate securities laws, the brokerage firm they are working with may be liable for investment losses. Brokerage firms that fail to monitor the business activities of their employees may be liable for investment losses due to negligent supervision for the misconduct of their employees.

The brokerage firms can be held responsible for any losses in a FINRA arbitration claim if it is determined that they failed to properly supervise their agent.

If you suffered investment losses with Charles Laverty, the securities attorneys at The White Law Group may be able to help you. For a free consultation with an attorney specializing in investment fraud, please call (888) 637-5510.

The foregoing information, which is all publicly available, is being provided by The White Law Group.

The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Franklin, Tennessee. For more information, please visit our website, www.whitesecuritieslaw.com.





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