Donnell Bowen – Northwestern Mutual Investment Services – Investigation
According to the Financial Industry Regulatory Authority (FINRA), the regulator has barred financial advisor Donnell Bowen from the securities industry.
According to the Letter of Acceptance, Waiver & Consent on June 1, Bowne’s employer, Northwestern Mutual Investment Services filed a Uniform Termination Notice for Securities Industry Registration (“Form U5”) last February indicating that Bowen had voluntarily resigned effective January 13, 2017.
At the time of his resignation, Bowen was under investigation for allegations of forgery of client signatures on non-variable insurance documents. After his departure, the Firm reported additional customer complaints concerning Bowen.
Bowen’s BrokerCheck report states that Bowen was registered with Northwestern Mutual Investment Services in Washington, DC from April 2009 until February 2017 when he “signed a Mutual Termination Agreement while under internal investigation for allegations of forgery of client signatures on non-variable insurance documents.”
Donnell Bowen has 13 customer disputes listed on his FINRA BrokerCheck report. Allegations include unauthorized changes on non-variable life insurance policies, forgery, fraud, and unsuitable recommendations, among others.
Failure to Supervise
The White Law Group is investigating potential claims involving the liability that Bowen’s employer may have for failing to properly supervise him.
Brokerage firms are required to properly supervise their advisors. They must ensure that those advisors are complying with applicable FINRA rules and regulations. If it can be demonstrated that Northwestern Mutual Investment Services failed to properly supervise its employee, Donnell Bowen, the firm may be held responsible for the losses in a FINRA arbitration claim.
If you are concerned about your investments with Donnell Bowen and would like a free consultation to discuss your litigation options, please call The White Law Group at 1-888-637-5510.
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 on The White Law Group, visit www.WhiteSecuritiesLaw.com.
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