FINRA inquiry of JoeAnn Walker involves Unsuitable VA sales
According to the Financial Industry Regulatory Authority (FINRA), the regulator has barred former Next Financial advisor JoeAnn Walker (CRD#: 2210194, Brockton, MA) for not completing documentation in a recent inquiry.
FINRA was inquiring into possible unsuitable sales of variable annuities by Walker. Although her response to FINRA’s request included some documents, the response reportedly was incomplete, and her attorney said that she would not provide any additional documents at any time.
On Tuesday, the regulator also fined Next Financial Group Inc. $750,000 as part of a settlement for several supervisory violations involving variable annuities. It is unclear if the two announcements are connected.
According to her FINRA BrokerReport, Walker was registered with Next Financial from April 2015 until she was discharged in October 2017.
Prior to that, she was affiliated with LPL Financial from August 2006 until April 2015. She has three customer disputes listed on her broker report. Allegations include excessive turnover and unauthorized sales.
For FINRA’s full findings see FINRA case number2016049354501.
Investigating Potential Claims
The White Law Group is investigating the liability that brokerage firms may have for losses sustained by their clients. Brokerage firms are required to adequately supervise their agents to ensure they are complying with FINRA rules. If it is determined that the broker dealer failed to supervise their agents, they can be held responsible for losses in a FINRA arbitration claim.
Are you concerned about your investments with JoeAnn Walker and Next Financial Group? The attorneys at The White Law Group may be able to help you. For a free consultation with a securities attorney, please call (888) 637-5510.
The foregoing information, which is all publicly available on FINRA’s website, 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 on The White Law Group, please visit www.whitesecuritieslaw.com
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