Former Financial Advisor John W. Spach, Kestra Investment Services, Barred
According to the Financial Industry Regulatory Authority (FINRA), the regulator has barred former Kestra financial advisor John W. Spach from associating with any FINRA member at any time.
A Letter of Acceptance Waiver & Consent posted on FINRA’s website alleges that Spach refused to produce documents and information in FINRA’s investigation of allegations by a former customer. In doing so, he was reportedly permanently barred from the securities industry.
According to his FINRA Broker Check Report, Spach was registered with Kestra Investment Services in Aliso Viejo, CA from August 2014 until he was discharged in June 2018. According to FINRA, alleged violations included “co-mingling client assets with his own personal assets, breach of fiduciary duty (to include unsuitable investment advice, material misstatements, and failure to disclose material conflicts of interest), circumvention of compliance policies and procedures, and operational systems and procedures of the third-party custodian, and affirmative misrepresentations to the firm.”
For FINRA’s full findings see FINRA case number 2018058884001.
John Spach – Broker Investigation
The White Law Group is investigating potential claims involving John W. Spach 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 have questions about investments you made with John W. Spach, the securities attorneys of The White Law Group may be able to help you. To speak with a securities attorney, please call 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 Vero Beach, Florida.
For more information on The White Law Group, and its representation of investors, please visit our website at https://whitesecuritieslaw.com.
Tags: Aliso Viejo CA, FINRA arbitration, John Spach, John Spach Financial Advisor, John W. Spach barred, John W. Spach complaints, John W. Spach investigation, John W. Spach investment losses, John W. Spach Kestra, John W. Spach lawsuit, John W. Spach recovery options Last modified: February 22, 2019