Mason W. Gann Broker Investigation

Financial Advisor Mason W. Gann, Berthel Fisher & Company in Dallas, TX

Are you concerned about investments with Mason W. Gann in Dallas, Texas? If so, the securities attorneys at The White Law Group may be able to help you by filing a FINRA Dispute Resolution claim.

According to public records, the Financial Industry Regulatory Authority (FINRA) has reportedly suspended Gann from working in the securities industry. According to a Letter of Acceptance, Wavier and Consent, between August 2015 and January 2018, Gann allegedly recommended and effected a risky options-trading strategy in the account of a retiree and senior investor who had limited income, modest retirement savings, and minimal investment knowledge. According to the regulator Gann reportedly lacked a reasonable basis for believing that his options recommendations were suitable for the customer, given what Gann purportedly knew about the customer’s investment profile.

According to his FINRA BrokerCheck report, Gann was affiliated with Berthel Fisher & Company in Dallas, Texas from 2012 through 2018 when he was reportedly discharged for “possible violation of terms of heightened supervision.”

Gann was reportedly also suspended in 2018 after FINRA found that he purportedly exercised discretion in six customers’ accounts without obtaining prior written authorization from the customers or prior written approval from his member firm. The findings reportedly stated that these six customers verbally approved of Gann’s use of discretion to buy and sell securities in their accounts, but allegedly did not provide written authorization to do so. The firm, moreover, generally prohibited its representatives from using discretion in brokerage accounts and reportedly did not approve Gann to use discretion on behalf of any customer. The findings also stated that despite not having the necessary written authorizations or firm approval, Gann purportedly used his discretion to make approximately 500 trades in the affected customers’ accounts.

Gann reportedly has 3 customer complaints indicated on his broker report since 2015. Allegations include “unsuitable and risky investments,” among others.

Investigating Potential Lawsuits

The White Law Group is investigating potential lawsuits regarding the liability that Gann’s employers may have for failure to properly supervise him.

When brokers violate securities laws, such as making unauthorized trades or unsuitable investments, the brokerage firm they are working with may be liable for investment losses through FINRA Arbitration.

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 White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Franklin, Tennessee. We represent investors in FINRA arbitration claims in all 50 states, including Texas. Our attorneys have recovered millions of dollars from many brokerage firms in the past.

If you are concerned about your investments with Mason W. Gann, please call the securities fraud attorneys at The White Law Group at 888-637-5510 for a free consultation.

For more information on The White Law Group, and its representation of investors, please visit https://whitsecuritieslaw.com.