FINRA Bars Advisor Randall Skrabonja after Allegations of Selling Away without Firm Approval
On June 26, 2023, the Financial Industry Regulatory Authority (FINRA), the self-regulator who oversees brokers and brokerage firms, reportedly barred Randall Skrabonja (CRD#: 1858245) from the securities industry.
According to a Letter of Acceptance, Waiver and Consent (AWC), Skrabonja consented to the bar after he reportedly refused to provide documents and information requested by FINRA. The regulator was investigating the circumstances surrounding his Skrabonja’s alleged termination from his member firm., Green Vista Capital. According to the letter, Green Vista reportedly filed a Form U5 stating that it had discharged Skrabonja for selling away without firm approval.
When a FINRA registered representative conducts business outside the scope of the brokerage firm where they are registered, the act can be considered “selling away.” Some brokers, looking to supplement their income, will go outside the traditional market, trying to find other products to push.
If a registered broker “sells away” from their firm, the brokerage firm may still be liable for negligent supervision of their broker representative and may be responsible for investment losses in a FINRA dispute resolution claim.
FINRA BrokerCheck Profile – Randall Skrabonja
The FINRA BrokerCheck tool is a free online tool that allows investors to research and verify the background and credentials of financial brokers, brokerage firms, and investment advisors registered with FINRA.
Investors can use the tool to verify whether a broker or brokerage firm is registered with FINRA, as well as to review their employment history, licensing status, and any regulatory actions or complaints filed against them.
According to Skrabonja’s broker check report, he has three customer complaints filed against him. Allegations include unsuitable investments, among others. Skrabonja was reportedly affiliated with the following firms, among others, during his career:
10/03/2019 – 05/16/2023, GREEN VISTA CAPITAL, LLC (CRD#:293630), Winter Park, FL,
B, 05/03/2016 – 10/04/2019, SAGEPOINT FINANCIAL, INC. (CRD#:133763), FORT LAUDERDALE, FL
B, 06/20/2003 – 08/04/2015, METLIFE SECURITIES INC. (CRD#:14251), WEST PALM BEACH, FL
Failure to Supervise
All broker-dealers have a responsibility to adequately supervise its employees. Brokerage firms that fail to monitor the business activities of their employees may be liable for investment losses. If your broker has defrauded you, you may be able to file a FINRA claim against your brokerage firm.
FINRA Rule 3110 (Supervision) requires a firm to establish and maintain a system to supervise the activities of its associated persons that is reasonably designed to achieve compliance with the applicable securities laws and regulations and FINRA rules.
Broker Investigation – Randall Skrabonja
The White Law Group is investigating potential securities claims involving Green Vista Capital and its alleged failure to supervise broker Randall Skrabonja.
When brokers violate securities laws, such as making unauthorized trades or misappropriating funds, the brokerage firm they are working with may be liable for investment losses through FINRA Arbitration. FINRA arbitration is generally a faster and less expensive alternative to traditional litigation.
If your broker has defrauded you, you may be able to file a claim with FINRA to seek resolution through arbitration. FINRA arbitration can be a complex and technical process, and having an experienced attorney who is knowledgeable about securities law can greatly increase your chances of success.
Hiring a FINRA Attorney
The experienced FINRA arbitration attorneys at the White Law Group can help you with the arbitration process including evaluating the merits of your claim and determining whether you have a strong case for arbitration.
After drafting a statement of claim that accurately reflects the allegations of fraud and the damages you are seeking, our attorneys will represent you at the arbitration hearing, present evidence and make arguments on your behalf. They may be able to negotiate a settlement for you before going to arbitration.
If you have suffered losses investing with Randall Skrabonja, the securities 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 White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm dedicated to helping investors in claims in all 50 states against their financial professional or brokerage firm. Since the firm launched in 2010, it has handled over 700 FINRA arbitration cases.
Our firm represents investors in all types of securities related claims, including claims involving stock fraud, broker misrepresentation, churning, unsuitable investments, selling away, and unauthorized trading, among many others.
With over 30 years of securities law experience, The White Law Group has the expertise to help investors defrauded in securities, investment and financial business transactions attempt to recover their investment losses. For more information, please visit our website, www.whitesecuritieslaw.com.
Tags: broker investigation, failure to supervise, Green Vista Capital, Randall Skrabonja, selling away Last modified: June 29, 2023