FINRA recently announced that Robert Norman Gest, a financial advisor in Lighthouse Point, Florida, has been suspended from association with any FINRA member in any capacity for 18 months.

Without admitting or denying the allegations, Gest consented to the described sanctions and to the entry of findings that he recommended risky and illiquid CMO positions to his customers, and intentionally and/or recklessly made misrepresentations of material facts. The findings also stated that Gest recommended CMO positions to customers without investigating and understanding the products and without reasonable grounds to believe that CMO investments were suitable, as he lacked an understanding of the material characteristics of, and risks associated with, the CMOs offered.

According to his FINRA Broker Report (CRD), Gest was previously registered as a financial advisor with National Securities Corporation, a FINRA registered broker-dealer based in Fort Lauderdale, Florida. He has also been registered with Brookstreet Securities Corporation and A.G. Edwards & Sons.

If you have questions regarding investments you made with Robert Norman Gest or National Securities Corporation, or if you believe that you have been the victim of a securities fraud, The White Law Group may be able to help. The White Law Group is a national securities fraud, securities arbitration and investor protection law firm with offices in Chicago, Illinois and Boca Raton, Florida.

The firm has over 30 years of experience reviewing securities fraud claims throughout the country and Florida, including reviewing securities fraud claims in Lighthouse Point, Fort Lauderdale, Sunrise, Pompano Beach, Plantation, Deerfield Beach, Boca Raton, and Highland Beach. To contact the firm, please call 312-238-9650. Or, for more information on The White Law Group, please visit our website at http://whitesecuritieslaw.com.