FINRA Bars Thomas Stratton after Allegations of Misrepresentations
According to the Financial Industry Regulatory Authority (FINRA) on August 12, 2021, the regulator has barred financial advisor Thomas Ward Stratton (CRD#: 1646899) from the securities industry after he allegedly failed to provide testimony in FINRA’s investigation.
Without admitting or denying the findings, Stratton reportedly refused to provide information to FINRA in connection with its investigation of his potential misuse of customer funds in the sale of promissory notes related to a third party’s life insurance policy and possible misrepresentations, according to FINRA.
FINRA’s findings indicate that this investigation originated from a tip to FINRA’s Securities Helpline for Seniors. Stratton purportedly provided a partial but incomplete response to FINRA’s requests and later reportedly acknowledged that he received the requests and will not produce the outstanding information or documents.
Stratton reportedly has one customer complaint, settled in 2016, for allegations of “unsuitable management of accounts/over-concentration/Margin/Breach of Fiduciary Duty,” according to his broker profile.
According to FINRA, Stratton was reportedly affiliated with the following firms during his career in the industry:
01/05/2004 – 08/12/2021, WORLD CHOICE SECURITIES, INC. (CRD#:30933), MELBOURNE, FL
08/13/2002 – 01/02/2004, FINANCIAL INDEPENDENCE SYSTEMS, INC. (CRD#:46425), DANIA BEACH, FL
Potential Lawsuits to Recover Financial Losses
The White Law Group is investigating potential securities claims involving Thomas Stratton and the liability his employers may have for failure to properly supervise his activities.
When brokers abuse client accounts or conduct transactions that violate securities laws, such as making unsuitable investment recommendations, 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.
If you suffered losses investing with Thomas Stratton, the attorneys at The White Law Group may be able to help you by filing a FINRA Arbitration claim against his former employers. For a free consultation, with a securities attorney please call (888) 637-5510.
The foregoing information, which is all publicly available, 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.
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