The Financial Industry Regulatory Authority (“FINRA”) has barred a former Cambridge Investment Research, Inc. stockbroker from the securities industry for refusing to cooperate with a FINRA investigation into whether he, among other things, exercised discretion without written authorization in a customer’s account. The investigation was launched after Cambridge Investment Research, Inc. terminated the broker in January 2020, alleging that he placed discretionary trades without authority.
The broker was associated with Cambridge Investment Research, Inc. in Moorestown, New Jersey, from September 2019 to February 2020. He was previously registered with SagePoint Financial, Inc. in Moorestown, NJ, from January 2010 until August 2019.
Customers of Cambridge Investment Research, Inc., or SagePoint Financial, Inc. who have suffered financial losses, or suspect that the firms did not have their best interest in mind when recommending investments or making account transactions, can contact New York securities arbitration law firm Iorio Altamirano LLP for a free and confidential consultation and review of their legal rights.