Securities Arbitration Lawyer Blog
FINRA has barred former Cetera Advisors LLC broker Donna Jean Hines from the securities industry. Hines consented to the sanction and to the entry of findings that she refused to appear for on-the-record testimony in connection with FINRA’s investigation into whether she facilitated a customer’s bitcoin investment for compensation. The FINRA findings stated that although Hines initially cooperated with FINRA’s investigation, she eventually ceased doing so.
If you have lost money with Donna Jean Hines, or Cetera Advisors LLC, contact New York securities arbitration lawyers Iorio Altamirano LLP for a free and confidential evaluation of your account.
Iorio Altamirano LLP represents investors nationwide that have disputes with their financial advisors or brokerage firms.
FINRA Letter of Acceptance, Waiver, and Consent No. 2021070010301
Donna Jean Hines and FINRA entered into a Letter of Acceptance, Waiver, and Consent (“AWC”) on November 8, 2021, after FINRA alleged that Hines refused to appear for on-the-record testimony in connection with FINRA’s investigation into whether she facilitated a customer’s bitcoin investment for compensation, in violation of FINRA Rules 8210 and 2010.
FINRA indicated that the matter originated from a Cetera customer’s lawsuit alleging that Hines facilitated the customer’s bitcoin investment away from Cetera for compensation.
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FINRA Rule 8210(a)(1) states, in relevant part, that FINRA may “require a…person associated with a member, or any other person subject to FINRA’s jurisdiction, to provide information orally, in writing, or electronically…and to testify at a location specified by FINRA staff…with respect to any matter involved in [a FINRA] investigation.” FINRA Rule 8210(c) states that “[n]o…person shall fail to provide information or testimony…pursuant to this Rule.” A violation of FINRA Rule 8210 is also a violation of FINRA Rule 2010, which requires associated persons, in the conduct of their business, to “observe high standards of commercial honor and just and equitable principles of trade.”
Although Hines initially cooperated with FINRA’s investigation, she ceased doing so in September 2021. Specifically, on September 16, 2021, FINRA sent a request to Hines for on-the-record testimony pursuant to FINRA Rule 8210. Through counsel, Hines communicated to FINRA that she would not appear for on-the-record testimony at any time.
By refusing to appear for on-the-record testimony as requested pursuant to FINRA Rule 8210, Hines violated FINRA Rules 8210 and 2010.
Donna Jean Hines (CRD#: 4275524)
Hines was first associated with a FINRA member in 2000. In 2013, Hines became registered with FINRA as a General Securities Representative through her association with Cetera Advisors LLC. On May 4, 2021, Cetera filed a Uniform Termination Notice for Securities Industry Registration (Form U5) for Hines, terminating her registration with FINRA.
Hines’ public FINRA CRD shows one pending customer complaint and four prior customer complaints that were settled. In the pending customer complaint, which was filed in February 2021, the Plaintiff alleges “that his registered representative engaged in constructive fraud/common law fraud, made misrepresentations, committed negligence and breached fiduciary duties related to his purported investment in Bitcoin.”
How to Recover Losses or Obtain a Free Consultation
If you have lost money with Donna Jean Hines, or Cetera Advisors LLC, contact FINRA arbitration lawyers August Iorio and Jorge Altamirano of Iorio Altamirano LLP at august@ia-law.com, jorge@ia-law.com or toll-free at (855) 430-4010 for a free and confidential evaluation of your account.
Iorio Altamirano LLP is a securities arbitration law firm based in New York, NY. We pursue FINRA arbitration claims nationwide on behalf of investors to recover financial losses arising out of wrongful conduct by financial advisors and brokerage firms.