SEC Bars Laurence Balter of Fox Island, Washington from the Securities Industry
Have you lost money with investment advisor Laurence Balter of Fox Island, Washington? We are investigating allegations made by the Securities and Exchange Commission (SEC) against Laurence I. Balter, a former registered investment advisor with Oracle Investment Research. Balter previously managed a mutual fund called the Oracle Mutual Fund.
The SEC recently barred Balter from the securities industry, regarding allegations that he: a) fraudulently allocated profitable trades to his own accounts to the detriment of his clients; b) falsely told his advisory clients that they would not be paying advisory fees and fund management fees on Oracle investments; and c) he made trades for the Oracle fund that deviated from the investment limitations. The SEC ordered Balter to pay $550,000, which included a $50,000 fine, a disgorgement of $489,921, and interest of $10,079.
Laurence Balter was an investment advisor with Oracle Investment Research from June 2010 to December 2013. He also was affiliated with LPL Financial from 2003 to September 2010. He worked at offices in Fox Island, Washington and Lahaina, Hawaii.
Investment advisory firms also must take steps to ensure that their advisors follow all securities rules and regulations, as well as internal firm policies. When investment advisory firms fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers.
Israels & Neuman PLC is a securities and investment fraud law firm with offices in Bellevue, Washington; Vancouver, Washington; Denver; and Ann Arbor, Michigan. We represent investors in FINRA arbitration proceedings in all 50 states, including investors in Washington, the Seattle area, and the Puget Sound area in the past.
Click to view: Balter, Laurence SEC Order
Click to view: Balter, Laurence BrokerCheck 5.30.17
If you lost money with Laurence Balter, please CONTACT US at 206-795-5798 for a free evaluation of your case.
Israels & Neuman, PLC is a private law firm and is not affiliated with any government or law enforcement agency. Any investigation referenced in this blog is independent in nature and is being conducted by our law firm privately, not in conjunction with any government or law enforcement agency. All information contained in this blog should be deemed statements of opinion derived from the author’s review of public records, not statements of fact. This blog is advertising material and does not create an attorney client relationship, nor does it constitute legal advice. Everyone’s situation is different and the question of whether or not you have a claim will vary on a case-by-case basis. In contingent representation, clients may still be liable for costs.