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Lincoln Investment Fined $35,000 for Variable Annuity Supervisory Failures
We are currently investigating allegations made against Lincoln Investment, a Fort Washington, Pennsylvania-based securities brokerage firm. FINRA (the Financial Industry Regulatory Authority) brought a regulatory action against Lincoln Investment, alleging that it failed to adequately supervise the exchange of variable annuities by its representatives. FINRA was concerned that Lincoln Investment failed to monitor annuity exchanges where it was not the previous brokerage firm of record. To settle these allegations, Lincoln Investment agreed to pay a fine of $35,000.
In 2016, FINRA made allegations regarding Lincoln’s failure to supervise consolidated reports from May 2013 to August 2014. To settle these previous allegations, Lincoln Investment agreed to pay a fine of $75,000.
Israels & Neuman PLC is a securities and investment fraud law firm with offices in Denver, Colorado, and Seattle, Washington. We represent investors in FINRA arbitration proceedings in all 50 states, including numerous investors in the past throughout Pennsylvania, such as victims of the Doug Simanski Ponzi scheme. Our attorneys have recovered millions of dollars for investors against many brokerage firms in the past.
Click to view: Lincoln Investment FINRA AWC
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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.