UPDATE! Thomas Lawrence SUSPENDED
Thomas Lawrence, from Chapel Hill, Tennessee, Suspended for Two Years by FINRA
Have you lost money with financial advisor Thomas Lawrence of Chapel Hill, Tennessee? We are continuing our investigation into allegations made by FINRA, the Financial Industry Regulatory Authority, against Thomas H. Lawrence III. In July 2017, FINRA brought a regulatory complaint against Lawrence. FINRA was investigating Lawrence regarding allegations that he borrowed $39,000 from an elderly customer (about 96 years old at the time), in violation of FINRA rules and, likely, the internal policies of his brokerage firm, Ameritas Investment Corp. He failed to repay the loan.
In September 2017, FINRA entered into an agreement with Thomas Lawrence, in which Lawrence agreed to pay restitution of $41,332.65 and a $5,000 fine. Moreover, Lawrence was suspended from the securities industry for 24 months. However, brokers who are ordered to pay restitution and receive lengthy suspensions often do not pay the restitution or fines.
Thomas Lawrence was a financial advisor and registered representative of Ameritas Investment Corp. from 2006 to December 2016. He worked at a branch office in Chapel Hill, Tennessee. Lawrence also has one customer complaint on his BrokerCheck report. He also works with the Lawrence Financial Group.
Brokerage firms like Ameritas Investment Corp. have a responsibility to adequately supervise all representatives who are registered through their firm. Brokerage firms also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies. When brokerage 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 Denver, Colorado; Ann Arbor, Michigan; and the Seattle area. We represent investors in FINRA arbitration in all 50 states, including investors throughout the greater Nashville area and Tennessee. We have previously represented over one thousand investors against numerous brokerage firms in the past, including Ameritas Investment Corp.
Click to view: Lawrence, Thomas BrokerCheck 7.28.17
Click to view: Lawrence, Thomas FINRA AWC
Click to view: Lawrence, Thomas FINRA Complaint
If you lost money with Thomas Lawrence or Ameritas Investment Corp., 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.