FINRA suspends Richard Anthony McCollam (CRD #1419048, Lafayette, California)
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FINRA arbitrators’ $519,000 message to Morgan Stanley: Small profits were not enough
It often takes large losses for an investor to consider suing his or her stockbroker or financial advisor. However, experienced FINRA arbitration attorneys know that investors may have a claim even if their portfolio realized modest gains. In evaluating a potential...
read moreApril 16, 2018 – An OHO decision became final in which McCollam was fined $10,000 and suspended from association with any FINRA member in all capacities for nine months. McCollam initially appealed the decision to the NAC but later withdrew the appeal, and the NAC determined not to call this matter for review. The sanctions were based on findings that McCollam willfully failed to timely disclose two customer arbitrations and six written customer complaints on a Form U4. FINRA failed to prove by a preponderance of the evidence that McCollam had notice of another customer complaint before he filed the Form U4. Therefore, the Hearing Panel declined to find that McCollam should have disclosed it on the Form U4 he filed.
The suspension is in effect from May 7, 2018, through February 7, 2019. (FINRA Case #2012035284301)
If you or someone you know has lost money investing with Richard Anthony McCollam, call the experienced FINRA arbitration attorneys at Epperson & Greenidge at 877-445-9261 for a free consultation. You may be eligible to recoup your losses. Epperson & Greenidge accepts all cases on a contingency basis: we only get paid if and when you collect money. Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-445-9261 now to speak to an attorney for free.