FINRA bars Thomas Alan Meier (CRD #1146044, Miami, Florida)
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As reported in InvestmentNews, three Raymond James entities have agreed to pay over $15 million to resolve an investigation by the SEC. The settlement and SEC order focused on Raymond James’s actions in improperly charging certain clients advisory fees when the...read more
March 19, 2018 – A Letter of Acceptance, Waiver and Consent (AWC) was issued in which Meier was barred from association with any FINRA member in all capacities. Without admitting or denying the findings, Meier consented to the sanction and to the entry of findings that he effected approximately 1,290 unauthorized transactions, including both purchases and sales of equity securities, in eight accounts belonging to six customers. The findings stated that none of the eight accounts were discretionary accounts and Meier did not have discussions with the customers about the trades prior to the transactions and did not obtain the customers’ authorization prior to executing any of the transactions. Meier received approximately $265,000 in commissions for those transactions. Two of the customers realized losses of approximately $78,000. In addition, there were unrealized losses in the accounts. To date, Meier’s member firm has paid a total of approximately $1,087,610 to five of the customers in connection with complaints about Meier. The findings also stated that Meier exercised discretion in five accounts belonging to four separate customers. None of the customers gave Meier written authorization to exercise discretion in their accounts, and the firm had not accepted any of the accounts as discretionary. None of the transactions were designated as discretionary in the firm’s system. The four customers suffered unrealized losses in their accounts totaling approximately $1.4 million. In addition, one of the customers realized a loss of approximately $120,000 and another realized a net loss of approximately $520,000. There were also unrealized losses in the accounts. To date, the firm has paid a total of approximately $1,078,828 to three of the customers in connection with complaints about Meier. The findings also included that Meier made inaccurate statements on four annual compliance questionnaires that he did not have any accounts in which business was transacted on a discretionary basis. (FINRA Case #2016049628301). If you or someone you know has lost money investing with Thomas Meier, call the experienced 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.