FINRA suspends Mason Wayne Gann (CRD #4030936, Dallas, Texas)
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Lost Money Investing in L3 Capital Income Fund ???
Did you or your financial advisor invest your money in L3 Capital Income Fund? Our law firm is investigating L3 Capital Income Fund, L3 Capital Advisors, Richard Cardinale and financial advisors and brokers who invested their clients’ money in L3 Capital Income Fund....read more
April 11, 2018 – An AWC was issued in which Gann was assessed a deferred fine of $5,000 and suspended from association with any FINRA member in all capacities for 20 business days. Without admitting or denying the findings, Gann consented to the sanctions and to the entry of findings that he exercised discretion in customers’ accounts without obtaining prior written authorization from the customers or prior written approval from his member firm. The findings stated that the customers verbally approved of Gann’s use of discretion to buy and sell securities in their accounts, but did not provide written authorization to do so. The firm generally prohibited its representatives from using discretion in brokerage accounts and did not approve Gann to use discretion on behalf of any customer. Despite not having the necessary written authorizations or firm approval, Gann used his discretion to make approximately 500 trades in the affected customers’ accounts.
The suspension was in effect from April 16, 2018, through May 11, 2018. (FINRA Case #2015043584401)
If you or someone you know has lost money investing with Mason Wayne Gann, 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.