FINRA suspends Mason Wayne Gann (CRD #4030936, Dallas, Texas)
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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
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.
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.