Publicly available records published by the Financial Industry Regulatory Authority (FINRA) and accessed on August 1, 2017 indicate that Florida-based Mutual Trust Company of America Securities broker Lawrence Rule has received several customer disputes and is currently not registered with any US state. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Rule (CRD# 1613163).
Lawrence Rule has spent 27 years in the securities industry and has been registered with Mutual Trust Company of America Securities in Clearwater, Florida since July 2017. Previous registrationsi nclude Freedom Investors Corporation in Atlanta, Georgia; Wells Fargo Advisors in Greensboro, Georgia; Morgan Keegan & Company in Palm Beach, Florida; CIBC World Markets in New York, New York; Painewebber in Weehawken, New Jersey; Bear Stearns & Company in New York, New York; Oppenheimer & Company in New York, New York; Drexel Burnham Lambert; and New England Securities Corporation. He is currently not registered with any US state or territory.
According to his BrokerCheck report, he has received one FINRA sanction and four customer complaints.
In 2013 FINRA sanctioned him following allegations he “engaged in unsuitable excessive trading in the brokerage account of a customer at his member firm.” He was issued a five-month suspension from associating with any FINRA member firm in any capacity.
In 2011 a party of customers alleged Lawrence Rule, while employed at Wells Fargo Advisors, breached his fiduciary duty, breached contract, committed fraud, failed in his supervisory duties, churned their account, and “routinely misled [them] to believe that the trading was safe.” The complaint settled for $120,000.
In 2010 a customer alleged Lawrence Rule, while employed at Wells Fargo Advisors, misrepresented material facts and executed excessive trades. The complaint resulted in an award to the customer of $213,725.
In 2008 a customer alleged Lawrence Rule, while employed at Wachovia Securities and Morgan Keegan & Company, breached his fiduciary duty, breached contract, fraudulently misrepresented material facts, acted negligently, and made unsuitable investment recommendations. The complaint settled for $35,000.
In 2001 a customer alleged he, while employed at CIBC World Markets, churned investments, misrepresented material facts, acted negligently, and breached contract. The complaint settled for $14,000.
If you have lost money investing with Lawrence Rule, you may be able to recover your losses. Call Fitapelli Kurta at 877-238-4175 for a free consultation. All cases are taken on a contingency basis: Fitapelli Kurta only gets paid if and when you collect funds. Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.