Public records provided by the Financial Industry Regulatory Authority (FINRA) and accessed on April 5, 2018 indicate that former California-based Westpark Capital broker Lawrence Fawcett, who has received resolved or pending customer disputes, was recently sanctioned by FINRA and barred from acting as a broker or otherwise associating with a broker-dealer firm. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Fawcett (CRD# 5851474).
Lawrence Fawcett has spent 5 years in the securities industry and has been registered with Westpark Capital in Los Angeles, California (2015-2018). Previous registrations include Salomon Whitney Financial in Farmingdale, New York (2013-2015); Rockwell Global Capital in Melville, New York (2013); John Thomas Financial in New York, New York (2013); Rockwell Global Capital in New York, New York (2012-2013); and EKN Financial Services in Melville, New York (2012). He has has passed two securities industry examinations: Series 63 (Uniform Securities Agent State Law Examination), which he obtained on April 27, 2012, and Series 7 (General Securities Representative Examination), which he obtained on April 6, 2012. He is currently not registered with any state or firm.
According to his BrokerCheck report, he has received one customer complaint, one pending customer complaint, two FINRA sanctions, and he was discharged from his former employer in connection to alleged rule violations.
In March 2018 FINRA sanctioned him in connection to allegations he failed to produce documents and records, and to appear for on-the-record testimony, in connection to a FINRA investigation into alleged outside business activities. He was barred from acting as a broker or otherwise associating with a broker-dealer firm.
In March 2018 he was discharged from his position at Westpark Capital in connection to allegations he transacted business from “a non-disclosed location” and made misrepresentations to the firm.
In December 2017 FINRA sanctioned him in connection to allegations he made unsuitable mutual fund recommendations including Class A shares, which are “generally appropriate for investors with long-term investment horizons,” and not for the customer in question, who was working with a shorter horizon, and who did not receive available breakpoint discounts because the purchases were made from 12 separate mutual fund families. He was issued a 15-day suspension and a fine of $2,500, and was ordered to pay disgorgement exceeding $22,700.
In 2015 a customer alleged Lawrence Fawcett, while employed at Salomon Whitney, executed unauthorized transactions. The customer is seeking $20,000 in damages in the pending complaint.
In 2014 a customer alleged Lawrence Fawcett, while employed at Salomon Whitney, participated in unauthorized trading and margin use. The complaint settled in 2016 for $75,000.
If you or someone you know has lost money investing with Lawrence Fawcett, call Fitapelli Kurta at 877-238-4175 for a free consultation. You may be eligible to recoup your losses. Fitapelli Kurta 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 877-238-4175 now to speak to an attorney for free.