Andrew Leblanc (CRD #: 2607117), a broker registered with Bruderman Brothers, has been suspended by FINRA, according to his BrokerCheck record, accessed on November 18, 2020. This is not the only disclosure on his record — investors should keep reading if they want to know more about his conduct as a broker.
On October 28, 2020, Andrew Leblanc entered into an Acceptance, Waiver & Consent (AWC) agreement with FINRA, in which he consented to the findings that between January 2012 and August 2013 he participated in two private securities transactions totaling $1.75 million. When a broker participates in private transactions outside of their business conducted through their member firm, they must provide written notice to their firm and follow the rules outlined in FINRA Rule 3280. FINRA further alleged that he used his broker-dealer’s email system to participate in these transactions. You can read a copy of the AWC here.
On June 8, 2017, clients alleged that Andrew Leblanc engaged in outside business activity, also known as “selling away.” The clients further alleged that he made unsuitable investment recommendations, misappropriated funds from the customers’ accounts, and engaged in misrepresentation and omission of material facts. The clients sought $8,000,000; the dispute settled for $2,250,000.
Andrew Leblanc has passed the Series 65 Uniform Investment Adviser Law Examination, Series 63 Uniform Securities Agent State Law Examination, The Securities Industry Essentials Examination, and the Series 7 General Securities Representative Examination. He is a registered broker in Arizona, California, Colorado, Connecticut, Florida, Illinois, Maryland, Massachusetts, Michigan, Minnesota, New Jersey, New York, North Carolina, Ohio, Oklahoma, Pennsylvania, Texas, and Virginia. He is a registered investment adviser in Texas.
During his 25 years in the securities industry, Andrew Leblanc has only worked at one other firm besides Bruderman Brothers LLC (CRD #: 47957):
- Merill Lynch, Pierce, Fenner, & Smith (CRD #: 7691)
If Andrew Leblanc was your broker and you have questions about your investments, don’t hesitate to contact the securities attorneys of Fitapelli Kurta. Call (877) 238-4175 or email firstname.lastname@example.org for your free case consultation with a securities attorney.