Lawrence Goldstein Barred from the Securities Industry by FINRAPublicly available records provided by the Financial Industry Regulatory Authority (FINRA) indicate that broker Lawrence Goldstein (CRD # 2282699) was recently barred from the securities industry by FINRA’s Department of Enforcement. The sanction occurred as a result of an investigation into unsuitable excessive trading (“churning”) in customer accounts.

The Law Office of Kevin J. Deloatch, Esq. is interested in speaking to investors who have complaints regarding Mr. Goldstein.

Registration Background for Lawrence Goldstein

Mr. Goldstein first became registered in the securities industry in 1992. He was most recently registered with Sparks, NV based McNally Financial Services Corporation (CRD # 121196) from April 2010 to February 2020. His prior registrations include JHS Capital Advisors, Inc. (CRD # 112097) from September 2005 to April 2010 and Sterling Financial Investment Group, Inc. (CRD # 41506) from March 2001 to September 2005.

FINRA’s Allegations against Lawrence Goldstein

According to FINRA Letter of Acceptance, Waiver and Consent (AWC) dated November 3, 2020, Mr. Goldstein consented to, without either admitting to or denying, the following findings by FINRA’s Department of Enforcement:

  • On October 30, 2020, in connection with an investigation into whether [Mr.] Goldstein engaged in unsuitable excessive trading in a customer’s account, FINRA staff sent [Mr.] Goldstein a written request for on-the-record testimony, pursuant to FINRA Rule 8210”;
  • FINRA Rule 8210(a)(1) states, in relevant part, that FINRA “may require a…person associated with a member, or any other person subject to FINRA’s jurisdiction to provide information orally, in writing, or electronically . . . and to testify at a location specified by FINRA staff . . . with respect to any matter involved in [a FINRA] investigation”;
  • FINRA Rule 8210(c) states that “[n]o . . . person shall fail to provide information or testimony… pursuant to this Rule”;
  • As stated during a phone call with FINRA staff on November 2, 2020, an in an email to FINRA staff on November 2, 2020, and by this agreement, [Mr. Goldstein] acknowledges that he received FINRA’s request and will not appear for on-the-record testimony at any time”; and
  • By refusing to appear for on-the-record testimony as requested pursuant to FINRA Rule 8210, [Mr. Goldstein] violated FINRA Rules 8210 and 2010 [regarding standards of commercial honor and principles of trade].

FINRA Sanctions Lawrence Goldstein

As a result of such violations and in addition to the above described findings and conclusions, FINRA’s November 3, 2020 AWC also indicates that Mr. Goldstein consented to the following sanction(s):

  • A bar from associating with any FINRA member in any capacity.

Lawrence Goldstein has No History of Customer Complaints

In addition to the findings of FINRA’s Department of Enforcement, FINRA BrokerCheck for Mr. Goldstein reveals he has no history of customer complaints and/or customer initiated arbitrations.

If you or someone you know has or had a brokerage account with Lawrence Goldstein and have concerns regarding losses in your investments or possible sales practice violations including fraud, you may be entitled to recover lost funds. The Law Office of Kevin J. Deloatch, Esq. has an extensive securities law practice and over 30 years of experience on Wall Street. Call today at (646) 792-2156 for a free consultation. The time to file your claim may be limited so you should call today to avoid delay.