Benjamin Benoit Lowder, Jr., Registered Rep Formerly with MSI Financial Services, Inc. Has Been Sanctioned by FINRA for Failure to Cooperate with a FINRA Investigation
Publicly available records recently provided by the Financial Industry Regulatory Authority (FINRA) indicate that broker/advisor Benjamin Benoit Lowder, Jr. (CRD # 3014106), formerly with Charlotte, NC based MSI Financial Services, Inc. (CRD # 14251) was recently sanctioned by FINRA’s Department of Enforcement for failing to cooperate with a FINRA investigation. The Law Office of Kevin J. Deloatch, Esq. is interested in speaking to investors who have complaints regarding Mr. Lowder, Jr.
Mr. Lowder, Jr. has been registered in the securities industry since 1998 and has been with MSI Financial Services, Inc. (f/k/a MetLife Securities Inc.) from August 2000 until his voluntary termination in February 2017. His prior registrations included Metropolitan Life Insurance Company (CRD # 4095) from August 2000 to July 2007 and Jefferson Pilot Securities Corporation (CRD # 3870) from May 1998 to August 2000.
FINRA’s Finding and Conclusions
According to FINRA Letter of Acceptance, Waiver and Consent (AWC) dated October 2, 2019, Mr. Lowder, Jr. consented to the following findings by FINRA’s Department of Enforcement, without either admitting or denying:
- On May 23, 2018, MSI Financial Services, Inc. filed a notice of termination regarding Mr. Lowder, Jr.;
- The stated reason for termination was “[the subject of two civil lawsuits alleging unfair and deceptive trade practices and state securities fraud regarding investments in fictitious securities;
- MSI Financial Services, Inc. amended Mr. Lowder, Jr’s Form U5 again on November 12, 2018; January 28, 2019; April 4, 2019 and July 22, 2019 to report similar additional lawsuits;
- On September 3, 2019 FINRA sent a request to Mr. Lowder, Jr. to appear for on-the-record testimony in furtherance of an investigation of the reporting on his form U5; and
- On September 16, 2019, Mr. Lowder, Jr. through counsel acknowledged that he had received FINRA’s request and advised that he would not appear for on-the-record testimony.
FINRA Sanctions Benjamin Benoit Lowder, Jr.
Pursuant to FINRA Rule 8210, registered individuals are required to provide information with respect to a FINRA investigation. Violation FINRA Rule 8210 is also a violation of FINRA Rule 2010, which requires associated persons to “observe high standards of commercial honor and just and equitable principles of trade.” As a result of such violation and in addition to the above described findings and conclusions, FINRA’s October 2, 2019 AWC also indicates that Mr. Lowder, Jr. consented to the following sanction:
- Being barred from associating with any FINRA member firm in any and all capacities.
If you or someone you know has or had a brokerage account with Benjamin Benoit Lowder, Jr. and have concerns regarding losses in your investments or possible 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.