Category Archives: Direct Capital Securities

Dalton Strategic Investment Services Stock Broker Sanctioned Over Annuity Sales- Coral Gables, FL

October 14, 2015-Coral Gables, FL

Andrew M. Abern , entered into a Letter of Acceptance Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA) to resolve allegations that he failed to appear at an on the record interview requested by FINRA to answer questions relating to recommendations he made to customers regarding the purchase and sale of variable annuities.

AWC No.  2015043654301

Abern was barred from the securities industry.

This was not Abern’s first regulatory issue involving the sale of annuities. In 2012, FINRA accepted a Letter of Acceptance, Waiver and Consent in which Abern,  consented to findings by FINRA that he violated NASD Conduct Rules 2310 and 2111 by providing customers with variable annuity expense disclosure forms that understated the annual expenses, and by engaging in an unsuitable transaction with a customer. Abern consented to a $25,000 fine in that matter.

According to FINRA records,Abern  was registered with Dalton Strategic Investment Services  from 2/2010-9/2014. Prior to that he was registered with Direct Capital Securities from 6/2008-2/2010.

If you have losses in an account handled by Abern, you may be able to recover damages from the firm that employed him.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

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