February 2018-The Woodlands, TX -Fincastle, VA
According to publicly available records Erryn Michael Barkett , (CRD# 4102279) , a currently unregistered stockbroker who was last employed by LPL Financial, disclose a recent regulatory sanction, 2 pending customer disputes, 3 prior customer disputes and 6 financial disclosures.
The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.
In 2/2016, Barkett was sanctioned by the Virginia State Corporation Commission who alleged the sale of unsuitable and unregistered securities and the omission of material information in the sale of those securities causing investors to lose $330,000. Barkett was ordered to pay restitution of $15,000 by the Virginia regulators.
Public records disclose that Barkett’s prior employer NEXT Financial Group paid over $310,000 to settle the claims of four customers who alleged that Barkett sold them fraudulent unregistered products involving structured military pension investments in Voyager Financial Group.
In pending FINRA Case 17-0132 customers of NEXT Financial Group are seeking damages of $310,000 and allege that between 2009 and 2013 Barkett recommended that they invest in various fraudulent companies and recommended nearly $650,000 in illiquid and poor performing alternative investments, REITs and annuities.
In a case pending in Botetourt County Circuit Court in Fincastle, VA, a customer of NEXT Financial Group has filed an action seeking damages of $78,000 alleging that Barkett sold unregistered securities in a military pension product that were not suitable.
Barkett was employed by NEXT Financial Group 3/2008-1/2013 and with LPL Financial 1/2013-8/2017.
If you have questions about an account handled by Erryn Michael Barkett, contact us to learn how damages may be recoverable through FINRA arbitration.
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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