FINRA Suspends Andrew Mandala for Second Time

Andrew Mandala (CRD #: 2509012), a broker formerly registered with Burch & Company, has been suspended by FINRA, according to his BrokerCheck record, accessed on March 15, 2025. Read on if you want to know more about his alleged conduct as a broker.

2025 FINRA Suspension

On February 21, 2025, FINRA sent Andrew Mandala a Letter of Suspension alleging that he failed to comply with an arbitration award/settlement agreement or to sufficiently respond to a request for information as to his compliance.

These allegations were made in relation to an arbitration award filed on December 27, 2024. Andrew Mandala and another claimant alleged that Deutsche Bank Securities violated FINRA Rule 2010 and engaged in misrepresentation and failure to supervise in relation to the claimants’ employment and book of business.

These claims were denied and Andrew Mandala was made jointly and severally liable for a monetary sanction of $6,441.50. You can access the arbitration award here.

Andrew Mandala’s suspension will continue until the required payment is made or discharged.

FINRA Rule 2010

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade.

FINRA Rule 3110

FINRA Rule 3110 requires that firms establish systems of supervision to maintain their compliance with securities regulations. This includes appointing supervisors and providing them with Written Supervisory Procedures (WSPs).

Article VI, Section 3 of FINRA By-Laws

Article VI, Section 3 of FINRA By-Laws allows FINRA to suspend or cancel the membership of any member who fails to comply with arbitration awards or settlement agreements.

FINRA Rule 9554

FINRA Rule 9554 penalizes brokers for failing to comply with arbitration awards or settlements by suspending or canceling their registration. Brokers can request a hearing within 21 days, after which their suspension or cancellation becomes final.

2019 FINRA Suspension

On December 13, 2019, Andrew Mandala received a Letter of Suspension alleging that he failed to comply with an arbitration award/settlement agreement or to satisfactorily respond to a request for information about his compliance.

His suspension took effect on January 21, 2020, and will continue indefinitely until the required payment is made or discharged.

Background Information

Andrew Mandala has passed the following exams:

• Securities Industry Essentials Examination – SIE
• Futures Managed Funds Examination – Series 31
• General Securities Representative Examination – Series 7
• Uniform Securities Agent State Law Examination – Series 63

He previously worked for the following firms:

• Burch & Company (CRD#:102280)
• Raymond James & Associates (CRD#:705)
• Deutsche Bank Securities (CRD#:2525)
• Wachovia Securities (CRD#:19616)
• Prudential Securities (CRD#:7471)

Kurta Law Can Help

If you worked with Andrew Mandala and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm that exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.