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Andy Forrest Fired from Raymond James & Associates Following Alleged Loan from Client

Andy Forrest (CRD #: 2224283) was fired from his firm, according to his BrokerCheck record, accessed on August 13, 2022. Read on if you want to learn more about Andy Forrest’s conduct as a broker.

Termination from Raymond James & Associates

On June 29, 2022, Andy Forrest was fired from Raymond James & Associates after allegedly violating FINRA Rule 3240 and firm policies with respect to a loan from a client who was also a personal friend.

FINRA Rule 3240

FINRA Rule 3240 requires brokers to receive approval from their firm before lending to or borrowing from clients. This rule defines potential exceptions to this requirement, like loans with immediate family members, but brokers are also subject to firm-specific policies concerning lending.

FINRA Rule 2010

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

Background Information

Andy Forrest has passed the following exams:

  • Series 65 – Uniform Investment Adviser Law Examination
  • Series 63 – Uniform Securities Agent State Law Examination
  • SIE – Securities Industry Essentials Examination
  • Series 7 – General Securities Representative Examination

He has also worked for Raymond James & Associates (CRD#:705) and Merrill Lynch, Pierce, Fenner & Smith (CRD#:7691).

Kurta Law Can Help

If you worked with Andy Forrest 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 and 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. 

 

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