John Derbin Suspended by FINRA Following Alleged Impersonation
John Derbin (CRD #: 3183322), a broker registered with Lifemark Securities Group, was recently suspended by FINRA, according to his BrokerCheck record, accessed on July 9, 2022. Keep reading if you have questions about John Derbin’s conduct as a broker.
FINRA Suspension
A letter of Acceptance, Waiver & Consent (AWC) filed on May 24, 2022, alleges that John Derbin impersonated a client on a phone call with a financial services company.
According to the AWC, John Derbin’s client wanted to transfer her retirement plan to a new fund provider. He allegedly attempted a three-way phone call with the client and her current fund provider on August 27, 2021. When the client did not answer the call, John Derbin allegedly identified himself as the client and provided information such as their date of birth, social security number, and account number as evidence.
John Derbin allegedly asked the fund provider what kind of retirement plan the client owned, which the fund provider refused to answer. Lastly, the AWC alleges that John Derbin twice falsely stated that he believed the client was on the line for this call.
The AWC concludes that this alleged impersonation violated FINRA Rule 2010.
FINRA Rule 2010
FINRA Rule 2010 holds brokers to high standards of professional honor and ethical behavior.
Sanctions
John Derbin consented to the following sanctions:
- $2,500 fine
- 10 business-day suspension from associating with any FINRA members
His suspension began on June 21, 2022, and ended on July 5, 2022.
You can read the full AWC here.
Background Information
John Derbin has passed the following exams:
- Series 66 – Uniform Combined State Law Examination
- SIE – Securities Industry Essentials Examination
- Series 31 – Futures Managed Funds Examination
- Series 7 – General Securities Representative Examination
John Derbin is a registered broker in 10 states and a registered investment adviser in seven states.
He has also worked for the following firms:
- Foresters Equity Services (CRD#:18464)
- Advance Capital Services (CRD#:19347)
- Banc One Securities (CRD#:16999)
- Morgan Stanley DW (CRD#:7556)
Kurta Law Can Help
If you worked with John Derbin 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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