John Doiron is the Subject of a GWG L Bond Dispute

John Doiron (CRD #: 5305305), a broker registered with Cabot Lodge Securities, is the subject of an investor dispute, according to his BrokerCheck record, accessed on September 15, 2023. Keep reading if you have questions about his alleged conduct. 

On August 1, 2023, an investor alleged that John Doiron breached his fiduciary duty and engaged in negligence when he recommended GWG L Bonds. The investor further alleges misrepresentation and a violation of Regulation Best Interest. GWG Holdings has filed for bankruptcy and L bondholders have suffered significant losses. The investor is seeking $50,000. 

There is a similar dispute dated September 26, 2022. The investor alleged John Doiron violated the New Mexico Uniform Securities Act and violated Regulation Best Interest with his recommendation of GWG L bonds in 2018. The investor is seeking $60,000. 

Regulation Best Interest

Regulation Best Interest (Reg-BI) is an SEC regulation that requires brokerage firms to put their clients’ best interests first. For example, firms must conduct reasonable due diligence when researching investments to ensure their recommendations are suitable for the investor.

FINRA Rule 2020

FINRA Rule 2020 prohibits the misrepresentation of investments or omission of material facts. Material facts include information about an investment’s potential returns, as well as charges, expenses, and fees. Brokers must always disclose the risks associated with illiquid investments, such as the risk of losses.

Negligence

Many types of broker misconduct may qualify as negligence. Typical examples include unsuitable investment recommendations, misrepresentations or omissions of material fact, and failure to follow instructions.

Investors who believe their losses are the result of broker negligence may be able to recover their funds through FINRA arbitration.

Background Information 

John Doiron 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 
• Series 62 Corporate Securities Limited Representative Examination 
• Series 22 Direct Participation Programs Representative Examination 
• Series 26 Investment Company Products / Variable Contracts Principal Examination 

He is a registered broker in 23 states and D.C. He is a registered investment adviser in 11 states. 

John Doiron has registered with the following firms: 

• Cabot Lodge Securities (CRD #: 159712) 
• CL Wealth Management LLC (CRD #: 134922) 
• Allied Beacon Partners (CRD #: 46227) 
• QA3 Financial Corp. (CRD #: 14754) 

Kurta Law Can Help

If you worked with John Doiron 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.