Nancy Gaumer Suspended By FINRA Following Investigation
Nancy Gaumer (CRD #: 1606316), a broker registered with BestVest Investments, has been suspended by FINRA, according to her BrokerCheck record, accessed on September 23, 2021. This followed an investigation prompted by a call to the FIRNA Securities Helpline for Seniors. This helpline is for seniors who have concerns about the handling of their brokerage accounts.
Elder financial abuse is a special concern for FINRA. In fact, calls to the FINRA Securities Helpline led FINRA to create rules designed to protect senior investors. These rules allow firms to place temporary holds on disbursements of funds when there is a reasonable belief that financial exploitation may have occurred.
On August 12, 2021, Nancy Gaumer entered into an Acceptance, Waiver, and Consent agreement (AWC), in which she consented to the findings that she failed to disclose an outside brokerage account at a FINRA member firm. According to the findings, Nancy Gaumer opened a joint brokerage account “with a close friend” and did not provide written notice to her former member firm. FINRA further alleges that Nancy Gaumer circumvented firm procedures by submitting firm questionnaires containing material omissions regarding the outside brokerage account and her power of attorney designation. As part of the terms of the AWC, Nancy Gaumer consented to a 45-day suspension and a $7,500 fine. You can read a copy of the AWC here.
Nancy Gaumer Background Information
Gaumer has passed the following exams:
- Series 63 Uniform Securities Agent State Law Examination
- Securities Industry Essentials Examination
- Series 6 Investment Company Products/ Variable Contracts Representative Examination
She is a registered broker in five states.
Gaumer has worked for the following firms
- Bestvest Investments (CRD #: 40302)
- Signator Investors (CRD #: 468)
- MML Investors Services (CRD #: 10409)
- Valley National Investment (CRD #: 16715)
- Chubb Securities Corporation (CRD #: 3870)
- The Prudential Insurance Company of America (CRD #: 680)
- Pruco Securities Corporation (CRD #: 5685)
- NYLife Securities (CRD #: 5167)
Kurta Law Can Help
If you worked with Nancy Gaumer and you have concerns about your investments, contact Kurta Law today. Call 212-658-1502 or email email@example.com.