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Richard Linden Suspended by FINRA

Richard Linden (CRD #: 4735031), a broker registered with Equity Services, has been suspended by FINRA, according to his BrokerCheck record, accessed on December 2, 2024. Investors may have also engaged his services through ESI Financial Advisors. If you have questions about his alleged conduct as a broker, keep reading.

Suspension by FINRA

On November 26, 2024, Richard Linden consented to the entry of findings that he allegedly falsely certified to the State of New York that he had personally completed the continuing education required to renew his insurance license.

A Letter of Acceptance, Waiver & Consent (AWC) alleged that another individual completed the required 15 credits of continuing education on Richard Linden’s behalf in March 2023.

The AWC concluded that these allegations constitute violations of FINRA Rule 2010.

FINRA Rule 2010

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

Sanctions

Richard Linden consented to the following sanctions:

  • 1-month suspension from associating with FINRA members
  • $5,000 fine

His suspension will run from December 16, 2024, to January 15, 2025. You can access the full AWC here.

Investor Dispute

On March 25, 2016, an investor alleged that Richard Linden recommended an unsuitable variable annuity in March 2014. This dispute was denied by the firm.

However, investors can still pursue FINRA arbitration after a denial and potentially recover their losses.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to recommend securities that sufficiently suit an investor’s financial goals. Brokers must take into account the information described in an investor’s profile, such as their risk tolerance, investing experience, and tax status.

Investors who rely on brokers for recommendations may be able to recover their losses through FINRA arbitration.

What are Variable Annuities?

Variable annuities are complex investments. These policies can decline in value depending on the performance of the underlying securities. Surrender charges, tax penalties, and other fees can make these policies unsuitable.

Background Information

Richard Linden has passed the following exams:

  • Securities Industry Essentials Examination – SIE
  • General Securities Representative Examination – Series 7
  • Uniform Combined State Law Examination – Series 66

Richard Linden is a registered broker in nine states and a registered investment adviser in New York.

He has also worked for the following firms:

  • Ameriprise Financial Services (CRD#:6363)
  • MML Investors Services (CRD#:10409)
  • MetLife Securities (CRD#:14251)
  • AXA Advisors (CRD#:6627)
  • Merrill Lynch, Pierce, Fenner & Smith (CRD#:7691)
  • Ajaks Trading Company (CRD#:129773)

Kurta Law Can Help

If you worked with Richard Linden 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.