Royceton Pinder Embroiled in Dispute Alleging Fraud and Misrepresentation
Royceton Pinder (CRD #:2006101), a broker and investment advisor registered with MML Investors Services, is involved in an investor dispute, according to his BrokerCheck record, accessed on December 10, 2021.
According to the allegations filed on October 7, 2021, Royceton Pinder told his client that there would be no charges associated with a transfer of funds that the client had initiated from his 401k to his existing variable annuity. Despite this, the investor claims forms were sent to him that reflected surrender charges. He allegedly presented him with a contract telling him if he didn’t sign, he might lose his investment; the client further alleged that Royceton Pinder changed the contract after the client had signed it. The case is pending.
Fraud and Misrepresentation
What is Forgery?
Forgery is the illegal act of altering documents or using false signatures with the intention to commit fraud. This unethical conduct violates FINRA Rule 2010, which states that brokers must uphold high standards of commercial honor. It also violates The Securities Act of 1933, which prohibits deceit and manipulation in the sale of securities.
What is Misrepresentation?
Misrepresentation is a common problem in the securities industry. It usually occurs when an investment broker makes false or misleading statements about a financial product in an effort to persuade their customer to invest.
Did you know that any of the following can be considered misrepresentation or omission?
- Inadequate due diligence concerning security offerings
- Failure to disclose all material risks
- Failure to disclose all transaction costs
- Unrealistic investment return projections
- Inaccurate investment performance calculation
Misrepresentations and omissions concerning material facts in investment recommendations deprive investors of the information they need to assess risks associated with a particular investment. FINRA Rule 2020 prohibits brokerage firms and stockbrokers from making material misrepresentations or inducing people into buying investments with false statements about their potential benefits. This unethical conduct also violates FINRA Rule 2010, which states that brokers must uphold high standards of commercial honor.
Losses that can be attributed to a stockbroker’s material misrepresentations of facts may result in a securities arbitration claim for damages.
Royceton Pinder 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 6 – Investment Company Products/Variable Contracts Representative Examination
He is a registered broker in nine states and is also a registered investment advisor in California and Texas.
Other than MML Investors Services, Royceton Pinder has also worked with the following firms:
- MSI Financial Services (CRD#:14251)
- Valic Financial Advisors (CRD#:42803)
- The Variable Annuity Marketing Company (CRD#:5081)
- Cal Fed Investments (CRD#:19631)
- Invest Financial Corporation (CRD#:12984)
Kurta Law Can Help
If you have worked with Royceton Pinder and have concerns about your investments, don’t hesitate to contact us today at 877-600-0098 or firstname.lastname@example.org for a free consultation.
For nearly 20 years, Kurta Law has advocated for investors 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.