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Timothy Derouin Allegedly Moved Funds without Investor Consent 

Aug 21, 2023 Unauthorized Trading

Timothy Derouin (CRD #: 2554447), a broker registered with Northwestern Mutual Investment Services, is the subject of an investor dispute, according to his BrokerCheck record, accessed on August 18, 2023. Details concerning the dispute are provided below. 

On June 20, 2023, Timothy Derouin faced an investor dispute alleging he moved funds from his customer’s IRA to open a fixed-income annuity without consent. The investor is seeking $100,000 but the firm denied the dispute. Investors should know, however, that firms can deny disputes without any external review. Following a denial, investors may still be able to recover their funds via FINRA arbitration.

FINRA Rule 3260 

Unauthorized trading violates FINRA Rule 3260, which limits brokers to exercising their trading discretion in pre-approved discretionary accounts.

FINRA Rule 2010

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

Background Information 

Timothy Derouin 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 6 Investment Company Products / Variable Contracts Representative Examination 
  • Series 26 Investment Company Products / Variable Contracts Principal Examination 

He is a registered broker in 30 states and is a registered investment adviser in Iowa. 

Timothy Derouin has registered with the following firms: 

  • Northwestern Mutual Investment Services (CRD #: 2881) 
  • Robert W Baird & Co. Incorporated (CRD #: 8158) 

Kurta Law Can Help

If you worked with Timothy Derouin and you have concerns about your investments, please contact us today at 877-600-0098 or 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.