Russell W. Newton Allegedly Engaged in PotentialViolations of Securities Laws

Russell Newton allegedly engaged in potential securities law violations, according to a recent Letter of Acceptance, Waiver and Consent (AWC) currently under review by attorney Alan Rosca.

Attorney Alan Rosca, of the RoscaLaw LLC firm, is investigating activity related to Russell Newton’s alleged participation in potential securities law violations. Investors who believe they may have lost money in activity related to Russell Newton’s alleged participation in potential securities law violations are encouraged to contact attorney Alan Rosca with any useful information or for a free, no obligation discussion about their options.

Russell was registered with Source Capital Group, of Westport, Connecticut, from December 2001 to October 2016, the aforementioned AWC states. Newton worked for Source in the following capacities:

  • •   General Securities Representative
  • •   Municipal Securities Principal
  • •   Operations Principal
  • •   Financial Principal

Newton has a decades-long in the securities industry going way back to 1982, and, according to his FINRA BrokerCheck Report, he has been the subject of five regulatory sanctions, three customer complaints, and one pending customer complaint. His previous registrations included Merit Capital Associates in Westport, Connecticut and Pendrick Reeves Associates and Glen Rauch Securities in New York, New York, his FINRA BrokerCheck notes.

Russell Newton also has served as Chief Financial Officer at Source Capital Group, Inc. and  was involved in the firm’s investment banking business and was also responsible for all financial aspects of Source Capital’s business, according to reports from Westport, Connecticut.

Russell Newton Has Been Barred by FINRA

Russell W. Newton, as related to FINRA’s investigation regarding potential violations of securities law during the aforementioned time when he was associated with Source Capital Group, was given a request from FINRA staff that he appear for on-the-record testimony pursuant to FINRA Rules, according to the aforementioned AWC currently under review by attorney Alan Rosca.

Newton, allegedly acknowledged that he received FINRA’s request and purportedly made statements that he would not provide on-the record testimony at any time, as stated in conversations with FINRA staff on May 19, 2017, the AWC notes.

Newton, by allegedly making refusals to provide on-the-record testimony as requested pursuant to FINRA Rules, purportedly violated FINRA Rules. Newton has thus been barred by FINRA, the AWC states.

Although Newton is not currently associated with a FINRA member firm, FINRA retains jurisdiction over him pursuant to FINRA’s By-Laws, the AWC notes.

One should also make note that, according to the AWC, Russell W. Newton neither admitted nor denied the FINRA findings.

Securities Lawyer Investigating

The RoscaLaw firm represents investors who lose money as a result of investment-related fraud or misconduct and are currently investigating Russell Newton’s alleged participation in potential securities law violations. The firm takes most cases of this type on a contingency fee basis and advance the case costs, and only gets paid for their fees and costs out of money recovered for clients. Attorney Alan Rosca, a securities lawyer and adjunct professor of securities regulation, has represented thousands of victimized investors across the country and around the world in cases ranging from arbitrations to class actions, and has helped recover tens of millions of dollars on behalf of investors.

Investors who believe they lost money as a result of Russell Newton’s alleged participation in potential securities law violations may contact attorney Alan Rosca for a free no-obligation evaluation of their recovery options, at 888-998-0530, via email at arosca@roscalaw.com, or through the contact form on this webpage.

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In our legal system, every person is innocent until and unless found guilty by a court of law or a tribunal. Whenever we reference “allegations” or charges that are “alleged,” such allegations or charges have not been proven, and are merely accusations, not findings of fault, as of the date of the blog. We do not have, nor do we undertake, a duty to continue to monitor or follow cases about which we report, and/or to publish subsequent updates regarding various developments that may occur in such cases. Readers are encouraged to conduct their own research regarding any such cases and any developments that may or may not have occurred in such cases. Also, the brokercheck report linked to some of our blogs is the up-to-date version as of the date of posting. Visitors may check the most recent version of each brokercheck report at www.finra.org.