Timothy John Beall Allegedly Engaged in Selling Away, Misrepresentation, & Unsuitable Investments while Registered at National Planning Corp.
Timothy John Beall allegedly engaged in selling away, misrepresentation, and unsuitable investments while registered at National Planning Corp., all according to a customer complaint disclosed in publicly available records maintained by the Financial Industry Regulatory Authority (FINRA).
The investor rights lawyers at Goldman Scarlato & Penny law firm are investigating Mr. Beall’s conduct to determine whether any investors may have claims for alleged selling away, misrepresentation, and unsuitable investments may contact investor rights attorney Alan Rosca to provide information or inquire about their legal options.
Said claim is still pending, was filed on June 5, 2018, and the damage requested is $700,000, FINRA notes. Timothy Beall was registered at National Planning Corporation in Eau Claire, MI from July 7, 2008 through April 14, 2016, FINRA states.
Timothy Beall Has Been Suspended by FINRA after Allegedly Engaging in Two Outside Business Activities
Timothy Beall, in a FINRA regulatory action filed on March 8, 2018, reportedly consented, without admitting or denying the findings, to sanctions and to the entry of findings that he exceeded the scope of his member firm’s approval to conduct two outside business activities, FINRA notes.
The findings stated that Beall allegedly received approval from National Planning to engage in an outside business activity with his stated role as “Business Development” and disclosed his annual income from this activity as “0”, FINRA reports. Beall allegedly provided services to the company that built and leased greenhouses in Colorado, which allegedly exceeded the scope of his disclosed activities that the firm approved and for which he received compensation, FINRA states.
Beall also had a judgement/lien leaned filed in 2010 for the amount of $12,680.19, FINRA notes.
Brokerage firms such as National Planning Corporation have a responsibility to adequately supervise all of their registered representatives who are employed through their firm, to prevent violations of securities rules and regulations. Brokerage firms also must initiate action to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies. If and when brokerage firms fail to adequately supervise their registered representatives, they may be held liable for investment losses sustained by customers.
Securities Lawyer Investigating
The Goldman Scarlato & Penny PC law firm represents investors who lose money as a result of investment-related fraud or misconduct and are currently investigating Timothy John Beall‘s alleged practices of selling away, misrepresentation, and unsuitable investments. 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 securities class actions.
If you or a loved one or a friend has lost money investing with Timothy John Beall, you may contact attorney Alan Rosca or his colleagues for a free no-obligation evaluation of their recovery options, at 888-998-0530, via email at email@example.com, or through the contact form on this webpage.