Timothy Edward Johnson, a former broker and registered investment adviser, was barred by the Financial Industry Regulatory Authority (FINRA) on the allegations of his failure to respond to FINRA’s request for information which is a violation of FINRA Rule 8210, according to an investigation by investor rights attorney, Alan Rosca.
Investor rights attorney Alan Rosca, of the Rosca Scarlato LLC law firm is investigating alleged conduct related to the violation of FINRA Rules by Timothy Johnson in his alleged refusal to respond to FINRA’s request for information. Prior to this allegation, Timothy Johnson was a registered broker with MML Investors Services LLC, a FINRA member firm. However, he was not in the employment of any firm as at the time this allegation was brought against him in 2019.
Timothy Johnson Was Barred by FINRA
According to the reports on Timothy Johnson’s FINRA Brokercheck page, Timothy Johnson was alleged to have failed to respond to FINRA’s request for information, and as a result, he was barred indefinitely in all capacities. Owing to his failure to comply with FINRA Rule 8210 on the request for information, FINRA Rule 9552 was invoked against him. This implies that he was allegedly issued a Letter of Notice of Suspension on September 9, 2019 and a Letter of Suspension from Association on October 4, 2019. Pursuant to the provisions of this rule, the respondent, who in this case is Timothy Johnson had the opportunity to request a termination of suspension within three months of the date of the issuance of the Letter of Notice of Suspension. Timothy Johnson also allegedly failed to make this request and following from that, Timothy Johnson was barred from the association indefinitely on December 12, 2019.
According to the information available on his Brokercheck page, he was allegedly discharged from his previous place of employment in connection with this investigation which centered on his alleged diversion of customer funds for his personal use.
Timothy Johnson Under Pending Investigation
In connection with Timothy Johnson’s termination from MML Investor Services LLC, Jeffrey Schriver of the Pennsylvania Insurance Department also opened an investigation. The investigation is an investigation of the “for cause” employment termination of Timothy Johnson. This seeks to investigate the claims that the registered representatives diverted customer funds for his own use as raised by the firm.
Finally, it is important to note that, as of the date of this article, there has not been a finding of liability as to the complaints or allegations mentioned in this article, unless otherwise indicated. Any reader should also read the original sources hyperlinked in this blog for accuracy, including any BrokerCheck report and/or record of any disciplinary or regulatory action. Those sources are incorporated by reference into the text of this blog, and are the governing materials in case of any inconsistencies or typos in this blog.
Securities Lawyer Investigating
The Rosca Scarlato LLC law firm represents investors who lose money as a result of broker misconduct and is currently investigating conducts related to Timothy Johnson’s bar from failure to respond to FINRA’s request for information. 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, and has represented thousands of victimized investors across the country and around the world in cases ranging from arbitrations to class actions.
Investors who believe they lost money as a result of conducts related to Timothy Johnson’s bar from failure to respond to FINRA’s request for information may contact attorney Alan Rosca for a free no-obligation evaluation of their recovery options, at 888-998-0530, via email at arosca@rscounsel.law, or through the contact form on this webpage.