Failed to appear at a FINRA hearing for potential sales practice violations
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Former Securities America broker Bobby Wayne Coburn (CRD#: 1464789) has been barred from FINRA for failing to appear at a FINRA hearing looking into potential sales practice violations.
Coburn has 30 years of experience with nine firms, most recently with Securities America of Fort Meade, FL, (2009–2019). His FINRA record lists four disclosures.
Coburn was barred in all capacities from acting as a broker on August 26, 2019, after an entry of findings that he refused to provide FINRA with requested information and documents.
Coburn was discharged from Securities America in March 2019 after allegations that he was involved in the solicitation of multiple clients to invest in an unapproved private securities transaction and engaged in the settlement of a related customer complaint without his firm’s knowledge or consent.
In October 2018, a customer filed a dispute against Coburn alleging unsuitable investment recommendations of variable annuities, with requested damages of $5,000. The claim was settled for $54,898.34.
Coburn was the subject of another customer complaint in April 2016 alleging non payment of funds. According to the complaint, a client of Coburn’s had invested $30,000 in a Costa Rica real estate development and did not receive payments per the promissory note. The client requested damages totaling $32,000, and the claim was settled for $7,000.
Jeffrey R. Sonn is an experienced investor losses attorney. If you suffered losses because a financial professional or corporate executive misappropriated funds, Mr. Sonn will protect your rights and interests. Please do not hesitate to contact the Sonn Law Group today for a free review of your claim.