Sonn Law Group is investigating claims regarding Darlene Kay Bandy (CRD number 11744, Bellflower, California). Bandy recently submitted an Acceptance, Waiver & Consent (“AWC”) in which she was barred from association with any FINRA member in any capacity. See FINRA Case #2015044090401.
Bandy was associated with UBS from January 1980 until her termination in December 2014. The Form U-5 filed by UBS to terminate Bandy’s registration with UBS states “Ms. Bandy’s employment was terminated when the firm learned that she had (1) caused the firm to issue checks from a firm general ledger account payable to an external account under her control and (2) deposited those checks into that external account.”
Bandy consented to the sanction and to the entry of findings that she failed to provide FINRA-requested on-the-record testimony involving an investigation into allegations that she converted her member firm’s funds. Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, UBS may be liable for investment or other losses suffered by Bandy’s customers.
If you were a client of UBS or Bandy, and have suffered investment losses, financial irregularities, or invested in please contact Sonn Law Group to explore your legal options. Sonn Law Group is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies. To learn more, please call us at 844-689-5754 or complete our “contact form.”