Broker Investigation: Frederick David Holloway of Easton, Maryland

Frederick-David-Holloway On April 2nd, 2018, the Financial Industry Regulatory Authority (FINRA) announced that Frederick David Holloway (CRD#: 248814), a registered broker based in Easton, Maryland, has been named as the respondent in a securities complaint.

Mr. Holloway is the owner of Holloway & Associates Inc., a Maryland-based brokerage firm.

Here, our securities fraud lawyers provide a brief overview of the allegations against Mr. Holloway. All information contained within this article comes directly from FINRA’s records.

For full information regarding this case, please refer to the official complaint: FINRA Disciplinary Proceeding No. 2016050025401.

The Allegations Against Frederick David Holloway

The alleged misconduct in this case occurred between January of 2013 and June of 2016. According to the FINRA complaint, Mr. Holloway recommended that investors exchange one type of deferred variable annuity (VA) to an alternative type of deferred variable without any reasonable basis.

More specifically, FINRA alleges that Mr. Holloway instructed investors to switch from a lower cost VA to a high cost VA in 43 different circumstances. As a result, these investors were pushed into unsuitable investments.

While Mr. Holloway made additional money in commissions, his customers actually ended up in a worse financial position, paying surrender charges and higher fees for a fundamentally similar investment.

FINRA alleges that Mr. Holloway violated rules 2330 and 2010. In addition, the investigators believe that Mr. Holloway falsified documents and altered paperwork to execute these transactions. Shockingly, there are also allegations that Mr. Holloway had his assistant impersonate customers on certain phone conversations.

As of early May of 2018, this case is still pending. No sanctions have yet been issued against Frederick David Holloway.

Invest with Holloway & Associates? Speak to an Investment Fraud Attorney Today

At Sonn Law Group, our legal team is committed to advocating for the rights of investors throughout the United States. If you need legal guidance, please contact us today to arrange a free, no obligation consultation.


Disclaimer: This article contains opinions and NOT statements of fact in any way whatsoever. The information here is general information that should not be taken as legal advice. NO attorney-client relationship is established between you and our attorneys by reading this article. This article is attorney advertising and should not be used as a substitute for legal advice from a qualified securities lawyer.

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