Sonn Law Group is investigating claims regarding Gregg Alan Beemer (CRD #2248923, Dayton, Ohio). Beemer recently submitted an AWC in which he was barred from association with any FINRA member in any capacity. See FINRA Case #2014043570801). Beemer formerly was associated with Lincoln Investment (June 2012 to November 2014) and Capital Analysts, Inc. (March 1993 to June 2012). FINRA found refused to appear for FINRA-requested on-the-record testimony involving an investigation into allegations that he sold private securities offerings away from his member firm without the firm’s knowledge or approval. Beemer consented to the sanction, and neither admitted nor denied FINRA’s findings.
FINRA Rule 3280, formerly NASD Rule 3040, provides that a broker may only sell securities with the knowledge and approval of his or her firm. When a broker sells securities without processing the order through the firm and without the firm’s permission or knowledge, this violates FINRA rules and is known as “selling away.” Federal and state law define securities broadly. Therefore, even products such as leasing arrangements or promissory notes, may be securities which require firm approval. Selling away often involves investment securities that are in the form of a private placement or other non-public investment.
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, Lincoln Investment or Capital Analysts, Inc., may be liable for investment or other losses suffered by Beemer’s customers.
If you were a client of Lincoln Investments, Capital Analysts, Inc., or Beemer, and have suffered investment losses or financial irregularities or invested in promissory notes or limited partnership agreements, 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.”