Barry David Abrams (Barry Abrams) Suspended from Securities Industry and Fired by Securities Service Network, Inc. – Goodman & Nekvasil P.A., May Recover Investor Losses

Goodman & Nekvasil P.A., May Recover Investor Losses - Barry David Abrams (Barry Abrams) Suspended from Securities Industry and Fired by Securities Service Network, Inc.

From 2001 until Barry Abrams’ firing in 2013, Barry Abrams was licensed with Securities Service Network, Inc. Barry Abrams was subsequently licensed with BCG Securities, Inc. and is now licensed with Ameriprise Financial Services, Inc. According to FINRA’s records, Barry Abrams was fired by Securities Service Network, Inc. on December 6, 2013. Securities Service Network, Inc. reported to FINRA that Barry Abrams was accused of exercising discretion in a client account without written authorization from the client and without firm approval. Barry Abrams admitted to FINRA that Barry Abrams “had a verbal agreement with client to execute trades as needed.” 

Subsequent to Barry Abrams’ firing by Securities Service Network, Inc., FINRA investigated Barry Abrams and brought a disciplinary action against Barry Abrams. Barry Abrams consented to a 15 day suspension from the securities and investment banking industry and a $5,000 fine. Barry Abrams also consented to the entry of findings that Barry Abrams effected approximately 87 discretionary transactions in the account of a customer (“AM”) without obtaining prior written authorization from the customer (“AM”) and without Barry Abrams’ member firm having accepted the account as discretionary in writing.

FINRA reports that a complaint was filed involving Barry Abrams’ conduct with Securities Service Network, Inc., alleging churning, misrepresentation, gross mismanagement of account and unauthorized use of discretion in the management of an account. This complaint was settled. FINRA also reports that a complaint involving Barry Abrams’ conduct with a prior employer was settled.

FINRA also reports that Barry Abrams entered into a compromise with Chase Bank. FINRA reports that Barry Abrams settled a $4,200 debt to chase for $2,100 in May 2012.

If you lost any money on investments with Barry Abrams, you may be able to recover your losses from Securities Service Network, Inc., Ameriprise Financial Services, Inc., and/or BCG Securities, Inc. This is because Securities Service Network, Inc., Ameriprise Financial Services, Inc., and BCG Securities, Inc. had a duty to supervise Barry Abrams.

If you lost money on investments with Barry Abrams, and believe that the investments may have been unsuitable or otherwise improper for you, we would like to discuss the possibility of your retaining our firm to represent you in an arbitration action against Securities Service Network, Inc., Ameriprise Financial Services, Inc., and/or BCG Securities, Inc. concerning Barry Abrams’ conduct. There is no charge for an evaluation of your case. Further, we handle our cases on a contingency fee basis. This means that unless we recover money for you, we charge no attorney’s fee. Unless you recover any money, you pay us nothing, not even the costs and expenses which the firm will advance on your behalf.

Kalju Nekvasil, Esq., formerly regional counsel with the NASD, now known as FINRA, has practiced in this area of the law for more than 35 years. Goodman & Nekvasil, P.A. has recovered more than $300 million on behalf of victimized investors. If you lost money on investments with Barry Abrams and would like your case evaluated by a securities attorney (again, there is no charge for an evaluation and all cases are handled on a purely contingency fee basis), please contact us.  

 

Keywords: Barry David Abrams, Barry Abrams, Abrams, FINRA, BCG Securities, Ameriprise Financial Services, Securities Service, SEC, Fraud, Attorney, Broker, Brokerage, Firm, Brokerage Firm, Invest, Lawyer, Securities Lawyer, Goodman and Nekvasil, Nekvasil, Goodman, Investor, Investment, Financial, Financial Services, Securities 

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