Andrew J LeBlanc II (Andrew LeBlanc) – Financial Advisor/Broker Andrew LeBlanc Suspended from Securities Industry | Goodman & Nekvasil, P.A. May Recover Investor Losses
Andrew LeBlanc is a licensed financial advisor with Bruderman Brothers LLC. According to FINRA, Andrew LeBlanc was suspended from the securities industry for six months and fined $20,000, in October 2020.
According to FINRA Allegations:
FINRA began an investigation into this matter in June 2017 after receiving notice of the firm’s amended Form U5 described above.
NASD Rule 3040 prohibits any person associated with a member from “participat[ing] in any manner in a private securities transaction” without first providing written notice to his member firm.1 NASD Rule 3040(e) defines a private securities transaction as any securities transaction outside of the regular course or scope of an associated person’s employment with a member. Participation in a private securities transaction includes not only making the sale, but also, for example, “referring customers, introducing customers to the issuer, [and] arranging and/or participating in meetings between customers and the issuer.”2 A violation of NASD Rule 3040 is also a violation of FINRA Rule 2010.
Between January 2012 and August 2013, LeBlanc participated in two private securities transactions involving $1.75 million in securities. First, LeBlanc participated in the purchase by a customer of a $500,000 membership interest in a closely held film company organized as an LLC. Second, LeBlanc participated in the sale of $1.25 million in preferred stock in a closely held men’s apparel company to an investor group consisting of the first customer and two other customers. He used the firm’s email system to participate in these transactions.
LeBlanc neither originated the customers’ investments nor did he recommend that the customers purchase the securities. However, he participated in the purchases by arranging for and attending a meeting between the first customer and the president of the closely held LLC, and by attending a meeting between the two other customers and a major shareholder of the second company. He received legal documentation from the customers’ attorney and forwarded that documentation to his clients. He was instructed by two of his clients to pay for the investments from their firm accounts. He also discussed the investments with executives of both companies; the customers; and the customers’ attorney. Although the companies are still operating, the three customers are unlikely to receive any return on these investments.
Goodman & Nekvasil P.A. May Recover Investor Losses
If you lost money on investments with Andrew LeBlanc and believe 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 concerning Andrew LeBlanc’ 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 $200 million on behalf of victimized investors. If you lost money on investments with Andrew LeBlanc 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.
Some of the information in this blog post was obtained on 10/29/2020 directly from FINRA BrokerCheck, without any changes. If you believe this information was reported incorrectly, please contact our firm at 1-800-500-4442.