FINRA Suspends ANDREW HUTCHESON – Goodman & Nekvasil, P.A. May Recover Losses
FINRA suspends ANDREW HUTCHESON.
CRD#: 2539627
Call 800-500-4442 if you think that you have received unsuitable investment recommendations from your adviser.
ANDREW ROBERT HUTCHESON (CRD#: 7057393), a registered broker for WEDBUSH SECURITIES INC., in Pasadena, CA, is suspended from the securities industry. Hutcheson consented to the sanctions and to the entry of findings that he engaged in an OBA without providing prior written notice and receiving approval from his member firm.
The FINRA findings stated that Hutcheson signed an independent contractor agreement with a company while associated with his firm in which he, among other things, agreed to assist the company to develop its business plan, negotiate partnerships, and to introduce potential investors to the company. The agreement provided that after the company obtained financing, it would pay Hutcheson a monthly fee and a percentage of the funds raised by investors.
Three of Hutcheson’s customers from his firm invested in the company for which Hutcheson received $13,500. Hutcheson was required to submit a compliance questionnaire disclosing any OBAs to his firm but did not disclose his involvement with company on it.
Hutcheson was suspended for 30 days and fined $5,000.00.
St. Petersburg, Florida law firm Goodman & Nekvasil, P.A., has a national practice representing victimized investors. The firm continues to investigate brokerage firms that placed elderly retirees and other conservative investors in unsuitable investments.
Goodman & Nekvasil, P.A., has filed numerous cases against brokerage firms selling high-risk investments and has recovered more than $400 million dollars on behalf of victimized investors.
We allege in these cases that these investment recommendations were unsuitable for our clients in view of their financial situation, needs and investment objectives.
There is no charge for an evaluation of your case. We handle our cases on a contingency fee basis. This means that unless we recover money for you, we charge no attorney’s fee.
If you incurred losses on your investment and would like your case evaluated by a securities attorney, please contact us.
Some of the information in this blog post was obtained from FINRA on 10/15/24. If you believe this information was reported incorrectly, please contact our firm: 1-800-500-4442.