Roy Alame – Financial Advisor/Broker Suspended from Securities Industry | Recover Investment Losses

Roy Alame – Financial Advisor/Broker Suspended from Securities Industry | Goodman & Nekvasil, P.A. May Recover Investor Losses

Roy Alame a/k/a Rawad Roy Alame CRD #5376696

Roy Alame a/k/a Rawad Roy Alame is a previously licensed financial advisor with Merrill Lynch. According to Alame’s BrokerCheck Report, Alame was suspended from the securities industry for six months in January 2021 and fined $5,000.

According to FINRA:

Alame consented to the sanctions and to the entry of findings that, while associated with a member firm, he participated in private securities transactions involving management of a customer’s securities account held at another firm, without providing notice to his firm. The findings stated that Alame recommended that his customer open a brokerage account at another member firm. Alame then recommended and executed 36 transactions in options securities in the customer’s outside account, including $578,246 in options purchases. The customer paid Alame at least $2,700 in compensation for his purchase and sale activity in the outside account, which resulted in $107,195 in realized losses. Alame’s firm has reimbursed the customer for these losses. Alame did not provide written notice to his firm, or obtain the firm’s approval, prior to participating in these private securities transactions in the outside account. Additionally, Alame falsely certified in response to his firm’s compliance questionnaire that within the last twelve months he had not been paid by any client for business conducted outside of the firm, had not been given access to or knowledge of any client’s passwords to log into a brokerage account, and did not participate in any accounts with clients that were not approved by the Firm.

Goodman & Nekvasil P.A. May Recover Investor Losses

If you lost money on investments with Roy Alame 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 Roy Alame’s 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 Roy Alame 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 10/6/2021 directly from FINRA BrokerCheck, without any changes. If you believe this information was reported incorrectly, please contact our firm at 1-800-500-4442.

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