Tyler Forbes – Financial Advisor/Broker Suspended from Securities Industry | Goodman & Nekvasil P.A., May Recover Investor Losses
Tyler Forbes is a previously licensed financial advisor with Merrill Lynch.
According to FINRA, Tyler Forbes was fined $75,000 and suspended from the securities industry for 16 months in September 2021.
According to FINRA Allegations:
Forbes consented to the sanctions and to the entry of findings that he facilitated instances of spoofing, a type of fraudulent trading involving the use of non-bona fide orders while simultaneously entering bona fide orders on the other side of the market. The findings stated that Forbes entered bona fide orders on one side of the market in a U.S. Treasury note while nearly simultaneously placing a very large, fully displayed non-bona fide order into an electronic trading platform on the opposite side of the market. Forbes’s fully displayed non-bona fide orders were always of sufficient size to create a buy-sell imbalance in the stack. After Forbes’s bona fide order was executed, he then cancelled his larger, fully displayed order. Forbes’s trading activity in these instances injected false information into the marketplace and created an artificial imbalance in the true supply and demand that drove trading behavior, resulting in Forbes executing his orders at better prices. As a result of this conduct, Forbes contravened Section 17(a)(3) of the Securities Act of 1933.
Goodman & Nekvasil, P.A. May Recover Investor Losses:
If you lost money on investments with Tyler Forbes 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 Tyler Forbes’ 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 Tyler Forbes 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 9/16/2021 directly from FINRA BrokerCheck, without any changes. If you believe this information was reported incorrectly, please contact our firm at 1-800-500-4442.