Drew Johnson, formerly of Girard Securities, Suspended Six Months from Securities Industry
We are investigating allegations made by FINRA, the Financial Industry Regulatory Authority, against Drew M. Johnson, from Coon Rapids, Minnesota. FINRA suspended Johnson from the securities industry for six months and fined him $5,000. FINRA was investigating Drew Johnson to determine whether he engaged in private securities transactions that were not disclosed to his brokerage firm, Girard Securities. Johnson was alleged to have solicited four investors to invest $125,000 in a small, privately-held company. At least two of the investors were not paid back.
Drew Johnson was a financial advisor and registered representative of Girard Securities from February 2010 to April 2012. He was also affiliated with SagePoint Financial between April 2012 and June 2016. He worked at a branch office in Coon Rapids, Minnesota. Johnson has been the subject of three customer complaints.
Brokerage firms like Girard Securities have a responsibility to adequately supervise all representatives who are registered through their firm. Brokerage firms also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies. When brokerage firms fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers.
Israels & Neuman PLC is a securities and investment fraud law firm with offices in Bellevue, Washington; Vancouver, Washington; and Denver, Colorado. We represent investors in FINRA arbitration proceedings in all 50 states, including investors throughout Minnesota. Our attorneys have represented over one thousand investors against many brokerage firms in the past.
Click to view: Johnson, Drew FINRA AWC
Click to view: Johnson, Drew BrokerCheck 9.11.17
If you lost money with Drew Johnson or Girard Securities, please CONTACT US at 720-599-3505 for a free evaluation of your case.
Israels & Neuman, PLC is a private law firm and is not affiliated with any government or law enforcement agency. Any investigation referenced in this blog is independent in nature and is being conducted by our law firm privately, not in conjunction with any government or law enforcement agency. All information contained in this blog should be deemed statements of opinion derived from the author’s review of public records, not statements of fact. This blog is advertising material and does not create an attorney client relationship, nor does it constitute legal advice. Everyone’s situation is different and the question of whether or not you have a claim will vary on a case-by-case basis. In contingent representation, clients may still be liable for costs.