Alec Franks, formerly with First Standard Financial, Barred by FINRA
Have you lost money with financial advisor Alec Franks? We are looking into allegations made about Alec C. Franks from Red Bank, New Jersey. FINRA (the Financial Industry Regulatory Authority) barred Franks from the securities industry. FINRA alleged that Franks has failed to respond to its investigation regarding allegations that he engaged in an undisclosed outside business activity and that he engaged in excessive trading.
Alec Franks was a financial advisor and registered representative of First Standard Financial from June 2014 to April 2019. He worked in a branch office in Red Bank, New Jersey.
Brokerage firms like First Standard Financial 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 Denver, Colorado; Seattle, Washington; Ann Arbor, Michigan; and Phoenix, Arizona. We represent investors in FINRA arbitration proceedings in all 50 states, including throughout New Jersey. Our attorneys have represented over one thousand investors against many brokerage firms in the past.