JOSEPH NOYES FROM NEW HAVEN, CONNECTICUT SUSPENDED BY FINRA
Have you lost money with financial advisor Joseph Noyes from New Haven, Connecticut? We are currently investigating allegations made against Joseph C. IV Noyes, who previously worked with Santander Securities. FINRA (the Financial Industry Regulatory Authority) brought a regulatory action against Mr. Noyes, alleging that he misstated the source of funds used to purchase variable annuities for clients.
FINRA alleged that Joseph Noyes purchased annuities on behalf of two customers. It was alleged that Noyes told his securities firm, Santander Securities, that the funds used to purchase the annuities came from brokerage accounts, when in fact they came from other annuities. FINRA also alleged that Noyes had no reasonable basis for recommending the variable annuity switch. To settle these allegations, Noyes agreed to a three month suspension, a $5,000 fine, and disgorgement of the commissions received of $1,508.
Joseph Noyes was a registered representative and financial advisor of Santander Securities from January 2013 to March 2014. He was also affiliated with CCO Investment Services Corp. from May 2014 to December 2014 and with Cuna Brokerage Services from March 2015 to the present. Noyes worked at branch offices in New Haven, Mystic, Norwich, and Waterford, Connecticut.
Broker-dealers like Santander Securities have a responsibility to adequately supervise all representatives who are registered through their firm, including investments sold by their registered representatives. Broker-dealers also must take steps to ensure that their financial advisors follow all securities rules and regulations, such as to refrain from excessively trading a customer’s account. When broker-dealers 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 Chicago; Denver, Colorado; Ann Arbor, Michigan; and the Seattle area. We represent investors in FINRA arbitration in all 50 states, including investors from Connecticut and New England in the past.
Click to view: Noyes, Joseph FINRA AWC
Click to view: Noyes, Joseph BrokerCheck 1.23.17
IF YOU LOST MONEY WITH JOSEPH NOYES OR SANTANDER SECURITIES, PLEASE CONTACT ISRAELS & NEUMAN 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.