Securities Fraud Lawyer Blog
John Olinghouse, a registered representative from Sparks, Nevada, formerly with HD Vest and Fortune Financial Services was suspended from FINRA membership as a result of an investigation into his reusing customer signatures by affixing them to different documents. Olinghouse entered into an acceptance waiver and consent agreement with FINRA in which he neither admitted nor denied the findings, but agreed to a suspension of one year and a fine of $15,000.
In June, 2017 John Olinghouse agreed to the suspension and FINRA published its findings that Olinghouse used whiteout and cutouts of client signatures on broker dealer documents and settled a customer complaint without notifying the firm.
John Olinghouse’s registration and disciplinary history
In order to lawfully sell investments to the public, one must either be registered or exempt from registration.
John Olinghouse was registered with Fortune Financial Services from June, 2015 to July, 2015 and HD Vest from June, 2011 to April, 2015.
According to FINRA’s CRD disclosure report, John Olinghouse has been the subject of one customer complaint and one regulatory investigation. He was also discharged from HD Vest after allegations were raised into the authenticity of client signatures on firm documents.
FINRA is the primary regulator for broker dealers and registered representatives in the United States. FINRA’s role is to promulgate standards and practices for the brokerage industry and to ensure compliance with its rules by licensed entities and individuals.
FINRA has two primary means to ensure compliance with the securities laws ; by means of an enforcement unit that investigates and disciplines wrongdoing, and through the establishment of an arbitration forum where investors can resolve disputes against broker dealers. FINRA’s arbitration forum, FINRA Dispute Resolution Inc. is the largest arbitration forum in the country for resolving investor disputes, and typically processes over 10,000 filings annually.
The Law Office of David Liebrader practices exclusively in the field of investment loss recovery. For the past 24 years, we have dedicated our law practice to assisting investors who have been victims of investment fraud via fraudulent and unsuitable investment transactions. During that time we have recovered money for over one thousand individuals, pension plans, trusts and companies. The recoveries we have obtained via judgments, awards and settlements on behalf of our clients exceed $40,000,000.
If you suspect that you have been the victim of investment fraud, or had a financial advisor recommend unsuitable investments to you, call us today for a free, confidential consultation at (702) 380-3131.