Sean Portnoy, a Plano, TX registered representative formerly with Nobles and Richards of Dallas, was suspended from FINRA membership for violations of Rule 9552. Portnoy has been involved in the oil and gas business.
FINRA Rule 9552. Failure to Provide Information or Keep Information Current
This FINRA rule provides if a FINRA member fails to provide information or testimony requested or required by FINRA’s By-Laws or FINRA rules, or fails to keep his or her membership and supporting documents current, FINRA, after providing 21 days’ notice may suspend the FINRA membership of the person.
In April, 2016 Sean Portnoy was suspended from FINRA membership for violating Rule 9552.
Sean Portnoy’s registration and disciplinary history
In order to lawfully sell investments to the public, one must either be registered or exempt from registration.
Sean Portnoy was registered with the following firms
According to FINRA’s CRD disclosure report, Sean Portnoy has been the subject of one regulatory investigation and one allegation by his former employer that he engaged in an undisclosed outside business activity and “sold away” from the firm. Portnoy has a history in the oil and gas business.
The Law Office of David Liebrader practices exclusively in the field of investment loss recovery. For the past 23 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.
When investors contact our firm they can expect prompt attention, and a detailed analysis of their issues. Typical claims that we are asked to review involve “unsuitability (where a financial advisor makes investment recommendations that are inconsistent with a customer’s investment objectives), claims for “churning” (where a broker enters into an excessive number of trades for the purpose of generating commissions), claims involving illiquid investments such as private placements (I.e., real estate investment trusts, limited partnerships, equipment leasing and oil and gas drilling programs) as well as claims for violations of state securities laws, which often provide investors remedies like attorney’s fees and interest, if they are successful on the claim.
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.