Andrew Scott Corbman—Unsuitable Recommendations
Andrew Scott Corbman Allegedly Made Unsuitable Recommendations to Three Customers Inconsistent with Customers’ Investment Objectives and Risk Tolerances
Andrew Scott Corbman, a registered general rep in the Ashburn, Virginia branch office of FSC Securities Corporation, allegedly made unsuitable recommendations to three customers, according to a recent FINRA Letter of Acceptance, Waiver and Consent (AWC).
The AWC further alleges that Corbman’s recommendations were inconsistent with the customers’ investment objectives and risk tolerances and resulted in over-concentration of their liquid net worth in these investments.
Furthermore, the relevant period related to the aforementioned unsuitable recommendations is between 2009 and 2010, the AWC notes.
Andrew Scott Corbman Filed for Bankruptcy, Allegedly Distributed a Sales Brochure for an Alternative Mutual Fund to at Least 10 of his Customers that Contained Misleading Information
Andrew Scott Corbman allegedly distributed a sales brochure for an alternative mutual fund to at least 10 of his customers that contained misleading information, according to the aforementioned AWC.
Furthermore, Andrew Scott Corbman allegedly filed for Chapter 11 Bankruptcy, the AWC reports.
Finally, based on the aforementioned behavior, Andrew Scott Corbman violated NASD and FINRA Rules, and hence, has been suspended one month by FINRA. One should also note that, according to the AWC, Andrew Scott Corbman neither admitted nor denied the FINRA findings.
The Peiffer Wolf Carr & Kane Securities Lawyers Often Assist Investors
The Peiffer Wolf Carr & Kane securities lawyers assist investors who lose money as a result of unsuitable recommendations. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.
Investors who believe they lost money as a result of unsuitable recommendations are encouraged to contact the securities lawyers at Peiffer Wolf Carr & Kane, Jason Kane or Joe Peiffer, for a free, no-obligation evaluation of their recovery options, at (585) 310-5140.