Bruce William McNabb– Private Securities Transaction without Providing Prior Written Notice to His Firm
Bruce William McNabb Allegedly Participated in a $4 million Private Securities Transaction without Providing Proper Prior Written Notice to the Firm
Bruce William McNabb allegedly participated in a $4 million private securities transaction without providing prior written notice to Merrill Lynch, Pierce, Fenner & Smith Incorporated, according to a recent FINRA Letter of Acceptance, Waiver and Consent (AWC) currently under review by attorneys Alan Rosca and Joe Peiffer.
Bruce William McNabb allegedly represented a group of three investors, one of whom was a Firm customer, in connection with a transaction in which they formed an entity that purchased stock in AU, a corporation (AU Corp.), for $4 million, the AWC notes.
The Peiffer Rosca Wolf securities lawyers are currently investigating Bruce William McNabb’s alleged improper business practices.
Bruce William McNabb Suspended and Fined $50,000 for participating in a $4 million Private Securities Transaction without Providing Proper Prior Written Notice to Merrill Lynch, Pierce, Fenner & Smith Incorporated
Bruce William McNabb allegedly violated NASD Rules which provide that”[p]rior to participating in any private securities transaction, an associated person shall provide written notice to the member with which he is associated”, according to the aforementioned AWC currently under review by attorneys Alan Rosca and Joe Peiffer.
A violation of certain NASD Rules constitutes a violation of certain FINRA Rules, and subsequently Bruce William McNabb violated FINRA Rules, and hence, has been suspended and fined $50,000 by FINRA, the AWC notes.
One should also note that, according to the AWC, Bruce William McNabb neither admitted nor denied the FINRA findings.
Securities Lawyers Investigating
The Peiffer Rosca Wolf securities lawyers often represent investors who lose money as a result of alleged improper business practices and are currently investigating Bruce William McNabb. 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 Bruce William McNabb’s alleged private securities transaction without proper approval may contact the securities lawyers at Peiffer Rosca Wolf, Alan Rosca or Joe Peiffer, for a free no-obligation evaluation of their recovery options, at 888-998-0520.