Glen Woodard Fined and Suspended Relating to Allegations That He Engaged in Outside Business Activities
Glen E. Woodard, formerly associated with Securities America, Inc., sold Equity Indexed Annuities (“EIAs”) without informing his firm of such sales, according to the Financial Industry Regulatory Authority (“FINRA”).
The Peiffer Rosca securities practice attorneys Jason Kane and Joe Peiffer are investigating the matter.
Woodard sold ten EIAs to eight individuals, seven of whom were Securities America customers from approximately August 2010 through February 2013, according to FINRA. These EIAs were insurance products that were issued by either Reliance Standard Life Insurance Company or Great American Life Insurance Company, according to FINRA.
By engaging in outside business activities without providing prompt written notice to his firm, Woodard violated regulatory rules designed to protect investors.
Woodard consented to a $5,000 fine and a three-month suspension from the securities industry without denying or admitting FINRA’s findings.
The Peiffer Rosca securities attorneys often represent investors who lose money as a result of Ponzi schemes, investment fraud, or stockbroker misconduct. They are currently investigating the possibility of assisting victims with the recovery of their losses. 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 investment fraud or misconduct may contact the securities lawyers at Peiffer Rosca, Jason Kane or Joe Peiffer, for a free, no-obligation evaluation of their recovery options, at (585) 310-5140.
Broker: Glen E. Woodard
Status: INVESTIGATED by Peiffer Rosca.
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