In March 2014, Lincoln Financial filed a Form U5, which indicated Lange was terminated “for his involvement in an unreported outside business activity.” FINRA’s Department of Enforcement initiated an investigation into Lange’s business dealings based upon the Form U5. In connection with this investigation, FINRA sent Lange a request for documents and information on January 8, 2015. According to FINRA, Lange acknowledged receipt of FINRA's Rule 8210 request and informed staff he would not cooperate with FINRA’s investigation.
FINRA Rule 8210 authorizes FINRA, in the course of its investigations, to require persons associated with a FINRA member to “provide information orally, in writing, or electronically . . . with respect to any matter involved in the investigation. . . .” Here, Lange failed to provide information and documents in response to FINRA’s request, thereby violating FINRA Rule 8210. FINRA has very little tolerance for uncooperative members and promptly barred Lange from the financial industry.
Lufrano Law, LLC is a national securities litigation firm and has experience representing investors who have investment disputes with brokers and broker-dealers. If you suffered investment losses investing with Lange through Lincoln Financial, you may be able to recover your losses through FINRA arbitration. Our firm only receives a fee if you recover money. Please complete the contact form below or contact one of our attorneys at (800) 627-2179 to schedule a free consultation.