FINRA’s Department of Enforcement initiated an investigation into Ahren’s alleged misconduct. Specifically, FINRA investigated whether Ahrens prepared approximately 65 consolidated reports for at least four customers that inaccurately reflected the value and performance of investments. FINRA alleged the consolidated reports involved private placements and non-traded real estate investment trusts (REITs). According to FINRA, the consolidated reports were false and misleading because the current values listed on the reports were significantly higher than the actual values.
Based upon the foregoing alleged misconduct, FINRA asserted Ahrens violated NASD Rule 2210(d)(l) (for conduct prior to February 4, 2013) and FINRA Rule 2210(d)(1) (for conduct after February 3, 2013) and FINRA Rule 2010. Specifically, FINRA Rule 2210(d)(1)(B) states: “No member may make any false, exaggerated, unwarranted or misleading statement or claim in any communication with the public. No member may publish, circulate or distribute any public communication that the member knows or has reason to know contains any untrue statement of a material fact or is otherwise false or misleading.” Here, Ahrens allegedly disseminated false and misleading consolidated reports, thereby violating FINRA Rule 2210(d) and others.
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 damages with Ahrens while he worked for LPL Financial, you may be able to recover your losses through FINRA arbitration. Our firm only receives a fee if you recover money. Please contact one of our attorneys at (800) 627-2179 to schedule a free consultation.