FINRA’s Department of Enforcement initiated an investigation into Berger’s alleged misconduct concerning possible mishandling of customer accounts. Specifically, FINRA investigated whether Berger misappropriated funds from elderly customers’ accounts. In connection with this investigation, FINRA sent Berger a request to produce documents and information. According to FINRA, Berger acknowledged receipt of FINRA’s Rule 8210 requests; yet he failed to cooperate with FINRA’s investigation.
Based upon the foregoing alleged misconduct, FINRA asserted Berger violated FINRA Rules 2010 and 8210. Specifically, 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, Berger failed to provide testimony in response to FINRA’s request, thereby violating FINRA Rule 8210.
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 lost money investing with Berger while he was employed by Wells Fargo or MetLife Securities, 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.