Articles Tagged with Rhode Island

According to a recent Letter of Acceptance, Waiver and Consent with the Financial Industry Regulatory Authority (FINRA), Thomas A. Vigil was accused of impersonating a customer on a call to an insurance company in order to obtain an annuity surrender form, falsifying the same customer’s rollover request form, and forging a second customer’s signature on a change of broker-dealer form. This is against securities rules and regulations. In October 2012, Vigil allegedly called another insurance company and falsely identified himself as a customer to obtain an annuity surrender form. In January 2014, Vigil falsified a rollover form for a customer by whiting out the date on an earlier, validly signed form and writing in the current date. This is also against securities rules and regulations. For this he was fined $7,500 and suspended from the industry for six months.

According to his FINRA online BrokerCheck report, Vigil was registered with Robert W. Baird & Co., Northwestern Mutual Investment Services, Fidelity Investments Institutional Services Co., Metropolitan Life Insurance Co., MetLife Securities in Westboro, Massachusetts from December 2002 until January 2014, Signator Investors in Warwick, Rhode Island from December 2013 until July 2014 and Investors Capital Corp in Saunderstown, Rhode Island from September 2014 until October 2014. He is currently registered with Infinity Financial Services in Saunderstown and has been since October 2014. He has three customer disputes against him.

Did you lose money with Patrick J. Sands? If so, Stoltmann Law Offices is interested in speaking with you about your possible recovery options. Please call our Chicago-based securities law firm at 312-332-4200 for a free consultation with an attorney. You may be able to bring a claim against his former firm, Merrill Lynch, Pierce, Fenner & Smith for any selling away losses you may have incurred. Sands was terminated from Merrill Lynch for selling away practices, which is when a broker recommends or sells a security that is not offered by his member firm. It is used to generate large commissions for the broker. In many cases, the firm may be held liable for investment losses because it has a regulatory duty to supervise its brokers and the transaction itself to ensure that the securities are suitable for investors.

Patrick J Sands was registered with Suretrade in Lincoln, Rhode Island, Quick & Reilly in New York, New York from March 2001 until October 2004, Banc of America Investment Services in Newton, Massachusetts from October 2004 until October 2009 and Merrill Lynch in Quincy, Massachusetts from October 2009 until December 2015. He has one customer dispute against him and is not licensed within the industry, according to his online Financial Industry Regulatory Authority (FINRA) BrokerCheck report. Please call our securities law firm soon to speak to an attorney, as time is of the essence with these cases. We take cases on a contingency fee basis only so we only get paid if you recover money.

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