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Florida Financial Advisor Barred After Refusing to Cooperate With Investigation Into Unauthorized Transactions

Thomas L. Studer (CRD#: 6300308) is a previously registered broker and investment advisor. From May of 2014 to November of 2018, Mr. Studer was employed as a securities representative at Thrivent Investment Management in The Villages, Florida.

On May 23rd, 2019, Thomas Studer was expelled from the securities industry after he declined to provide information that was requested by FINRA. The agency was conducting an investigation into allegations that this broker executed unauthorized transactions. Here, our Miami, FL unauthorized trading lawyers provide an overview of the claims against Mr. Studer.

Allegations Broker Misconduct: Thomas Leroy Studer  

According to the Letter of Acceptance, Waiver and Consent agreed to by Thomas L. Studer, he has accepted an indefinite bar from associating with any FINRA member firm in any future capacity (No. 2018060478101). Notably, the document indicates that Mr. Studer was terminated by his brokerage firm —  Thrivent Investment Management — in October of 2018.

Pursuant to FINRA rules, the broker-dealer submitted a Termination Notice (Form U5) to regulators following his discharge from the firm. Among other things, the Form U5 stated that Thomas L. Studer was let go by Thrivent Investment because he failed to “follow procedures regarding power of attorney documentation” and because he allegedly facilitated an “unauthorized transaction”.

Thomas Studer Violated FINRA Rule 8210 

Under FINRA Rule 8210, securities industry members have a professional duty to cooperate with investigations into allegations of wrongdoing or general misconduct. In its charging documents, FINRA explains that Thomas Leroy Studer acknowledged that he received a request for testimony from the agency. However, Mr. Studer also represented to staff members of the agency that he had no intention to appear for on-the-record testimony and that he would not otherwise cooperate with the investigation in any manner. As this is a direct violation of industry rules, he was barred.

All allegations of financial advisor fraud or brokerage firm misconduct must be vigorously investigated. Even when securities representatives violate their duty to cooperate with the Financial Industry Regulatory Authority, investors still have legal options available. You can pursue a claim against a broker even after they are barred from the industry. If you or your family member suffered financial harm as a result of wrongdoing by Thomas Studer or any other financial advisor, you should reach out to an experienced attorney right away. Your lawyer will be able to analyze your case and help you pursue all of the available legal remedies.     

Get Help From Our Miami, FL Unauthorized Trading Attorneys Right Away

At ​Carlson & Associates, P.A., our top Miami investment fraud attorneys are proud to be strong and aggressive advocates for investors. If you sustained major investment losses due to unauthorized trading or any other type of investment fraud, we are ready to help. For a strictly confidential case evaluation, please call us now. With an office in Miami, we represent investors throughout Florida.

Resources:

brokercheck.finra.org/individual/summary/6300308

finra.org/sites/default/files/fda_documents/2018060478101%20Thomas%20Leroy%20Studer%20CRD%206300308%20AWC%20va.pdf

https://www.carlson-law.net/florida-broker-barred-after-failure-to-cooperate-with-finra-investigation/

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