October 2020- Boca Raton, FL
According to publicly available records, Andrew Joseph Fairchild, a broker with Newbridge Securities Corporation, discloses 2 regulatory Events, a customer dispute and a termination.
The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.
In January 2020, Florida Office of Financial Regulation filed case #97544-S after findings that Fairchild, while employed by Investacorp, failed to observe the high standards of commercial honor and just and equitable principles of trade. Sanctions ordered were a cease and desist order and a fine of $10,000.
In December 2019 in case #2018060848101 FINRA alleged that Fairchild impersonated customers of his member firm in multiple recorded telephone calls to a company requesting redemptions of funds from variable annuity products the customers had purchased. The findings stated that Fairchild impersonated the customer to circumvent the company policy permitting only customers to request redemptions over the telephone.
In December 2018 Fairchild was permitted to resign from Investacorp after the findings that he placed phone calls to annuity company to request withdrawals for clients to be sent to their accounts.
Fairchild has been employed by Newbridge Securities Corporation since October of 2019. Before that he was with and Kovack Advisors, Investacorp and Investors Capital Corporation.
If you have losses in an account handled by Andrew Fairchild, call to learn how you may be able to recover damages through FINRA arbitration.
Kovack Advisors Hit With $900K Regulatory Sanction Over Wrap Fee Charges
Rex Securities Law , with offices in Boca Raton, FL, and Austin, TX, provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.
Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
Nationwide Representation
TollFree: 877-224-3199
Florida-561 391 1900
Texas-512-329-2870
