June 18, 2015-Boston, MA
Lucian D. Hodgman entered into a Letter of Acceptance Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA) to resolve allegations that between May and July 2013 he caused approximately 40,000 copies of an advertisement postcard to be sent out by mail without the approval of a registered principal at his member firm, Moors & Cabot, in violation of FINRA Rules 2210(b)(1) and 2010. The postcards contained information about investing in fixed annuities that failed to provide a sound basis for evaluating such an investment, according to the AWC.
The AWC also alleges that in July or August 2013, Hodgman falsely represented to Moors & Cabot that a third party marketing firm was responsible for the mailing without his knowledge or authorization.
Hodgman was fined $5,000 and suspended from association with any FINRA member in any and all capacities for 18 months.
According to FINRA records, Hodgman was previously registered as follows:
- 10/2014-present Newport Coast Securities
- 4/2014-8/2014 White Weld & Co. Securities
- 9/2013-3/2014 Investors Capital Corporation
- 1/2001-9/2013 Moors & Cabot, Inc.
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.
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