Adam Lopez Barred by FINRA for Refusing to Cooperate with Investigation into Alleged Violations of Securities Industry RulesMonday, January 7, 2019
On December 17, 2018, the Financial Industry Regulatory Authority (FINRA) Department of Enforcement approved a Letter of Acceptance, Waiver and Consent (AWC) submitted by former Country Capital Management Company representative, Adam Michael Lopez, that barred him from associating with any member firms.
According to his FINRA BrokerCheck report, Lopez was associated with Country Capital Management Company in Springfield, Illinois from September 2008 to September 2018. His Form U5 stated that he was “terminated by Firm due to termination by affiliated insurance companies for alleged violation of provisions in his insurance agent contract relating to obligations of honesty.” In October 2018, Country Capital amended the Form U5 to disclose that Lopez was “under investigation by a domestic or foreign governmental body or self-regulatory organization with jurisdiction over investment-related business.”
On October 8, 2018, FINRA Department of Enforcement sent Lopez a request for documents and information relating to the allegations behind his termination. Lopez provided two separate partial responses that did not substantially comply with all aspects of FINRA’s request. Through his counsel, Lopez acknowledged that he received FINRA’s request and would not cooperate any further.
Based on the foregoing, Adam Michael Lopez violated FINRA Rules 8210 and 2010. Without admitting or denying allegations made against him, Lopez consented to a bar from associating with all FINRA member firms in any capacity.
Oftentimes brokerage firms can be held liable for the brokers’ misconduct if they failed to supervise them while registered at the firm. If you lost money due to Adam Michael Lopez’s advice, you may be able to recover from him or Country Capital Management Company, the brokerage firm where he was registered. Since 1998, the experienced attorneys at ChapmanAlbin LLC have been fighting for victims of investment fraud and broker misconduct. Call us today at 1-877-410-8172 for a free consultation.