National investment loss lawyers KlaymanToskes is investigating broker Alex Barron a/k/a Armando Alejandro Barron of IRC Securities (CRD #4394048).
According to a FINRA Letter of Acceptance, Waiver, and Consent, Alex Barron, a/k/a Armando Alejandro Barron, formerly of IRC Securities, was suspended for 24 months and fined $50,000 for soliciting 14 investors in 30 unauthorized promissory note transactions totaling $979,500, through his limited liability company, failing to provide proper notice to his firm, and using noncompliant communications that inadequately disclosed investment risks.
Investors that suffered losses with broker Alex Barron are encouraged to contact attorney Lawrence L. Klayman, Esq., at 888-997-9956 or by email at investigations@klaymantoskes.com to discuss potential recovery options. We do not collect attorney’s fees unless we are able to obtain a financial recovery for you.
The Financial Industry Regulatory Authority (“FINRA”) has suspended IRC Securities financial advisor Alex Barron in connection with his alleged involvement in private securities transactions while registered with IRC Securities. According to FINRA’s findings, Barron participated in 30 promissory note transactions totaling $979,500 between October 2019 and April 2023, involving 14 investors and a limited liability company he owned and controlled.
The findings state that Barron did not provide IRC Securities with prior written notice of these private securities transactions between 2019 and January 2021. In 2021, he reportedly made a partial disclosure by providing a copy of a note and stating the funds were invested in a fund managed by his LLC. FINRA’s findings confirm this disclosure was incomplete, as the funds were also used for non-income generating purposes.
FINRA’s investigation determined that Barron’s communications about the promissory notes did not comply with FINRA’s content standards for public communications. These communications, which included a live-streamed PowerPoint presentation, emails, and a brochure, failed to provide balanced information about the notes’ risks and benefits. The communications omitted information about potential insolvency risks and the possibility that the issuing company might not make principal and interest payments.
For violations of FINRA Rules 2010, 2210, and 3280, FINRA issued Barron a $50,000 fine and a 24-month suspension from associating with any member firm. Barron, who has 16 years of securities industry experience, was previously registered with IRC Securities in New York City from 2011 to 2023.
As an investor, there are a few signs that you should look out for if you believe you may have a claim against your financial advisor. These signs could potentially indicate misconduct, negligence, or investment fraud. Investors are encouraged to contact our firm immediately if you have experienced any of the following:
Some investors have close relationships with their brokers due to the time and trust built over the course of their investment relationship. However, it is crucial to remember that financial decisions should be based on careful analysis and due diligence rather than solely relying on personal relationships.
Engaging the services of an experienced securities attorney to evaluate your specific circumstances is strongly advised. At KlaymanToskes, our team of experienced securities attorneys has a deep understanding of this complex area of law, allowing us to provide invaluable insight and tailored guidance that directly addresses your individual needs.
If you suffered losses with broker Alex Barron, or have concerns regarding your investment portfolio at IRC Securities, or with any other financial advisor or firm, contact KlaymanToskes at 888-997-9956 or fill out a short contact form for a free and confidential consultation.