National investment fraud lawyers KlaymanToskes is investigating Jeffrey Alan Bishop (CRD# 2879349) following his termination from Principal Securities, Inc. (NASDAQ:PFG) for alleged failure to adhere to the firm’s policies and procedures for trading in customer accounts.
If you suffered investment losses with Jeffrey Alan Bishop while he was affiliated with Principal Securities, you are encouraged to contact attorney Lawrence L. Klayman, Esq. at (888) 997-9956 or lklayman@klaymantoskes.com to discuss recovery options.
According to FINRA Brokercheck, Jeffrey Alan Bishop has three public disclosures including one employment separation after allegations, a regulatory action/fine, and a customer complaint settled in favor of the investor. Bishop was previously registered as a broker and investment adviser with Principal Securities, Inc. from 2012 to January 2023 in Crest Hill, IL.
Bishop was discharged from Principal Securities, Inc. on January 10th, 2023 for his alleged failure to adhere to firm policies and procedures for trading in customer accounts. Bishop was previously hit with a regulatory action initiated by the state of Illinois Securities Department for his alleged failure to properly indicate whether a sale to some investors was solicited or unsolicited. He paid $2,500 to the Illinois Secretary of State in order to resolve this matter.
A previous investor complaint naming Bishop alleged the investor was misled into buying two variable universal life insurance policies and requested a refund of premiums paid. The complaint was settled in favor of the investor for $143,772.66.
FINRA (Financial Industry Regulatory Authority) is the self-regulatory body responsible for regulating all U.S. brokers and brokerage firms doing business with customers in the United States or other countries. Financial advisors and their firms are responsible for providing suitable investment advice and may also be liable for a breach of fiduciary duty in the event of a misrepresentation, omission or unsuitable recommendation resulting in losses suffered by the investor.
Financial professionals registered with FINRA have a responsibility to uphold its securities rules, including the following:
FINRA Rule 2010 requires brokerage firms and their registered representatives to “observe high standards of commercial honor and just and equitable principles of trade.”
FINRA Rule 2020 requires that “no member shall effect any transaction in, or induce the purchase or sale of, any security by means of any manipulative, deceptive, or other fraudulent device or contrivance.”
Investors that have suffered losses as a result of their adviser’s violations of securities rules may hold their brokerage firm and financial professional liable through a FINRA arbitration claim. Contact KlaymanToskes today at (888) 997-9956 or lklayman@klaymantoskes.com to learn more about the arbitration process.
Former customers of Jeffrey Alan Bishop at Principal Securities’ Crest Hill, IL branch who have experienced significant investment losses are encouraged to contact securities attorney Lawrence L. Klayman, Esq. at 1-888-997-9956 or lklayman@klaymantoskes.com to discuss recovery options.
KlaymanToskes offers legal services on a contingency fee basis, meaning we do not collect attorney’s fees unless we are able to obtain a financial recovery for you. KlaymanToskes also has the experience and resources to prosecute your case. The firm has recovered over $250 million for investors in FINRA arbitration cases alone.
KlaymanToskes is a leading national securities law firm which practices exclusively in the field of securities arbitration on behalf of retail and institutional investors throughout the world in large and complex securities matters. The firm has recovered over $250 million in FINRA arbitrations and over $350 million in other securities litigation matters. KlaymanToskes has office locations in California, Florida, New York, and Puerto Rico.
Lawrence L. Klayman, Esq.
888-997-9956