Did you lose money investing with George McCaffrey (CRD# 847377)?
Galvin Legal, PLLC is launching an investigation on behalf of investors who may have suffered losses investing with George McCaffrey. If you suffered losses investing with George McCaffrey, then Galvin Legal, PLLC may be able to help you recover your losses in a Financial Industry Regulatory Authority (“FINRA“) arbitration claim.
If you suffered losses and would like a free consultation with a securities attorney, then please call Galvin Legal, PLLC at 1-800-405-5117.
As of February 17, 2023, George McCaffrey’s FINRA BrokerCheck Report contains the following:
BARRED: FINRA has barred this individual from acting as a broker or otherwise associating with a broker-dealer firm.
Disclosure Events
3 Customer Disputes
3 Regulatory Events
1 Employment Separation After Allegations
June 25, 2021 – An AWC was issued in which McCaffrey was barred from association with any FINRA member in all capacities. Without admitting or denying the findings, McCaffrey consented to the sanction and to the entry of findings that he provided false information to FINRA during a prior investigation and participated in $270,000 of private securities transactions, without prior written disclosure to, and approval from, his member firm. The findings stated that McCaffrey previously consented to findings that he participated in undisclosed private securities transactions in which investors, including a firm customer, purchased debt and equity securities. During the course of the investigation, FINRA issued a request to McCaffrey asking that he provide a list of all OBAs in which he engaged away from his firm. McCaffrey’s then attorney responded that McCaffrey had no other OBAs other than his involvement in the company that was the subject of his prior AWC. During the prior investigation, McCaffrey produced a chart of individuals who invested in the subject company identified in FINRA’s request, detailing the amount of each investment and the compensation he received. McCaffrey did not identify any other private securities transactions that he had participated in other than the transactions that formed the basis of his prior AWC. However, McCaffrey participated in private securities transactions in which additional individuals, who were not firm customers, purchased securities issued by the subject company. In addition, contrary to his representations made in connection with his prior disciplinary action, McCaffrey participated in another private securities transaction with an individual, who was not a firm customer, involving a separate, but related company. (FINRA Case #2019064024001)
Current and Previous Registrations
07/14/1989 – 10/30/2017 NTB FINANCIAL CORPORATION (CRD#:7425) ENGLEWOOD, CO
01/15/1986 – 06/20/1989 J. W. GANT & ASSOCIATES, INC. (CRD#:7963)
07/15/1984 – 06/20/1989 J. W. GANT & ASSOCIATES, INC. (CRD#:7963)
08/26/1985 – 01/01/1986 FIRST EASTERN SECURITIES CORPORATION (CRD#:14514)
01/18/1983 – 05/29/1984 E. J. PITTOCK & CO., INCORPORATED (CRD#:1398)
02/02/1982 – 01/25/1983 SECURITIES CLEARING OF COLORADO, INC (CRD#:5363)
FINRA expelled the firm on 04/07/1989
10/09/1980 – 12/20/1981 S. W. DEVANNEY & COMPANY, INCORPORATED (CRD#:7167)
03/26/1980 – 10/05/1980 PEAVEY SECURITIES, INC. (CRD#:6902)
01/03/1978 – 02/28/1978 SFC EQUITIES INC. (CRD#:5857)
If you suffered losses and would like a free consultation with a securities attorney, then please call Galvin Legal, PLLC at 1-800-405-5117.
Due Diligence Requirement
FINRA requires broker’s to conduct due diligence on investments and to conduct a suitability analysis when recommending securities to a customer that takes into account the customer’s knowledge and experience. FINRA Rule 2111(a) states that “a member or an associated person must have a reasonable basis to believe that a recommended transaction or investment strategy involving a security or securities is suitable for the customer, based on the information obtained through the reasonable diligence of the member or associated person to ascertain the customer’s investment profile. A customer’s investment profile includes, but is not limited to, the customer’s age, other investments, financial situation and needs, tax status, investment objectives, investment experience, investment time horizon, liquidity needs, risk tolerance, and any other information the customer may disclose to the member or associated person in connection with such recommendation.”
Rule 2111 is composed of three main obligations: reasonable-basis suitability, customer-specific suitability, and quantitative suitability. Brokers and the brokerage firms they work for that fail to conduct adequate due diligence on investments they recommend or that make unsuitable recommendations can be held responsible for the customer’s losses in a FINRA arbitration claim.
If you suffered losses and would like a free consultation with a securities attorney, then please call Galvin Legal, PLLC at 1-800-405-5117.
Request a Free Consultation with a Securities Attorney
If you suffered losses investing with George McCaffrey and would like a free consultation with a securities attorney, then please call Galvin Legal, PLLC at 1-800-405-5117.
This information is all publicly available and is being provided to you by Galvin Legal, PLLC.
Galvin Legal, PLLC is a national securities arbitration, securities mediation, securities litigation, securities fraud, securities regulation and compliance, and investor protection law practice. For more information on Galvin Legal, PLLC and its representation of investors, please visit www.galvinlegal.com or call 1-800-405-5117.
