Ryan John Lawson of Phoenix Arizona a stockbroker formerly registered with Lawson Financial Corporation is referenced in a customer initiated investment related arbitration claim in which he was ordered to pay the customer $7,500.00 in damages based upon Lawson having been found liable on the customer’s claims that (1) Lawson made misrepresentations and omissions to the customer (2) Lawson sold the customer Hillcrest Academy municipal bonds that were not suitable for the customer (3) Lawson breached his fiduciary duties to the customer (4) Lawson negligently transacted in the customer’s account (5) Lawson failed to conduct due diligence in regard to the customer’s investments and (6) Lawson defrauded the customer. Financial Industry Regulatory Authority (FINRA) Arbitration No. 16-03340 (May 26, 2017).
FINRA Public Disclosure confirms that Lawson has been identified in four more customer initiated investment related disputes containing accusations of Lawson’s violative conduct during the time that he was associated with Lawson Financial Corporation. In particular, on January 15, 2002, a customer filed an investment related complaint concerning Lawson’s conduct where the customer sought $115,000.00 in damages founded on allegations that misrepresentations had been made to the customer in regard to municipal bonds that had been purchased in the customer’s investment account. On September 15, 2006, another customer filed an investment related complaint regarding Lawson’s activities in which the customer requested $300,000.00 in damages based upon accusations of unjustified poor performance on the customer’s municipal debt holdings.
Subsequently, on April 15, 2008, a customer filed an investment related complaint involving Lawson’s conduct where the customer sought $184,000.00 in damages supported by allegations that the customer’s assets were placed in unsuitable private placement products. On June 25, 2013, another customer filed an investment related complaint concerning Lawson’s activities in which the customer requested unspecified damages founded on accusations of inappropriate municipal bond purchases having been executed in the customer’s investment portfolio.
FINRA Public Disclosure also reveals that Lawson Financial Corporation was expelled from FINRA membership according to an Order Accepting Offer of Settlement containing findings that the firm and Robert Warren Lawson – Lawson Financial Corporation’s president, chief executive officer, and chief compliance officer – had, inter alia: defrauded the firm’s customers in connection with their purchases of millions of dollars’ worth of municipal revenue bonds, including Destiny Bonds, Cullman Bonds, Decatur Bonds and Hillcrest Bonds. Department of Enforcement v. Lawson Financial Corporation, et al., Disciplinary Proceeding No. 2014043854401 (Jan. 31, 2017). FINRA found the firm and Robert Lawson’s conduct violative of Securities Exchange Act of 1934 Section 10(b); Securities and Exchange Commission (SEC) Rule 10b-5; and Municipal Securities Rulemaking Board (MSRB) Rule G-17.
Lawson’s registration with Lawson Financial Corporation was terminated on September 30, 2016. Between September 16, 2016 and April 3, 2017, Lawson was associated with Silber Bennett Financial, Inc. He has been employed by First Financial Equity Corporation since April 4, 2017.
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