Louis Alan Woolf of South Easton Massachusetts a stockbroker formerly registered with Investors Capital Corp. is the subject of a customer initiated investment related arbitration claim in which the customer requested $324,555.81 in damages founded on allegations that fiduciary and contractual obligations had been breached and the customer’s TNP Irving Square DST real estate security investment was handled in a negligent manner. Financial Industry Regulatory Authority (FINRA) Arbitration No. 17-02967 (Nov. 10, 2017).
FINRA Public Disclosure additionally reveals that Woolf is the subject of a customer initiated investment related civil action which settled for $50,000.00 in damages supported by accusations of sales practice violations relating to the customer’s high yield fund investment holdings while Woolf was associated with First Investors Corporation. Case No. 90 CIV 7225.
Moreover, Woolf is referenced in four regulatory actions concerning allegations of his misconduct. For example, he was suspended by the Commonwealth of Massachusetts for eighteen months from associating with any Massachusetts broker-dealer in an agency capacity based upon accusations that he failed to reasonably train and supervise representatives who made omissions and misrepresentations to customers regarding high yield bonds and effected unsuitable mutual fund sales. Case No. E-90-045. He was subsequently suspended by Securities and Exchange Commission (SEC) from acting as an agent of a broker-dealer of investment adviser according to a Decision and Order of Offer of Settlement containing findings of Woolf’s supervisory failures.
Woolf’s registration with Investors Capital Corp. has been terminated as of November 10, 2015. Since July 15, 2016, he has been employed by Voya Financial Advisors, Inc.
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