Ronald Harland Berg, of Anaheim California, a stockbroker registered with Innovation Partners LLC, has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because Berg failed to comply with FINRA’s requests during an investigation. Letter of Acceptance, Waiver, and Consent No. 2023077022401 (May 31, 2024).
According to the AWC, on February 20, 2024, FINRA requested Berg to produce documents and information under FINRA Rule 8210. This request was connected to Berg’s recommendations to multiple senior customers to invest in private offerings and his involvement with customer trusts. Berg responded partially on April 1, 2024, but the response did not fully comply with the regulator’s request.
On April 9, 2024, FINRA issued a second request for the remaining information. Berg acknowledged receiving this request but chose not to provide the required documents. By failing to comply with the requests, Berg violated FINRA Rules 2010 and 8210.
FINRA Public Disclosure shows that Berg is referenced in four customer initiated investment related disputes concerning Berg’s conduct while associated with securities broker dealers.
A securities arbitration claim involving Berg’s conduct resulted in the customer being awarded $22,400.00 in compensatory damages because Berg and Titan/Value Equities Group Inc. were held liable for sales practice violations. NASD Arbitration No. 96-05129. The Statement of Claim alleged misrepresentations of material fact and unsuitable recommendations in stocks.
A different securities arbitration claim involving Berg’s conduct was settled for $100,000.00 in damages based upon allegations that Berg was negligent, breached his fiduciary duties, and made misrepresentations in connection with the sale of securities when Berg was associated with Titan Value Equities Group. NASD Arbitration No. 96-05758.
Berg was also referenced in a securities arbitration claim that was settled for $22,400.00 in damages based upon allegations that Berg made misrepresentations of material fact, breached his fiduciary duties to the customer, and made unsuitable recommendations in stocks. NASD Arbitration No. 97-04479.
