Chris Abeyta, a registered investment advisor, is currently under investigation by the Financial Industry Regulatory Authority (FINRA) for alleged misconduct involving the inappropriate possession and use of a client’s personal financial data. According to the pending customer dispute, filed on January 26, 2024, the client claims that Abeyta repeatedly contacted him after being requested to cease and desist. The client also discovered that Abeyta had changed the registered agents on his fixed annuity product to a new firm without his authorization.
The client’s allegations against Chris Abeyta raise serious concerns about the advisor’s professional conduct and adherence to industry regulations. FINRA rules strictly prohibit the misuse of client information and require advisors to obtain proper authorization before making changes to a client’s investment accounts. Abeyta’s alleged actions, if proven true, would constitute a clear violation of these rules and a breach of the trust placed in him by his client. Unfortunately, investment fraud and bad advice from financial advisors are all too common, as highlighted by numerous cases reported by Bloomberg and other reputable news sources.
Understanding the FINRA rules allegedly violated
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FINRA Rule 2010 requires registered representatives to observe high standards of commercial honor and just and equitable principles of trade. This rule encompasses a wide range of unethical behaviors, including the misuse of client information and unauthorized changes to client accounts. By allegedly contacting the client despite requests to stop and changing the registered agents on the client’s annuity without permission, Chris Abeyta may have violated this fundamental rule.
The importance of proper account management
Registered investment advisors have a fiduciary duty to act in the best interests of their clients. This includes respecting clients’ privacy, maintaining accurate records, and obtaining proper authorization before making changes to investment accounts. Abeyta’s alleged misconduct undermines the trust that is essential to the advisor-client relationship and can lead to significant financial harm for the affected investor.
Protecting investors’ rights
Investors who have suffered losses due to the misconduct of their financial advisors have the right to seek recovery through FINRA arbitration. Chris Abeyta (CRD# 6403098) is currently under investigation by Haselkorn & Thibaut, a national investment fraud law firm dedicated to helping investors recover their losses. With offices in Florida, New York, North Carolina, Arizona, and Texas, Haselkorn & Thibaut has over 50 years of combined experience and a 98% success rate in securing financial recoveries for their clients.
Red flags for financial advisor misconduct
Investors should be aware of the following red flags that may indicate financial advisor misconduct:
- Unauthorized changes to investment accounts
- Misuse of personal financial information
- Persistent contact despite requests to cease communication
- Inconsistencies in account statements or documentation
Seeking legal assistance for investment losses
If you suspect that your financial advisor has engaged in misconduct resulting in investment losses, it is crucial to seek legal assistance from experienced professionals. Haselkorn & Thibaut offers free consultations to help investors understand their rights and explore their options for recovery. Their “No Recovery, No Fee” policy ensures that clients can pursue justice without upfront costs.
Contact Haselkorn & Thibaut for a free consultation
To discuss your case with the investment fraud experts at Haselkorn & Thibaut, call their toll-free number at 1-888-885-7162 . Their team of experienced attorneys is ready to help you navigate the complex process of recovering your investment losses through FINRA arbitration. Don’t wait to take action – contact Haselkorn & Thibaut today to protect your rights as an investor.
