John Forrester (CRD# 728188), a broker registered with Newbridge Securities Corporation, violated securities industry laws and rules, according to recent investor complaints. MDF Law is investigating the Boca Raton, Florida financial professional for similar conduct. If you have concerns regarding investments he recommended, call us for a free consultation with one of our attorneys.
Additional information about the disputes involving Mr. Forrester can be found below. This post is based on a September 6, 2024 review of his BrokerCheck profile, a Financial Industry Regulatory Authority record.
Pending Complaints Allege Fraud
Four parties of investors filed disputes involving Mr. Forrester in 2024. The disputes allege that he breached contract, engaged in negligence, committed common law fraud, violated federal securities laws, violated Regulation Best Interest, and breached his fiduciary duty. The disputes, which remain pending, seek more than $400,000 in cumulative damages.
Past Disputes Reached Settlements
Three parties of investors filed disputes involving Mr. Forrester between 1993 and 2023. These claims detailed allegations of fraud, breach of fiduciary duty, negligence, suitability violations, and omission of facts in connection with investments in GWG and other products. His former member firms settled the disputes for more than $139,000.
Other Disputes Evolved into Arbitration Proceedings
Mr. Forrester’s BrokerCheck record describes two investor disputes that evolved into arbitration proceedings. One dispute alleged that he recommended unsuitable bond and mutual fund investments; a panel issued an award of $108,315 to the claimant. The other alleged that he recommended unsuitable investments and engaged in churning; a panel issued an award of $50,000 to the claimant.
Why Did FINRA Sanction Forrester?
In 2010, FINRA launched a disciplinary action against Mr. Forrester. The action alleged that he failed to comply with an arbitration award or settlement agreement, or to satisfactorily respond to a FINRA request to provide information regarding the status of compliance. FINRA suspended him from registering with any member firm in any capacity from October 15, 2020 until October 29, 2010.
FINRA: Forrester Based in Boca Raton
John Forrester started his career as a broker in 1981, when he registered with Herzfeld & Stern. Over the following years, he worked with a variety of firms, including Prudential Securities, Dean Witter Reynolds, and Wasserman & Associates. He joined Newbridge Securities Corporation’s Boca Raton, Florida office in 2010, where he has remained since. With 43 years of experience as a broker, he has completed three industry exams, including the Series 7 and the Series 63.
MDF Law Advocates for Investors
Did you suffer losses on investments recommended by John Forrester? MDF Law may be able to help you secure a recovery. Call our seasoned investment fraud attorneys at 800-767-8040 for a free consultation about your case. You may have a limited window to file a FINRA arbitration claim, so don’t delay: call MDF Law today.