Norris Roberts Jr. Barred By FINRA: Warning To Investors

According to a recent Letter of Acceptance, Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA), Norris Roberts Jr. was barred from the industry for failing to show up at a hearing against him. He was being investigated for suspicious activity that led federal agents to uncover an illegal gambling operation in Arkansas. It was alleged that he was involved in an illegal gambling business in his home town in Arkansas, according to ArkansasBusiness.com. FINRA’s AWC claimed that Mr. Roberts was structuring withdrawals from his personal bank account in order to avoid his bank having to file currency transaction reports. Mr. Roberts was terminated by his former employer, Stephens Inc. following its review of a published report and supporting materials containing allegations that he had engaged in illegal activities. This was according to a recent InvestmentNews article.
According to Roberts’ online, public BrokerCheck report with FINRA, he was previously registered with Morgan Stanley in Purchase, New York from May 2001 until January 2004, Merrill Lynch in Rogers, Arkansas from December 2003 until September 2014, and Stephens in Rogers from September 2014 until August 2017. He has one customer dispute against him, alleging failure to reallocate a portfolio as requested, making investment recommendations that were not suitable with the customer’s investment objectives, and misrepresenting and omitting material facts regarding an investment from December 2010 until December 2013. He has one regulatory matter against him. He has been permanently barred from the industry. We may be able to help you recover your investment losses on a contingency fee basis in the FINRA arbitration forum.