Arie Baron, a former representative of Leumi, entered into a Letter of Acceptance, Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA). According to his AWC, Baron was accused of effecting 161 discretionary transactions in eight customer accounts without having obtained prior written authorization from the customer and written acceptance of the accounts as discretionary by Leumi, from August 2013 until June 2014. He also forged the signatures of two firm customers on four mutual fund switch letters without the customer’s consent or knowledge between October 2013 and February 2014. For this, he was suspended from association with any FINRA member firm for a period of seven months and fined $15,000.
Baron was registered with Leumi Investment Services Inc. in Palo Alto, California from December 2010 until October 2014. He has one customer dispute against him. He is not currently licensed within the industry. If you lost money with Arie Baron, his former firm, Leumi Investment Services, may be held liable for financial losses, as they had a duty to properly supervise him while he was employed with them. Please call Stoltmann Law Offices at 312-332-4200 to speak with an attorney. The call is free with no obligation. We are based in Chicago, Illinois.
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