Broker was also fined $15,000 for accepting trade orders she was not licensed to accept
Tiffany Peacock-Asakawa was suspended from practicing in the securities industry for 10 months in August, following allegations that she was involved in false representation and the falsification of records of trade orders at her member firm, according to FINRA.
According to FINRA reports, Peacock-Asakawa allegedly accepted trade orders that she was not licensed to accept, as she was not registered as a financial adviser in Hawaii. Sanctions were levied against her in the form of a 10-month suspension from the industry and a $15,000 fine.
Peacock-Asakawa was discharged from employment at Raymond James Financial Services, Inc., in 2013 after the allegations of registering trades in Hawaii by using another adviser’s rep number and attempting to persuade the other adviser to corroborate her story, according to FINRA reports.
Peacock-Asakawa was involved in two separate customer disputes in 2014, one in September and one in October. The first dispute alleged excessive trading between January 2008 to September 2012, and the customer was granted $1.5 million in damages. The second dispute alleged unauthorized trading and misrepresentation, among other accusations, and the case was settled for $30,000.
Prior to that, Peacock-Asakawa was implicated in four customer disputes between September 2010 and July 2013 involving allegations ranging from excessive trading and conversion of funds to misrepresentation, among other violations. In total, the disputes alleged at least $1.2 million in damages, and the settlements granted the customers damages of more than $750,000.
If you have found yourself suffering financial loss as a direct result of the misconduct of Peacock-Asakawa or any other financial advisers, you may be entitled to loss recovery through securities arbitration. To discuss your legal options and investigate your rights, contact Silver Law Group to discuss your case during a free consultation. Each case is handled on a contingent-fee basis, meaning that you will only pay legal fees if Silver Law Group is successful.
Silver Law Group is composed of experienced securities arbitration attorneys who are committed to helping people who have been negatively impacted by investment brokers and financial advisers who mishandle money. Contact us today for your complimentary consultation.