Securities Arbitration Lawyers BlogFINRA Bars Andrew Mandell After Section 5 Violation Allegation
Andrew Jason Mandell (CRD #194970) is a previously registered broker whose last employer was Network 1 Financial Securities Inc. (CRD #13577) of Oakland, CA. Previous employers include Olympus Securities, LLC (CRD #114050), Halcyon Cabot Partners, LTD. (CRD #32664, one of four previous employers expelled by FINRA, on 10/06/2015) and The Vertical Group (CRD #104353), all of New York, NY. No current employment information is available. He has been in the industry since 1992.
Mandell is the subject of two regulatory disclosures, the most recent filed on 8/20/2018. FINRA sent a letter to Mandell asking him for on-the-record testimony in relation to a potential violation of Section 5 of the Securities Act of 1933, which regulates the timeline and distribution process for issuers who offer securities for sale. No specific details are included for this potential violation, but when Mandell declined to testify in the inquiry, he violated FINRA Rules 8210 and 2010. FINRA barred Mandell indefinitely, and in all capacities, effective 8/20/2018, and Mandell signed an Acceptance, Waiver & Consent (AWC) letter agreeing to the sanctions.
There is only one other disciplinary disclosure, filed on 11/29/1994 by the state of Hawaii’s Commissioner of Securities. According to the complaint, Mandell failed to register as a securities salesperson, and allegedly committed securities fraud. He signed the consent agreement and paid the $1,250 civil penalty, dismissing a preliminary order to cease and desist.