BB&T Broker Under Investigation After FINRA Suspension for Misrepresenting Compensation Received for Serving as Trustee of Customer’s Trust

Silver Law Group is investigating BB&T Securities, LLC (CRD# 142785) broker Joseph B. Feldman (CRD# 205910) after FINRA suspended him for misrepresenting the compensation he received for serving as the trustee for a customer’s trust.

According to Feldman’s FINRA BrokerCheck report,  the suspension follows a termination of Feldman by Merrill Lynch, Pierce, Fenner & Smith Inc. (CRD# 7691) on February 2016, which vaguely states the reason for discharge as “conduct involving failure to follow the Firm’s directive related to an approved outside business activity.”

In July 2016, FINRA suspended Feldman for three months and fined him $5,000.  According to the Acceptance, Waiver & Consent (“AWC”) entered into between Feldman and FINRA, Feldman disclosed that he was serving as trustee for a relative’s trust, as allowed by his employing firm.  However, Feldman later falsely stated to the firm’s compliance department that the trust was not going to compensate him for trustee services.  A supervisor later detected that a check Feldman received was in fact a payment from the trust.

Currently, Feldman has one FINRA arbitration pending, unrelated to his suspension, which alleges unsuitable investment recommendations and omission of material facts from September 2014 to February 2016.  The FINRA arbitration was filed in October 2016.

Feldman has been employed by BB&T Securities since 2012 and is based out of the Norfolk, Virginia branch.

FINRA arbitration is a fast, efficient way to recover your lost investment funds due to unauthorized trading.  We work on a contingency fee basis, meaning you pay us nothing unless we win and recover money for you.

If you have invested with Joseph B. Feldman and BB&T Securities and have lost money doing so, you may be able to recover some or all of your losses.  Our lawyers are experienced in recovering investor losses due to broker and brokerage firm misconduct through FINRA arbitration.

Silver Law Group represents the interests of investors who have been the victims of investment fraud.  If you have questions about your legal rights, please contact Scott Silver of the Silver Law Group for a free consultation at ssilver@silverlaw.com or toll free at (800) 975-4345.