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Suzette Foster Provided a False Testimony During Her Sworn On-The-Record Interview

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Suzette Foster

Publicly available records published by the Financial Industry Regulatory Authority (FINRA) on May 12, 2017 indicate that former Alabama-based ProEquities broker/adviser Suzette Foster has been sanctioned by FINRA and barred from acting as a broker or otherwise associating with firms that sell securities to the public. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Ms. Foster (CRD# 3206717).

Suzette Foster has spent sixteen years in the securities industry and was most recently registered with ProEquities in Birmingham, Alabama (2001-2015). She was previously registered with Regions Investment Company in Birmingham, Alabama (1999-2001). She has passed five securities industry examinations: Series 66 (Uniform Combined State Law Examination); Series 7 (General Securities Representative Examination); Series 53 (Municipal Securities Principal Examination); Series 4 (Registered Options Principal Examination); and Series 24 (General Securities Principal Examination). She is currently not registered with any state or firm.

According to her BrokerCheck report, she has been sanctioned by FINRA.

In May 2017 FINRA sanctioned Suzette Foster following allegations that “during the course of an investigation, FINRA found that she created and provided FINRA with false and misleading documents in response to two separate information requests, and provided false and misleading testimony during her sworn on-the-record (OTR) interview.” FINRA’s findings state further: “FINRA initiated a review of certain transaction reporting of municipal securities at Foster’s member firm and in connection with its review, sent the firm information request seeking information related to the firm’s transaction reporting of municipal securities, and its related supervision. Foster was the designated registered principal with supervisory responsibilities at the firm related to Municipal Securities Rulemaking Board (MSRB) Rule G-14 relating to trade reporting in municipal securities. Specifically, Foster created and produced false and misleading responses to FINRA’s requests for information in an effort to lead it to believe that she had conducted supervisory reviews for transaction reporting of municipal securities in February 2014, March 2014, and April 2014.”

Ms. Foster also allegedly “provided false and misleading testimony when she stated that she had conducted contemporaneous supervisory reviews for trade reporting of municipal securities in February 2014, March 2014, and April 2014 and dated the second set of reports on the dates she conducted the reviews, and when she stated that during the course of FINRA’s inquiry she had not created any documents to make it appear as though she had conducted supervisory reviews for trade reporting of municipal securities when she had not conducted any such reviews,” according to FINRA. She was consequently barred from acting as a broker or otherwise associating with firms that sell securities to the public.

If you have lost money investing with Suzette Foster, you may be able to recover your losses. Call Fitapelli Kurta at 877-238-4175 for a free consultation. All cases are taken on a contingency basis: Fitapelli Kurta only gets paid if and when you collect funds. Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.