Former Sigma Financial broker Kevin Looser was recently suspended for allegedly
participating in unapproved outside business activities.
Looser worked for Sigma Financial, based out of Lakeview, OH from September
2005 to October 2017 before he was
discharged from the firm for allegedly failing to notify Sigma Financial that he was participating
in an outside business activity. Failing to inform his firm in a timely
manner violated FINRA Rule 3270, and resulted in a four month suspension
by FINRA. Earlier this month the FINRA Department of Enforcement accepted
and approved a Letter of Acceptance, Waiver, and Consent (AWC) submitted
by Looser. In signing the AWC, Looser agreed to pay a $10,000 fine.
According to the allegations mentioned in the AWC, Looser took part in
14 private securities transactions without informing Sigma Financial of
the transactions or gaining approval in advance. In February 2012, he
disclosed that he was a co-owner of a company that specialized in developing
a video platform designed to connect on-call interpreters with limited
language or deaf individuals. However, between September 2011 and July
2014, Looser participated in selling and soliciting membership units to
investors. Such activity was not included in the disclosure he submitted
to his firm. He participated in raising nearly $430,000. FINRA determined
he had violated NASD Rule 3040 and FINRA Rule 2010.
Do You Have Experience Working with Kevin Looser?
fail to properly supervise their brokers they can be held accountable for their misconduct.
Did you experience financial losses due to your investments made with former
broker Kevin Looser? Meyer Wilson would like to hear from you.
Give our office a call at (888) 390-6491 and speak to one of our investment fraud attorneys today.