John E. Burns Suspended By FINRA Following Allegations Of Unauthorized Trading

The law firm of Oakes & Fosher is presently investigating the alleged misconduct of former securities broker John E. Burns. According to his publicly available FINRA BrokerCheck report, John E. Burns has been the subject of multiple complaints.

John E. Burns was a Missouri based securities broker. He worked in the securities industry for eight years. During his career, he was registered with four different securities firms. He is no longer working as a registered securities broker in any fashion.

His Registrations

• Edward Jones (2007-2011)


• UBS Financial Services (2011-2014)


• Ameriprise Financial Services (2014-2015)


• Sagepoint Financial (2015)

• In November 2015, a customer alleged that John E. Burns recommended unsuitable investments and made material misrepresentations involving the recommendation of equity investments and fees charged to them. This case was settled for $45,000 in damages.


• In March 2016, an attorney, on behalf of a customer, alleged that John E. Burns made fraudulent representations that convinced the customer to approve the transfer of their investments to Ameriprise Financial. The attorney also alleged that Burns falsified account agreements and executed transactions that had not been authorized by the customer. This case was settled for $43,865 in damages.


• In October 2016, a customer alleged that John E. Burns unsuitably recommended that they loan money to a third party. They also alleged that Burns made an unsuitable investment recommendation. This case was settled for $125,000 in damages.


• In November 2016, John E. Burns was officially sanctioned by FINRA. The findings in this matter state that he took part in a pattern of unauthorized trading in nine different customer accounts. He also allegedly made unsuitable and risky investment recommendations to an elderly couple. Due to these alleged actions, he was fined $17,500 and suspended from acting as a securities broker in any fashion for a period of fourteen months.

Many investors are unaware of the legal recourse available to them after losing money due to securities broker fraud and/or negligence. The truth is that investors who have lost money in this fashion may actually be entitled to damages.

Oakes & Fosher dedicates its entire legal practice to helping investors across the nation. If you, or someone you know, have lost money investing with John E. Burns, please contact Oakes & Fosher for a free and private consultation. Oakes & Fosher handles cases on a contingency basis, which means there are no fees charged unless we collect for you.