The law firm of Oakes & Fosher is presently investigating the alleged misconduct of securities broker Lynn Faust. According to her publicly available FINRA BrokerCheck report, Lynn Faust has been the subject of multiple complaints over the course of her career.

Lynn Faust is a South Carolina based securities broker. She has worked in the securities industry for thirty-eight years. During her career, she has been registered with four different securities firms.

Her Registrations

  • Waddell & Reed (1981-1982)
  • Painewebber Incorporated (1982-1988)
  • Raymond James & Associates (1988-2018)
  • Stifel, Nicolaus & Company (2018-Present)

The Allegations 

  • In April 1988, a customer alleged that Lynn Faust omitted material facts and recommended unsuitable investments. This case went to arbitration where the customer was awarded $2,300 in damages.
  • In March 1989, a customer alleged that Lynn Faust made material misrepresentations and recommended unsuitable investments. This case went to arbitration where the customer was awarded $8,000 in damages.
  • In October 2018, Lynn Faust was discharged from her position at Raymond James. This was due to concerns the firm had relating to the nature of her UIT investment activity.
  • In November 2018, a customer alleged that Lynn Faust made material misrepresentations regarding Market Linked Notes. This case is currently pending. The customer is seeking $59,000 in damages.
  • In January 2019, a customer alleged that Lynn Faust made material misrepresentations about investments. This case was settled for $81,895 in damages.

What Does This Mean?

Misrepresentation occurs when a securities broker provides their customer with information that has been falsified in some way. This can be a result of either the broker’s own fraudulent intent, or as a result of the broker’s own negligence. However, intent is irrelevant regarding the losses that misrepresentation can cause an investor to incur. These losses can be significant because it can lead to investors making important financial decisions based on misinformation.

Oakes & Fosher Can Help

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 Lynn Faust, please contact Oakes & Fosher for a free and private consultation. We work on a contingency basis, which means there are no fees charged unless we collect for you.