Public records provided by the Financial Industry Regulatory Authority (FINRA) and accessed on March 2, 2018 indicate that former Colorado-based Spencer Edwards broker Joseph Lavigne has been sanctioned by FINRA in connection to alleged rule violations and is currently not affiliated with any broker-dealer firm. Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Lavigne (CRD# 1914655).
Joseph Lavigne has spent 28 years in the securities industry and was most recently registered with Spencer Edwards in Centennial, Colorado (2013-2018). Previous registrations include GVC Capital in Greenwood Village, Colorado (2002-2013); Schneider Securities in Denver, Colorado (2000-2002); Global Capital Securities Corporation in Englewood, Colorado (1991-2000); and RCL Northwest (1989-1991). He has passed five securities industry examinations: Series 65 (Uniform Investment Adviser Law Examination), which he obtained on December 21, 1999; Series 63 (Uniform Securities Agent State Law Examination), which he obtained on May 6, 1989; Series 55 (Limited Representative-Equity Trader Exam), which he obtained on June 29, 1999; Series 7 (General Securities Representative Examination), which he obtained on April 15, 1989; and Series 24 (General Securities Principal Examination), which he obtained on June 24, 1993. He is currently not registered with any state or firm.
According to his BrokerCheck report, he was recently sanctioned by FINRA.
In December 2017 FINRA sanctioned him in connection to allegations he conducted inadequate due diligence in connection to the offering of convertible notes. FINRA’s findings state that: “The ability to lease signage space in high traffic areas was central to the issuer’s business model. The issuer’s claim that it had secured prime locations for its signs was a selling point communicated to potential investors by both the issuer and Lavigne. The due diligence performed did not adequately address the issuer’s financial condition, the reasonableness of its projections, or the background of its principals.” Mr. Lavigne also allegedly failed to adequately verify representations the issuer made and failed to identify and investigate litigation that alleged securities fraud and existing liens connected to the issuer’s officers and predecessors which stood to impact its assets and its business. Consequently, FINRA found, he had no reasonable basis upon which to believe the products were suitable for any customer, though he and his partner recommended and sold the notes, for which he received $8,520. FINRA’s findings also stated that he distributed misleading sales materials to customers or potential customers, failed to adequately supervise the firm’s due diligence, and failed to ensure the firm properly investigated information which had been provided by the notes’ issuer. He was issued a 30-day suspension and was ordered to pay a fine of $14,500 as well as disgorgement of $8,520.
If you or someone you know has a complaint regarding Joseph Lavigne, call Fitapelli Kurta at 877-238-4175 for a free consultation. You may be eligible to recoup lost funds. Fitapelli Kurta accepts every case on contingency: we only get paid if and when you collect money. Time to file your claim may be limited, so we recommend you avoid delay. Call 877-238-4175 now to speak to an attorney for free.