Securities Fraud and Mismanagement

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 Certified Financial Planner Board of Standards, Inc. (CFP ) announced June 16, 2017 that it has imposed an automatic interim suspension of Randy Alford’s CFP certification.  If you suffered losses with Limited Partnerships recommended by Mr. Alford call the Law Offices of Jeffrey Pederson at 1-866-817-0201 for a confidential and free consultation of your rights.

The CFP Board imposed an automatic interim suspension, effective March 16, 2017, after discovering that FINRA barred Mr. Alford from associating in any capacity with any FINRA member firm, which includes every licensed securities brokerage, for failing to adequately respond to requests for information by FINRA during its investigation of Alford.

The FINRA investigation began after FINRA discovered Mr. Alford brokerage firm, Southeast Investments, terminated him from his position as a registered representative for failing to disclose an outside business activity involving a limited partnership and for “selling away,” which is the selling investments  without his firm’s approval and thereby circumventing the firm’s compliance department that detects fraudulent securities transactions.

The failure to respond to FINRA’s request for information violated FINRA Rule 8210, and caused FINRA to suspend Mr. Alford in December 2015. The suspension from January 2016 to March 2016 converted to a permanent bar from the securities industry due to Mr. Alford’s failure to timely request termination of his suspension.

Pursuant to Article 5.7 of CFP Board’s Disciplinary Rules and Procedures, “[a]n interim suspension shall immediately be issued without a hearing when CFP Board Counsel receives evidence of a conviction or a professional discipline in accordance with Article 13.1 for…revocation of a financial professional license (securities, insurance, accounting or bank-related license).” Under the interim suspension order, Mr. Alford’s right to use the CFP® certification marks is suspended pending CFP Board’s completed investigation and possible further disciplinary proceedings.