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Ray
Ray, Employment lawyer
Category: Employment Law
Satisfied Customers: 37016
Experience:  30 years in Employment law
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The CEO of the company that employs me has s under age

Customer Question

The CEO of the company that employs me has his under age daughters (not yet 18) on the telephone calling financial advisors to solicit their interest in our investment offerings. They are also not licensed with FINRA. In the script there are a number of misrepresentations - that they are the #1 REIT in the country and they have never lost money on a property or program (both false). Is this a securities violation and how serious might the offense be?
Submitted: 1 year ago.
Category: Employment Law
Expert:  Ray replied 1 year ago.

Hi and welcome to JA. I am Ray and will be the expert helping you today.

You are correct that there maybe multiple violations present.Anytime an unlicensed person under 21 no less is making solicitation phone calls with untrue statements the employer is asking for trouble.

As an employee here you may decide at some point that you need to look for another job, this is bound to end badly for the employer.They appear to be clueless about how to properly do business.They could be sanctioned here and loose their license to do business for such practices.

You could always file an anonymous complaint here, this might get the CEO to stop this dangerous practice..

https://www.finra.org/sites/default/files/InvestorDocument/p118638.pdf

You are correct to be worried sounds like the CEO is clueless as you suggest here.It endangers everyone in the company.I appreciate the chance to help you today.

Thanks again.

Expert:  Ray replied 1 year ago.
I am so sorry that you are having to deal with all of this at work.You might consider an anonymous complaint.
If you can leave a positive rating it is always much appreciated.Thanks again.I wish you the best here.
Expert:  Ray replied 1 year ago.
I wanted to add that if you are forced out of employment by this employer you could claim they were engaged in illegal activity and you were forced to resign.Also if they have validated complaints this may support your claim for UI benefits.You might want to keep a copy of any complaint for your personal files just in case here.
You never know you may need the protection that you reported this violation for your personal protection.Thanks again.

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