{"id":1675,"date":"2015-07-11T11:17:34","date_gmt":"2015-07-11T11:17:34","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2015\/07\/massachusetts_regulator_charge"},"modified":"2022-03-22T14:25:40","modified_gmt":"2022-03-22T19:25:40","slug":"massachusetts-regulator-charge","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/massachusetts-regulator-charge\/","title":{"rendered":"Massachusetts Regulator Charges Securities America Over Bait and Switch Ads By Broker Accused of Targeting Senior Investors"},"content":{"rendered":"

\t\t\t\tMassachusetts Secretary of the Commonwealth William Galvin is charging Securities America with inadequate supervision of a broker who is accused of using a “grossly deceptive” radio ad campaign to target older investors. The state regulator said that the financial firm shouldn’t have approved the spots that Barry Armstrong ran on his AM radio show. His show, which airs on WRKO-AM, is syndicated on different stations.<\/p>\n

The broker purportedly ran ads asking listeners to call for information related to Alzheimer’s Disease when what Armstrong really was doing was collecting their contact information so he could offer to sell them financial advice. Galvin’s office said that the broker engaged in ‘bait and switch’ by falsely advertising one service when he was really selling another type of service.<\/p>\n

The regulator contends that Securities America failed to identify or prevent Armstrong’s unethical conduct by neglecting to ask even one question about the content of the ads or attendant mailing materials. Now, the state wants a censure, a cease-and-desist order, and a fine imposed against the firm.
\n Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Massachusetts Secretary of the Commonwealth William Galvin is charging Securities America with inadequate supervision of a broker who is accused of using a “grossly deceptive” radio ad campaign to target older investors. The state regulator said that the financial firm shouldn’t have approved the spots that Barry Armstrong ran on his AM radio show. His […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3752,3829,3741,3803],"tags":[],"class_list":["post-1675","post","type-post","status-publish","format-standard","hentry","category-financial-firms","category-securities-america","category-securities-fraud","category-senior-investors"],"yoast_head":"\nSecurities America Charged Over Bait and Switch Ads — Investor Lawyers Blog<\/title>\n<meta name=\"description\" content=\"Massachusetts Secretary is charging Securities America with inadequate supervision of a broker who used bait and switch ads to target older investors.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/massachusetts-regulator-charge\/\" 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