November 13, 2023 – An AWC was issued in which Fisher was fined $5,000 and suspended from association with any FINRA member in all capacities for two months. Without admitting or denying the findings, Fisher consented to the sanctions and to the entry of findings that he circumvented his member firm’s policies when he acted in fiduciary capacities on behalf of, and accepted being named a beneficiary by, a firm customer to whom he was not related. The findings stated that the customer granted Fisher power of attorney and named him the first successor trustee of the customer’s revocable living trust. The customer also named Fisher as a 10 percent beneficiary of the trust, such that Fisher stood to inherit over $100,000. After the customer’s death, Fisher became the primary trustee of the trust and the executor of the customer’s estate. In addition, Fisher signed annual compliance questionnaires certifying that he understood the firm’s policies and had complied and would continue to comply with them.
The suspension is in effect from December 4, 2023, through February 3, 2024. (FINRA Case #2021071152401)
Matthew Schwartz
Matthew Schwartz represents clients harmed by lawyers, accountants, insurance professionals, real estate agents, brokers, financial advisors, and other trusted professionals. He handles Florida litigation and nationwide FINRA arbitration. He has been recognized in The Best Lawyers in America® and named to the Best Law Firms® list.
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