TransAmerica Financial Advisor Dismissal: A Dive into Unauthorized Trading Concerns
At Meyer Wilson, we’re committed to keeping our clients and the investment community informed about pivotal developments in the financial advisory landscape. A notable event has come to our attention: the dismissal of Wente Kao from TransAmerica Financial Advisors, spotlighting the critical issue of unauthorized discretionary trading.
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Unpacking the Dismissal Scenario
Wente Kao’s tenure at TransAmerica Financial Advisors came to an end on February 8, 2024, following allegations of unauthorized discretionary trading in advisory accounts. This move underlines the gravity with which firms and regulatory bodies view such infractions.
Regulations Against Unauthorized Trading
According to FINRA Rule 3260, brokers may only conduct discretionary trading in duly approved accounts—a safeguard against unauthorized activities. They must get written authorization to make trades without contacting their customer first.
FINRA Rule 2010 emphasizes the importance of maintaining high ethical standards in the financial trade, marking unauthorized trading as a significant breach.
Who is Wente Kao?
Wente Kao was registered with Transamerica Financial Advisors from 2012 to February 2024. He was terminated from Transamerica Financial Advisors on February 8, 2024. He is not currently registered with another brokerage firm.
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How Meyer Wilson Stands With Investors
If your investments were managed by Wente Kao and you have concerns, Meyer Wilson is here to help. Do not hesitate to contact us for a free consultation at 866-938-2021 or visit our website investorclaims.com.
For nearly two decades, Meyer Wilson has been a pillar of support for investors, advocating for their rights and diligently working to recoup investment losses. As a law firm acclaimed for our exclusive focus on representing investors on a contingency basis, our commitment is unparalleled. Allow our expertise to be your guide in navigating the complexities of recovering from securities fraud.
Article by: Courtney Werning, Esq.
Recovering Losses Caused by Investment Misconduct.