Andrew Mandell Barred for Refusing to Appear During Investigation

Attorney Advising Disclaimer

FINRA barred Andrew Jason Mandell, formerly of Network 1 Financial Securities in Oakland and Olympus Securities of New York, for refusing to cooperate with a FINRA investigation into potential violations of Section 5 of the Securities Act, which prohibits sales of non-exempt securities that are unregistered.

AWC #2017052907901

The report states that when directed to provide on-the-record testimony related to the alleged Section 5 violations, Mandell informed FINRA that he would not appear. In his 23 years of experience, Mandell (CRD #2194970) has been associated with 17 firms, including several that FINRA has since expelled from the industry.

Mandell in 1994 entered into a consent agreement with the State of Hawaii Commissioner of Securities for failure to register as a securities salesperson and for securities fraud.

As we originally wrote in 2013, some brokers engage in a practice known as "cockroaching," in which they repeatedly jump from one firm to another, sometimes in a way as to avoid detection of misconduct or ahead of a FINRA investigation. FINRA in 2017 and 2018 priorities letters vowed to crack down on so-called cockroach culture.

If you have invested with Andrew Jason Mandell or with any broker or financial adviser who has sold you unregistered securities or products outside of the scope of their association with a FINRA-member firm or in contravention of industry or firm policy, and these violative transactions have proven harmful to your investments or interests, please call The Law Offices of Jonathan W. Evans & Associates at (800) 699-1881 for investigation and consultation.

Related Posts
  • After $13 Million in Penalties for 'Widespread Failure,' Oppenheimer Fined $500,000 for Supervisory and Suitability Gaps Read More
  • FINRA barred former Independent Financial Group (IFG) broker Brett Arthur Hartvigson of San Diego, California for refusing to cooperate with its investigation into allegations that were part of a complaint. In 2021, while associated with IFG, Brett Harvgi Read More
  • Stifel Nicolaus Failed to Detect Unsuitable Recommendations Despite Risk Policy, Says FINRA Read More