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John Townshend: Regulators Sanctions Tulsa Advisor
Palm Beach Capital Corporation financial advisor John Townshend (CRD# 2784752) was recently sanctioned by state securities regulators in connection with findings of misconduct. Securities and Exchange Commission records show that he is currently registered as an investment advisor in Tulsa, Oklahoma.
According to a disclosure on Mr. Townshend’s Financial Industry Regulatory Authority (FINRA) BrokerCheck report, the Arkansas Securities Department sanctioned Mr. Townshend in February 2022. As part of a consent order issued by the Department, Mr. Townshend agreed to withdraw his application for registration in the state in relation to findings he gave unsuitable investment advice and breached his fiduciary duty. The disclosure states further that the alleged misconduct in question involve his recommendation that “two elderly Arkansans in their mid-80s who were in poor health” sell $650,000 in annuities and purchase an illiquid unregistered private fund. He also allegedly failed to disclose to the investors that he owned, created, and managed the fund in question. He was barred from applying for registration in the state for 180 days.
According to the Financial Industry Regulatory Authority and the Securities and Exchange Commission, John Townshend holds 13 years of securities industry experience. Based in Tulsa, Oklahoma, he has been registered as an investment advisor with Palm Beach Capital Corporation since 2015. His past registrations include Hornor Townsend & Kent, 1st Global Capital Corporation, and MONY Securities Corporation. His credentials include the passage of four securities industry qualifying exams: the Investment Company Products/Variable Contracts Representative Examination, or Series 6; the General Securities Representative Examination, or Series 7; the Uniform Securities Agent State Law Examination, or Series 63; and the Uniform Investment Adviser Law Examination, or Series 65. He is licensed as an investment advisor in Oklahoma. (Information current as of October 1, 2022.)
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