Jerry William Burch, formerly of Westfield Bakerink Brozak in Newport Coast, California

In June 2009, registered principal Jerry William Burch was barred from working with any FINRA firm or member, and was ordered to pay a $28,000 fine. According to FINRA, Burch operated a scheme designed to defraud and or deceive his customers into purchasing securities.

According to FINRA’s full disciplinary report of Burch, the broker recommended purchase of a stock to his customers, while failing to disclose that his wife’s corporation was planning to sell the stock. Burch failed to notify his employing firm, Westfield Bakerink Brozak, of his interest in the stock, though he was required to do so in writing.

Burch then, FINRA said, doctored his firm records to show that his customers’ purchases of the stock were unsolicited, when in fact they were.

This is not the first disciplinary action involving Burch. The Massachusetts division of the National Association of Securities Dealers (NASD) in 2002 sanctioned Burch after they found more than 10 customer complaints since 1986. Former clients have alleged churning, misrepresentation, and unsuitable stock recommendations. In February 2002 Burch was discharged from this then-firm, Merrill Lynch, for making transactions in an elderly couple’s account without a valid power of attorney.

Westfield Bakerink Brozak has employed Burch since February 2002. He worked at Pacific American Securities in San Diego from March 2000 to February 2002, and Merrill Lynch from November 1991 up to his dismissal from the firm.

We are currently investigating Mr. Burch.  If you or an organization with which you are affiliated have entrusted your money to Mr. Burch, we would like to hear from you.


FURTHER READING

In April 2009, the NASD barred Jerry William Burch from working with any registered FINRA firm or member. The NASD issued the following report regarding disciplinary actions relating to Jerry William Burch:

Jerry William Burch (CRD #1450138, Registered Principal, Newport Coast, California) was fined $28,000 and barred from association with any FINRA member in any capacity. The sanctions were based on findings that Burch made recommendations to customers to purchase a stock without disclosing that a relative’s account was simultaneously selling the same stock and failed to notify his member firm of the relative’s outside account. The findings stated that Burch made false representations to his firm that customer purchases were unsolicited, resulting in false firm records. The findings also stated that Burch failed to amend his Form U4 with material information. This decision has been appealed to the NAC. The sanctions are not in effect pending consideration of the appeal. (FINRA Case #2005000324301)



HAVE YOU INVESTED YOUR MONEY WITH JERRY WILLIAM BURCH?

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