Lonna R. Dehn Ristvedt
Background Of Lonna R. Dehn Ristvedt (CRD)
Respondent first became registered with FINRA in November 2004, as an Investment
Company and Variable Contracts Products Representative (“IR”) and Investment
Company and Variable Contracts Products Principal (“IP”) of a member of FINRA. From
July 2010 through November 2017, Respondent was registered with FINRA as an IR and
IP, and associated with National Planning Corporation. From November 2017 through
November 2019, Respondent was registered with FINRA as an IR and IP, and associated
with another member of FINRA. On November 22, 2019, that member fn-m filed a Form
U5 voluntarily terminating Respondent’s association with the firm and registration with
FINRA. Although Respondent is not currently registered or associated with a FINRA
member, she remains subject to FINRA’s jurisdiction pursuant to Article V, Section 4 of
FINRA’s By-Laws. Respondent does not have any relevant disciplinary history.
Activity(s) Reported – Lonna R. Dehn Ristvedt
NASD Rule 3040 provides that “[p]rior to participating in any private securities
transaction, an associated person shall provide written notice to the member with which
he is associated describing in detail the proposed transaction and the person’s proposed
role therein and stating whether he has received or may receive selling compensation in
connection with the transaction….” Where, as here, the associated person will receive
selling compensation, the Firm must approve the proposed activity in writing. A
violation of Rule 3040 is also a violation of FINRA Rule 2010, which requires associated
persons, in the conduct of their business, to observe high standards of commercial honor
and just and equitable principles of trade.
In June 2015, Respondent solicited investors to purchase securities in Future Income
Payments, LLC. FIP represented itself as a structured cash flow investment, claiming to
purchase pensions at a discount from pensioners and then selling a portion of those
pensions as a “pension stream” to investors. FIP generally promised investors a 7% to 8%
rate of return on their investment. Respondent participated in the sale of $163,320 in FIP
purchase agreements to two investors in four separate transactions. Respondent received
at least $5,457.66 in commissions in connection with these transactions.
At all times during the stated period, Respondent’s employer member firm prohibited its
registered representatives from participating in private securities transactions without
prior written approval from the firm. Respondent did not provide notice to her firm prior
to participating in the transactions involving FIP, nor did she obtain approval from the
firm. Respondent also incorrectly attested on an Annual Compliance Questionnaire that
she did not participate in private securities transactions.
In April 2018, FIP ceased business, owing nearly $300 million in unpaid investor
payments. In a March 12, 2019 indictment, the United States charged FIP and its owner,
Scott A. Kohn, with conspiracy to engage in mail and wire fraud related to FIP’s
operations.
Can you expose the broker trying to trick you?
FINRA offers the free web tool BrokerCheck, which allows users to check a broker’s credentials, registration, and employment history. The disclosure part of BrokerCheck includes information on client conflicts, disciplinary proceedings, and specific financial and legal issues on the broker’s record.
Penalties And Sanctions
A four-month suspension from association with any FINRA member in any capacity; and A $5,000 fine.
The fine shall be due and payable either immediately upon reassociation with a member
Firm, or prior to any application or request for relief from any statutory disqualification
resulting from this or any other event or proceeding, whichever is earlier.
Respondent specifically and voluntarily waives any right to claim an inability to pay, now
or at any time hereafter, the monetary sanction imposed in this matter.
Respondent understands that if she is barred or suspended from associating with any
FINRA member, she becomes subject to a statutory disqualification as that term is
defined in Article III, Section 4 of FINRA’s By-Laws, incorporating Section 3(a)(39) of
the Securities Exchange Act of 1934. Accordingly, she may not be associated with any
FINRA member in any capacity, including clerical or ministerial functions, during the
period of the bar or suspension. See FINRA Rules 8310 and 8311.
Recent Activity(s)Of The Individual/Firm
In June 2015, Respondent engaged in four undisclosed and unapproved private securities
transactions in the total amount of $163,320. Respondent’s conduct violated NASD Rule
3040 and FINRA Rule 2010.
How To Spot A Fraud Finance Advisor (Infographic)
Help For Victims Of Lonna R. Dehn Ristvedt
If you have lost funds because of misrepresentation, unsuitable investment, or unsuitable investment strategy from Lonna R. Dehn Ristvedt. Then you can take legal action and get justice. Fraud, Malpractice & dereliction of duty should not be taken lightly, especially in this industry. We highly suggest that you notify authorities or seek legal action if your financial advisor or brokerage firm fails to abide by FINRA’s rules are regulations.
Financial advisors are regulatory & legally obligated to suggest (recommend) the most suitable investments/investment strategies to their clients. Their suggestions should have their client’s best interests and should be appropriate for their client’s goals and needs. Similarly, the brokerage firm which hires financial advisors also has a regulatory & legal obligation to keep a close watch and supervise their Financial Advisors’ practices & behavior. They need to make sure that the financial advisor is not being manipulative or having an unreasonable bias towards certain investments. If the financial advisor and/or the brokerage firm breaches these duties, then the client/customer may be entitled to a full or partial recovery of their losses.
Financial advisors need to have the interest of their clients when giving suggestions related to investments and investment strategies. Reasonable basis suitability requires the advisor to do their best to analyze & identify the risks and rewards associated with their suggested investment and/or investment strategy.
CapFi Financial Partners LLC
John Henry Geary
Dr. Henrique Duck, PhD in Media Studies and Critical Theory, specializes in writing detailed critics stories and reviews. He has contributed to prominent newspapers and websites, providing insightful analysis of media content and its effects on society.
