Former South Florida-Based RBC Broker Lisa J. Lowi Under Investigation for Litany of Energy-Related Customer Complaints

Silver Law Group is investigating former South Florida-based RBC Capital Markets (“RBC”) broker Lisa J. Lowi (CRD# 1347790) for amassing 23 customer complaints since early 2015, many of which deal with energy-related investments.

According to Lowi’s Financial Industry Regulatory Authority (“FINRA”) BrokerCheck report, 23 customer complaints have been reported against Lowi since February 2015, of which 14 are related to investments in the energy sector.  The remaining complaints do not indicate the particular investment, so more complaints could potentially concern energy sector investments.

The complaints allege millions of dollars in investor losses and damages, and five have already settled.  The remaining complaints are pending, and one has been withdrawn according to FINRA records.

Lowi was most recently employed by Janney Montgomery Scott, LLC from November 2015 to April 2016.  Prior to her time at Janney Montgomery, Lowi was employed by RBC from October 2009 to November 2015.  Lowi is currently unlicensed and not employed in a securities-related capacity.

Among other basic tenets, brokers are required to recommend suitable investments to their customers.  This requires that the broker 1) investigates and conducts due diligence into the investment’s properties including its benefits, risks, tax consequences, and other relevant factors to form a reasonable basis for the recommendation of the product; and 2) appropriately matches the investment with the customer’s specific investment needs and objectives, such as the customer’s retirement status, long or short-term goals, age, disability, income needs, or any other relevant factor.

Many brokers got caught up in the façade that was ever-increasing crude oil, recommending master limited partnerships (“MLPs”), bonds, private placements, stocks, and other oil and gas securities to conservative investors.  Many brokers allegedly neglected to conduct due diligence and investigate these investments and negligently recommended them to customers.

Many stockbrokers not only negligently recommended these oil and gas securities, they also failed to diversify, overconcentrating their customers’ funds and causing unhampered losses when the securities tanked.  Long is one of many brokers who have been accused of recommending unsuitable investments and overconcentrating investor accounts in these securities, and there are many more out there.

Silver Law Group has represented and currently represents many clients in these types of oil and gas products and can help you recover some of your losses.

If you lost money investing in oil and gas private placements, publicly-traded drilling partnerships, partnership bonds, or other oil and gas securities you may be entitled to recover some of your investment losses.  Please contact Scott Silver of the Silver Law Group for a free consultation at ssilver@silverlaw.com or toll free at (800) 975-4345 to find out how we may be able to help you recover some of your investment losses.