Moloney Securities Broker Jeffrey Cohen Hit With Unsuitability Allegations

Jeffrey Cohen (CRD: #2528929) is a registered broker and investment advisor currently employed by Moloney Securities Asset Management LLC (CRD#:282448) of Henderson, NV. His previous employers include Moloney Investment Advisory LLC (CRD#:282140) of Laguna Miguel, CA, Moloney Securities Co., Inc. (CRD#:38535) also of Henderson, and Western International Securities, Inc. (CRD#:39262), of Westlake Village, CA. He has been in the industry since 1994.

Cohen is the subject of seven disclosures, six of which were filed in the last year. From 8/23/2019 through 7/13/2020, these disputes all allege “unsuitability” and unsuitable recommendations of “alternative investments” in their claims against Cohen. The combined claims total $7,200,000. None of the claims contain a rebuttal statement from Cohen.

The seventh customer dispute filed 6/9/2001 by a client who attended a seminar where Cohen spoke. The allegations included “intentional misrepresentation, negligent misrepresentation and breach of fiduciary duty related to financial advice provided in 1996.” In the seminar, Cohen gave a presentation regarding a “charitable tax planning strategy.” The customer was not a client of Cohen, but incorrectly used his advice, and also committed other violations. The customer’s attorney sued multiple parties, including Cohen, who was required to contribute $5,000 to the eventual settlement.  Requested damages totaled $400,000, and the case was settled for $320,000.

Have You Invested With Jeffrey Cohen?

Stockbrokers and brokerage firms have a basic responsibility to deal fairly with investors and to make “suitable” investments. The Financial Industry Regulatory Authority, or “FINRA” sets the standards in the brokerage industry for the suitable sale of investments to brokerage clients. FINRA’s suitability rule contains three primary brokerage responsibilities: 1) To perform reasonable-basis suitability analysis, 2) To perform customer-specific suitability analysis, and 3) To perform quantitative suitability analysis.

Silver Law Group represents investors in securities and investment fraud cases. Our lawyers are admitted to practice in New York and Florida and represent investors nationwide to help recover investment losses due to stockbroker misconduct. If you have any questions about how your account has been handled, call to speak with an experienced securities attorney. Most cases are handled on a contingent fee basis, meaning that you won’t owe us until we recover your money for you. Contact us today and let us know how we can help.