Securities Arbitration Lawyers BlogFormer Cetera-related Broker Clay E. Hoffman Has 19 BrokerCheck Disclosures; FINRA Actions
Silver Law Group is investigating former Georgia-based Summit Brokerage Services, Inc. (CRD# 34643) broker Clay E. Hoffman (CRD# 4371162) due to multiple FINRA actions pending against him and his racking up of 16 BrokerCheck disclosures in the past five years.
FINRA has initiated four regulatory actions against Hoffman in 2016, according to Hoffman’s FINRA BrokerCheck report. Our attorneys have been monitoring FINRA’s actions against Hoffman.
The first, initiated in February, alleged Hoffman exercised discretion in a customer’s account and made unauthorized transactions without written authorization from the customer or the approval of Hoffman’s firm. Hoffman was fined $5,000 and suspended for 15 days.