Articles Tagged with stockb

Broker Raymond Thomas Clark (CRD# 3120696) was permanently barred by FINRA for failing to appear for FINRA-requested on-the-record testimony related to an investigation into whether he executed excessive and/or unauthorized transactions in customer accounts, exercised discretion without authorization, and accepted trade instructions from an individual who was not authorized to exercise trading authority in a customer account.

Clark first became a registered securities broker in 1998 and was employed by the following broker-dealers from 1998- 2014:  Global Capital Markets, LLC (Melville, NY), Global Capital Securities Corp. (Englewood, CO), J.P. Turner and Co., LLC (Atlanta, GA), Bathgate Capital Partners LLC (Buffalo, NY), J.P. Turner and Co., LLC (Buffalo, NY), Paulson Investment Co., Inc. (Buffalo, NY), First Midwest Securities, Inc. (Buffalo, NY), and Dynasty Capital Partners, Inc. (Buffalo, NY).

In 2011 and 2014, Clark was suspended for using his personal email account to communicate with customers regarding business-related matters, in violation of FINRA rules and the firm’s procedures.  Investors should be weary when their broker uses a personal email account to communicate with them.  In many cases, the broker is doing so in order to circumvent FINRA rules and to hide illegal activities from his employer.  This was the case with Clark, who by using his personal email account, bypassed the firm’s supervisory review of emails and caused the firm to fail to preserve required records, as well as not reporting a customer’s complaint concerning overcharging of commissions.