If you have invested with stockbroker Charles H. Clark, Jr., you may be able to recover your loses through FINRA arbitration or securities litigation.
According to FINRA reports, Charles Clark, Jr. (CRD No. 5367693) of Indianapolis, Indiana was recently terminated by his brokerage firm, LPL Financial, for borrowing money from a client in violation of firm policy. Shortly before his termination, in December 2014, Charles Homer Clark, Jr. was named in a FINRA arbitration proceeding where a customer of LPL Financial alleged that he and a colleague engage in the sale of unregistered securities (unapproved notes) during the period December 2010 through February 2012.
In the securities industry, when a stockbroker like Charles Clark, Jr. sells investments (such as unregistered notes )that are not approved by the brokerage firm it is called “selling away”. Generally speaking, stockbrokers are required to only sell investments that have been reviewed and approved by the brokerage firm they are registered with. Even if a broker sells investments that are not approved to customers of the firm, in many cases the brokerage firm may be held liable for losses in those investments even if the investment itself was not approved. Moreover, because brokerage firms like LPL Financial have a regulatory duty to supervise its brokers like Charles Homer Clark, Jr. and the transaction itself to ensure that securities are suitable for the firm customers, brokerage firms may be held liable for investor losses that stem from “selling away” or unapproved borrowing of funds from a firm customer.
If you are an investor that has suffered losses investing with stockbroker Charles H. Clark, Jr., you may be able to recover your losses through FINRA arbitration or securities litigation. Please call Kons Law Firm at (860) 920-5181 for a FREE, NO OBLIGATION consultation to discuss your investment loss recovery options.
Kons Law Firm represents investors nationwide in securities arbitration and litigation matters. To learn more about the Firm’s securities litigation and FINRA arbitration practice, please visit www.investmentfraudattorneys.com.
