According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Chuck Roberts (Roberts), currently associated with Stifel, Nicolaus & Company, Incorporated, has at least 18 disclosable events. These events include 18 customer complaints, alleging that Roberts recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.
FINRA BrokerCheck shows a pending customer complaint with a damage request of $5,000,000.00 on December 05, 2024.
Claimant alleges breach of fiduciary duty, negligence, fraud, breach of contract, and violation of sections 10(b) and 20(a) of the securities exchange act and rule 10b-5.
FINRA BrokerCheck shows a pending customer complaint with a damage request of $1,000,000.00 on December 02, 2024.
Claimants allege breach of fiduciary duty, negligence, fraud, breach of contract, violation of sections 10(b) and 20(a) of the securities exchange act and rule 10b-5, and violation of the florida securities and investor protection act.
FINRA BrokerCheck shows a pending customer complaint with a damage request of $1,000,000.00 on October 02, 2024.
Claimants allege breach of fiduciary duty, negligence, fraud, breach of contract, violation of sections 10(b) and 20(a) of the securities exchange act and rule 10b-5, and violation of the florida securities and investor protection act.
FINRA BrokerCheck shows a pending customer complaint with a damage request of $100,000.00 on February 29, 2024.
Claimants allege breach of fiduciary duty, negligence, fraud, breach of contract, and violation of the florida securities and investor protection act.
FINRA BrokerCheck shows a pending customer complaint with a damage request of $5,000,000.00 on December 14, 2023.
Claimants allege breach of fiduciary duty, negligence, fraud, breach of contract, and violation of the florida securities and investor protection act.
FINRA BrokerCheck shows a pending customer complaint with a damage request of $100,000.00 on November 14, 2023.
Claimants allege violation of common law fraud, breach of fiduciary duty, and negligence
FINRA BrokerCheck shows a pending customer complaint with a damage request of $1,000,000.00 on October 19, 2023.
Claimants alleges violations of california corporations code, violation of section 10(b) of the securities exchange act, violation of regulation best interest, and breach of fiduciary duty.
FINRA BrokerCheck shows a pending customer complaint with a damage request of $5,000,000.00 on October 19, 2023.
Claimants allege breach of fiduciary duty, negligence, fraud, breach of contract, violation of the new jersey uniform securities law, and violation of the florida securities and investor protection act.
FINRA BrokerCheck shows a pending customer complaint with a damage request of $1,000,000.00 on October 11, 2023.
Claimants allege breach of fiduciary duty, negligence, fraud, breach of contract, violation of the new jersey uniform securities law, and violation of the florida securities and investor protection act.
FINRA BrokerCheck shows a pending customer complaint with a damage request of $500,000.00 on August 11, 2023.
Claimants allege breach of fiduciary duty, negligence, fraud, and breach of contract.
FINRA BrokerCheck shows a pending customer complaint with a damage request of $1,000,000.00 on July 21, 2023.
Claimants allege breach of fiduciary duty, negligence, fraud, breach of contract, and violation of the florida securities and investor protection act.
FINRA BrokerCheck shows a pending customer complaint with a damage request of $5,000,000.00 on June 09, 2023.
Claimants allege breach of fiduciary duty, negligence, fraud, breach of contract, and violation of the florida securities and investor protection act.
FINRA BrokerCheck shows a pending customer complaint with a damage request of $1,000,000.00 on May 26, 2023.
Claimants allege breach of fiduciary duty, negligence, fraud, breach of contract, and violation of the california corporations code.
FINRA BrokerCheck shows a pending customer complaint with a damage request of $500,000.00 on May 24, 2023.
Claimants allege breach of fiduciary duty, negligence, fraud, breach of contract, and violation of the florida securities and investor protection act.
FINRA BrokerCheck shows a pending customer complaint with a damage request of $5,000,000.00 on May 12, 2023.
Claimants allege breach of fiduciary duty, negligence, fraud, breach of contract, and violation of the florida securities and investor protection act.
FINRA BrokerCheck shows a award / judgment customer complaint with a damage request of $5,000,000.00 on May 10, 2023.
Claimants allege a breach of fiduciary duty, negligence, fraud, breach of contract, violation of the florida securities and investor protection act, and violation of erisa.
FINRA BrokerCheck shows a award / judgment customer complaint with a damage request of $5,000,000.00 on May 09, 2023.
Chuck roberts was a subject of the customer’s complaint against his member firm that asserted the following causes of action: breach of fiduciary duty; negligence; negligent supervision; fraud; breach of contract; and violation of the florida securities and investor protection act.
FINRA BrokerCheck shows a pending customer complaint with a damage request of $5,000,000.00 on May 03, 2023.
Claimants allege breach of fiduciary duty, negligence, fraud, breach of contract, and violation of the florida securities and investor protection act.
Under the securities laws brokers are obligated to act in their clients’ best interests and provide only suitable recommendations for investments to the client. In addition, the SEC has promulgated ‘Regulation Best Interest (Reg BI)‘ which according to the SEC enhanced the broker-dealer standard of conduct beyond existing suitability obligations and requires broker-dealers to act in the best interest of a retail customer when making a recommendation of any securities transaction or investment strategy involving securities. Regulation Best Interest and the fiduciary standard for investment advisers are drawn from key fiduciary principles that include an obligation to act in the retail investor’s best interest and not to place their own interests ahead of the investor’s interest.
Brokers have an obligation to first obtain and evaluate sufficient information about a retail investor to form a reasonable basis to believe the account recommendations are in the retail investor’s best interest. Recommendations cannot be based on materially inaccurate or incomplete information. The cost of the recommendation and information about the investor are always part of material information. Types of costs that must be considered including account fees, commissions and transaction costs, tax considerations, as well as indirect costs.
In addition to obligation to understand the customer the broker must also investigate the product being sold. FINRA firms have an obligation to conduct a reasonable investigation of the issuer and the securities they recommend in offerings. A brokerage firm has a special relationship with a customer from the fact that in recommending the security, the broker represents to the customer that a reasonable investigation has been made. So, a brokerage firm should not depend solely on information from the issuer regarding a company, but must perform its own thorough investigation.
Another protective measure for investors is to mandate broker discloses. FINRA requires the broker to disclosure events such as customer complaints, IRS tax liens, judgments, investigations, terminations, and even criminal matters on their public BrokerCheck reports. FINRA has recognized that recent studies indicate future regulatory and customer complaint issues can be predicted for brokers who have experienced them before. FINRA’s Office of the Chief Economist (OCE) published a study showing the predictability of disciplinary and disclosure events based on past similar events. The OCE study showed that past disclosure events, including regulatory actions, customer arbitrations and litigations of brokers, have significant power to predict future investor harm. The data shows that where a member firm on-boards brokers with a significant history of misconduct there is a high likelihood that the broker will continue to engage in similar behavior.
Roberts entered the securities industry in 1990. Roberts has been registered as a Broker with Stifel, Nicolaus & Company, Incorporated since 2016.
Investors who have suffered losses are encouraged to contact us at (800) 810-4262 for consultation. At Gana Weinstein LLP, our attorneys are experienced representing investors who have suffered securities losses due to the mishandling of their accounts. Claims may be brought in securities arbitration before FINRA. Our consultations are free of charge and the firm is only compensated if you recover.