Securities Lawyers Blog

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Philip Tom (Tom), previously associated with RBC Capital Markets, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Tom 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 $500,000.00  on April 22, 2026.

Some time around April 23, 2026, the Firm received a written complaint by email from a client of the Firm’s Investment Advisor Representative (‘IAR’). The customer’s account was opened with the Firm on or about July 2025 and was subsequently funded by an in-kind transfer of a concentrated equity position in CRDO (the ‘Position’) on or about February 2026.\, \, The customer alleges that, at the time of transfer and again by text message on or about [date], he verbally instructed the RR to refrain from selling the Position and to hold it until it reached $200 per share, while permitting trading in other securities held in the account. Between [first sale date] and [last sale date], the RR executed a series of sales of the Position. The customer alleges those sales were unauthorized, contrary to his instructions, and caused losses and lost appreciation of approximately $500,000.\, \, The Firm acknowledged the complaint in writing on April 24, 2026, issued a Legal Hold the same day, and opened an internal investigation, which remains ongoing.\, \,