Securities Lawyers Blog
According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Christopher Monahan (Monahan), previously associated with RBC Capital Markets, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Monahan recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.
FINRA BrokerCheck shows a settled customer complaint with a damage request of $1,000,000.00 on June 04, 2020.
Claimants maintained investments with the Financial Advisor. The Financial Advisor understood that the claimants did not want to take unnecessary risks with their savings. RBC recommended high risk, concentrated investments in Puerto Rico bonds. Mr. Monahan described the investments as safe income producing vehicles. As a result, the claimants suffered principal losses.