Securities Lawyers Blog
According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker George Howe (Howe), currently associated with Usca Securities LLC, has at least one disclosable event. These events include one customer complaint, alleging that Howe 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 $20,000.00 on October 10, 2023.
Client is a 23-year-old professional baseball player who indicated he had a moderate aggressive risk profile and was seeking capital appreciation. After suffering losses during 2022, he filed a complaint with FINRA alleging unauthorized transactions. However, the account was a discretionary advisory account. Although the investments in the account were consistent with the client’s stated risk profile, looking back at his relationship with the client, Mr. Howe felt there could have been more communication to educate the client about the account and the impact of the market. So, as a measure of goodwill, Mr. Howe agreed to reimburse the client for advisory fees and a portion of his losses.