RedFlag, Allegation and/or Complaint against JACKY WILLIAM SMITH
Disclosure #1 for JACKY SMITH
- Event Date: 7/27/1994
- Disclosure Type: Customer Dispute
- Disclosure Resolution: Settled
- Disclosure Detail :: Allegations: MISREPRESENTATION; ACCOUNT RELATED-BREACH OF CONTRACT; ACCOUNT RELATED NEGLIGENCE; BREACH OF FIDUCIARY DUTY
- Damage Amount Requested: $182,805.93
- Settlement Amount: $30,000.00
- Arbitration Claim File Detail: 94-02833
- Arbitration Docket Number:
- Broker Comment: ACTUAL/COMPENSATORY DAMAGES, RELIEF REQUEST IS WITHDRAWN. ACCOUNT WAS INITIALLY HANDLED BY I.E. [OTHER FIRM EMPLOYEE, [OTHER FIRM EMPLOYEE LEFT STIFEL BUT CONTINUED TO PLACE ORDERS FOR THE ACCOUNT THROUGH I.E. JACK SMITH, WHO BELIEVED THAT WRITTEN AUTHORIZATION WAS ON FILE. AFTER [OTHER FIRM EMPLOYEE PLEAD GUILTY TO WIRE FRAUD. CUSTOMER CLAIMED THAT TRADING IN HIS ACCOUNT WAS UNAUTHORIZED. CLAIM BELIEVED TO BE WITHOUT MERIT AND COLLUSIVE AS BETWEEN CUSTOMER AND [OTHER FIRM EMPLOYEE; SETTLED FOR A SMALL FRACTION OF AMOUNT CLAIMED TO AVOID EXPENSE OF ARBITRATION. STIFEL PAID $25,000.00 AND SMITH PAID $5,000.00.
Should I file a FINRA complaint against brokers like JACKY WILLIAM SMITH?
Many investors (presumably, like yourself) are unaware of the legal recourse available to them after losing money due to securities broker fraud and/or negligence. The truth is that investors who lost money in this fashion may actually be entitled to damages. You may suffer significant losses at the hands of your financial advisors’ misconduct, such as if they misrepresented or failed to disclose the risks associated with a particular investment, recommended frequent trades for the sole purpose of generating commissions, or used high-pressure tactics to make a sale. The rules and regulations of securities laws and FINRA policies are complex, and investment loss claims require an extensive understanding of securities arbitration to achieve the best possible results.
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