UPDATE APRIL 2018-Donald Fowler charged with excessive trading and other securities violations by US Securities and Exchange Commission. See this for details.
UPDATE August 2016–Fowler discloses regulatory investigation. On July 15, 2016, Fowler’s FINRA records disclose that he has received a Wells Notice from the US Securities and Exchange Commission who has made a preliminary decision to bring an action alleging violation of Section 17(a), 10(b) and Rule 10(b) 5.
A Wells Notice is a letter that the U.S. Securities & Exchange Commission (SEC) sends to people or firms when it is planning to bring an enforcement actions against them. The notice indicates that the SEC staff has determined it may bring a civil action against a person or firm, and provides the person or firm the opportunity to provide information as to why the enforcement action should not be brought.
July 2016-Rockville Centre , New York
The FINRA records of Donald J. Fowler , a stock broker who is currently employed by Worden Capital Management, disclose 9 prior finalized customer disputes and 2 pending customer disputes.
The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.
The prior finalized customer disputes include:
- A complaint brought in 1/2015 in which a customer of J.D. Nicholas & Associates alleged damages of $150,000 for unsuitable trading in highly speculative and risky investments that were wholly unsuitable to his investment objectives and risk tolerance. That case was settled for $50,000.
- FINRA Case 14-03697 in which a customer of J.D. Nicholas & Associates alleged damages of $344,948 for churning, negligence, unsuitability, overconcentration and failure to supervise. That case was settled for $350,000.
- A complaint brought in 8/2011 in which a customer of A&F Financial Services (now known as J.D. Nicholas & Associates) alleged damages of $487,285 for unsuitability and improper use of margin. The case was settled for $178,500.
The pending customer cases include:
- FINRA Case 16-1503 in which a customer of Worden Capital Management alleges damages of $812,000 for churning, excessive trading, failure to supervise fraud, breach of fiduciary duty and violation of the securities laws.
Donald J. Fowler has been employed by Worden Capital Managment since 11/2014..Prior to that he was employed by J.D. Nicholas & Associates from 1/2007-11/2014.
If you have losses in an account handled by Donald J. Fowler call to learn how you may be entitled to collect damages through FINRA arbitration.
Rex Securities Law , with offices in Boca Raton, FL, and Austin, TX, provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.
Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
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