September 2016-Tampa, Florida
The FINRA records of Athanasios Tomaras, a stockbroker who currently is employed by R. F. Lafferty & Co. disclose a prior regulatory event and 4 prior 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.
In August 2009, while employed by Morgan Stanley, Tomaras was ordered to cease and desist, fined $10,000 and suspended for ten business days by the Florida Office of Financial Regulation.
The Florida securities regulators found that Mr. Tomaras failed to observe high standards of commercial honor and just and equitable principles of trade in violation of section 517.161(1)(h), Florida Statutes and Rule 69W-600.013(2)(h), of the Florida Administrative Code, in connection with receiving referrals from insurance agents and opening new accounts for transferring customers.
In FINRA Case#15-0858 a customer of Fulcrum Securities, Tomaras prior employer, alleged that beginning in late 2013 his account was overly concentrated in the energy sector and that Tomaras failed to execute stop loss orders as instructed by claimant. The claimant alleged damages of $63,874 in losses as a result of failure to execute stop losses in Cline and PWE. Claimant also alleged unsuitable trades. That case was settled in 4/2016 for $25,000.
In FINRA Case#13-01133, a customer of Fulcrum Securities alleged damages of $569,300 arising out of the liquidation of a position that transferred into the firm. The customer alleged breach of fiduciary duty, violation of FINRA Rule 2010, breach of contract, negligence, violation of the FL securities act and control person liability. That case was settled in 10/2014 for $35,000.
Tomaras has been registered with R.F. Lafferty since 10/2015. He was registered with Fulcrum Securities from 3/2012-3/2016. Prior to that he was registered with Morgan Stanley from 4/2007-3/2012.
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.
Florida-561 391 1900