December 2020-Spring, TX
According to publicly available records, former Allstate Financial Services, Inc. financial advisor Charles Don Burchard has been barred from the securities industry.
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 September of 2020, in case # 201906282501, FINRA alleged that Burchard refused to produce information and documents requested by FINRA during the course of its investigation into his termination from his member firm. The findings stated that the firm filed a Form U5 reporting that Burchard was terminated because it’s parent insurance company terminated him in light of allegations that he had engaged in undisclosed outside business activity and had disclosed confidential customer information to an unaffiliated third party. Burchard was permanently barred from FINRA in all capacities.
Burchard was employed with Allstate Financial Services, Inc. from August of 2011 until May of 2019 when he was discharged after termination by parent property and casualty insurance company following allegations that he was engaging in undisclosed outside business activity and disclosure of confidential customer information to unaffiliated third party in violation of firm policies.
If you have losses in an account handled by Charles Burchard, call to learn how you may be able to recover 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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