Bryant Caveness Investigation
November 2021-Kingsport, TN
According to publicly available records, Bryant E. Caveness, a former broker who was last employed by Ameriprise Financial Services, discloses a recent regulatory matter, 3 settled customer disputes and a termination from employment.
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 7/2020 Caveness consented to the entry of sanctions and findings that he refused to cooperate with a FINRA investigation in into his potential receipt of checks from senior customers. He was permanently barred from the industry by FINRA in all capacities.
The following customer disputes brought by former customers of Caveness were settled:
- FINRA Case 20-3825- A customer of Ameriprise was paid $150,000 to resolve allegations that Caveness placed they in unsuitable investments in precious metals and mining stocks and leveraged exchange traded funds (ETFs).
- In 7/2010 a customer of Ameriprise was paid $85,000 to resolve allegations that Caveness made unauthorized trades in leveraged ETFs and other investments.
- In 4/2002 a customer of his prior employer, Morgan Stanley was paid $37,500 to resolve allegations that Caveness made unsuitable recommendations.
Caveness worked for Ameriprise from 2003 until 6/2020 when he was discharged. Ameriprise makes the following allegations on his FINRA record: “The registered representative was terminated for company policy violations related to personal trade, ethics and solicitation of exchange traded products.”
If you have losses in an account handled by Bryant E. Caveness, 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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