MAY 2018-Houston, Texas
According to publicly available records Noel Ray Vincent, (CRD# 1370987) , a stockbroker who is not currently registered and who last was employed by Madison Avenue Securities , disclose a prior final regulatory matter, 5 pending customer disputes , 9 prior final customer disputes and an outstanding judgement/lien.
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 currently pending arbitrations include:
- FINRA case #18-0701-a customer of Investors Capital Corp and Madison Avenue Securities alleges that the alternative investments, including REITs, recommended were unsuitable and seeks damages of $295,000.
- 17-03104- a customer of Madison Avenue Securities alleges misrepresentation and unsuitable investments and seeks damages of $100,000.
- 17-02194-a customer of Madison Avenue Securities alleges that a REIT purchased in 2013 is unsuitable and seeks damages of $50,000.
- FINRA arbitration 17-0029 a customer of Investors Capital Corp. is seeking damages of $500,000 for misrepresentations, breach of fiduciary duty and other claims related to the purchase of alternative investments during the period 2005-2008.
In FINRA arbitration 17-0818 a customer of Madison Avenue Securities sought damages of $75,000 , alleging that United Development III and UDF IV were sold to him without Vincent performing adequate due diligence and that it was negligently misrepresented. That case was settled in 1/2018 for $19,000.
In FINRA arbitration 15-0037, a customer of one of Vincent’s prior employers, Investors Capital Corp. , sought damages of $413,000 for unsuitable investments in oil & gas investments and real estate securities made between 2006 and 2009. That matter was settled for $125,000.
Vincent discloses an outstanding tax lien in favor of the Internal Revenue Service in the amount of $170,000, filed in Harris County, Houston.
Vincent was been employed by Madison Avenue Securities from 11/2009-4/2018. He was employed by Investors Capital Corp. from 9/2001-11/2009. Vincent discloses a business affiliation with Senior Partners Tax & Accounting Service in Houston.
Investors Capital Corp., a part of the Cetera Group, wound down its operations during 2016, transferring many of its brokers and customers to Summit Brokerage Services. In November 2016, Investors Capital Corp. withdrew its FINRA registration and closed operations.
INVESTORS CAPITAL CORP. SUBJECT OF 21 REGULATORY MATTERS–CEASES OPERATIONS FALL 2016
Investors Capital Corp. withdrew its registration with FINRA in fall 2016. Investors Capital has been named in 21 regulatory matters and a number of customer arbitrations. For more information on Investors Capital Corp, follow this link.
If you have questions about an account in an account handled by Noel Ray Vincent, contact us to discuss your legal options.
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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