October 2018- Royal Palm Beach, FL
Publicly available records disclose that Charles Lewis Bloom, a former stockbroker who was previously employed by Chelsea Financial Services, discloses 3 regulatory events and a currently pending customer dispute, a prior customer dispute 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 July of 2018, without admitting or denying the findings, Bloom consented to the sanction and to the entry of findings that he refused to appear for testimony as requested by FINRA in connection with an investigation into allegations that Bloom engaged in an unsuitable pattern of trading in at least three customer accounts. As a result Bloom was permanently barred from the securities industry by FINRA.
A customer of one of his prior employer’s, International Assets Advisory, has filed FINRA case #18-00771 alleging unsuitable investment recommendations and misrepresentations with regard to an investment in a REIT (real estate investment trust). The alleged damages are $99,326.84.
Bloom was employed with Chelsea Financial Services from January 2016 until July of 2018. From January 2015 until December 2015 he was with International Assets Advisory. Before that he was employed with IAA Financial and U.S. Brokerage. In 2006 voluntarily resigned from 1st Discount Brokerage following allegations that he exercised unauthorized day trading in a customer account.
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