January 2020-San Marino, CA
According to publicly available records of Robert Russel Tweed (CRD#2339324) , a former stockbroker who last worked for Cabot Lodge Securities, discloses 1 regulatory event, a pending civil event, 3 pending customer disputes, 10 prior 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 1/10/2020 FINRA permanently barred Tweed from the securities industry to resolve allegations that he negligently made false and misleading statements to customer to induce them to invest in his hedge fund. According to the FINRA complaint he raised $1.6 million from his customers using a false and misleading private placement memorandum. This case is presently on appeal.
In 10/2017, The Securities and Exchange Commission filed case no. 2:17-cv-7251 alleging “fraud charges against his company , Tweed Financial Services, alleging that investors were misled.
Tweed’s official FINRA record discloses 2 prior awards to customers of one of Tweed’s prior employers, United Securities Alliance and Capwest Securities . Allegations included unsuitable investments, breach of contract, fraud, breach of fiduciary duty, fraudulent concealment, omission, negligent concealment, elder abuse, violation of state and federal securities laws and violations of FINRA rules. The awards in these cases totaled nearly $500,000.
Tweed’s official FINRA record also discloses 3 settled customer disputes with another one of Tweed’s prior employers, National Planning Corporation and Capwest Securities, Inc. Allegations included breach of fiduciary duty, misrepresentations and omissions, failure to supervise, unfair and deceptive trade practices, violations of state and federal securities laws and elder abuse. negligence of financial advisor and rescission of contract due to fraud or mistake. The total settlements in these three cases was nearly $200,000.
In 7/19, a Concorde Investment Services customer filed FINRA case 19-01899 alleging misrepresentation and suitability and is seeking $1.4 million in damages. This case is pending.
In another pending case a customer of Concorde Investment Services is seeking $75,000 and alleges that Tweed misrepresented the risks associated with an investment in Vertical US Recovery Fund II.
Tweed was employed by Cabot Lodge Securities from 10/15 until 12/19. Prior to that time he was with Concorde Investment Services, Capwest Securities, MAM Securities, United Securities Alliance and National Planning Corporation.
If you had an account with Robert Russel Tweed that suffered losses, you may be entitled to collect damages from his prior employer. Call to discuss your 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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