February 2017-Ft. Lauderdale, FL
According to publicly available records Douglas W. Studer , (CRD# 4440047) , a former stockbroker who was last employed by Kovack Securities, disclose that he was permanently barred by FINRA from acting as a broker or otherwise associating with firms that sell securities to the public.
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 2016 , without admitting or denying the allegations, Studer consented to the entry of findings that he refused to appear before FINRA for on the record testimony in relation to an investigation into whether he had violated his employing member firm’s policy by being named in an elderly customer’s estate documents to inherit the customer’s waterfront condominium.
In November 2015, a customer of Studer’s prior employer, National Securities Corporation alleged damages in excess of $5,000 for unauthorized trading in mutual funds. That matter was settled for $60,010.
Public records reveal that Studer filed and was discharged from Chapter 7 Bankruptcy in April 2010.
Prior to Kovack Securities, Studer was employed by National Securities and before that by Prime Capital Services.
If you have questions about an account in an account handled by Douglas W. Studer, 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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