Category Archives: Worden Capital Management

Douglas E. Duncan-Former National Securities Corp. Broker- Discloses Customer Dispute-Westbury, NY

May 2017-Westbury, New York

The FINRA records of  Douglas E. Duncan ,  a  stockbroker who is currently  registered with PHX Financial  and Scottrade, Inc.  disclose a pending customer dispute.

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 pending FINRA arbitration 16-0735, a customer of Duncan’s prior employer, National Securities Corp. alleges damages of $500,000 for breach of fiduciary duty, negligent misrepresentation and negligence.

Douglas E. Duncan has been employed by PHX Financial since 5/2017 and Scottrade since 3/2016. His previous employments include Worden Capital Management 6/2015-3/2016, Four Points Capital Partners 4/2015-6/2015 and National Securities Corp. 9/2014-3/2015.

If you have questions about an account  handled by Douglas E. Duncan  , contact us 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.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Worden Capital Brokers Gregory Dean and Donald Fowler Named in SEC Complaint

MAY 2018 UPDATESee this for update on pending customer disputes. 

ORIGINAL POST –January 2017-Syosset, NY

The U.S. Securities and Exchange Commission filed a complaint against two former J.D. Nicholas brokers alleging that they failed to perform adequate due diligence relating to the risks and rewards of frequent trading strategy in 27 customer accounts which earned over $800,000 in commissions. SEC v. Gregory T. Dean and Donald J. Fowler, Case 1:17-cv-00139. 

According to the Complaint, both Dean and Fowler have disciplinary histories. Nine of Dean’s customers filed FINRA arbitrations or complaints against him. Ten of Fowler’s customers filed arbitrations or complaints against him.

J.D. Nicholas (formerly A&F Financial Services) was incorporated in Florida in 1997 and maintained its offices in Syosset, NY.

Dean and Fowler are currently registered with Worden Capital Management. 

If you have questions about your account and the way it has been handled, call to discuss your options with an experienced securities attorney.

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.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Joseph O. Clemente, Jr. -Former J.D. Nicholas Broker-Discloses Customer Complaints

July 2016-Garden City, New York

The FINRA records of Joseph O. Clemente, Jr. ,  a  currently unlicensed stock broker who was last employed  by Worden Capital Management , disclose a pending customer dispute and a  prior finalized customer dispute, one of which alleges account churning.

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 FINRA Case# 13-01317 a customer of J.D. Nicholas & Assoc. alleged damages of $37,737  for losses related to the purchase of Celsion Corporation in January 2013. The case was settled for $7,500.

In  pending FINRA Case 14-03697 brought by a customer of J.D. Nicholas & Assoc. the customer alleges damages of $57,130 for churning, negligence, unsuitability, overconcentration and failure to supervise.

Joseph O. Clemente, Jr.  was employed by Worden Capital Managment from  11/2014-12/2015. Prior to that he was employed by J.D. Nicholas & Associates from 12/2011-11/2014.

If you have losses in an account handled by Joseph O. Clemente, Jr.   call to learn how you may be entitled to collect 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.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870