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Broker Complaints: Calton & Associates (CRD# 20999)

The securities and investment fraud law firm Fitapelli Kurta is interested in hearing from investors who have complaints regarding the Florida-based brokerage and advisory firm Calton & Associates (CRD# 20999).

Formed in Florida in 1987, Calton & Associates is headquartered in Tampa, Florida and registered in 53 US states and territories. Randall Lee Cicatti is Chief Executive Officer; David Scott Cole is Chief Financial Officer and Vice President; Robert Blair Greblunas is Chief Compliance Officer and Vice President.

According to the firm’s BrokerCheck report, Calton & Associates is the subject of seven customer complaints that evolved into arbitration and nine regulatory sanctions.

In 2015 a customer alleged Calton & Associates failed to supervise its representatives and recommended an unsuitable investment. The complaint resulted in an award to the customer of more than $15,000.

In 2009 a customer alleged Calton & Associates breached its fiduciary duty, churned the customer’s account, and misrepresented and omitted material facts related to an investment. The complaint resulted in an award to the customer of more than $607,700.

In 2009 the Florida Office of Financial Regulation sanctioned Calton & Associates following allegations the firm failed to seek and obtain proper approval of seminar advertising and sales literature. Calton & Associates was issued a fine of $5,000.

In 2005 a customer alleged Calton & Associates breached its fiduciary duty, churned the customer’s account, executed unauthorized trades, and recommended unsuitable investments. The complaint resulted in an award to the customer of $76,000.

In 2005 the National Association of Securities Dealers (NASD) sanctioned Calton & Associates following allegations the firm failed to report TRACE-eligible securities within 45 minutes after the transactions were executed. Calton & Associates was censured and issued a fine of $10,000.

In 2003 a customer alleged Calton & Associates breached its fiduciary duty, breached contract, and recommended unsuitable investments in common stock, corporate bonds, and mutual funds. The complaint resulted in an award to the customer of more than $61,500.

In 1996 a customer alleged Calton & Associates misrepresented and omitted material facts related to an investment, failed to supervise its representatives, and acted negligently. The complaint resulted in an award to the customer of more than $118,265.

In 1993 the Florida Division of Securities and Investor Protection sanction Calton & Associates following allegations the firm allowed one of its representatives to conduct securities business prior to obtaining registration in the state. Calton & Associates was issued a fine of $5,000.

If you have lost money investing with Calton & Associates, you may be entitled to recover your losses. Call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. All cases are taken on a contingency basis: Fitapelli Kurta only gets paid if and when you recover money.  Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.