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FINRA Bars Bennett Broad from Industry

Bennett Broad

According to records provided by the Financial Industry Regulatory Authority (FINRA), former Pennsylvania-based Oppenheimer broker Bennett Broad has been permanently barred from acting as a broker or otherwise associating with firms that sell securities to the public. The securities and investment fraud law firm Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Broad (CRD# 702460).

Bennett Broad spent 35 years in the securities industry and was most recently registered with Oppenheimer & Company in Jenkintown, Pennsylvania (2003-2015). Previous registrations include UBS Painewebber in Weehawken, New Jersey (1998-2003); Dean Witter Reynolds in Purchase, New York (1980-1998); and Philips,Appel & Walden (1979-1980). He is currently not registered with any firm or state.

According to his BrokerCheck report, Bennett Broad is the subject of one regulatory sanction, sixteen customer complaints, and six pending customer complaints.

In October 2015 a customer alleged Bennett Broad, while employed at Oppenheimer & Company, made unsuitable investment recommendations in debt, mutual funds, options, and other securities, engaged in unauthorized and excessive trading, and misrepresented material facts. The customer is seeking $1,587,000 in damages in the pending complaint.

In September 2015 a customer alleged Bennett Broad, while employed at Oppenheimer & Company, executed unauthorized and excessive trades, unsuitably recommended certain mutual funds and other securities, improperly used margin, misrepresented and omitted material facts, and failed to follow industry rules. The customer is seeking $600,000 in damages in the pending complaint.

In September 2015 a customer alleged Bennett Broad, while employed at Oppenheimer & Company, made excessive and unauthorized trades, executed unsuitable transactions, misrepresented and omitted material facts, and failed to follow industry regulations. The customer is seeking $125,000 in damages in the pending complaint.

In September 2015 a customer alleged Bennett Broad, while employed at Oppenheimer & Company, misrepresented and omitted material facts related to unsuitable investments, executed unauthorized trades, made excessive transactions, and failed to follow industry rules. The products in question included corporate and government debt, equity listed stocks, and mutual fund investments. The customer is seeking $600,000 in damages in the pending complaint.

In September 2015 a customer alleged Bennett Broad, while employed at Oppenheimer & Company, executed excessive and unsuitable trades, misrepresented and omitted material facts, and failed to follow industry rules and regulations. The customer is seeking $150,000 in damages in the pending complaint.

In May 2015 FINRA sanctioned Bennett Broad following allegations he failed to comply with a request for information. Mr. Broad was issued a permanent bar from associating with any FINRA member firm.

If you have suffered losses as a result of investments made with Bennett Broad, you may be able to collect a recovery. 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: we only receive payment if and when you recover money. You may have a limited window to file your claim, so we suggest you avoid delay. Call 877-238-4175 now to speak to an attorney for free.