Published on:

Unlicensed Broker Charles Laverty Has Sanctions

Charles LavertyPublic records provided by the Financial Industry Regulatory Authority (FINRA) on June 21, 2016 indicate that former California-based TCFG Wealth Management broker Charles Laverty is currently not licensed to act as a broker or an investment adviser. The securities and investment fraud law firm Fitapelli Kurta is interested in hearing from customers who have complaints regarding Mr. Laverty (CRD# 4875386).

Charles Laverty has spent 10 years in the securities industry and was most recently registered with TCFG Wealth Management in Newport Beach, California (2015). Previous registrations include Calton & Associates in Palm Desert, California; Oppenheimer & Company in Newport Beach, California; UBS Financial Services in Indian Wells, California; Oppenheimer & Company in Newport Beach, California; Morgan Stanley & Company in Irvine, California; and Citigroup Global Markets in Newport Beach, California. He is currently not registered with any state or firm.

According to his BrokerCheck report, Charles Laverty has received one customer complaint, two pending customer complaints, one regulatory sanction, and one pending regulatory sanction.

In May 2016, a customer alleged Charles Laverty, while employed at Oppenheimer & Company, borrowed $220,000 from them and participated in an unsuitable investment strategy. The customer is seeking $1,500,000 in damages in the pending complaint.

In March 2016, Charles Laverty was “permitted to resign” from his position at TCFG Wealth Management following allegations that he “violated the firm’s policies by failing to disclose litigation.”

In December 2015, FINRA sanctioned Charles Laverty following allegations he “borrowed a total of $1,205,000 from two married couples who were his customers, and… accepted two other loans, totaling $32,500, from a separate customer, when both of his associated member firms written policies prohibited such customer loans by their registered representatives.” According to FINRA’s complaint, Mr. Laverty did provide notification to or receive approval from his member firms, Oppenheimer & Company and UBS Financial Services, and has only repaid one of the loans. He was issued an 18-month suspension and a fine of $5,000.

In December 2015, the State of California named Charles Laverty in a complaint “as a result of FINRA’s suspension.” The action remains pending.

In 2014, a customer alleged Charles Laverty, while employed at UBS Financial Services, encouraged an unsuitable investment strategy and purchased unsuitable investments on margin. The customer is seeking $1,500,000 in damages in the pending complaint.

In 2008, a customer alleged Charles Laverty, while employed at Morgan Stanley & Company, failed to follow instructions. The complaint settled for more than $15,400.

If you have complaints regarding Charles Laverty, you may be able to recover lost funds. Call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. All cases are taken on contingency: Fitapelli Kurta only gets paid if and when you recover money. You may have a limited window to file your claim, so we recommend you avoid delay. Call 877-238-4175 now to speak to an attorney for free.