Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) on July 18, 2016 indicate that New York-based National Securities broker Tuan Phan, also known as Peter Phan, has received a pending customer complaint. The securities and investment fraud law firm Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Phan (CRD# 4179988).
Tuan Phan has spent 15 years in the securities industry and has been registered with National Securities Corporation in New York, New York since 2001. Previous registrations include Roan-Meyers Associates in New York, New York (2001) and JW Barclay & Company in Woodbridge, New Jersey (2000-2001). He is a registered broker and investment adviser with 37 US states and territories.
According to his BrokerCheck report, Tuan Phan is the subject of one pending customer complaint and five judgments or liens.
In August 2015, a customer alleged Tuan Phan, while employed at National Securities, breached his fiduciary duty, misrepresented material facts related to an investment, and acted negligently. The customer is seeking $50,000 in damages in the pending complaint.
FINRA rules and federal securities law stipulate that brokers and investment advisers like Tuan Phan must abide by a fiduciary duty requiring them to operate only in their clients’ best interests. For instance, they may only recommend suitable investments that comply with the customer’s age, investment goals, experience, net worth, risk tolerance and other factors. Neither brokers nor firms are permitted to misrepresent or omit material facts related to an investment, as this might cause a customer to invest unsuitably. Brokers and firms who violate applicable rules and regulations may be subject to disciplinary action from FINRA, the Securities and Exchange Commission, or state authorities.
In December 2015, the Internal Revenue Service filed a tax lien totaling $44,024 against Tuan Phan. The lien remains outstanding.
In 2012, the Internal Revenue Service filed a tax lien totaling $11,267 against Tuan Phan. The lien remains outstanding.
In 2011, the Internal Revenue Service filed a tax lien totaling $12,415 against Tuan Phan. The lien remains outstanding.
In 2010, the Internal Revenue Service filed a tax lien totaling $222,630 against Tuan Phan. The lien remains outstanding.
In 2010, the State of New Jersey filed a tax lien totaling $21,188 against Tuan Phan. The lien remains outstanding.
If you have lost money investing with Tuan Phan, also known as Peter Phan, you may be entitled 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. 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.