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John Simpson Terminated From RBC Capital

John SimpsonPublicly available records provided by the Financial Industry Regulatory Authority (FINRA) on January 4, 2017 indicate that former Maryland-based RBC Capital Markets broker/adviser John Simpson has been permanently barred from acting as a broker or otherwise associating with firms that sell securities to the public. Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Simpson (CRD# 719367).

John Simpson has spent 35 years in the securities industry and was most recently registered with RBC Capital Markets in Hunt Valley, Maryland (2009-2016). Previous registrations include Ferris Bakers Watts in Baltimore, Maryland (2003-2009); UBS Painewebber in Weehawken, New Jersey (1992-2003); and Painewebber in Weehawken, New Jersey (1980-1982). He is currently not registered with any state or firm.

According to his BrokerCheck report, John Simpson has received one FINRA sanction, four customer complaints and one pending customer complaint, and in 2016 he was terminated from RBC Capital Markets in connection to an alleged “Violation of firm policy regarding use of discretion in client accounts.”

In 2016 a party of customers alleged John Simpson, while employed at RBC Capital Markets, unsuitably concentrated the portfolio in energy and metals sectors. The customers are seeking $11,000,000 in damages in the pending complaint.

In December 2016 FINRA sanctioned John Simpson following allegations he “refused to appear for on-the-record testimony as requested by FINRA in connection with FINRA’s investigation of the conduct that gave rise to Simpson’s termination from his member firm for violation of firm policy regarding use of discretion in client accounts.” He was permanently barred from acting as a broker or otherwise associating with firms that sell securities to the public.

In 2016 a customer alleged John Simpson, while employed at RBC Capital Markets, placed unauthorized trades. The complaint settled for more than $20,200.

In 2016 a customer alleged John Simpson, while employed at RBC Capital Markets, recommended unsuitable and over-concentrated investments. The complaint settled for more than $11,000.

In 2016 a customer alleged John Simpson, while employed at RBC Capital Markets, ignored her requests. The complaint settled for more than $7,000.

If you or someone you know has complaints regarding John Simpson, call Fitapelli Kurta at 877-238-4175 for a free consultation. You may be entitled to recover lost funds. All cases are taken on a contingency basis: we only receive payment if and when you collect money. Time to file your claim may be limited, so we suggest you avoid delay. Call 877-238-4175 now to speak to an attorney for free.