Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) on November 16, 2016 indicate that former Utah-based Hornor Townsend & Kent broker Clay Erickson, also known as Clay Elder, is currently not affiliated with any broker-dealer firm. The securities and investment fraud law firm Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Erickson (CRD# 1583644).
Clay Erickson has spent 25 years in the securities industry and was most recently registered with Hornor Townsend & Kent in Salt Lake City, Utah (2011-2016). Previous registrations include Equity Services in Salt Lake City, Utah; 1717 Capital Management Company in Newark, Delaware; WS Griffith & Company in Hartford, Connecticut; Secura Investments in Appleton, Wisconsin; and Phoenix Equity Planning in Hartford, Connecticut. He is currently not registered with any state or firm.
According to his BrokerCheck report, Clay Erickson has received two customer complaints and one regulatory sanction, and was terminated from Hornor Townsend & Kent.
In October 2016 Clay Erickson was discharged from his position at Hornor Townsend & Kent after he was “suspended by FINRA from association with any member firm for a period of 10 months, and fined $15,000 pursuant to a Letter of Acceptance, Waiver and Consent for failing to disclose or failing to timely disclose 35 judgments and liens totaling almost $319,000 on his Form U4.”
In September 2016 FINRA sanctioned Clay Erickson following allegations that “while registered with different FINRA-member firms, he willfully failed to disclose or failed to timely disclose on his Form U4 judgments and liens totaling almost $319,000, including civil judgments, federal tax liens, state tax liens, and state child support judgments.” He was issued a ten-month suspension and a fine of $15,000.
In 2015 a customer alleged Clay Erickson, while employed at Hornor Townsend & Kent, misrepresented material facts related to a variable annuity policy that was never delivered. The complaint settled for more than $15,800.
In 2009 a customer alleged Clay Erickson, while employed at Equity Services, misrepresented material facts and recommended unsuitable investments. The complaint settled for $35,000.
If you have lost money investing with Clay Erickson, call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 without delay. You may be entitled to recoup your losses. We accept all cases on contingency: Fitapelli Kurta only gets paid if and when you collect money. Time to file your claim may be limited, so we recommend you avoid delay. Call 877-238-4175 now to speak to an attorney for free.