Public records provided by the Financial Industry Regulatory Authority (FINRA) and accessed on March 2, 2018 indicate that Florida-based GMS Group broker Malcolm Reader has received resolved or pending customer disputes. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Reader (CRD# 1009953).
Malcolm Reader has spent 35 years in the securities industry and has been registered with The GMS Group in Boca Raton, Florida since 1988. Previous registrations include Moore & Schley Cameron & Company (1985-1988); Moore & Schley Municipals (1985-1988); EF Hutton & Company (1985); Bevill Bresler & Schulman (1983-1985); Hanauer Stern & Company (1982-1983); and JB Hanauer & Company (1982). He has passed three securities industry examinations: Series 63 (Uniform Securities Agent State Law Examination), which he obtained on April 21, 1982; Series 7 (General Securities Representative Examination), which he obtained on June 19, 1982; and Series 52 (Municipal Securities Representative Examination), which he obtained on September 19, 1981. He is a registered broker and investment adviser with 23 US states and territories: Arizona, California, Colorado, Connecticut, Florida, Georgia, Illinois, Kentucky, Maryland, Massachusetts, Michigan, Missouri, New Jersey, New York, North Carolina, Pennsylvania, Ohio, South Carolina, Texas, Virginia, Washington, and Wisconsin.
According to his BrokerCheck report, he has received three customer complaints and one pending customer complaint.
In November 2017 a customer alleged Malcolm Reader, while employed at The GMS Group, misrepresented material facts and recommended unsuitable Puerto Rico bonds and Virgin Island bonds from 2012 through 2013. The customer is seeking $400,000 in damages in the pending complaint.
In 2015 a customer alleged Malcolm Reader, while employed at The GMS Group, violated MSRB and FINRA Rules, including FINRA Rules 2111, 2010, and 2020 in connection to alleged unsuitable municipal bond purchases. The complaint resulted in an award to the customer of more than $19,000.
In 2004 a customer alleged Malcolm Reader, while employed at The GMS Group, failed to disclose the risks associated with certain fixed income investments purchased in 1999. The complaint settled in $25,000.
In 1989 a customer alleged he, while employed at Moore & Schley Municipals, misrepresented material facts, breached his fiduciary duty, and acted negligently in connection to certain municipal bond transactions. The complaint settled for $12,500.
If you or someone you know has lost money investing with Malcolm Reader, call Fitapelli Kurta at 877-238-4175 for a free consultation. You may be eligible to recoup your losses. Fitapelli Kurta accepts all cases on a contingency basis: we only get paid if and when you collect 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.