Publicly available records published by the Financial Industry Regulatory Authority (FINRA) on November 2, 2016 indicate that former New York-based Spartan Capital Securities broker Caeron McClintock, also known as Ron McClintock, has received pending customer disputes. The securities and investment fraud law firm Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. McClintock (CRD# 3206481).
Caeron McClintock has spent seventeen years in the securities industry and was most recently registered with Spartan Capital Securities in New York, New York (2016). Previous registrations include Legend Securities in New York, New York; Rothschild Lieberman in New York, New York; EJ Sterling in New York, New York; Brookstone Securities, which has been expelled by FINRA, in New York, New York; JP Turner & Company in Brooklyn, New York; Fordham Financial Management in New York, New York; Joseph Stevens & Company in New York, New York; Ladenburg Thalmann & Company in New York; and Ladenburg Capital Management in Bethpage, New York. He is currently not registered with any state or firm.
According to his BrokerCheck report, Caeron McClintock has received two pending customer complaints and one tax lien.
In August 2016 a customer alleged Caeron McClintock, while employed at Legend Securities, executed unauthorized trades. The customer is seeking $17,000 in damages in the pending complaint.
In 2015 a customer alleged Caeron McClintock, while employed at EJ Sterling, misrepresented material facts, committed fraud, over-concentrated investments, churned the account, and failed to adhere to his “basic duties and responsibilities when opening, administering and supervising” brokerage accounts. The customer is seeking $65,000 in damages in the pending complaint.
Concentration (or “over-concentration”) refers to a broker’s failure to diversify a customer’s portfolio among a variety of assets. Sometimes a broker believes one asset will outperform others, and focuses the investment in that asset or class. In other cases, a broker might invest primarily in a series of related investments; for instance, municipal bonds in the same region. Since similar classes often perform similarly, if one performs poorly, the others might as well. Brokers who fail to diversify their customers’ investments may be subject to disciplinary action by FINRA or the Securities and Exchange Commission.
If you or someone you know has a complaint regarding Caeron McClintock, call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. You may be eligible to recoup losses. Fitapelli Kurta accepts every case on contingency: we only get 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.