Articles Tagged with Fifth Third Securities

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Fifth Third Securities

Public records provided by the Financial Industry Regulatory Authority (FINRA) and accessed on May 10, 2018 indicate that Ohio-based brokerage and advisory firm Fifth Third Securities was recently sanctioned by FINRA in connection to alleged rule violations. Fitapelli Kurta is interested in hearing from investors who have complaints regarding Fifth Third Securities (CRD# 628).

Founded in Ohio in 1925, Fifth Third Securities is headquartered in Cincinnati, Ohio and registered wth 52 US states and territories. According to the firm’s BrokerCheck report, it has received 36 regulatory sanctions and 19 customer complaints that evolved into arbitration.

In May 2018 FINRA sanctioned Fifth Third Securities in connection to allegations it failed to “appropriately consider and accurately describe the costs and benefits of variable annuity (VA) exchanges,” as well as for recommending variable annuity exchanges in the absence of a reasonable basis to believe such transactions were suitable for the customers in question. Fifth Third Securities failed to ensure that its representatives obtained and evaluated “accurate information” regarding the exchanges that it recommended to its customers, according to FINRA. The firm also allegedly did not adequately train its representatives and principals in proper methods for conducting a “comparative analysis of the material features” of variable annuity products. As a result, according to FINRA, Fifth Third Securities ultimately made inaccurate statements regarding the transactions’ costs and benefits, presenting them as better for the customer than they actually were.

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Denes ChapoPublicly available records provided by the Financial Industry Regulatory Authority (FINRA) and accessed on August 28, 2017 indicate that Ohio-based Fifth Third Securities broker/adviser Denes Chapo III has received resolved or pending customer complaints. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Chapo (CRD# 2699741).

Denes Chapo III has spent 20 years in the securities industry and has been registered with Fifth Third Securities in Concord and Chardon, Ohio since July 2017. Previous registrations include US Bancorp Investments in Cleveland, Ohio; the Huntington Investment Company in Rocky River, Ohio; Quick & Reilly in New York, New York; Natcity Investments in Cleveland, Ohio; Natcity Insurance Services in Cleveland, Ohio; Prudential Securities in New York, New York; and Merrill Lynch in New York, New York. He has passed three securities industry examinations: Series 65 (Uniform Investment Adviser Law Examination); Series 63 (Uniform Securities Agent State Law Examination); Series 3 (National Commodity Futures Examination); and Series 7 (General Securities Representative Examination). He is a registered broker and investment adviser with 18 US states and territories: Alabama, Arizona, California, Connecticut, Florida, Georgia, Indiana, Kentucky, Maryland, Michigan, Nevada, New Mexico, New York, Ohio, Pennsylvania, South Carolina, Tennessee and Virginia.

According to his BrokerCheck report, he has received one customer complaint and one pending customer complaint.