Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) on November 3, 2016 indicate that former Pennsylvania-based First Allied Securities broker Theodore Rothman is currently not affiliated with any broker-dealer firm. The securities and investment fraud law firm Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Rothman (CRD# 405741).
Theodore Rothman has spent 45 years in the securities and was most recently registered with First Allied Securities in Southampton, Pennsylvania (2015-2016). Previous registrations include First Allied Securities in Southampton, Pennsylvania (2013-2014); Rothman Securities in Southampton, Pennsylvania (1983-2013); Zenith American Securities Corporation (1973-1984); and American Diversified Investors (1970-1973). He is currently not registered with any state or firm.
According to his BrokerCheck report, Theodore Rothman has received four customer complaints, one pending customer complaint, and three regulatory sanctions.
In August 2016 FINRA suspended him following allegations he “failed to respond to FINRA request for information.”
In May 2016 Theodore Rothman was terminated from his position at First Allied Securities following allegations he failed to disclose an outside business activity.
In 2014 the Securities and Exchange Commission sanctioned Theodore Rothman following allegations he failed to supervise a registered representative at his firm, who was also his son, and who allegedly inflated account statements to investors and misappropriated funds. Mr. Rothman was barred from acting in a supervisory capacity and issued a fine of $40,000.
In 2011 a customer alleged he, while employed at Rothman Securities, failed to supervise a representative who engaged in fraud. The complaint resulted in an award to the customer of $75,000.
In 2007 a customer alleged he, while employed at Rothman Securities, made unsuitable mutual fund recommendations. The complaint settled in 2008 for $47,500.
In 2004 FINRA sanctioned Theodore Rothman following allegations he executed mutual fund purchases without reasonable grounds to believe they were suitable. He was issued a 30-day suspension and a fine of $45,000.
If you have lost money investing with Theodore Rothman, you may be able to recoup lost funds. Call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. Fitapelli Kurta accepts all cases on contingency: we only receive payment 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.