Glenn McDowell Barred by FINRA for Unauthorized Trading
Have you lost money with financial advisor Glenn McDowell of New York, New York? We are investigating allegations made by FINRA, the Financial Industry Regulatory Authority, against Glenn McDowell, also known as Clemond St. Aubyn McDowall. In October 2016, FINRA filed a complaint against McDowell, alleging that he made at least 38 unauthorized transactions in a customer’s account during 2012 while he was registered with National Securities Corporation, a Seattle, Washington based brokerage firm. After Glenn McDowell failed to respond to the complaint, FINRA barred him from the securities industry.
FINRA alleges that Glenn McDowell made several purchases and sales of stocks without his customer’s permission, including Synergy Pharmaceuticals, Zynga Inc., Cardtronics Inc., Ventrus Biosciences, Vringo Inc., Amarin Corp., Fusion-IO, and Facebook. FINRA alleges that McDowell earned about $3,500 in commissions for these transactions. FINRA seeks to punish McDowell and order him to disgorge any ill-gotten gains.
Glenn McDowell was a financial advisor and registered representative of National Securities Corp. from 2001 to February 2013. He worked at a branch office in New York, New York. He was also affiliated with Woodstock Financial Group from May 2013 to October 2015. McDowell has at least three customer complaints on his BrokerCheck report, which also discloses that he was discharged by National Securities Corp. in 2013 because of a customer complaint.
Brokerage firms like National Securities Corp. have a responsibility to adequately supervise all representatives who are registered through their firm. Brokerage firms also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies. When brokerage firms fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers.
Israels & Neuman PLC is a securities and investment fraud law firm with offices in Denver, Colorado and the Seattle area. We represent investors in FINRA arbitration proceedings in all 50 states, including investors in New York in the past. Our attorneys have represented over one thousand investors against many brokerage firms in the past, including National Securities Corp.
Click to view: McDowell, Glenn FINRA Order
Click to view: McDowell, Glenn FINRA Complaint (1)
Click to view: McDowell, Glenn BrokerCheck 10.31.16 (1)
IF YOU LOST MONEY WITH GLENN MCDOWELL OR NATIONAL SECURITIES CORP., PLEASE CONTACT US AT (206) 795-5798 FOR A FREE EVALUATION OF YOUR CASE.
Israels & Neuman, PLC is a private law firm and is not affiliated with any government or law enforcement agency. Any investigation referenced in this blog is independent in nature and is being conducted by our law firm privately, not in conjunction with any government or law enforcement agency. All information contained in this blog should be deemed statements of opinion derived from the author’s review of public records, not statements of fact. This blog is advertising material and does not create an attorney client relationship, nor does it constitute legal advice. Everyone’s situation is different and the question of whether or not you have a claim will vary on a case-by-case basis. In contingent representation, clients may still be liable for costs.