The Law Firm of David Chase is reviewing claims of unsuitable trades and breach of fiduciary duty by former New York based-based Capitol Securities Management INC. (CRD #14169) broker Andrew Bennett Kramer (CRD#1896558) after FINRA bared him permanently.
According to Kramer’s FINRA BrokerCheck report, FINRA suspended Kramer in April of 2017 after he failed to respond to FINRA’s request for documents and information regarding a customer’s compliant. According to Kramer’s BrokerCheck report, he made multiple unsuitable trades and recommendations while managing clients’ accounts.
Kramer was employed by Capitol Securities Management INC from September of 2014 until his FINRA suspension. Previously he was employed by Northeast Securities Management (CRD #25996) from July 2010 to September of 2014.
According to Kramer’s detailed CRD report, he was also a partner in an outside business interest in Lyndhurst Investment Partners at which he spent 30-40 hours per week.
Unauthorized trading occurs when a broker executes a transaction without the permission of the customer in a non-discretionary account. According to FINRA, it is one of the common investor issues along with misrepresentation, cold-calling, and unsuitability.
Unauthorized discretion is a serious form of broker misconduct. A broker’s employing firm is responsible for overseeing the broker to prevent such misconduct.
Among other basic tenets, brokers are required to recommend suitable investments to their customers. This requires that the broker: investigates and conducts due diligence into the investment’s attributes including its benefits, risks, tax consequences, and other relevant factors to form a reasonable basis for the recommendation of the product; and appropriately matches the investment with the customer’s specific investment needs and objectives, such as the customer’s retirement status, long or short-term goals, age, disability, income needs, or any other relevant factors.
FINRA arbitration is a fast, efficient way to recover your lost investment funds due to unauthorized trading. We work on a contingency fee basis, meaning you pay us nothing unless we recover money for you.
If you have invested with Andrew Bennett Kramer and Capitol Securities Management and have experienced in recovering investor losses due to broker and brokerage firm misconduct through FINRA arbitration.
The Law Firm Of David R. Chase represents the interests of investors who have been the victims of investment fraud. If you have questions about your legal rights, please contact David Chase of The Law Firm of David Chase for a free consultation – firstname.lastname@example.org or toll-free (800)-760-0912.