The Law Firm of David Chase is reviewing allegations concerning Melville, New Jersey-based Oppenheimer & Co broker Paul E Colchamiro, which are based on a 2017 complaint seeking in excess of $2 million and alleging violations of suitability, churning and failure to supervise.
Colchamiro has been employed by Oppenheimer & Co. since 1998 at its Melville, New York location.
Unsuitability and churning are serious forms of broker misconduct. A broker’s employing firm is responsible for supervising the broker to prevent such misconduct. Failure to reasonably supervise is a claim that may be made against a brokerage firm in an FINRA customer arbitration.
Stockbrokers are required to recommend only suitable investments to their customers. This requires that the broker investigate and conduct due diligence into the investment’s attributes, including its risks, tax consequences, etc. to form a reasonable basis for the recommendation. The financial advisor is also responsible for ensuring that the investment recommendation is consistent with the investor’s investment objectives, risk tolerance, income needs and life stage.
FINRA arbitration is a fast, efficient way to recover your lost investment funds due to churning or unsuitable recommendations. The Law Firm of David Chase works on a contingency fee basis, meaning you pay it nothing unless it recovers money for you.
If you invested with Paul E. Colchamiro and Oppenheimer & Co and have lost money doing so, you may be able to recover some or all of your losses. David Chase is experienced in recovering investor losses due to stockbroker and brokerage firm misconduct and mismanagement through FINRA arbitration.
The Law Firm of David Chase represents defrauded investors around the country. If you have questions about your ability to recover your investment losses, please contact David Chase for a free consultation at david@davidchaselaw.com or toll-free at (800) 760-0912.
