Last Updated: January 2024 (Garden City, NY)
Arthur McQuaide Investigation Summary
Here’s what you need to know about Garden City, NY, stockbroker Arthur McQuaide:
- Name: Mr. Arthur Bruce McQuaide
- Current Employer: FINRA has suspended this individual from acting as a broker.
- Previous Firms: Spartan Capital Securities, Southeast Investments, Caldwell International Securities
- Function: Stock Broker/ Financial Advisor
- Aliases: Arthur McQuaide
- Primary Location: Garden City, NY
- CRD 4581876
- Can Arthur McQuaide be sued in FINRA arbitration: Yes
- Sanctioned by FINRA: Yes
- Highest Settlement or Award: $5,000
Discuss your case with experienced investment fraud lawyer Bob Rex at (877) 224-3199 for a free consultation.
Did You Lose Money With Arthur McQuaide As Your Stockbroker?
In 12/2023 FINRA suspended Arthur McQuaide for six months, beginning 12/18/2023 after finding that he engaged in excessive and quantitatively unsuitable trading in the accounts of two senior citizens. FINRA found that the customers routinely relied on and followed McQuaide’s advice and recommendations and that McQuaide exercised de facto control over their accounts. The customer’s accounts lost $190,839 while paying trading costs of $201,684.
McQuaide discloses settlement of a small customer dispute ($5,000) in 2022.
Firms Have a Duty to Supervise their Financial Advisors (FINRA Rules 3110 & 2090)
Allegations of Broker Misconduct Against Arthur McQuaide
Securities regulators have alleged the following wrongdoing by Arthur McQuaide in connection with the handling of customer accounts:
The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.
Recover Your Investment Losses Now With Rex Securities Law
If you have suffered investment losses in an account handled by Arthur McQuaide, contact us for a complimentary consultation with an experienced securities lawyer to learn how you may be able to recover damages through FINRA arbitration.
With offices in Boca Raton, FL and Austin, TX, stockbroker fraud attorney Bob Rex provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers, financial advisors and broker dealers.
If you have questions about how your account has been handled, call (877) 224-3199 to speak with an experienced securities attorney at no cost to you.
Most cases are handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
