Last Updated: November 2023 (Orange, CA )
Derek McLean Investigation Summary
Here’s what you need to know about Orange, CA, stockbroker Derel McLean:
- Name: Mr. Derek Guy McLean
- Current Employer: Cetera Advisors
- DBA: Orange Capital Management
- Previous Firms: First Allied Securities, FFP Securities
- Function: Stock Broker/ Financial Advisor/ Registered Investment Advisor
- Aliases: Derek McLean
- Primary Location: Orange, CA
- CRD 1939560
- Can Derek McLean be sued in FINRA arbitration: Yes
- Sanctioned by FINRA: No
- Highest Settlement or Award: $22,500
- Pending Customer Dispute Seeks Damages of Unspecified Amount
Discuss your case with experienced investment fraud lawyer Bob Rex at (877) 224-3199 for a free consultation.
Did You Lose Money With Derek McLean As Your Stockbroker?
Two customers of First Allied have filed complaints. In 2020 a customer was paid $22,500 to resolve allegations that Derek McLean recommended complex investments that were unsuitable. Currently a FINRA arbitration is pending alleging that Derek McLean made unsuitable recommendations and committed financial elder abuse. No damage amount is specified at time in this currently pending matter.
Allegations of Broker Misconduct Against Derek McLean
Customers of Derek McLean have alleged the following wrongdoing in connection with the handling of customer accounts:
- Unsuitable Investment Recommendation
- Financial Elder Abuse
- Failure to Supervise
- Breach of contract
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 Derek McLean, 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.
