Last Updated: April 2025 – Columbus, OH
Eric Coombs Investigation Summary
Here’s what you need to know about Columbus, OH, stockbroker Eric Coombs:
- Name: Mr. Eric Parker Coombs
- Current Employer: Nationwide Investment Services Corporation; Nationwide Investment Advisors, LLC
- Prior Employers: The Huntington Investment Company, Huntington Financial Advisors, Nationwide Securities, LLC
- Function: Stockbroker / Financial Advisor
- Alias: Eric Coombs
- Primary Location: Columbus, OH
- CRD Number: 2743447
- Sanctioned by Securities Regulators: Yes
- Can Coombs be sued in FINRA Arbitration: Yes
- Employment Separation After Allegations: Yes
If you’ve sustained damages from Mr. Coombs, discuss your case with experienced investment fraud lawyer Bob Rex at (877) 224-3199 for a free consultation.
Did You Lose Money With Eric Coombs As Your Stockbroker?
In December 2023, Eric Coombs voluntarily resigned from The Huntington Investment Company following an internal review into sales practice concerns involving the suitability of his recommendations, Regulation Best Interest (RegBI), Department of Labor fiduciary obligations, and compliance with firm supervisory procedures. This resignation occurred amid regulatory scrutiny into his professional conduct.
On August 9, 2024, following Mr. Coombs’ resignation and subsequent employment at Nationwide Investment Services Corporation, the Maryland Attorney General’s Securities Division initiated regulatory action (Case No. 2024-0244). Maryland granted Mr. Coombs a Conditional Agent Approval, requiring heightened supervision until August 9, 2026, due to concerns arising from the internal review at Huntington.
Allegations of Broker Misconduct Against Eric Coombs
Sales Practice Violations
What are Sales Practice Violations ?
According to FINRA (Financial Industry Regulatory Authority), Sales Practice Violations involve misconduct by financial professionals (brokers, financial advisors) or firms in their interactions with customers, related to the sale of securities or investment products. Sales Practice Violations can lead to enforcement actions, fines, suspensions, or other penalties. Below is an overview of common sales practice violations based on FINRA’s rules and enforcement priorities:
- Suitability Violations (FINRA Rule 2111):
- Example: Recommending high-risk securities to a retiree seeking stable income.
- Unauthorized Trading (FINRA Rule 2010):
- Example: A broker buys or sells securities without discussing with the client.
- Churning (Excessive Trading):
- Engaging in excessive trading in a customer’s account to generate commissions, thereby enriching the broker and the broker-dealer while disregarding the customer’s best interests.
- Misrepresentation or Omission of Material Facts (FINRA Rule 2020):
- Example: Exaggerating potential returns or downplaying risks of a speculative product.
- Fraud and Deceptive Practices (FINRA Rule 2020, Section 10(b) of the Securities Exchange Act):
- Example: Creating fictitious account statements to mislead customers to prevent the customer from realizing his account is losing money or to conceal theft by the broker.
- Private Securities Transactions (Selling Away) (FINRA Rule 3280):
- Example: Promoting unapproved private investments, not authorized by the broker-dealer, to clients.
- Failure to Supervise (FINRA Rule 3110):
- Firms or supervisors failing to adequately oversee brokers’ activities, leading to sales practice violations.
- Customer Fund Misappropriation:
- Misusing or stealing customer funds or securities, such as unauthorized withdrawals or conversions.
- Inadequate Disclosure of Fees and Costs:
- Failing to clearly disclose commissions, markups, or other costs associated with transactions.
Recover Your Investment Losses Now With Rex Securities Law
Firms We Have Pursued for our Clients
If you have suffered investment losses in an account handled by Eric Coombs, 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.