UPDATE SEPTEMBER 2016-FINRA named Glen J. Rauch in a complaint alleging that following his termination from registration(see below) he repeatedly sent abusive, obscene, intimidating and threatening messages to a principal of his former firm. Rauch ceased these actions only after a restraining order was obtained.
The complaint also alleges that Rauch committed an array of sales practice violations that demonstrate dishonesty, evasiveness, and a disregard for FINRA rules causing losses to customers. FINRA alleges that Rauch effected unauthorized trades in customer accounts and failed to timely disclose IRS and State tax liens. FINRA Case #2014039358002.
Original post–July 2016– Orangeburg, NY
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.
The FINRA records of Glen J. Rauch report that a customer of Avenir Financial Group alleged damages of $370,000 for misrepresentation of account balances, failure to follow instructions and properly hedge investment risk.
Rauch discloses two separations from employment after allegations:
- In 2008 Rauch was discharged by National Securities Corporation who alleged that he was termed for contacting client(s) while suspended pending an internal review of client complaints received while Rauch was on heightened supervision.
- In 2004 Rauch discloses that he was discharged by J.P. Turner who alleged suspicion of using discretion in accounts.
Rauch is not currently registered. He was registered with Avenir Financial Group from 8/2013-2/2016. Prior to that he was registered with Rockwell Global Capital and Charles Vista LLC.
Investors suffering losses in an account handled by Glen J. Rauch are encouraged to contact us to discuss your legal options.
Rex Securities Law , with offices in Boca Raton, FL, and Austin, TX, provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.
Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
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