Last Updated: March 2024 (Stamford, CT)
Ronald Smith Investigation Summary
Here’s what you need to know about Stamford, CT, stockbroker Ronald Smith:
- Name: Mr. Ronald G. Smith
- Current Employer: Sanford C. Bernstein
- Previous Firms: Spartan Capital Securities
- Function: Stock Broker/ Financial Advisor
- Aliases: Ron Smith
- Primary Location: Stamford, CT
- CRD 4662702
- Can Ron Smith be sued in FINRA arbitration: Yes
- Sanctioned by FINRA: No
- Pending Customer Dispute Seeks Damages of $250,000
Discuss your case with experienced investment fraud lawyer Bob Rex at (877) 224-3199 for a free consultation.
Did You Lose Money With Ronald Smith As Your Stockbroker?
In 2/2024 a customer of Spartan Capital Securities filed a FINRA arbitration alleging that Ron Smith made unauthorized trades and recommended an unsuitable investment in private placements. Damages of $250,000 are sought in this currently pending matter.
[LEARN MORE]: Other Cases Involving Unauthorized Trading
[LEARN MORE]: Firms Have a Duty to Supervise their Financial Advisors (FINRA Rules 3110 & 2090)
Brokers and their firms have a duty to comply with the FINRA suitability rule which requires that they have a reasonable basis to believe that a recommendation is suitable for the customer.
[LEARN MORE]: FINRA Rule 2111- suitability
Allegations of Broker Misconduct Against Ronald Smith
A customer of Ron Smith has alleged the following wrongdoing in connection with the handling of customer accounts:
- Unsuitable Investment Recommendation to purchase a private placement
- Breach of fiduciary duty
- Failure to act in claimant’s best interest
- Unauthorized trading
- Misrepresentation and Omissions of material facts.
Private Placements under Reg D: What is a Private Placement? According to the U.S. Securities and Exchange Commission (SEC):
“Under the federal securities laws, a company may not offer or sell securities unless the offering has been registered with the SEC or an exemption from registration is available. Offerings exempt from the SEC’s registration requirements pursuant to Securities Act Section 4(a)(2) or its safe harbor under Regulation D of the Securities Act are often referred to as private placements.”
The SEC warns that unregistered offerings may be utilized to conduct investment scams and that investors should have the ability to weather a total loss in these illiquid investments. See this SEC Investor Alert about red flags to watch out for in unregistered offerings.
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
[LEARN MORE]: See this for more information on REITs and Other Alternative Investments
If you have suffered investment losses in an account handled by Ron Smith, 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.
