Last Updated: September 2023 (Hauppauge, NY)
Terrence Reagan Investigation Summary
Here’s what you need to know about Hauppauge, NY, stockbroker Terrence Reagan:
- Name: Mr. Terrence Reagan
- Current Employer: Not currently registered with FINRA
- Previous Firms: Network 1 Financial Securities, Arive Capital Markets, Laidlaw & Co. , National Securities Corp. , J.P. Turner & Co.
- Function: Former Stock Broker/ Financial Advisor
- Aliases: Terrence Bartlett Reagan, Terrence Reggan
- Primary Location: Hauppauge, NY
- CRD 2672751
- Can Terrence Reagan be sued in FINRA arbitration: Yes
- Sanctioned by Regulators: Pending SEC action
- Highest Settlement: $10,000
- Discharged by a prior employer: Yes
Discuss your case with experienced investment fraud lawyer Bob Rex at (877) 224-3199 for a free consultation.
Did You Lose Money With Terrence Reagan As Your Stockbroker?
In 1/2023 the U.S. Securities & Exchange Commission (SEC) filed a complaint against Terrence Reagan and Nathaniel Clay alleging that from 11/2015-1/2019 recommended unsuitable trading that resulted in losses of over $739,000, more than $690,000 of which was generated by fees and commissions. The SEC alleges that Reagan and Clay violated the antifraud provisions of the federal securities laws because they knew or recklessly disregarded that their recommendations to their customers were unsuitable. This civil matter is currently pending.
In 7/2015 a customer of National Securities Corp. was paid $10,000 to resolve allegations that Terrence Reagan churned their account.
In 12/2015 Terrence Reagan was “permitted to resign” from National Securities Corp.
Allegations of Broker Misconduct Against Terrence Reagan
Customers of Terrence Reagan have alleged the following wrongdoing in connection with the handling of customer accounts:
- Unsuitable Investment Recommendation
- Churning
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
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.
If you have suffered investment losses in an account handled by Terrence Reagan, contact us for a complimentary consultation with an experience 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.
