Last Updated: January 2024 (Columbus, Ohio)
Thomas Bates Investigation Summary
Here’s what you need to know about Columbus, OH, stockbroker Thomas Bates:
- Name: Mr. Thomas Ray Bates
- Current Employer: Cambridge Investment Research
- DBA: CIRA, Thomas R. Bates CFP
- Previous Firms: Woodbury Financial Services, AXA Advisors
- Function: Stock Broker/ Financial Advisor/ Registered Investment Advisor
- Aliases: Thomas Bates
- Primary Location: Columbus, OH
- CRD 1037294
- Can Thomas Bates be sued in FINRA arbitration: Yes
- Sanctioned by FINRA: No
- Pending Customer Dispute Seeks Damages of $500,000
Discuss your case with experienced investment fraud lawyer Bob Rex at (877) 224-3199 for a free consultation.
Did You Lose Money With Thomas Bates As Your Stockbroker?
In 10/2023 a customer of Cambridge Investment Research filed a FINRA arbitration alleging that Thomas Bates misrepresented an unsuitable investment in a real estate security. Damages of $500,000 are sought in this currently pending matter.
Allegations of Broker Misconduct Against Thomas Bates
A customer of Thomas Bates has alleged the following wrongdoing in connection with the handling of customer accounts:
- Unsuitable Investment Recommendation to invest in real estate security
- Misrepresentation
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. FINRA Rule 2111- suitability
Alternative Investments: These are assets that are not stocks, bonds or cash. Alternative investments generally fall within five categories: hedge funds, private capital, natural resources (oil and gas, energy), real estate (REITs) and infrastructure. They are typically less liquid that conventional investments, less regulated with higher fees and generally higher risk.
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 Thomas Bates, 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.
