Last Updated: November 2023 (Scottsdale, AZ)
Timothy Scanlon Investigation Summary
Here’s what you need to know about Scottsdale, AZ, stockbroker Timothy Scanlon:
- Name: Mr. Timothy Joseph Scanlon
- Current Employer: Independent Financial Group
- Previous Firms: Arque Capital, Fox & Company Investments, Merrill Lynch Pierce Fenner and Smith
- Function: Stock Broker/ Financial Advisor/Registered Investment Advisor
- Aliases: Timothy Scanlon
- Primary Location: Scottsdale, AZ
- CRD 1968597
- Can Timothy Scanlon be sued in FINRA arbitration: Yes
- Terminated by a prior employer: Yes
- Sanctioned by FINRA/NASD: Yes
- Highest Settlement or Award: $230,208
Discuss your case with experienced investment fraud lawyer Bob Rex at (877) 224-3199 for a free consultation.
Did You Lose Money With Timothy Scanlon As Your Stockbroker?
In 2023 4 FINRA arbitrations, brought by customers of Arque Capital were settled for a total amount in excess of $320,000. The cases were brought to recover losses on GWG products and other alternative investments.
Early in his career, in 1995, Timothy Scanlon was sanctioned by the NASD (predecessor to FINRA) for exercising discretion (unauthorized trading) in a customer account.
Three customers filed complaints alleging unauthorized trading while Scanlon was employed by Merrill Lynch in the mid 1990’s. Those cases were settled for a total in excess of $200,000.
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. For more investigations involving Alternative Investments, see this.
How to recover losses on GWG Bonds
Allegations of Broker Misconduct Against Timothy Scanlon
Customers of Timothy Scanlon have alleged the following wrongdoing in connection with the handling of customer accounts:
- Unsuitable Investment Recommendation
- Violations of federal securities laws
- Violations of Securities Act of Arizona
- Violations of Arizona Consumer Fraud Act
- Fraudulent Business Practices
- Gross Negligence
- Failure to Conduct Due Diligence
- Unauthorized Trading
What is Excessive Trading (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
See this for information on other investigations of Arque Capital brokers
If you have suffered investment losses in an account handled by Timothy Scanlon, 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.
