Ronald Patrick Cameron of Fayetteville Arkansas a stockbroker and investment adviser representative of Raymond James Financial Services has been isnamed in arbitration claim an Order by Arkansas Securities Commissioner where he was fined $8,000.00 based upon findings that he settled a customer complaint away from Raymond James. Case No. S-19-0033 (Apr. 8, 2019).
According to the Order, a customer complained to Cameron regarding his sales practices which resulted in Cameron paying the customer $20,000.00. The stockbroker settled the complaint with the customer outside of the auspices of Raymond James and without its permission. The Order revealed that Cameron had been terminated by Raymond James following the securities broker dealer’s internal review which uncovered Cameron’s activities.
FINRA Public Disclosure confirms that Cameron has been referenced in a customer initiated investment related arbitration claim which was settled for $100,000.00 in damages founded on allegations that due diligence had not been undertaken on alternative investments including master limited partnerships and sector-specific securities sold to the customer during the time that Cameron was associated with Raymond James. FINRA Arbitration No. 18-01501 (Sept. 14, 2018).
According to the claim, important information pertaining to the master limited partnerships had not been disclosed by the stockbroker. The claim also alleges that Cameron’s investment recommendations were not suitable for the customer and that he caused the customer’s account to be overconcentrated in unsuitable investments. Raymond James allegedly failed to supervise Cameron’s activities in the customer’s account.
Cameron’s registration with Raymond James was terminated on December 14, 2018. He was registered with LPL Financial between November 21, 2018 and April 11, 2019. He has been associated with International Assets Advisory LLC as a stockbroker since April 8, 2019 and has been associated with International Assets Management as an investment adviser representative since May 8, 2019.
