Alan Walton Sharpe of Burlington Massachusetts a stockbroker formerly employed by RBC Capital Markets LLC is the subject of a customer initiated investment related arbitration claim which settled for $225,000.00 in damages supported by allegations that (1) Sharpe made unsuitable oil and gas equities recommendations to the customer and (2) Sharpe churned the customer’s investment portfolio. Financial Industry Regulatory Authority (FINRA) Arbitration No. 17-01344 (Oct. 27, 2017).
FINRA Public Disclosure reveals that Sharpe is referenced in five more customer initiated investment related disputes pertaining to accusations of his wrongful conduct while employed with RBC Capital Markets LLC Wells Fargo Advisors, LLC and Morgan Stanley DW Inc. Particularly, on October 31, 2001, a customer filed an investment related complaint regarding Sharpe’s conduct where the customer sought $41,000.00 in damages based upon allegations that Sharpe placed the customer in a Travelers variable annuity without having obtained the customer’s permission, and failed to execute upon the customer’s instructions to sell the customer’s positions in Zoren Corp.
On May 9, 2002, another customer filed an investment related complaint concerning Sharpe’s activities in which the customer requested $500,000.00 in damages founded on accusations that fiduciary duties owed to the customer had been breached in regard to mutual funds and over-the-counter equities purchased in the customer’s account. Subsequently, a customer initiated investment related arbitration claim concerning Sharpe’s conduct was resolved for $215,000.00 in damages supported by allegations that Sharpe made false or misleading statements to the customer in regard to the customer’s investments, and executed unsuitable investments in the customer’s wrap account. FINRA Arbitration No. 09-06070 (Oct. 7, 2010).
On April 5, 2016, another customer filed an investment related complaint involving Sharpe’s conduct where the customer sought $9,086.94 in damages based upon accusations that Sharpe effected unauthorized stock transactions in the customer’s account and placed abnormal purchases and sales of stock. Further, on October 30, 2016, a customer initiated investment related complaint regarding Sharpe’s activities was settled for $8,000.00 in damages founded on allegations that Sharpe failed to obtain the customer’s consent before placing mutual fund trades in the customer’s account, and disregarded the customer’s investment instructions.
Sharpe’s registration with RBC Capital Markets LLC has been terminated as of March 23, 2016. Since March 30, 2016, Sharpe has been registered with Moors & Cabot, Inc.
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