Stephen Skeffington Eubanks, of Las Vegas, Nevada, a stockbroker with Bright Trading, LLC, was terminated from employment on August 26, 2016, based upon allegations that he failed to provide disclosure to his firm concerning an outside business activity which consisted of his ownership in Eubiquity Capital LLC.
On November 1, 2016, Eubanks was charged by the Massachusetts Securities Division in a Complaint which alleged that Eubanks effected unregistered offerings, engaged in unethical and dishonest behavior, provided investment advice without having been registered, and committed fraud. Docket No. E-2016-0084 (Nov. 1, 2016). The Massachusetts Securities Division alleged that Eubanks’ conduct was violative of Mass. Gen. Laws sh. 110A Sections 301, 204, 201, 102, and 101.
The Enforcement Section alleged that Eubanks, through Eubiquity Capital, engaged in a Ponzi
scheme that took in at least $529,000 from fifteen known investors, in violation of the Act and
Regulations. The Enforcement Section further alleges that Respondents acted as unregistered
investment advisers or investment adviser representatives, and that Respondents effectuated the
offer and sale of unregistered securities, in violation of the Act and Regulations.
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Eubanks has been identified in two customer initiated investment related disputes containing allegations of Eubanks’s misconduct while employed with Oppenheimer & Co. Inc. Particularly, on June 27, 2006, a customer initiated investment related complaint regarding Eubanks’ activities was resolved for $4,512.80 in damages based upon allegations that Eubanks placed equity trades in the customer’s account without authorization.
Subsequently, on February 10, 2009, a customer initiated investment related arbitration claim involving Eubanks’ conduct was settled for $190,000.00 in damages based upon allegations that Eubanks generated unauthorized commissions from the customer resulting from over-the-counter equity transactions.
Guiliano Law Group
Our practice is limited to the representation of investors. We accept representation on a contingent fee basis, meaning there is no cost to you unless we make a recovery for you. There is never any charge for a consultation or an evaluation of your claim. For more information, contact us at (877) SEC-ATTY.
To learn more about FINRA Securities Arbitration, and the legal process, please visit us at securitiesarbitrations.com
