Caeron Arlington McClintock of New York New York a stockbroker formerly registered with Spartan Capital Securities LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon accusations that McClintock failed to provide FINRA with information that was requested of him. Case No. 2016051468601 (Nov. 6, 2017). FINRA’s inquiry possibly concerned the allegation of McClintock’s sales practice violations as alleged in customer disputes.
Particularly, FINRA Public Disclosure reveals that McClintock has been identified in three customer initiated investment related disputes pertaining to allegations of his violative conduct while he was employed with E.J. Sterling, LLC, Legend Securities, and Allied Millennial Partners, LLC.
In particular, a customer filed an investment related arbitration claim involving McClintock’s activities where the customer sought $50,000.00 in damages founded on accusations that while McClintock was associated with E.J. Sterling, LLC, misrepresentations had been made concerning investments; the customer had been defrauded; commissions were excessively charged; the customer’s account was churned; unsuitable equities trades were effected; and the firm failed to comply with responsibilities and duties in regard to the establishment, administration and supervision of the customer’s mutual fund and stock transactions. FINRA Arbitration No. 15-03117 (Dec. 30, 2015).
Then, on August 26, 2016, a customer filed an investment related complaint concerning McClintock’s conduct in which the customer requested $17,000.00 in damages supported by allegations that while McClintock was associated with Legend Securities Inc., trades were placed in the customer’s investment account that were not approved by the customer. Moreover, McClintock was subject of a customer initiated investment related arbitration claim where the customer was awarded $30,000.00 in damages based on McClintock being found liable on the customer’s claims of supervisory failures; unsuitable transactions in the customer’s account; churning of the customer’s investment portfolio; violations of Securities Exchange Act of 1934 Sections 10(b) and 20(a); SEC Rule 10b-5; violations of FINRA Rules 2020, 2010, 2111(a), 3110, 2090, and 4330(a); and violation of NYSE Rule 408(a). FINRA Arbitration No. 16-03064 (Sept. 24, 2018).
In the midst of those customer disputes, FINRA launched an inquiry into McClintock presumably concerning his sales practices. McClintock failed to respond to FINRA’s inquiry, causing FINRA to issue McClintock a Notice of Suspension on August 2, 2017 and a Suspension from Association on August 28, 2017. Apparently, by this time, McClintock was warned by FINRA that he could be automatically barred if he did not request by November 5, 2017 that his suspension be lifted. Evidently, McClintock failed to cooperate with FINRA personnel by the deadline imposed, causing FINRA to permanently bar him in all capacities on November 6, 2017.
Since April 14, 1999, McClintock has been associated with nine different broker dealers, eight of which have been expelled by securities regulators for violation of federal securities laws or are otherwise defunct. #cockroach
For example, McClintock was associated with Legend Securities Inc. on and off between June 28, 2012 and March 14, 2016. Legend Securities Inc. was expelled on June 1, 2017 based upon accusations that the firm failed to pay costs or fines totaling $78,879.37 that were assessed by FINRA because of the firm, inter alia, failing to supervise its operations to ensure that it complied with federal securities laws. Letter of Acceptance Waiver and Consent No. 2010022592101.
