Bobby Kyle Cowand of Austin Texas a stockbroker formerly registered with Cary Street Partners is the subject of a customer initiated investment related complaint which was resolved for $20,000.00 in damages on February 18, 2016 supported by accusations that unsuitable equity transactions were executed in the customer’s account between August of 2014 and February of 2015.
Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that Cowand has been identified in three more customer initiated investment related disputes that pertain to allegations of his wrongdoing while employed with First Financial Investment Securities, Inc. and Riverstone Wealth Management. Specifically, on November 17, 1997, a customer initiated investment related complaint regarding Cowand’s activities was settled for $30,000.00 in damages founded on accusations that a stop loss order was not entered on the customer’s over-the-counter equity holdings.
On April 6, 1999, a customer initiated investment related civil action involving Cowand’s activities was resolved for $225,000.00 in damages founded on allegations that omissions had been made concerning the customer’s over-the-counter equity holdings. Then, on June 13, 2006, a customer filed an investment related complaint concerning Cowand’s activities where the customer sought $24,466.00 in damages supported by accusations that stock transactions were placed in the customer’s account that were not suitable for the customer.
Cowand has also been terminated from his previous brokerage firm employer, Dickenson & Co., founded on allegations that trades were executed in customer accounts without authorization. He was terminated from Cary Street Partners on March 1, 2018. Since February 18, 1993, Cowand has been associated with six different broker dealers, two of which have been expelled by securities regulators for violation of federal securities laws or are otherwise defunct.
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