Chad Edward Allen of New York, New York, a stockbroker registered with Oppenheimer & Co. Inc., was the subject of a customer initiated investment related FINRA securities arbitration claim that was settled for $50,000.00 in damages based upon allegations that Allen committed fraud, engaged in excessive and unauthorized trading, made unsuitable recommendations, and failed to supervise certain registered representatives in connection with the sale of options when Allen was associated with Oppenheimer Co. Inc. Financial Industry Regulatory Authority (FINRA) Arbitration No. 19-02385 (February 23, 2022).
This is not the first time that Allen has been referenced in a customer initiated investment related dispute concerning Allen’s conduct in the securities industry. FINRA Public Disclosure shows that Allen was also referenced in a complaint in which the customer requested damages based upon allegations that Allen engaged in unauthorized trading during the time that he was associated with Merrill Lynch Pierce Fenner Smith Incorporated. That claim was denied by his employer.
Allen has been associated with Oppenheimer Co. Inc. in New York, New York, as a stockbroker and investment advisor representative since August 13, 2015.
