Charles Louis Laubach, of Baltimore, Maryland, a stockbroker formerly registered with Chapin David Investments, has been terminated from employment on March 18, 2016, based upon allegations that he did not follow his firm’s supervisory protocols and mismarked investment transaction tickets.
This is not the first time that Laubach has been terminated by a brokerage firm for alleged misconduct. Previously, Laubach was registered with Ameriprise Financial Services, Inc., and was terminated on February 23, 2015, based upon allegations that he violated the solicitation policy of his firm concerning equities, and mismarked investment transaction tickets.
FINRA Public Disclosure reveals that Laubach has been identified in four customer initiated investment related disputes pertaining to allegations of Laubach’s misconduct while associated with Wells Fargo Advisors, LLC, Morgan Stanley DW Inc., and Smith Barney Inc. Specifically, on July 24, 1992, a customer initiated investment related arbitration claim involving Laubach’s conduct was settled for $22,500.00 in damages based upon allegations that Laubach effected unsuitable investment recommendations and made misrepresentations to the customer concerning account trading.
Subsequently, on July 11, 1994, a customer initiated investment related complaint regarding Laubach’s conduct was resolved for $60,000.00 in damages based upon allegations that Laubach effected unsuitable and unauthorized trades in the customer’s account. On February 8, 2007, another customer initiated investment related arbitration claim involving Laubach’s conduct was settled for $32,500.00 in damages based upon allegations that Laubach, in his capacity as the customer’s financial advisor, misappropriated the customer’s funds, churned the customer’s investment accounts, and made unsuitable investment recommendations concerning equities.
Further, on March 25, 2013, a customer initiated investment related complaint involving Laubach’s conduct was settled for $20,000.00 in damages based upon allegations that Laubach effected trades in the customer’s account without the customer’s authorization.
Since March 29, 2016, Laubach has been registered as a stockbroker with Capital Portfolio Management, Inc.
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