Christopher Frederic Veale (also known as Chris Veale) of New York New York a stockbroker formerly registered with Legend Securities Inc. is referenced in a customer initiated investment related arbitration claim where the customer sought $150,000.00 in compensatory and punitive damages supported by accusations that (1) Veale churned the customer’s investment account (2) Veale charged the customer excessive commissions on transactions executed in the customer’s account (3) Veale placed the customer in unsuitable investments including common and preferred stock and over-the-counter equities and (4) Veale utilized high pressure sales tactics in order to induce the customer’s investment purchases. Financial Industry Regulatory Authority (FINRA) Arbitration No. 16-00405 (Mar. 18, 2016).
FINRA Public Disclosure reveals that Veale is referenced in twelve additional customer initiated investment related disputes pertaining to allegations of his violative conduct while Veale was associated with securities broker dealers including S.W. Bach Company and Brookville Capital Partners. For example, Veale was named in a customer initiated investment related arbitration claim in which the customer was awarded $42,054.78 in compensatory damages based upon Veale being found liable by a FINRA Arbitrator on the customer’s claims of negligence; unsuitable trading; unauthorized trading; omissions; breach of fiduciary duty; and fraudulent misrepresentations concerning the terms, conditions or other important information pertaining the exchange traded funds placed in the customer’s investment account while Veale was associated with Brookville Capital Partners. Case No. 15-00373 (May 27, 2016).
FINRA Public Disclosure further confirms that Veale has been suspended from associating with any FINRA member in any capacity according to an Order Accepting Offer of Settlement containing findings that Veale, inter alia, failed to timely comply with FINRA’s investigation into accusations of Veale’s sales practice violations and outside business activities. Department of Enforcement v. Christopher Frederic Veale Disciplinary Proceeding No. 2015044099801 (Aug 18, 2015). FINRA found Veale’s failure to timely comply with requests for his testimony, information and documentation to be violative of FINRA Rules 2010 and 8210.
Veale has been associated with at least eighhteen different securities broker dealers (Stratton Oakmont Inc., H.J. Meyers Co. Inc., D.L. Cromwell investments Inc., IAR Securities Corp., Maximum Financial Investment Group Inc., Franklin Christopher Investment Bankers Inc., Meyers Associates L.P., John Thomas Financial and Legend Securities Inc.) all of which have been expelled by securities regulators for violation of securities laws or who are otherwise defunct. #cockroach
