Charles Louis Laubach (also known as Chuck Laubach) of Timonium Maryland a stockbroker associated with Capital Portfolio Management Inc. has been barred from working as a stockbroker or investment adviser representative and has been stripped of his licenses supported by allegations that the stockbroker neglected to comply with securities laws of the State of Maryland as trades were effected in nine customers’ accounts by the stockbroker on a discretionary basis without the stockbroker obtaining written permission from the customers or Capital Portfolio Management. Maryland Division of Securities Consent Order No. 2019-0169 (Nov. 8, 2019).
This is not the first time that Laubach has been the subject of a regulatory action based upon accusations of the stockbroker’s misconduct in the securities industry. Particularly, Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Laubach has been fined $5,000.00 and suspended from associating with any FINRA member in any capacity based upon findings that when Laubach was associated with Capital Portfolio Management, the stockbroker violated FINRA Rule 2010 and NASD Rule 2510(b) by effecting trades on a discretionary basis without obtaining written permission from the customer or the securities broker dealer. Letter of Acceptance Waiver and Consent No. 2018057298401 (June 20, 2019). Also, FINRA revoked Laubach’s licenses based upon allegations that the stockbroker neglected to pay a fine which was assessed for his violations of FINRA rules. FINRA Case No. 2018057298401 (Sept. 16, 2019).
FINRA Public Disclosure reveals that Laubach is referenced in a customer initiated investment related civil action where the customer sought unspecified damages founded on accusations that over-the-counter equities dividends were not properly credited to the customer when Laubach was employed by Chapin Davis. Civil Action No. 24-c-16-006897 (Mar. 7, 2017).
Prior securities broker dealer employer Chapin Davis discharged Laubach on March 18, 2016 supported by allegations that the stockbroker mismarked trade tickets to make it seem as though the transactions he facilitated were not solicited to customers of the securities broker dealer. Capital Portfolio Management discharged Laubach on August 19, 2019 based upon accusations that the stockbroker failed to comply with a heightened supervision plan implemented by the securities broker dealer as trades were effected on a discretionary basis contrary to Capital Portfolio Management policy.
