Clement Lancelot Chichester (also known as Clement Ignatius Chichester) of Westlake Village California a stockbroker formerly registered with Western International Securities Inc. is referenced in a customer initiated investment related FINRA securities arbitration claim where the customer requested between $250,000.00 and $500,000.00 in damages supported by accusations that the customer received bad investment advice from Chichester in regards to a non-traded real estate investment trust and a private placement when Chichester was associated with Western International Securities. Financial Industry Regulatory Authority (FINRA) Arbitration No. 20-00806 (Mar. 19, 2020).
Chichester has been identified in two additional customer initiated investment related disputes concerning allegations of his misconduct while registered with WM Financial Services Inc. and Western International Securities. FINRA Public Disclosure reveals that a customer filed an investment related complaint involving Chichester’s activities in which the customer sought $7,502.68 in damages based upon accusations that the customer was not provided with important information regarding a variable annuity purchased through Chichester when he was registered with WM Financial Services.
Chichester is also the subject of a customer initiated investment related FINRA securities arbitration claim which was resolved for $100,000.00 in damages founded on allegations that misrepresentations and omissions had been made by the stockbroker concerning limited partnership interests and direct participation programs. FINRA Arbitration No. 18-00745 (Aug. 28, 2018). According to the claim, the customer was provided with poor investment advice by Chichester at Western International Securities. The claim also alleges a breach of fiduciary duty by Chichester in reference to alternative investment purchases.
Chichester has been barred from associating with any FINRA member in any capacity supported by findings that he hindered a FINRA investigation into accusations of his misconduct. Letter of Acceptance Waiver and Consent No. 2017053136101 (Oct. 5, 2017). According to the AWC, Chichester was instructed by the regulator to provide information and documents that related to his activities with a customer of Western International Securities. Chichester failed to fully cooperate with this request. He violated FINRA Rules 2010 and 8210 for this reason.
Chichester was registered with Western International Securities between February 16, 2012 and October 5, 2017.
