Clifford Ronald Reid of New York, New York, a stockbroker currently registered with Reid Rudiger LLC, is identified in a customer initiated investment related FINRA securities arbitration claim which was settled for $21,000.00 in damages supported by accusations that Reid breached a fiduciary duty to the customer in reference to stock and over-the-counter equities trades during the time that he was employed by Reid Rudiger. Financial Industry Regulatory Authority (FINRA) Arbitration No. 19-02676 (August 2, 2021). According to the claim, Reid made unsuitable and excessive trades. The claim alleges Reid Rudiger’s failure to supervise Reid’s activities.
Reid has been identified in four additional customer initiated investment related disputes regarding allegations of his activities when he was registered with securities broker-dealers, including Nichols Safina Lerner Co. Inc. and Reid Rudiger. FINRA Public Disclosure shows that a customer initiated investment related complaint regarding Reid’s activities was resolved for $20,000.00 in damages based upon accusations of the failure to follow the customer’s instructions, breach of fiduciary duty, and unsuitable advice by Reid at Nichols Safina Lerner.
Reid is also the subject of a customer initiated investment related lawsuit, which was settled for $7,500.00 in damages founded on allegations of breach of fiduciary duty concerning over-the-counter equities transactions when Reid was associated with Nichols Safina Lerner.
Another customer initiated investment related FINRA securities arbitration claim concerning Reid’s conduct was resolved for $120,000.00 in damages supported by accusations of Reid’s failure to execute a stop loss order while Reid was registered with Reid Rudiger. FINRA Arbitration No. 18-04303 (August 14, 2019). The claim alleges that the customer sustained damages on over-the-counter equities holdings.
Reid is also referenced in a customer initiated investment related FINRA securities arbitration claim which was settled for $50,000.00 in damages based upon allegations of negligent supervision, breach of contract, negligence, violation of FINRA rules, and breach of fiduciary duty concerning equity and stock trades when Reid was associated with Reid Rudiger. FINRA Arbitration No. 19-02374 (November 24, 2021).
Reid has been employed by Reid Rudiger since October 6, 1999.
