Craig Dean Blattner of Longwood Florida is a stockbroker formerly registered with Investors Capital Corp who has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity by consenting to findings that he settled an Investors Capital Corp customer’s complaint away from the firm. Letter of Acceptance Waiver and Consent No. 2017053438501 (Mar. 20, 2018).
According to the AWC, in July of 2010, during the time that Blattner was registered with Investors Capital Corp, he was the assigned registered representative for the joint account owned by customers KM and HM. Apparently, the joint account dropped in value by $75,000.00 between July of 2010 and April of 2013, prompting HM to complain to Blattner in April of 2013 about Blattner’s apparent mismanagement of HM’s and KM’s account and the investment losses that KM and HM sustained as a result.
The AWC stated that HM’s April 2013 complaint had not been disclosed by Blattner to his firm, nor was it disclosed to FINRA through a Form U4. Blattner instead chose to pay the customer off, writing a $15,000.00 check payable to KM and HM from Blattner’s own banking account. Apparently, KM was instructed by Blattner to establish another Investors Capital Corp account so that Blattner could arrange for the check to be deposited. Evidently, Blattner informed KM and HM that the compensation was for the losses which KM and HM incurred. FINRA concluded Investors Capital Corp neither knew nor authorized Blattner’s activities regarding the settlement of the customer’s complaint. Consequently, FINRA found Blattner’s conduct violative of FINRA Rule 2010.
FINRA Public Disclosure reveals that Blattner has been referenced in three customer initiated investment related disputes pertaining to allegations of his improper conduct during the period that he was employed with Investors Capital Corp. In particular, a customer was awarded $26,267.59 in damages in connection with an arbitration claim in which Blattner was found liable for effecting equity and mutual fund transactions in the customer’s account that were not suitable for the customer. FINRA Arbitration No. 10-04000 (June 13, 2011).
Subsequently, a customer initiated investment related arbitration claim involving Blattner’s conduct was settled for $170,000.00 in damages founded on accusations that unsuitable mutual fund, corporate debt and stock transactions were effected in the customer’s account. FINRA Arbitration No. 10-02243 (Aug. 30, 2011). Thereafter, a customer filed an investment related arbitration claim concerning Blattner’s activities where the customer sought $69,007.00 in damages based upon allegations of suitability and poor investment performance. FINRA Arbitration No. 17-00368 (Mar. 6, 2017).
Blattner’s employment with Cetera Advisors LLC was terminated on February 28, 2018.
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