Richard Michael Stevens of Indianapolis Indiana a stockbroker currently employed by David A. Noyes Co. is referenced in a customer initiated investment related arbitration claim in which the customer sought $60,000.00 in damages founded on allegations that Stevens (1) failed to disclose risks of private placements (2) neglected to conduct adequate due diligence on alternative investments and (3) placed unsuitable investment transactions in the customer’s account which led the customer to sustain catastrophic losses. Financial Industry Regulatory Authority (FINRA) Arbitration No. 18-01307 (Apr. 16, 2018).
FINRA Public Disclosure confirms that Stevens is referenced in three additional customer initiated investment related disputes pertaining to accusations of his sales practice violations during the period that he was registered with David A. Noyes & Company. For example, on March 19, 2014, a customer initiated investment related complaint regarding Stevens’ conduct was resolved for $52,000.00 in damages supported by allegations of inappropriate commissions, undue losses and excessive trading.
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