Raymond Thomas Clark, of Buffalo, New York, a stockbroker formerly registered with Dynasty Capital Partners, Inc., was subject of the revocation of his securities licensure by Financial Industry Regulatory Authority (FINRA) based upon allegations that he did not cooperate with his payment of fines assessed to him by FINRA for committing sales practice violations. Letter No. 2011027402201 (Nov. 18, 2015).
FINRA Public Disclosure reveals that Clark was fined $20,000.00 and suspended for nine months from associating with any FINRA member pursuant to a Hearing Panel Decision which contained findings that Clark communicated with customers utilizing unauthorized channels, falsified statements to his firm concerning his business activities, and omitted information from his firm regarding a customer initiated investment related complaint pertaining to allegations of his wrongdoing. Department of Enforcement v. Raymond Thomas Clark, No. 2011027402201. FINRA concluded that Clark’s conduct was violative of FINRA Rules 2010.
Clark was later barred from associating with any FINRA member in any capacity pursuant to an Office of Hearing Officers Order Accepting Offer of Settlement which contained findings that Clark obstructed a FINRA investigation into allegations that Clark, inter alia, effected transactions in customer accounts in an unauthorized and excessive manner; conduct violative of FINRA Rules 2010 and 8210. Department of Enforcement v. Raymond Clark, No. 2014040349001 (Mar. 26, 2015).
FINRA Public Disclosure further reveals that on April 16, 2015, a customer filed an investment related arbitration claim involving Clark’s conduct, in which the customer requested $49,000.00 in damages based upon allegations that Clark’s trading of over-the-counter equities led the customer to sustain investment losses. Moreover, on August 25, 2015, a customer filed an investment related civil action involving Clark’s activities, in which the customer requested $150,000.00 in damages based upon allegations that Clark negligently managed the customer’s investments and made misrepresentations to the customer pertaining to over-the-counter equities.
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