Ernest Alexander Harris of Tucson, Arizona, a stockbroker registered with Union Capital Company, was the subject of a customer initiated investment related complaint that was settled on August 18, 2023, for $15,000.00 in damages based upon allegations that Harris made the unsuitable investment recommendation of certain stocks during the time that Harris was associated with Union Capital Company. According to the complaint, the stocks performed poorly.
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Harris is mentioned in six other customer initiated investment related disputes concerning his conduct while associated with securities broker dealers. On June 24, 2003, a customer filed an investment related complaint involving Harris’s conduct in which the customer requested $33,000.00 in damages based upon allegations that Harris made misrepresentations of material fact and made unsuitable recommendations in mutual funds when Harris was associated with Citigroup Global Markets Inc. This complaint was denied.
On September 29, 2004, a complaint involving Harris’s conduct was settled for $40,900.00 in damages based upon alleged unapproved private placement sales by Harris when he was associated with Citigroup GMI.
Harris is also referenced in a complaint that was settled on May 13, 2009, for $75,000.00 in damages based upon allegations that Harris made misrepresentations of material fact in connection with the sale of variable annuities when Harris was associated with Citigroup Global Markets Inc.
On June 11, 2010, another customer filed an investment related complaint involving Harris’s conduct in which the customer requested $8,000.00 in damages based upon allegations that Harris made unsuitable recommendations in variable annuities, stocks, and over-the-counter equities during the time that Harris was associated with White Pacific Securities.
Harris is also referenced in a customer initiated investment related FINRA securities arbitration claim that was settled for $300,000.00 in damages based upon allegations that Harris made unsuitable recommendations in asset-backed bonds when Harris was associated with Union Capital Company. FINRA Arbitration No. 23-00149 (January 23, 2023).
On May 28, 2023, a customer initiated investment related FINRA securities arbitration claim involving Harris’s conduct was settled for $95,000.00 in damages based upon allegations that Harris provided unsuitable advice to the customer about asset-backed bonds during the period that Harris was associated with Union Capital Company. FINRA Arbitration No. 23-01457.
Harris has been associated with Union Capital Company in Tucson, Arizona since April 5, 2018. He was associated with Portsmouth Financial Services in Los Angeles, California from November 12, 2013, to April 2, 2018.
