Nathan D. Bartow, of Barberton, Ohio, a stockbroker with Fifth Third Securities, Inc., was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he obstructed a FINRA investigation into allegations of mismanagement and conversion of customer funds. Letter of Acceptance, Waiver and Consent, No. 2016049765601 (June 16, 2016).
According to the AWC, on April 25, 2016, Fifth Third Securities informed FINRA, via a Uniform Termination Notice for Securities Industry Registration, that Bartow was terminated after the firm received a report that Bartow was named in a customer complaint alleging negligent management and conversion of assets belonging to customer, HM.
The AWC stated that FINRA subsequently launched an investigation into Bartow’s conduct, and on May 25, 2016, requested that Bartow provide FINRA with information and documentation pertaining to the allegations, per FINRA Rule 8210. On June 2, 2016, Bartow’s counsel acknowledged FINRA’s requested information and received a deadline from FINRA of June 9, 2016 for Bartow to cooperate.
The AWC reported that on June 9, 2016, Bartow’s counsel informed FINRA’s investigatory personnel that Bartow would not be providing the information and documentation per FINRA’s requests, and confirmed that Bartow would not be cooperating at any point. FINRA found that Bartow’s failure to cooperate in this regard was violative of FINRA Rules 2010 and 8210, resulting in his permanent bar.
Public disclosure records via FINRA’s BrokerCheck reveal that Bartow has been subject to eight disclosure incidents. On August 24, 2011, Bartow was named in a customer dispute in which a customer alleged unsuitable recommendations. On June 21, 2013, Bartow settled a customer dispute for $23,761.89 amid allegations of misrepresentations concerning investments.
On July 10, 2013, Bartow settled a customer dispute for $14,250.96 amid allegations that Bartow apparently guaranteed the investor returns on the customer’s investment. On September 25, 2013, Bartow settled another customer dispute for $11,750.01 amid allegations of misrepresentations and unsuitable recommendations.
On April 24, 2015, Bartow settled an additional customer dispute for $8,388.73 after the customer alleged misrepresentations concerning insurance policies purchased by the customer. On March 29, 2016, Bartow became subject to a pending customer dispute, in which a customer is requesting $500,000.00 amid allegations of Bartow’s negligence concerning the management of the customer’s funds, breach of fiduciary duty, and conversion of investment funds.
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