Calvin Edward Moores, of Brea, California, a stockbroker formerly registered with Independent Financial Group, LLC, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that he failed to correspond with FINRA staff in reference to information about Moores’ business activities. Letter No. 2015047356601 (Mar. 7, 2016).
FINRA Public Disclosure reveals that Moores has been named in five customer initiated investment related disputes containing allegations of his wrongdoing while employed with Crowell, Weedon & Co. and Centaurus Financial, Inc. Specifically, on July 7, 2013, a customer initiated investment related written complaint involving Moores’ conduct was settled for $10,000.00 in damages based upon allegations that he effected unauthorized mutual fund and over-the-counter equities trades in the customer’s account.
Subsequently, on July 8, 2013, a customer filed an investment related written complaint involving Moores’ conduct, in which the customer requested $60,000.00 in damages based upon allegations that he placed stock trades in the customer’s account without the customer’s consent. On July 13, 2015, a customer initiated investment related arbitration claim regarding Moores’ activities was resolved for $190,000.00 in damages based upon allegations that he made unsuitable investment recommendations to the customer concerning equities. The customer also alleged that Moores over-concentrated the customer’s account in speculative investments which caused the customer to incur investment losses.
Further, on August 25, 2016, a customer initiated investment related arbitration claim involving Moores’ conduct was settled for $12,500.00 in damages based upon allegations that he violated the securities laws of the State of California, mismarked the customer’s equity orders as unsolicited, breached his contractual and fiduciary duties to the customer, effected transactions in the customer’s account that were not suitable for the customer, and ultimately committed securities fraud. Moreover, the customer claimed that Centaurus Financial, Inc. negligently supervised Moores’ conduct concerning equity transactions effected in the customer’s investment account.
On April 17, 2017, another customer filed an investment related arbitration claim involving Moores’ conduct based upon allegations including including elder abuse, negligent supervision, breach of fiduciary duty, omissions of investment information, and unsuitable investment recommendations in connection with penny stock and other equities transactions effected in the customer’s account.
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