Peter Charlton Budd (also known as Jay Budd) of Morristown, New Jersey, a stockbroker registered with Benjamin F. Edwards Company Inc., has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that Budd failed to pay a $240,000 arbitration award obtained against him by his former employer, Benjamin F. Edwards. FINRA Arbitration No. 20-01103 (Sept. 17, 2021).
FINRA Public Disclosure shows that Budd is referenced in other customer initiated investment related disputes concerning Budd’s conduct while associated with securities broker dealers. On August 31, 1994, a customer initiated investment related FINRA securities arbitration claim involving Budd’s conduct was settled for $36,500.00 in damages based upon allegations that Budd breached his fiduciary duties, defrauded the customer, was otherwise negligent, in connection with the recommendation and sale of investments. FINRA Arbitration No. 93-02825.
On May 20, 2003, a customer initiated investment related FINRA securities arbitration claim involving Budd’s conduct was settled for $14,999.00 in damages based upon allegations that Budd made misrepresentations and overconcentrated the customer’s account relating to the recommendation and sale of common stocks and preferred stocks when Budd was associated with Bear Stearns Co. Inc. FINRA Arbitration No. 02-00694.
Budd is also referenced in a FINRA securities arbitration claim that was settled for $275,000.00 in damages based upon allegations that Budd made unsuitable investment recommendations, and engaged in excessive and unauthorized trading and unsuitable transactions, breached his fiduciary duties, and otherwise violated the securities laws in connection with the recommendation and sale of over-the-counter equities and common stocks and preferred stocks when Budd was associated with Benjamin F. Edwards Co. Inc. FINRA Arbitration No. 18-03413 (July 24, 2019).
Peter Budd was associated with Benjamin F. Edwards Company Inc. from November 20, 2013 to August 14, 2019.
