Andrew Owen Brown, of Syosset New York a stockbroker formerly registered with J.D. Nicholas Associates Inc. is referenced in a customer initiated investment related arbitration claim in which the customer requested $50,000.00 in damages based upon accusations that (1) the customer’s account was churned (2) fiduciary duties owed to the customer had been breached (3) transactions were effected in the customer’s account that were not suitable for the customer and (4) over-the-counter equities and stock transactions in the customer’s account had not been supervised by the firm. Financial Industry Regulatory Authority (FINRA) Arbitration No. 16-01204 (Dec. 20, 2017).
FINRA Public Disclosure confirms that Brown has been referenced in five additional customer initiated investment related disputes pertaining to allegations of Brown’s violative conduct during the time that he was employed by J.D. Nicholas and Trident Partners, LTD. Particularly, on August 12, 2002, a customer brought an investment related complaint pertaining to Brown’s conduct where the customer sought $7,800.00 in damages founded on accusations that unauthorized over-the-counter equity trades were executed in the customer’s investment account.
Subsequently, a customer initiated investment related arbitration claim pertaining to Brown’s conduct was resolved for $15,000.00 in damages based upon allegations that Brown effected unauthorized stock trades in the customer’s account, generated commissions from the customer that were inappropriate and caused the customer to accrue undue margin debt. National Association of Securities Dealers (NASD) Arbitration No. 05-02678 (May 6, 2006). Another customer initiated investment related arbitration claim concerning Brown’s activities was resolved for $4,749.00 in damages supported by accusations that unauthorized equity trades were executed in the customer’s account by Brown. FINRA Arbitration No. 09-06603 (Mar. 16, 2010).
Thereafter, a customer initiated investment related arbitration claim regarding Brown’s conduct was settled for $8,628.51 in damages based upon allegations that Brown effected transactions in the customer’s account that were not suitable for the customer, negligently transacted in the customer’s account, churned the customer’s investment portfolio and overconcentrated the customer’s assets in options, stock and over-the-counter equities. FINRA Arbitration No. 14-03697 (May 2, 2016). Another customer filed an investment related arbitration claim pertaining to Brown’s activities in which the customer requested $66,000.00 in damages founded on accusations that Brown made unsuitable recommendations to the customer in reference to an options trading account. FINRA Arbitration No. 17-02024 (Aug. 10, 2017).
Brown’s employment with J.D. Nicholas was terminated on July 6, 2015. He became employed by Worden Capital Management LLC on December 19, 2017.
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