Joel Eric Breiter of Westhampton New York a stockbroker formerly registered with Oppenheimer Co. Inc. is the subject of a customer initiated investment related arbitration claim which settled for $112,500.00 in damages founded on accusations that (1) Breiter’s investment recommendations failed to be suitable given the customer’s risk tolerance and (2) misrepresentations had been made by Breiter concerning corporate bond and over-the-counter equities placed in the customer’s account. Financial Industry Regulatory Authority (FINRA) Arbitration No. 17-01949 (Sept. 18, 2018).
FINRA Public Disclosure reveals that Breiter is referenced in five more customer initiated investment related disputes containing allegations of his violative conduct while employed with UBS Financial Services and Oppenheimer Co. Inc. Particularly, a customer initiated investment related complaint involving Breiter’s conduct was resolved for $375,000.00 in damages supported by accusations that during the period in which Breiter was associated with UBS Financial Services, the customer was inappropriately sold auction rate securities which produced unwarranted losses.
Then, a customer initiated investment related complaint concerning Breiter’s activities was settled for $250,000.00 in damages based upon allegations that illiquid and speculative investments had been held in the customer’s investment portfolio producing undue losses. Subsequently, a customer filed an investment related complaint in regards to Breiter’s activities where the customer requested damages estimated to exceed $5,000.00 founded on accusations that unauthorized equities and mutual fund transactions were effected in the customer’s account. Additionally, Breiter is referenced in a customer initiated investment related written complaint on January 27, 2017 in which the customer sought $430,000.00 in damages supported by allegations that during the time that Breiter was employed by Oppenheimer Co. Inc., the customer had been placed into inappropriate common and preferred stock in addition to over-the-counter equities.
Breiter has been employed by Oppenheimer Co. Inc. since February 18, 2014.
