John Dennis Lowry of New York, New York, the owner of Spartan Capital Securities LLC, was identified in a customer initiated investment related FINRA securities arbitration claim which was settled for $75,000.00 in damages because Lowry allegedly breached a fiduciary duty and had recommended unsuitable investments while he was registered with Spartan Capital Securities. Financial Industry Regulatory Authority (FINRA) Arbitration No. 21-01975 (April 12, 2022).
FINRA Public Disclosure shows that Lowry has been identified in at least ten additional “disclosed” customer initiated investment related disputes concerning his conduct while registered with Spartan Capital Securities. Lowry is the subject of a FINRA securities arbitration claim where the customer was awarded $210,000.00 in compensatory damages. Lowry and Spartan Capital Securities were held liable for sales practice violations, including breach of fiduciary duty, unauthorized and excessive trading, fraud, unsuitable recommendations, and violation of FINRA Rules. FINRA Arbitration No. 16-03605 (August 24, 2018).
Another FINRA securities arbitration claim concerning Lowry’s activities was settled to resolve accusations of Lowry’s misrepresentations when Lowry was registered with Spartan Capital Securities. FINRA Arbitration No. 18-01753 (March 6, 2020).
Lowry is also the subject of a FINRA securities arbitration claim in which the customer requested $240,000.00 in damages for alleged unsuitable recommendations in connection with the sale of securities at Spartan Capital Securities. FINRA Arbitration No. 20-02035. The claim also alleges that Lowry failed to supervise and violated FINRA Rule 2010.
On December 10, 2021, another Spartan Capital Securities customer filed an investment related arbitration claim involving Lowry’s conduct where the customer sought compensatory damages based upon allegations that the broker made unauthorized trades and misrepresentations relating to the customer’s investments in private placements and common and preferred stock between 2013 and 2021. FINRA Arbitration No. 21-02950. According to the claim, Lowry failed to supervise and breached a fiduciary duty. The claim also alleges churning by the stockbroker.
Lowry is also referenced in a FINRA securities arbitration claim in which the customer requested compensatory damages for alleged breach of fiduciary duty in connection with a private placement offering during the period that Lowry was associated with Spartan Capital Securities.
Lowry has also been charged by FINRA Department of Enforcement with failing to timely disclose FINRA securities arbitrations alleging that Lowry was involved in sales practice violations. Department of Enforcement v. Spartan Capital Securities LLC and John D. Lowry, Disciplinary Proceeding No. 2019061528001. The complaint alleges that Lowry failed to timely disclose filings and resolutions. At least twenty four arbitrations alleged Lowry’s failure to supervise stockbrokers who engaged in sales practice violations. As a result, Lowry violated FINRA Rules 2010 and 1122 as well as FINRA By-Laws Article V Sections 2(c).
