Jonathan D. Bao of Tarzana California a stockbroker formerly registered with Royal Alliance Associates Inc. is the subject of customer initiated investment related arbitration claim which settled for $700,000.00 in damages supported by accusations of (1) breach of contract (2) breach of fiduciary duty and (3) negligence relating to the customer’s investments in exchange traded fund and over-the-counter equities transactions. Financial Industry Regulatory Authority (FINRA) Arbitration No. 16-03185 (June 16, 2017).
FINRA Public Disclosure confirms that Bao has been referenced in two additional customer initiated investment related disputes that pertain to allegations of Bao’s misconduct while employed with Royal Alliance Associates. Particularly, on September 30, 2013, a customer filed an investment related complaint involving Bao’s conduct where the customer requested $5,000.00 in damages founded on accusations that the customer was not adequately informed about the roll-up percentage rate of a variable annuity death benefit rider.
Thereafter, a customer initiated investment related arbitration claim regarding Bao’s conduct was resolved for $3,000,000.00 in damages based upon allegations that exchange traded fund recommendations were not suitable for the customer. FINRA Arbitration No. 15-00910 (Jan. 31, 2017).
Bao’s employment with Royal Alliance Associates, Inc. was terminated on January 7, 2016.
The information contained herein has been obtained from reliable sources however may not be accurate and is not guaranteed by us. Readers are encouraged to undertake their own independent investigation and evaluation of the relevant facts. All claims and allegations are subject to adjudication, decisions may be subject to appeal, and no inference is intended, nor should any inference be made from any information contained herein from any source.
This posting and the information on our website is for general information purposes only. This content should be not considered legal advice, and any responses, comments, e-mails, other communications do not form any attorney client relationship. Attorney Advertisement. See Important Disclaimer
Guiliano Law Group
Our practice is limited to the representation of investors. We accept representation on a contingent fee basis, meaning there is no cost to you unless we make a recovery for you. There is never any charge for a consultation or an evaluation of your claim. For more information, contact us at (877) SEC-ATTY.
For more information concerning common claims against stockbrokers and investment professionals, please visit us at securitiesarbitrations.com
To learn more about FINRA Securities Arbitration, and the legal process, please visit us at securitiesarbitrations.com
