Laurence Charles Greene of Ellijay Georgia a stockbroker formerly employed by Herbert J. Sims Co. Inc. is referenced in a customer initiated investment related arbitration claim which was settled for $65,000.00 in damages supported by accusations that (1) false or misleading statements had been made in regard to investments Greene sold to the customer (2) unauthorized trades were effected in the customer’s account (3) fixed income products were unsuitable and (4) the customer had been defrauded on transactions effected by Greene during the period in which the stockbroker was associated with Herbert J. Sims Co. Inc. FINRA Arbitration No. 18-03211 (May 31, 2019).
Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that Greene is referenced in two more customer initiated investment related disputes which pertain to allegations of his violative conduct while employed with Herbert J. Sims Co. Inc. Specifically, a customer initiated investment related arbitration claim regarding Greene’s conduct was resolved for $60,000.00 in damages founded on accusations that trades were effected in an excessive manner; fiduciary obligations were violated; transactions were not suitable given the customer’s risk tolerance, objectives or overall investment circumstances; and the customer’s account was churned. FINRA Arbitration No. 17-02956 (Dec. 1, 2018).
Also, Greene is the subject of a customer initiated investment related arbitration claim which was settled for $100,000.00 in damages based upon allegations that the customer’s investment portfolio had been churned by the stockbroker; and the customer had been placed into corporate debt and municipal debt products along with oil and gas securities which were entirely unsuitable and which led the customer to experience unwarranted losses. FINRA Arbitration No. 18-01706 (Dec. 1, 2018).
Greene’s registration with Herbert J. Sims Co. Inc. was terminated on January 3, 2018.
