Leonard Voris Fox Jr. of Marlton New Jersey a stockbroker formerly registered with FSC Securities Corporation is the subject of a customer initiated investment related FINRA securities arbitration claim which was resolved for $150,000.00 in damages founded on accusations that the customer’s funds had been misappropriated and that Fox misled them during the time that he was associated with FSC Securities Corporation. Financial Industry Regulatory Authority (FINRA) Arbitration No. 20-01012 (Dec. 10, 2020).
Fox has been identified in five additional customer initiated investment related disputes concerning allegations of his wrongdoing when he was associated with securities broker dealers including Janney Montgomery Scott, Morgan Stanley and FSC Securities Corp. FINRA Public Disclosure shows that Fox is referenced in a customer initiated investment related FINRA securities arbitration claim which was settled for $12,500.00 in damages based upon accusations of negligence and the violation of Securities Exchange Act of 1934 as it related to over-the-counter equities transactions that Fox executed while he was associated with Janney Montgomery Scott. The claim alleges misrepresentation and unsuitable trading by Fox.
Another customer filed an investment related complaint concerning Fox’s conduct in which the customer sought $229,724.68 in damages supported by accusations of the customer being misinformed regarding both the balance of their account and the protections against principal loss on annuities held by the customer when Fox was associated with Morgan Stanley. Fox is also the subject of a customer initiated investment related FINRA securities arbitration claim which was resolved for $125,000.00 in damages founded on allegations that the customer’s instructions were not followed by Fox in regard to the liquidation of stocks from the customer’s account at Morgan Stanley.
Fox is referenced in a different customer initiated investment related FINRA securities arbitration claim which was settled for $162,500.00 in damages based on accusations of unauthorized trading of unit investment trusts and mutual funds by Fox at FSC Securities Corp. FINRA Arbitration No. 16-02868 (Oct. 26, 2016). The claim alleges that Fox excessively traded in their FSC account. On December 8, 2017, another customer initiated investment related FINRA securities arbitration claim regarding Fox’s conduct was resolved for $450,000.00 in damages supported by allegations of misappropriation through disbursements and loans that Fox requested while registered with Morgan Stanley. FINRA Arbitration No. 16-02459.
Fox has been twice sanctioned by FINRA. He was fined $2,500.00 and suspended from associating with any FINRA member in any capacity founded on findings of him borrowing customer funds without getting permission from Morgan Stanley. Letter of Acceptance Waiver and Consent No. 2009020913601. He has also been barred from associating with any FINRA member in any capacity based upon findings that he declined to cooperate in a FINRA investigation concerning accusations of his borrowing of customer funds and his misappropriation of funds. Letter of Acceptance Waiver and Consent No. 2016050482101. Fox’s securities agent registration was also revoked by New Jersey Bureau of Securities on August 17, 2017.
