Dexter Leroy Thomas of Dallas Texas a stockbroker formerly employed by National Planning Corporation is referenced in a customer initiated investment related arbitration claim where the customer sought $94,352.90 in damages founded on accusations including (1) breach of fiduciary (2) negligence (3) suitability (4) violation of Texas Securities Act and (5) violation of FINRA rules relating to a variable annuity that the customer was placed in. Financial Industry Regulatory Authority (FINRA) Arbitration No. 18-00601 (Mar. 1, 2018).
FINRA Public Disclosure confirms that Thomas is referenced in two additional customer initiated investment related disputes pertaining to allegations of his misconduct during the time that he was registered with SunAmerica Securities Inc. and National Planning Corporation. For example, on June 17, 2002, a customer initiated investment related complaint concerning Thomas’ activities was resolved for $13,002.25 in damages based upon accusations that Thomas liquidated the customer’s variable annuity holdings without the customer’s consent.
Another customer initiated investment related arbitration claim concerning Thomas’ conduct was settled for $30,000.00 in damages founded on allegations that unsuitable investment recommendations had been made to the customer; fiduciary duties owed to the customer had been breached; and the customer’s investments were mismanaged and improperly supervised. FINRA Arbitration No. 13-03354 (Sept. 22, 2014).
Thomas’ registration with National Planning Corporation was terminated on November 29, 2017. Since November 30, 2017, Thomas has been employed by United Planners’ Financial Services of America.
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