Jeremy D. Hare, of Philadelphia, Pennsylvania, a stockbroker formerly registered with Oppenheimer & Co. Inc., has been named in a pending customer initiated investment related arbitration claim on September 14, 2016, in which the customer requested $1,000,000.00 in damages based upon allegations that Hare charged the customer with excessive commissions, committed negligence, breached his fiduciary and contractual duties, made misrepresentations, churned the customer’s account, and committed fraud.
FINRA Public Disclosure reveals that Hare has been named in a twenty-three (23) customer initiated investment related arbitration claims. On September 6, 2016, a customer lodged an investment related arbitration claim against Hare, in which the customer requested $300,000.00 in damages based upon allegations that Hare effected unsuitable transactions in the customer’s account, breached his contractual and fiduciary obligations, churned the customer’s account, charged the customer with excessive commissions, and defrauded the customer.
On August 22, 2014, Hare settled a customer initiated investment related arbitration claim for $1,075,000.00 in damages based upon allegations against Hare of effecting trades in the customer’s account which were not suitable nor authorized by the customer. The customer additionally alleged that Hare churned the customer’s account and charged excessive commissions.
On December 12, 2012, Hare settled a customer initiated investment related arbitration claim for $20,000.00 based upon allegations against Hare of charging the customer with commissions which the customer did not acquiesce to. On August 28, 2012, Hare settled a customer initiated investment related arbitration claim for $50,000.00 based upon allegations that Hare effected unsuitable and unauthorized investment transactions in the customer’s account, and churned the customer’s account.
On August 13, 2012, Hare settled a customer initiated investment related arbitration claim for $55,000.00 based upon allegations against Hare of misleading the customer concerning investments in the customer’s account, as well as effecting investment transactions which were not suitable, and engaging in improper and the unauthorized use of the customer’s margin account.
On August 6, 2012, Hare settled a customer initiated investment related arbitration claim for $98,107.82 in damages based upon allegations against Hare of selling the customer’s investments despite not having proper authorization, effecting unsuitable investment transactions, and misleading the customer concerning investments in the customer’s account. On June 6, 2012, Hare settled a customer initiated investment related arbitration claim for $15,000.00 in damages based upon allegations that he traded in the customer’s account without having proper authority.
On May 15, 2012, Hare settled a customer initiated investment related arbitration claim for $8,428.20 in damages based upon allegations that Hare made an unauthorized trade in the customer’s account, and charged the customer with improper commissions. On October 19, 2011, Hare settled a customer initiated investment related arbitration claim for $30,000.00 based upon allegations against Hare of churning and making unauthorized and unsuitable trades in the customer’s account. On June 10, 2011, Hare settled a customer initiated investment related arbitration claim for $115,000.00 in damages based upon allegations that Hare misled the customer concerning the values in the customer’s account.
Hare is permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity per Hearing Panel Decision containing findings that Hare falsified his testimony to FINRA in an investigation into allegations of Hare’s unauthorized discretionary trading. Department of Enforcement v. Jeremy D. Hare, No. 2008014015901 (Sept. 18, 2012). Hare’s conduct was found by FINRA to be violative of FINRA Rules 2010 and 8210.
Most recently, on January 14, 2014, FINRA sanctioned Hare after he was found by FINRA to have failed to comply with a settlement arrangement or arbitration award, or failed to respond to FINRA concerning his status of complying with such in connection with a customer initiated investment related arbitration claim
After Oppenheimer & Co. Inc. terminated Hare in August of 2011, but prior to Hare being barred by FINRA, he became a registered representative for Gilford Securities Incorporated from August of 2011 through August of 2012.
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