Richard French Judd (also known as Rick Judd) of Chicago Illinois a stockbroker employed by CIBC World Markets Corp. has been identified in a customer initiated investment related arbitration claim where the customer was awarded compensatory damages founded on Judd being found liable on the customer’s claims which included that investments had been liquidated from the customer’s account without the customer’s permission when Judd was employed by CIBC World Markets. Financial Industry Regulatory Authority (FINRA) Arbitration No. 18-04086 (June 25, 2019).
FINRA Public Disclosure indicates that Judd is the subject of seven more customer initiated investment related disputes pertaining to allegations of his misconduct during the period in which he was employed by securities broker dealers including UBS Financial Services Inc, CIBC World Markets, Geneva Advisors and William Blair and Company.
A customer initiated investment related arbitration claim pertaining to Judd’s conduct has been settled for $24,000.00 in damages supported by allegations that misleading statements were made by the stockbroker pertaining to the risks of stocks and that the customer’s account was not allocated appropriately by the stockbroker when he was employed by UBS Financial.
Another customer initiated investment related arbitration claim involving Judd’s conduct was settled for $250,000.00 in damages based upon allegations that false representations were made to the customer by Judd regarding his failure to abide by the customer’s instructions with respect to the purchase of puts and calls to cover an investment that the customer made in CME stock when Judd was associated with UBS Financial.
Judd is also referenced in a customer initiated investment related arbitration claim which has been resolved for $25,000.00 in damages based upon accusations that trades were effected without the customer’s consent. According to the claim, the customer’s account was exposed to negligence. Fiduciary obligations were allegedly breached. The claim also alleges that mutual fund and certificate of deposit transactions were unsuitable given the customer’s investment profile when Judd was associated with UBS Financial.
Judd’s registration with UBS Financial was terminated during the time that he was subject of an internal investigation. UBS Financial was concerned that transactions were facilitated in the customer’s account by the stockbroker on a discretionary basis without obtaining written permission from the customer or the firm. UBS Financial indicated that the stockbroker possibly failed to timely report or otherwise escalate a customer initiated investment related complaint to the firm too. The securities broker dealer also indicated that a customer’s investment instructions were not followed by Judd. Judd has been employed by CIBC World Markets Group since October 31, 2017.
