Robert Abramowitz of Jericho New York a stockbroker formerly registered with Oppenheimer Co. Inc. is the subject of a customer initiated investment related arbitration claim which was resolved for more than $50,000.00 in damages founded on accusations that (1) fiduciary duties had been violated (2) the customer’s investment account was handled in a negligent manner (3) contractual obligations had been breached (4) the customer’s account was over-concentrated in energy securities (5) trades were unauthorized (6) oil and gas securities failed to be suitable (7) the customer’s account was negligently supervised and (8) Abramowitz made misleading statements concerning his association with an unregistered stockbroker. Financial Industry Regulatory Authority (FINRA) Arbitration No. 18-02666 (June 27, 2019).
FINRA Public Disclosure reveals that Abramowitz is referenced in two customer initiated investment related disputes containing allegations of his violative conduct while employed with Raymond James Financial Services. Specifically, a customer initiated investment related arbitration claim concerning Abramowitz’s conduct was settled for $40,000.00 in damages supported by accusations that misrepresentations and omissions were made by Abramowitz; contractual and fiduciary duties owed to the customer had been breached; the account was administered negligently; and Raymond James failed to supervise Abramowitz’s activities affecting the customer’s account. FINRA Arbitration No. 16-03627 (Oct. 19, 2017).
On August 28, 2018, another customer initiated investment related complaint regarding Abramowitz’s activities was resolved for $75,000.00 in damages based upon allegations that false or misleading statements had been made to the customer concerning the investments selected for the customer’s account; and stock trades failed to be suitable given the customer’s objectives for investing.
Abramowitz’s employment with Raymond James Financial Services was terminated on April 21, 2016. He was employed by Oppenheimer Co. Inc. between April 21, 2016 and September 8, 2017. Since September 1, 2017, Abramowitz has been registered with National Securities Corporation.
