Robert Edward Schultz, of New Smyrna Beach, Florida, a stockbroker formerly registered with Newport Coast Securities, Inc., is the subject of a customer initiated investment related arbitration claim, which settled for 20,000.00 in damages based upon allegations that Schultz breached his fiduciary duties to the customer, made misrepresentations and omissions, and executed unsuitable transactions regarding private placements and a real estate security. Financial Industry Regulatory Authority (FINRA) Arbitration No. 16-02973 (Nov. 1, 2017).

FINRA Public Disclosure reveals that Schultz has been referenced in three additional customer initiated investment related disputes containing accusations of his misconduct during the time he was associated with Brookstreet Securities Corporation and Newport Coast Securities, Inc. Particularly, a customer initiated investment related arbitration claim concerning Schultz’s activities was resolved for $110,000.00 in damages supported by allegations of breach of fiduciary duty, misrepresentation and suitability in regard to the customer’s direct investment products. FINRA Arbitration No. 11-03811 (June 29, 2012).

Then, a customer initiated investment related arbitration claim involving Schultz’s conduct was settled for $12,500.00 in damages founded on allegations that Schultz failed to supervise a stockbroker who effected inappropriate options transactions in the customer’s account. FINRA Arbitration No. 09-07096 (July 19, 2012). Then, a customer initiated investment related arbitration claim regarding Schultz’s activities was resolved for $198,000.00 in damages based upon accusations of negligence, breach of contract and fiduciary duties, as well as omissions and misrepresentations relating to the customer’s real estate security, penny stock and exchange traded fund investments. FINRA Arbitration No. 14-01140 (July 27, 2015).

Schultz has been associated with eleven different broker dealers, two of which have been expelled by securities regulators for violation of federal securities laws or are otherwise defunct.
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