Robert Henderson of Miami Lakes Florida a stockbroker formerly registered with IFS Securities has been charged by Financial Industry Regulatory Authority (FINRA) in a Complaint which alleged that Henderson engaged in unpermitted outside business activities during the period in which he was associated with IFS Securities. Department of Enforcement v. Robert Henderson Disciplinary Proceeding No. 2017053462401 (Dec. 6, 2019).
According to the Complaint, when Henderson was associated with IFS Securities, he was obligated to furnish written notification to the securities broker dealer for any of his outside business activities. Those outside business activities were only permitted with IFS’ authorization. Henderson purportedly disregarded these policies by, inter alia: serving as director and officer of a real estate based company he created, SWH Holdings Corp.; engaging in activities on SWH’s behalf between 1999 and 2017; creating 2001 Florida LLC which operated an apartment complex; and managing an equipment leasing company he created called RHPTJ Managers.
The Complaint alleged that there were no disclosures made by Henderson in reference to the companies he created and ran, and IFS Securities did not know about one or more of Henderson’s activities until receiving word about them from FINRA in November of 2017. FINRA Department of Enforcement alleged that Henderson’s engagement in undisclosed outside business activities was violative of FINRA Rules 2010 and 3270.
FINRA Public Disclosure confirms that Henderson is referenced in eight more customer initiated investment related disputes containing allegations of his violative conduct while he was employed by Delta Equity Services Corporation and 1st Discount Brokerage. For example, a customer initiated investment related complaint concerning Henderson’s activities was resolved for $40,000.00 in damages founded on accusations that fiduciary obligations to the customer were not complied with and unauthorized trades were executed by the stockbroker.
Another customer initiated investment related complaint in regard to Henderson’s conduct was settled for $35,000.00 in damages supported by allegations that trades placed in the customer’s account failed to be suitable and had been executed on an excessive and unauthorized basis. Also, a customer filed an investment related complaint involving Henderson’s activities where the customer sought $100,000.00 in damages based upon accusations that the customer was poorly advised, and the customer’s funds were misappropriated.
Henderson’s employment with IFS Securities was terminated on November 21, 2019.
