Robert Henderson Jr of Miami Lakes Florida a stockbroker formerly registered with IFS Securities has been fined $30,000.00 and suspended for 13 months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based on a FINRA Hearing Panel Decision containing findings that Henderson engaged in unapproved outside business activities and had failed to make disclosures of liens entered against him. Department of Enforcement v. Robert Henderson Disciplinary Proceeding No. 2017053462401 (Sept. 7, 2021).
According to the Decision, Henderson engaged in three outside business activities between December of 2010 and October of 2018. This was not made known to IFS Securities by Henderson. FINRA noted that his activities pertained to SWH Holdings Corp., 2001 Florida LLC and RHPTJ Managers LLC.
Henderson served as the director and president of SWH Holdings, and he maintained a ten percent stake in the company. In this role he was involved in the construction of a condominium building and other real estate transactions in Fort Lauderdale. The Decision stated that him and his sister-in-law were involved in the management of Florida LLC which owned apartment units in Miami. Henderson created RHPTJ Managers which was an equipment leasing business. FINRA indicated that Henderson handled financial transactions with all of these companies.
The regulator stated that Henderson was administered a personal activity questionnaire in which he was required to disclose the companies. He failed to comply. FINRA determined that Henderson violated Rules 2010 and 3270.
Henderson has been identified in eight customer initiated investment related disputes regarding allegations of his improper actions during the time that he was associated with securities broker dealers including Delta Equity Services Corp. FINRA Public Disclosure shows that a customer initiated investment related FINRA securities arbitration claim concerning Henderson’s activities was resolved for $35,000.00 supported by accusations of unsuitable transactions in the customer’s account at Delta Equity Services Corp resulting in excessive commissions and damages. The claim alleges that Henderson’s trades were unauthorized and unsuitable.
Henderson is also referenced in a customer initiated investment related FINRA securities arbitration claim which was settled for $40,000.00 in damages based upon allegations that Henderson breached a fiduciary duty to the customer in reference to options trades at Delta Equity Services Corp. The claim also alleges that Henderson made unauthorized trades.
A different customer filed an investment related complaint concerning Henderson’s activities where the customer sought $100,000.00 in damages founded on accusations of unsuitable recommendations and possible misappropriation relating to a variable annuity transaction. The claim alleges that money was used by the Delta Equity Services Corp customer for collateral in a hotel that Henderson owned.
Henderson was registered with IFS Securities from December 17, 2010 to November 21, 2019. He has been registered with San Blas Securities LLC as a stockbroker since February 24, 2021, and registered with SB Advisory LLC as an investment adviser representative since February 25, 2021.
