Robert Steven Weissbein (also known as Bob Weissbein) of Davie Florida a stockbroker currently registered with First Allied Securities Inc. is the subject of a customer initiated investment related arbitration claim where the customer requested $250,000.00 in damages founded on allegations that (1) the customer’s account was administered negligently during the period in which Weissbein was employed by First Allied Securities (2) fiduciary duties were violated and (3) real estate security recommendations made by the stockbroker failed to be suitable. Financial Industry Regulatory Authority (FINRA) Arbitration No. 19-01893 (July 10, 2019).
This is not the first time that Weissbein has been subject of an investor dispute. FINRA Public Disclosure confirms that a customer initiated investment related arbitration claim involving Weissbein’s conduct was resolved for $20,000.00 in damages based upon accusations that when Weissbein was associated with Capital Guardian LLC: false or misleading statements and omissions had been made about investments; contractual obligations had not been complied with; the customer’s account was handled with poor care; fiduciary duties had been violated; investment recommendations were not suitable; and Capital Guardian failed to supervise Weissbein’s direct participation program or limited partnership interest sales. FINRA Arbitration No. 17-01526 (Feb. 28, 2019).
FINRA Public Disclosure also reveals that Capital Guardian LLC has been expelled by FINRA as of January 2018 supported by allegations that the securities broker dealer failed to pay a fine imposed by the regulator for the firm’s supervisory failures. Letter of Acceptance Waiver and Consent No. 2013035775302.
