Roger Charles Faubel of Boardman Ohio a stockbroker formerly employed by National Securities Corporation has been discharged on November 2, 2017 founded on accusations that Faubel disseminated customer account information in violation of the firm’s policy.
This is not the first time that Faubel has been terminated for alleged misconduct. Particularly, on October 12, 2007, Faubel was discharged from Saxony Securities Inc. supported by allegations that he executed purchase orders in a customer’s account without procuring the customer’s permission. The termination from Saxony Securities came after Faubel had apparently been placed on heightened supervision.
Faubel has also been fined and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he effected Select Sector SPDR Fund and Credit Suisse High Yield Bond Fund transactions in the customer’s account without authorization; conduct violative of IM-2310-2 and NASD Rule 2110. Letter of Acceptance Waiver and Consent No. 2007010948401 (Oct. 8, 2008).
Moreover, FINRA Public Disclosure reveals that Faubel has been identified in four additional customer initiated investment related disputes pertaining to accusations of his violative conduct during the period that he was registered with Saxony Securities, Inc., Midsouth Capital and Ridgeway & Conger. Particularly, on April 15, 2004, a customer initiated investment related complaint regarding Faubel’s conduct was settled for $24,999.00 in damages based upon allegations of breach of fiduciary duty, omissions and unsuitable investment recommendations having been made to the customer concerning annuities and mutual funds. National Association of Securities Dealers (NASD) Arbitration No. 04-00292 (Apr. 15, 2004).
Subsequently, a customer initiated investment related arbitration claim regarding Faubel’s activities was resolved for $50,000.00 in damages founded on accusations of suitability, misrepresentation, and breach of fiduciary duty pertaining to the customer’s variable annuity transactions. On June 10, 2008, another customer initiated investment related complaint involving Faubel’s conduct was settled for $10,000.00 in damages supported by allegations that Faubel placed unauthorized stock transactions in the customer’s account.
Further, on April 5, 2018, a customer initiated investment related complaint concerning Faubel’s activities was resolved for $16,000.00 in damages based upon accusations that misrepresentations had been made to the customer and unsuitable certificate of deposit transactions had been executed in the customer’s account.
Between November 30, 2017 and May 8, 2018, Faubel was employed by Chelsea Financial Services.
The information contained herein has been obtained from reliable sources however may not be accurate and is not guaranteed by us. Readers are encouraged to undertake their own independent investigation and evaluation of the relevant facts. All claims and allegations are subject to adjudication, decisions may be subject to appeal, and no inference is intended, nor should any inference be made from any information contained herein from any source.
This posting and the information on our website is for general information purposes only. This content should be not considered legal advice, and any responses, comments, e-mails, other communications do not form any attorney client relationship. Attorney Advertisement. See Important Disclaimer
Guiliano Law Group
Our practice is limited to the representation of investors. We accept representation on a contingent fee basis, meaning there is no cost to you unless we make a recovery for you. There is never any charge for a consultation or an evaluation of your claim. For more information, contact us at (877) SEC-ATTY.
For more information concerning common claims against stockbrokers and investment professionals, please visit us at securitiesarbitrations.com
To learn more about FINRA Securities Arbitration, and the legal process, please visit us at securitiesarbitrations.com
