Ronald Harris Rothchild of Garden City New York a stockbroker formerly registered with Raymond James Financial Services is referenced in a customer initiated investment related arbitration claim which was resolved for $50,000.00 in damages based upon accusations that (1) the customer’s account was overconcentrated in bad investments (2) fiduciary duties had been breached (3) the customer’s account was administered negligently (4) contractual obligations were violated and (5) Raymond James Financial Services Inc. failed to supervise Rothchild’s activities. Financial Industry Regulatory Authority (FINRA) Arbitration No. 18-02666 (June 27, 2019).
FINRA Public Disclosure confirms that Rothchild has been identified in three additional customer initiated investment related disputes containing allegations of his violative conduct when he was employed by Raymond James Financial Services. Specifically, on June 14, 2016, a customer initiated investment related complaint regarding Rothchild’s activities was settled for $132,000.00 in damages supported by accusations that transactions executed by Rothchild in the customer’s account failed to be suitable for the customer; false or misleading assurances had been provided by Rothchild concerning the income produced through investments that he recommended; and unauthorized mutual fund and stock trades as well as direct investment sales were effected by Rothchild in the customer’s account during the time that he was associated with Raymond James.
Another customer initiated investment related arbitration claim concerning Rothchild’s behavior was resolved for $48,000.00 in damages founded on allegations of omissions and misrepresentations; violation of contractual and fiduciary duties; negligent representations or account management; and Raymond James’ failure to supervise Rothchild’s trading in the customer’s account. FINRA Arbitration No. 16-03627 (Oct. 19, 2017). Also, Rothchild is the subject of a customer initiated investment related complaint which was settled on August 28, 2018 for $75,000.00 in damages based upon accusations that the customer’s risk tolerance had been falsely stated on new account documentation; false or misleading statements were made about investments; and mutual fund and equity trades were in no way consistent with the customer’s objectives.
Rothchild was discharged by Raymond James supported by allegations that he exercised control over a customer’s account and placed trades on an unsuitable and unauthorized basis.
