Scott Allen Sibley of Fort Lauderdale, Florida, a stockbroker formerly employed with Raymond James & Associates, is identified in a customer initiated investment related arbitration claim, wherein the customer sought $250,000.00 in damages based upon allegations of breach of contract, breach of fiduciary duty, negligence, fraud, and the violation of Florida’ Securities and Investor Protection Act in reference to the investments effected in the customer’s accounts from May 22, 1992, to March 16, 2017. Financial Industry Regulatory Authority (FINRA) Arbitration No. 17-02277 (Aug. 28, 2017).
FINRA Public Disclosure reveals that Sibley has been subject to another customer initiated investment related arbitration claim while associated with Moors & Cabot, Inc., wherein the customer requested $300,000.00 in damages supported by allegations that the fiduciary and contractual obligations owed to the customer were breached, and that the customer was defrauded in regard to over-the-counter stock transactions effected in the customer’s investment portfolio. FINRA Arbitration No. 17-02201 (Aug. 16, 2017).
The customer disputes were filed subsequent to Sibley having consented to being barred by FINRA in all capacities based on allegations that he effected unauthorized trades in customer accounts and made precious metals and equity options recommendations that were not suitable for customers. Letter of Acceptance, Waiver and Consent, No. 2015044123501 (Apr. 27, 2017). FINRA concluded that Sibley violated NASD Rule 2510, as well as FINRA Rules 2360 and 2010.
Sibley was fired by Raymond James on March 10, 2015, based upon allegations of unauthorized trading and the myriad of customer complaints regarding Sibley’s improper use of discretion in their accounts. He was later employed with Moors & Cabot, Inc. from March 18, 2015, to February 27, 2017.
Guiliano Law Group
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