Charles John Obryant III of Raleigh North Carolina a stockbroker formerly registered with Stifel Nicholas Co. Inc. is the subject of a customer initiated investment related arbitration claim which was settled for $330,000.00 in damages founded on accusations that (1) stock trades effected in the customer’s account failed to be suitable for the customer given the customer’s objectives or risk tolerance (2) the customer’s investment portfolio had been churned (3) a fiduciary duty owned to the customer had been violated and (4) Stifel Nicholas Co. Inc. failed to supervise Obryant’s activities in reference to the customer’s investment account. Financial Industry Regulatory Authority (FINRA) Arbitration No. 17-00505 (June 5, 2018).
FINRA Public Disclosure confirms that Obryant is referenced in thirteen additional customer initiated investment related disputes pertaining to allegations of Obryant’s violative conduct while Obryant was associated with Stifel Nicholas Co. Inc. Specifically, a customer initiated investment related arbitration claim concerning Obryant’s conduct was resolved for $632,298.00 in damages based upon accusations that the securities broker dealer’s fiduciary obligations to the customer had been violated; an over-the-counter equity trade placed in the customer’s account failed to be suitable for the customer; and the customer’s investment portfolio had been negligently administered. FINRA Arbitration No. 15-02555 (Dec. 30, 2015).
Additionally, a customer initiated investment related arbitration claim involving Obryant’s activities was settled for $95,000.00 in damages supported by allegations of the breach of a contract governing the customer’s investment transactions; breach of a fiduciary duty which the firm owed the customer; violation of the securities laws of the State of North Carolina; unsuitable trading in the customer’s investment account; negligence in reference to the over-the-counter equities placed in the customer’s account; unauthorized transactions; and violation of FINRA Rules 2330 and 2020, which led the customer to suffer unwarranted losses. FINRA Arbitration No. 16-036638 (Apr. 18, 2017).
Obryant was discharged by Stifel Nicholas on January 26, 2016 founded on accusations of a “loss of confidence” in the firm following the firm’s receipt of a customer complaint concerning Obryant’s alleged misconduct. Between March 2, 2016 and April 18, 2017, Obryant was associated with Thompson Davis Co. Inc.
