Stuart Myles Godin (also known as Stu Godin) of Los Angeles California a stockbroker employed by Western International Securities Inc. has been discharged on April 6, 2020 based upon allegations that Godin borrowed funds from a Western International Securities customer.
Godin is the subject of seven customer initiated investment related disputes pertaining to allegations of his bad business practices while employed by securities broker dealers including Morgan Stanley DW Inc., Oppenheimer and RBC Capital Markets LLC. Financial Industry Regulatory Authority (FINRA) Public Disclosure indicates that a customer initiated investment related arbitration claim pertaining to Godin’s conduct resulted in the customer being awarded $126,000.00 in compensatory damages supported by Godin being found liable on the customer’s causes of action including that he breached a fiduciary duty to the customer. According to the claim, misrepresentations were made by the stockbroker regarding risks of limited partnerships that were sold to the customer while Godin was registered with Oppenheimer. Options were traded on an excessive and unsuitable basis and the customer had been defrauded.
Godin is also referenced in a customer initiated investment related arbitration claim which was resolved for $9,999.00 in damages based upon accusations of securities laws violations relating to direct participation program interests and limited partnership interests sold by Godin while registered with Morgan Stanley.
On August 12, 2016, another customer initiated investment related complaint involving Godin’s conduct was settled for $15,000.00 in damages based upon allegations that the customer’s account was mismanaged by Godin when he was associated with RBC Capital Markets. According to the complaint, the customer sustained catastrophic losses on a managed futures program between October 2014 and June of 2016 despite being informed by the stockbroker that the losses would not exceed twenty percent.
Godin is also referenced in a customer initiated investment related arbitration claim which was resolved for $20,000.00 in damages founded on accusations that the RBC Capital Markets customer was provided with bad investment recommendations and had experienced undue losses because of Godin. FINRA Arbitration No. 18-00482 (Mar. 10, 2018). The stockbroker has been identified in another customer initiated investment related complaint which was resolved on August 5, 2019 for $9,000.00 in damages founded on accusations of incompetence and misrepresentations as it pertained to the selection of stocks for the customer’s account between 2018 and 2019 when Godin was employed by Western International Securities.
