Edward Lonnie Dover III, of Winter Park, Florida, a stockbroker formerly registered with SunTrust Investment Services, Inc., was terminated from employment on September 20, 2016, based upon allegations that he violated his firm’s procedures and policies concerning the handling of a customer’s fixed annuity transaction.
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Dover has been identified in eight customer initiated investment related disputes containing allegations of Dover’s misconduct while employed with SunTrust Investment Services, Inc. Specifically, on October 3, 2007, a customer filed an investment related written complaint involving Dover’s conduct, in which the customer requested $34,000.00 in damages based upon allegations that Dover effected excessive and unauthorized mutual fund trades in the customer’s account, and made investment based misrepresentations to the customer.
Subsequently, on December 27, 2010, a customer was awarded $230,125.00 in damages according to an investment related arbitration claim regarding Dover’s activities, based upon allegations that Dover negligently managed the customer’s investment portfolio, breached his fiduciary and contractual duties, made misrepresentations to the customer, and committed fraud in reference to the customer’s collateralized debt obligation transactions.
Between September 29, 2011, and March 11, 2011, four customer initiated investment related arbitration claims regarding Dover’s conduct were resolved for a total of $380,000.00 in damages based upon allegations that Dover made misrepresentations and unsuitable investment recommendations to the customers concerning collateralized debt obligations. Further, on February 16, 2012, a customer initiated investment related arbitration claim involving Dover’s activities was resolved for $92,000.00 in damages based upon allegations that Dover omitted investment risks of a private placement at the time in which the customer’s transaction was effected.
Since November 9, 2016, Dover has been associated with Moor & Cabot, Inc.
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