Securities Arbitration Investment Fraud Lawyers » Investment and Regulatory News » FINRA Sanctions Aegis Capital Principal For Failure To Supervise Structured Product Sales

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Teresa Watkins Douberly (also known as Sharlene Douberly, Teresa S. Watkins, and Teresa Sharlene Watkins), of Fort Lauderdale, Florida, a Registered Principal of with Aegis Capital Corp., has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any principal capacity because Douberly failed to supervise certain registered representatives. Letter of Acceptance, Waiver, and Consent No. 2020066723301 (October 26, 2022).

According to the AWC, during the time that she was associated with Aegis Capital Corp., Douberly failed to reasonably supervise two registered representatives that made recommendations of variable interest rate structured products to customers.

From July 2017 to December 2018, Douberly supervised two representatives that recommended customers to invest in risky variable interest rate structured products. FINRA states that the recommendations were unsuitable and that customers suffered significant losses due to Douberly’s failure to supervise. Douberly violated FINRA Rules 2010 and 3110.

Douberly was associated with Aegis Capital Corp. in Boca Raton, FL, as a stockbroker from May of 2016 to June of 2021, and was associated with Sagepoint Financial Inc. in Fort Lauderdale, FL, as a stockbroker from June of 2021 to June of 2022.