Terry Au of New York New York a stockbroker formerly employed by WestPark Capital Inc. has been identified in a customer initiated investment related arbitration claim where the customer sought $125,000.00 in damages founded on accusations that a fiduciary duty that was owed to the customer was breached by Au in regard to the customer’s private placement purchases while Au was employed by WestPark Capital. Financial Industry Regulatory Authority (FINRA) Arbitration No. 19-02666 (Sept. 11, 2019).
According to the claim, misrepresentations had been made concerning the customer’s investments in options, equities and securities purchases through a private placement offering. The claim also alleges that the customer’s losses were attributed to high commissions, active trading and failed options.
This is not the first time that Au has been subject of an investor dispute in which his sales practices at WestPark Capital have been questioned. FINRA Public Disclosure reveals that another customer initiated investment related arbitration claim in reference to Au’s conduct was settled to resolve accusations that unauthorized stock trades were effected in the WestPark Capital customer’s account. FINRA Arbitration No. 18-01089 (Aug. 7, 2018).
Au’s registration with WestPark Capital has been terminated as of August 27, 2019. Since August 26, 2019, he has been associated with Spartan Capital Securities.