William Richard Berkowitz of Pittsburg Pennsylvania a stockbroker currently registered with BPU Investment Management Inc. is the subject of a customer initiated investment related written complaint on January 9, 2017 where the customer sought $6,100.00 in damages based upon accusations that (1) Berkowitz executed the liquidation of the customer’s accounts without the customer’s permission and (2) Berkowitz failed to follow the customer’s directives for the oversight of the customer’s account.
Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that Berkowitz was also subject of a customer initiated investment related arbitration claim in which the customer was awarded $187,500.00 in damages based upon Berkowitz having been found liable on the customer’s claims including violation of New York Stock Exchange rules; violation of National Association of Securities Dealers (NASD) rules; violation of Pennsylvania’s Securities Act and Unfair Trade Practices and Consumer Protection Law; violation of Securities Acts of 1933 and 1934; suitability; omissions; misrepresentation; breach of fiduciary duty; negligence; breach of contract; supervisory failures; and fraud relating to the customer’s purchases of limited partnerships, corporations and limited liability companies through private offerings as well as investments in oil and gas, bonds, and stock. FINRA Arbitration No. 07-01864 (July 15, 2008).
FINRA Public Disclosure further reveals that Berkowitz was fined and suspended by NASD for overcharging customers in regard to the sales of equities in customer’s investment portfolios; conduct violative of MSRB Rule G-37 and NASD Rules 2440 and 2110. Case No. C9A970009 (May 9, 2017).
Berkowitz has been employed by BPU Investment Management Inc. since February 10, 1986.
