FINRA Bars Charles Euler For Refusing To Testify
Investor alert! Financial Industry Regulatory Authority (“FINRA”) BrokerCheck reports 8 disclosures on the record of financial advisor Charles J. Euler (CRD#: 202696, Radnor, Pennsylvania). Notably, the securities broker is highlighted in at least seven disputes alleging sales practice violations. On top of that, FINRA barred Euler because he allegedly refused questioning by FINRA. Let’s take a look at these disclosures.
FINRA Bars Charles Euler For Refusing To Testify About Whether He Made Unsuitable Recommendations
It appears that Euler and FINRA agreed that Charles Euler would be barred effective April 13, 2020 to resolve allegations that Euler refused to comply with its directives in an investigation in violation of FINRA rules. Evidently, the financial industry watchdog asked Euler to testify but Euler refused. For this reason, Euler cannot be a securities broker for FINRA member firms.
Janney Client Indicates That Euler Sold Unsuitable Equities
Evidently, a client of Janney Montgomery Scott took aim at Charles Euler through a June 2018 complaint. The main issue seemed to involve suitability. In fact, the client alleged that Euler recommended unsuitable securities including OTC equities. It seems that the client’s portfolio was invested too heavily in these investments. For losses sustained on these securities, the client demanded compensation. Evidently, Janney Montgomery Scott settled the matter through making a $45,000 payment to the client.
Charles Euler Supposedly Gave Bad Advice To Client
Additionally, on October 30, 2017, a Janney Montgomery Scott client brought a dispute about Charles Euler. First of all, the client indicated that Euler advised the client to invest in risky equities. These purchases resulted in an unbalanced allocation of securities in the client’s account, the client contended. It appears that Janney Montgomery Scott settled this matter through making a $150,000 payment to the client in October 2017.
Janney Montgomery Scott Client Alleges Misrepresentation By Euler
Moreover, Euler’s sales practices are the focus of Janney Montgomery Scott clients’ 2016 lawsuit. Specifically, as financial advisor, Euler supposedly misrepresented and omitted information regarding stocks that these clients purchased. Like other investors alleged, these clients also indicated that Euler made unauthorized and unsuitable trades. It appears that this matter settled for $250,000
Losses From Charles Euler?
Apparently, Euler denies allegations of his sales practice violations. Have you experienced losses by investing with Euler? If so, reach out to Soreide Law Group at (888) 760-6552 and speak with experienced counsel concerning a possible recovery of your investment losses. Soreide Law Group represents clients on a contingency fee basis and advances all costs. The law firm has recovered millions for clients who have sustained losses due to misconduct of securities firms and financial advisors.