Cambridge Investment Research is the firm named in an oil and gas dispute on Eric Delaney's BrokerCheck report that settled on October 20, 2026. Delaney (CRD 2886715) is the broker on the disclosure. BrokerCheck lists the product as an oil and gas program.
The claimants filed with FINRA on February 27, 2025, under docket number 25-00359. Their statement of claim alleged that an investment recommendation had the purpose of generating high commissions and fees. It also alleged that the recommendation deprived the claimants of the ability to generate reasonable returns.
The matter settled for $139,804, BrokerCheck shows. Eric Delaney's statement on the disclosure says the respondent "denies all allegations of wrongdoing." It adds that the broker-dealer settled while neither admitting nor denying the allegations.
An oil and gas program pools investor money to drill wells or buy interests in them. Investors usually receive distributions from production, which rise and fall with output and energy prices. Most programs are illiquid, with no ready market before the program winds down.
These programs also tend to carry high upfront commissions and fees. Some call for added capital if drilling costs run over budget. That is why a claim over one often asks whether a simpler holding would have met the customer's goals.
In our experience, the subscription documents and the customer's financial profile matter as much as the product itself. On Eric Delaney's report, the product field is where BrokerCheck records the program type.
BrokerCheck reports for Kurt Douglas Cambier (CRD 1392482) and James Michael Fay (CRD 2083701) list the same case number as Eric Delaney's disclosure.
A customer can name more than one broker in a single arbitration. When that happens, the claim shows up on each named broker's BrokerCheck report under the same docket. Each broker can also add a separate statement, so the comments can differ from one report to the next.
Brokerage firms have a duty to supervise the brokers who work for them. If Eric Delaney handled your account and you have questions, Soreide Law Group can go over it with you. Call (888) 760-6552 or contact us online. Because these claims go to FINRA arbitration rather than a local court, we handle them for investors nationwide. We work on a contingency fee basis. Here is how FINRA arbitration works.
This post summarizes public FINRA records, including BrokerCheck, as of November 11, 2026. Allegations in customer complaints and arbitrations are claims, not findings. A settlement is also not an admission of wrongdoing. FINRA may also update or correct these records after that date.
Cambridge Investment Research is the firm named in an oil and gas dispute on Eric Delaney's BrokerCheck report that settled on October 20, 2026. Delaney (CRD 2886715) is the broker on the disclosure. BrokerCheck lists the product as an oil and gas program.
A settlement from October 2026 is the newest entry on Fred Chen's BrokerCheck report, and a separate customer claim remains pending. Chen (CRD 5766069) is the broker on every disclosure, and each one names Emerson Equity as the firm. The pending claim is an unproven allegation, and no arbitrator has ruled on it.
Curtis Kroll (CRD 6487481) appears in a pending FINRA arbitration that seeks more than $10,000,000, according to a disclosure filed July 8, 2026. The disclosure names Wells Fargo Advisors as the firm. No arbitrator has ruled, and the allegations remain unproven.
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