Harold Couglar Barred From Trading

Harold F. Couglar (CRD #1193367, San Diego, California) who was a registered representative of Montage Securities, LLC, consented to being barred by the Financial Industry Regulatory Authority (“FINRA”) from acting as a broker or associating with FINRA member broker-dealer firms pursuant to a Letter of Acceptance, Waiver and Consent (“AWC”) #2017052715901 that was executed on May 21, 2018. Harold Couglar was found liable for the failure to disclose outside securities accounts and outside business activities.

Montage Securities Broker Harold Couglar Barred by FINRA

The AWC disclosed that from 1996 to 2003, and again from 2005 to 2016, when Couglar was employed with Montage Securities, LLC, CBIZ Financial Solutions, Inc. and Linsco/Private Ledger Corp., he executed securities trades on a discretionary basis in 87 investment accounts owned by 50 individuals at two outside FINRA member firms.
The AWC stated that while employed with Montage, Couglar was paid $102,956 by the investors who owned the accounts at the other FINRA member firms. He apparently placed 2,800 trades containing a total value of at least $30 million between March 28, 2012 and December 13, 2016. However, Couglar failed to inform his employers about the investors’ outside accounts and his trading activities. He also failed to inform the other FINRA member firms about his activities.
The AWC also disclosed that in five circumstances, Couglar completed compliance questionnaires for Montage where he falsely attested to not having any discretionary power over any outside accounts that belonged to non-family members. FINRA Department of Enforcement stated that Couglar committed a violation of NASD Rules 3050(c), Rule 2110 and FINRA Rule 2010.
FINRA also stated in the AWC that during the period of March 2012 to December 2016, Couglar prepared 18 individuals’ tax returns. According to the AWC, those individuals did not have accounts with Montage. Couglar apparently failed to disclose his tax preparation services to Montage. He was reportedly paid $27,255 for preparing the tax returns. The AWC stated that in completing Montage’s compliance questionnaires, Couglar falsely stated that he disclosed all outside business activities. FINRA found that Couglar committed violations of FINRA Rules 3270 and 2010.

Couglar was employed with Linsco/Private Ledger Corp. from October 19, 1983 to October 31, 2003. He was then employed with CBIZ Financial Solutions, Inc. from July 22, 2005 to March 30, 2012. Couglar was employed with Montage Securities, LLC from March 29, 2012 to January 3, 2017. Montage discharged Couglar for engaging the outside activities discussed in the AWC.
Have you experienced losses from Harold F. Couglar or another registered representative who traded in your account without authorization? If so, contact Soreide Law Group at (888) 760-6552 and speak with an experienced attorney about the possibility of recovering your investment losses. Soreide Law Group represents clients nationwide and only charges a fee upon recovery of investment losses.