May 6, 2024

Harry Buckman Sanctioned, Involved In Client Complaints

Evidently, FINRA issued an Acceptance, Waiver Consent (AWC) on April 25, 2019, sanctioning Harry Buckman for supervisory failures. Notably, FINRA found that Buckman failed to adequately oversee two former registered representatives at his firm, resulting in unsuitable and excessive trading in multiple investors' accounts. Because of this, Buckman faced civil fine of $20,000, a suspension from all principal capacities for three months starting May 20, 2019, and ending August 19, 2019.

Supposedly, Buckman, as one of the owners of the brokerage firm, was responsible for reviewing the suitability of the investments recommended by the representatives. The lack of effective supervision allowed one representative to execute excessive trades, particularly in Unit Investment Trusts (UITs) and other long-term investment products, which were not suitable given their intended long-term holding period and high upfront costs. This resulted in about $210,000 in commissions and approximately $163,000 in losses across four investors' accounts.

Additionally, another representative engaged in unsuitable trading in several accounts, leading to further financial losses and client harm. Buckman’s failure to intervene when there were apparent red flags resulted in damages to the affected investors, according to FINRA.

Mayhill Agency LLC Investor Accused Harry Buckman Of Unsuitable Recommendations

Specifically, on July 25, 2016, a Mayhill Agency LLC client filed a complaint about Harry Buckman. Evidently, the client alleged that Buckman made unsuitable recommendations. Because of this, the client allegedly sustained damages on corporate bonds. Consequently, the client requested compensation from Mayhill Agency LLC or Buckman.

Buckman Disclosed Unauthorized Trading Allegations By Buckman Buckman Reid Inc. Client.

Particularly, a client of Buckman Buckman Reid Inc. contested Harry Buckman’s sales practices by filing FINRA Arbitration No. 02-05054. Allegedly, Buckman engaged in unauthorized trading, churning, and unsuitable trading. Therefore, FINRA Arbitrators issued an Award dated October 23, 2003, compelling Buckman Buckman Reid Inc. or Buckman to compensate the client in the amount of $75,000.

Did You Incur Losses Because Of Securities Broker Harry Buckman?

Did you suffer losses because of Harry Buckman? If so, reach out to Soreide Law Group online or at (888) 760-6552 and speak with a securities lawyer about a possible recovery of your investment losses. Soreide Law Group has recovered losses for investors across the United States, operates on a contingency fee basis, and advances all costs. Buckman and the brokerage firms he worked with deny accusations of sales practice violations.

Recent Posts

July 23, 2024
Christopher McCoy In Calton Client Complaints

Investors potentially sustained damages through securities broker Christopher Joseph McCoy [CRD: 4113108, Montclair, New Jersey], according to disclosures on Financial Industry Regulatory Authority (FINRA) BrokerCheck. Not only that, but FINRA sanctioned him for unauthorized trading. Evidently, Christopher McCoy worked for Calton Associates Inc. from August 31, 2012, to December 20, 2022. Below, you’ll find a […]

July 22, 2024
Brian Freeman In Securian Clients’ Complaints

Investors possibly experienced losses because of securities broker Brian Lee Freeman [CRD: 1379227, Newport Beach, California], according to disclosures on Financial Industry Regulatory Authority (FINRA) BrokerCheck. Evidently, Brian Freeman worked for Securian Financial Services Inc. from June 23, 1988, to August 10, 2023. Here’s an overview of Brian Freeman’s disclosures. Securian Financial Services Inc. Investor […]

July 22, 2024
Andrew Komarow Barred By SEC, FINRA

Multiple securities regulators have barred securities broker Andrew M. Komarow [CRD: 5838564, West Hartford, Connecticut], according to disclosures on Financial Industry Regulatory Authority (FINRA) BrokerCheck. Evidently, Andrew Komarow worked for LPL Financial LLC from April 26, 2016, to December 22, 2022, and for Royal Alliance Associates Inc. from December 13, 2022, to January 4, 2023. […]

Contact us Nationwide USA
2401 E. Atlantic Blvd., Suite 305, Pompano Beach, FL 33062
Helping clients recover money across the USA
Copyright © 2022 Soreide Law Group, PLLC  |  All Rights Reserved
linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram