jury ruled against broker, DONALD J. FOWLER (CRD#: 4989632), and in favor of the SEC recently in a Manhattan federal court. Fowler was charged two years ago with excessive trading, while registered with the J.D. Nicholas & Associates of Syosset, N.Y.
Allegedly, DONALD J. FOWLER engaged in an excessive trading scheme which was unsuitable for his clients for the purpose of generating commissions, according to the SEC. The SEC also alleged that Fowler failed to do due diligence to determine whether the trading would be profitable for the client. The alleged commissions Fowler charged would have required returns of 142% for his clients to break even, according to the SEC’s press release.
The SEC reported that the jury found DONALD J. FOWLER liable on all counts. The counts included violating federal anti-fraud provisions.
According to FINRA’s BrokerCheck, available to the public on FINRA’s website, DONALD J. FOWLER has 12 Disclosures on his CRD report. Of the 12 Disclosures, 11 are Customer Disputes with 10 settling in favor of the client with settlement amounts as high as $400,000 with some of the allegations listed as “Churning or Excessive Activity, Unauthorized Trading, Breach of Fiduciary Duty, Negligent Failure to Supervise, and Common Law Fraud.” Fowler has been registered in the securities industry for 13 years and has been listed with 3 firms. He is currently registered with the following firm since 11/21/2014:
WORDEN CAPITAL MANAGEMENT LLC
200 Sunrise Highway 3rd Floor
Rockville Ctre., NY 11570
He was listed previously with:
01/17/2007 – 11/24/2014 J.D. NICHOLAS & ASSOCIATES, INC – SYOSSET, NY
If you have suffered financial losses due to the actions or recommendations of broker, DONALD J. FOWLER, formerly with J.D. Nicholas & Associates of Syosset, N.Y., and currently registered with Worden Capital Management of Rockville Center, NY, contact an experienced securities lawyer at Soreide Law Group at no cost regarding the possible recovery of your investment losses through a FINRA arbitration at: 888-760-6552.
Soreide Law Group represents our clients nationally before FINRA on a contingency fee basis.