Raymond Clark Barred, Tied To Monmouth Capital Management Investor’s Churning Complaint

FINRA barred securities broker Raymond William Clark [CRD: 2865619, Red Bank, New Jersey], and one or more investors complained about him, based on public information on Financial Industry Regulatory Authority (FINRA) BrokerCheck. Clark worked for Garden State Securities Inc. from November 8, 2019, to March 24, 2021, Monmouth Capital Management LLC from March 23, 2021, to June 9, 2023, and Alexander Capital LP from June 12, 2023, to July 26, 2023. Investors should keep reading to find out more about Clark’s disclosures.

FINRA Sanctioned Clark For Failure To Testify About Churning And Unauthorized Trading Concerns

Specifically, on August 9, 2023, FINRA issued Case: 2022076459304 sanctioning Raymond Clark. Specifically, Clark was permanently barred in all capacities. Notably, FINRA alleged that Clark refused to appear for on-the-record testimony requested during an investigation.

According to FINRA, the regulator sought Clark’s testimony while reviewing his role in potential churning, excessive trading, and unauthorized trading of client accounts. The investigation also examined Clark’s supervision of other registered representatives, possible failures to safeguard non-public personal client information, and potential recordkeeping violations. Without admitting or denying the findings, Clark consented to the sanction through an Acceptance, Waiver and Consent, which became final on August 9, 2023.

Raymond Clark Disclosed Churning And Negligence Allegations By Monmouth Capital Management LLC Client

Notably, a client of Monmouth Capital Management LLC contested Raymond Clark’s sales practices by filing FINRA Arbitration No. 23-01268 on May 9, 2023. Allegedly, Clark engaged in churning, unauthorized trading, and negligence. It appears that Clark allegedly caused the client to incur damages involving stocks and over-the-counter equities. Consequently, the client seeks compensation from Monmouth Capital Management LLC or Clark in the amount of $509,371 in this ongoing matter.

Have You Made Investments Through Financial Advisor / Securities Broker Clark?

Did you suffer any investment-related losses because of Raymond Clark? If so, reach out to Soreide Law Group online or at (888) 760-6552 and talk to a securities attorney regarding a potential recovery of your investment losses. Soreide Law Group has recovered losses for investors throughout the US. Also, the firm works on a contingency fee basis and advances all costs. Clark and brokerage firms Clark worked for deny allegations of sales practice violations.