Kentucky Regulator Sanctions Robert Clarke

Investor Alert! The Financial Industry Regulatory Authority ("FINRA") reports alarming information in regard to securities broker Robert Steven Clarke [CRD#: 735940, Austin, Texas]. Not only has Kentucky Department of Financial Institutions sanctioned him for unauthorized trading, but 5 or more investors raised serious concerns about the securities broker, who joined NatAlliance Securities on July 19, 2017. In sum, these disclosures suggest that Clarke made unauthorized or unsuitable transactions that caused his clients to experience losses. Read on to learn more concerning the allegations against Clarke.

Kentucky Department of Financial Institutions Sanctions Clarke For Unauthorized Trading

Evidently, on May 8, 2019, Kentucky Department of Financial Institutions initiated Agency Action #: 2019-AH-00031B against Robert Clarke. Mainly, Kentucky Department of Financial Institutions contended that Clarke bought and sold securities as an unregistered broker-dealer agent in Kentucky. Apparently, on March 1, 2020, the Kentucky Department of Financial Institutions issued him a $3,000 fine and suspended him from March 1, 2020 to August 1, 2020.

Ross Sinclaire Associates Investor Indicates That Robert Clarke Sold Bad Investments

Apparently, on December 24, 2018, a Ross Sinclaire Associates client filed FINRA Arbitration #: 18-04292 about Robert Clarke. Particularly, the client contended that Clarke sold unsuitable mortgage backed securities. It seems that these investments were inappropriate when considering the client’s investment profile. Consequently, on April 23, 2019, Ross Sinclaire Associates settled this client’s dispute by paying the client $30,000.

Robert Clarke Allegedly Misrepresents CMOs To Ross Sinclaire Associates Client

Evidently, a client of Ross Sinclaire Associates contested Robert Clarke’s actions in FINRA Arbitration #: 17-02253 filed August 30, 2017. Supposedly, Clarke falsified information or otherwise failed to accurately represent information in connection with the client's CMO purchases. It seems that the CMOs which Clarke sold caused the client to sustain losses. Evidently, Ross Sinclaire Associates settled the client’s dispute on November 14, 2018 through a payment of $125,000.

Client Suggests That Robert Clarke Sold Unsuitable Investments

Apparently, a client of Ross Sinclaire Associates contested Robert Clarke’s securities recommendations or sales through bringing FINRA Arbitration #: 16-00537 on December 14, 2016. Allegedly, Clarke’s collateralized mortgage obligations recommendations were unsuitable for the client. Also, the client alleged that the broker misrepresented information in connection with the client’s securities transactions. As a result, Ross Sinclaire Associates agreed to resolve the matter on December 14, 2016 through paying the client a total of $120,000.

Robert Clarke Allegedly Breaches Fiduciary Duty To Ross Sinclaire Associates Client

Notably, on  April 30, 2014, a Ross Sinclaire Associates client filed FINRA Arbitration #: 14-01250 concerning Robert Clarke. Apparently, the client asserted that the securities broker sold bad CMOs and negligently transferred the client’s accounts. Not only that, but Clarke purportedly breached his fiduciary responsibility to the client. Moreover, Ross Sinclaire Associates seemingly failed to supervise Clarke. As a result, on December 14, 2015, Ross Sinclaire Associates resolved this issue through compensating the client $77,205.

Losses From Securities Broker Robert Clarke?

Have you experienced losses by investing with Robert Clarke? If so, reach out to Soreide Law Group at (888) 760-6552 and speak with experienced counsel concerning a possible recovery of your investment losses. Soreide Law Group represents clients on a contingency fee basis and advances all costs. The law firm has recovered millions of dollars for clients who have incurred losses due to misconduct of securities brokers like Clarke.