FINRA Issues Suspension To Teresa Douberly

Soreide Law Group is investigating possible investor claims against securities broker Teresa Watkins Douberly (also known as Sharlene Douberly) (CRD: 2477566, Boca Raton, Florida). Evidently, FINRA sanctioned the securities broker, who worked for Aegis Capital Corporation. Allegedly, Douberly failed to supervise. Here is a brief summary of FINRA’s allegations against Douberly.

FINRA Suspends Teresa Douberly For Failure To Supervise

Evidently, on October 26, 2022, FINRA issued Acceptance, Waiver, and Consent No. 2020066723301 sanctioning Teresa Douberly for infractions. Specifically, Douberly was suspended as a securities principal and fined $5,000. Particularly, FINRA alleged that Douberly failed to supervise.

Without accepting or denying the conclusions, Douberly agreed to the penalties and the acknowledgement that she failed to adequately oversee recommendations to buy variable interest rate structured products (VRSPs). Supposedly, Douberly knew that two representatives suggested VRSPs, including steepeners, to clients. However, Douberly allegedly didn't take any action to verify if the recommendations were appropriate, such as assessing the clients' investment goals and risk tolerance or discussing the risks of VRSPs with the clients to ensure their understanding.

Douberly’s Failure To Review Suitability

Also, FINRA claimed that Douberly also didn't fill out a confirmation form confirming her review of the recommendations and their suitability based on the clients' risk tolerance and investment objectives. In reality, FINRA argues that the recommendations were unsuitable for the clients. This is because the recommendations went against investors' goals and risk tolerance. Notably, FINRA indicated that clients experienced significant actual losses as a result of their VRSP positions, even after accounting for the earnings they obtained from the investments.

Douberly Employment Information

• Douberly worked for Aegis Capital Corporation from May 23, 2016, to June 4, 2021.
  
• Douberly worked for Sagepoint Financial Inc. from June 16, 2021, to June 24, 2022.

Damages Resulting From Aegis Capital Corporation Securities Broker Teresa Douberly?

Have you incurred damages by investing with Teresa Douberly? If so, reach out to Soreide Law Group at (888) 760-6552 and talk with a securities lawyer about a possible recovery of your losses. Soreide Law Group, who has effectively recovered money for hundreds of investors across the United States, represents clients on a contingency fee basis and advances all costs. Douberly and investment firms Douberly worked for deny any allegations of sales practice violations.