Financial Industry Regulatory Authority (FINRA) BrokerCheck shows disclosures about securities broker Timothy Neil Tremblay [CRD: 1201542, Santa Barbara, California]. Tremblay has worked for Centaurus Financial Inc. since May 16, 2003, where he worked as both a securities broker and financial advisor. A recent arbitration claim filed about Tremblay involves allegations of unsuitable recommendations of real estate securities. Keep reading to learn more about Tremblay’s involvement in client disputes and regulatory actions.
On August 15, 2024, a client of Centaurus Financial Inc. filed a dispute, seeking $523,000 in damages, alleging that Tremblay made poor recommendations in corporate debt and real estate securities. This matter is currently pending resolution.
On January 9, 2024, a client of Centaurus Financial Inc. filed FINRA Arbitration No. 24-00025, accusing Timothy Tremblay of concentrating their accounts in illiquid and risky real estate securities. The client alleged $500,000 in losses. This matter is currently pending a resolution.
On August 24, 2023, the Securities and Exchange Commission (SEC) initiated an enforcement action (SEC Case No. C-08829) about Tremblay, accusing him of violating Regulation Best Interest, under the Securities Exchange Act of 1934. The SEC alleged that Tremblay failed to act in the best interests of his clients when making investment recommendations. The case is still pending a resolution.
Also, a client filed FINRA Arbitration No. 22-02218 in September 2022, requesting compensation based on allegations of unsuitable advice. That matter settled for $65,000 on June 24, 2024.
Additionally, another client asked for $800,000 in damages on July 17, 2023, accusing Tremblay of making unsuitable recommendations in real estate investment trusts (REITs), equities, and corporate bonds. FINRA Arbitration No. 23-01527.
Also, an investor dispute resulted in a $119,375.55 settlement in 2013, based on allegations that Tremblay recommended unsuitable real estate securities, mutual funds, and fixed annuities while working at Centaurus Financial Inc. FINRA Arbitration No. 13-01324.
On June 22, 2015, another complaint about Tremblay settled for $4,300. The client alleged that Tremblay made misrepresentations in connection with the sale of life insurance products.
For more information, contact Soreide Law Group online or at (888) 760-6552 to speak with a securities attorney. Tremblay and Centaurus Financial Inc. deny accusations of sales practice violations. Soreide Law Group has experience representing investors throughout the country. The firm handles cases on a contingency basis.
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