Public records provided by the Financial Industry Regulatory Authority (FINRA) and accessed on August 17, 2018 indicate that former Massachusetts-based Moors & Cabot broker/adviser Robert Clark, who has received customer disputes and regulatory sanctions, was recently terminated from his former employer in connection to alleged rule violations and is currently not affiliated with any broker-dealer firm. Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Clark (CRD# 810261).
Robert Clark has spent 42 years in the securities industry and was most recently registered with Moors & Cabot in Boston, Massachusetts (2013-2018). Previous registrations include Morgan Stanley in Boston, Massachusetts (2009-2013); Morgan Stanley & Company in Boston, Massachusetts (2007-2009); Morgan Stanley DW in Boston, Massachusetts (1997-2007); Cowen & Company in New York, New York (1995-1997); Donaldson Lufkin Jenrette Securities Corporation in Jersey City, New Jersey (1994-1995); SG Warburg & Company in New York, New York (1993-1994); CS First Boston Corporation in New York, New York (1991-1993); Morgan Stanley & Company in New York, New York (1989-1991); Bear Stearns & Company (1985-1987); EF Hutton & Company (1979-1985); Drexel Burnham Lambert (1978-1979); Bache Halsey Stuart Shields (1977-1978); Bache Halsey Stuart (1976-1977); and Bache & Company (1975-1976). He has passed six securities industry examinations: Series 65 (Uniform Investment Adviser Law Examination), which he obtained on January 17, 1996; Series 63 (Uniform Securities Agent State Law Examination), which he obtained on June 10, 1980; Series 31 (Futures Managed Funds Examination), which he obtained on December 9, 1999; Series 7 (General Securities Representative Examination), which he obtained on July 19, 1975; Series 8 (General Securities Sales Supervisor Examination [Options Module & General Module]), which he obtained on May 13, 1998; and Series 4 (Registered Options Principal Examination), which he obtained on May 17, 1984. He is currently not registered with any state or firm.
According to his BrokerCheck report, he has received three customer complaints and two regulatory sanctions, and he was discharged from two former employers in connection to alleged rule violations.
In July 2018 he was discharged from his position at Moors & Cabot in connection to allegations he failed to obtain prior approval for an “alleged loan” he received from a customer, in violation of firm policies.
In 2013 he was sanctioned by the State of Michigan in connection to a prior order issued by the State of Massachusetts alleging he engaged in “dishonest or unethical practices in the securities and investment business.” His registration was subsequently denied.
In 2013 the State of Massachusetts sanctioned him in connection to findings that he was the subject of four customer complaints alleging, among other things, unauthorized trading and breach of fiduciary duty, as well as his previous terminated from Morgan Stanley Smith Barney “after admitting to using discretion in the accounts of several customers without having authorization.” He was issued a number of undertakings, including a prohibition from performing principal or supervisory duties while associated with MCI and a prohibition from possessing or exercising discretionary authority in the handling of customer accounts.
If you or someone you know has a complaint regarding Robert Clark, call Fitapelli Kurta at 877-238-4175 for a free consultation. You may be able to recover lost funds. Fitapelli Kurta accepts all cases on contingency: we only get paid if and when you collect money. You may have a limited window to file your complaint, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.