Joseph Fedorko Jr, (CRD #: 2007317) a broker registered with Laidlaw & Company (UK) Ltd., is facing customer allegations that he churned an account, made unauthorized trades, and made unsuitable investment recommendations, according to his BrokerCheck record accessed on August 24, 2020. In his 30-year career, 18 disclosures have been added to his account.
On May 22, 2020, a client alleged Joseph Fedorko Jr. had engaged in account churning. The client further alleges that he executed unauthorized trades and made unsuitable investment recommendations.
What is account churning? In an effort to generate commissions, unscrupulous brokers will perform an excessive number of investment transactions. These transactions are performed solely to generate more payments for the broker and do not further the client’s financial interests.
On May 15, 2018, a client alleged Joseph Fedorko Jr. churned his account and made unauthorized and unsuitable trades. The client sought $342,000; the dispute settled for $125,000.
- There are three other disclosures related to Joseph Fedorko Jr.’s unsuitable investment recommendations; they were collectively resolved $301,000.
- There are two client allegations involving Mr Fedorko’s breach of fiduciary duty and negligence; they were resolved for a total of $240,000.
On May 13, 2011, a client alleged that Joseph Fedorko Jr. engaged in excessive and unsuitable trading. The client sought $500,000; the dispute resolved for $490,000.
On May 16, 2010, a client alleged Joseph Fedorko Jr. had engaged in excessive and unsuitable trading, in addition to utilizing excessive margin. The client sought $1,200,000; the complaint resolved for $400,000.
On May 13, 1998, clients alleged that Mr. Fedorko misrepresented the investments in their account. The dispute settled for $30,000.
On December 9, 1996, a client alleged that Joseph Fedorko Jr. breached his fiduciary duty and omitted facts. The client sought $10,000 in damages and the matter went into arbitration. FINRA granted damages of $10,000.
Joseph Fedorko Jr. has passed the Series 63 Uniform Securities Agent State Law Examination, the Securities Industry Essentials Examination, the Series 7 General Securities Representative Examination, and the Series 24 General Securities Principal Examination. He is registered as a broker in California, Connecticut, Delaware, D.C., Florida, Georgia, Hawaii, Illinois, Indiana, Iowa, Kentucky, Maryland, Massachusetts, Michigan, Minnesota, Nevada, New Jersey, New York, North Carolina, Ohio, Pennsylvania, Rhode Island, South Carolina, Texas, Virginia, and Washington.
In his 30 years of experience, Mr. Fedorko has worked in the following firms:
- Oppenheimer & Co. Incorporated (CRD #: 249)
- Josephthal & Co. Incorporated (CRD #: 3227)
- Gruntal & Co. LLC (CRD #: 372)
- Rickel & Associates, Incorporated (CRD #: 7839)
- South Richmond Securities, Incorporated (CRD #: 14913)
If Joseph Fedorko, Jr. was your broker and you have questions about your investments, don’t hesitate to contact the securities attorneys of Fitapelli Kurta. Call (877) 238-4175 or email firstname.lastname@example.org for your free case consultation with a securities attorney.