Robert Meyer (CRD #: 3074785), a broker registered with Monmouth Capital Management LLC, has agreed to a three-month suspension and a suspension from the Financial Industry Regulatory Authority (FINRA), according to his BrokerCheck record, accessed on October 19, 2020. This is the latest in a series of regulatory actions that investors should know about.
On September 25, 2020, Robert Meyer entered into an Acceptance, Waiver & Consent (AWC) agreement with FINRA, in which he consented to the findings that he made unsuitable investment recommendations that resulted in collective losses of $53,183 for clients and $25,030 in commissions for himself. He consented to a civil fine of $7,500, a restitution fee of $25,030, and a suspension of three months. Robert Meyer also agreed to complete 20 hours of continuing education concerning FINRA’s suitability rule. You can read a copy of the AWC here.
On July 12, 2016, the State of New Jersey Department of Banking and Insurance alleged that Mr. Meyer failed to notify the department within 30 days of an administrative action taken against him by the State of New Jersey Bureau of Securities. Robert Meyer consented to a fine of $2,000.
On September 18, 2014, the New Jersey Bureau of Securities alleged that Robert Meyer acted as an unregistered agent by conducting securities business in New Jersey while not registered with the bureau. Mr. Meyer consented to a $5,000 fine.
On May 15, 2013, the State of Montana fined Robert Meyer $7,500 following allegations that he failed to comply with a heightened supervision agreement with the Montana Commissioner of Securities regarding salesperson Joseph Biondolillo.
On June 4, 2009, Robert Meyer entered into an AWC agreement with FINRA in which he consented to the findings that his firm failed to adequately monitor and enforce a special supervisory agreement between the firm and the branch office. This required independent verification of all initial orders for new customer accounts due to the high number of trade cancellations. Mr. Meyer consented to a $5,000 fine and a one-month suspension. You can see a copy of the AWC here.
On January 9, 2006, a client alleged that Robert Meyer executed excessive trades and made unsuitable investment recommendations. The client sought $9,394; the dispute settled for $7,679.
On June 8, 2004, Robert Meyer entered into an AWC with the National Association of Securities Dealers (NASD), following allegations that he purchased shares of stock in customer accounts without their consent. Mr. Meyer consented to a fine of $7,500 and a 30-day suspension.
Robert Meyer has passed the Series 65 Uniform Investment Adviser Law Examination, the Series 63 Uniform Securities Agent State Law Examination, the Securities Industry Essentials Examination, the Series 7 General Securities Representative Examination, the Series 28 Introducing Broker/Dealer Financial Operations Principal Examination, and the Series 24 General Securities Principal Examination. He is a registered broker and investment adviser in New Jersey.
In addition to his registration with Monmouth Capital Management LLC, Robert Meyer is also a registered investment adviser with Monmouth Advisory Services LLC (CRD #: 298603). During his 18 years in the securities industry, Mr. Meyer has also worked for the following firms:
- Woodstock Financial Group, Inc. (CRD #: 38095)
- Chelsea Financial Services (CRD #: 47770)
- VFinance Investments, Inc. (CRD #: 44962)
- J.P. Turner & Company LLC (CRD #: 43177)
- Grayson Financial LLC (CRD #: 11764)
If Robert Meyer 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.