On September 21, 2018 an Officer of Hearing Officers (OHO) decision became final against David Jonathan Bolton in which he was barred from association with any FINRA member in all capacities for violating FINRA Rules 4511 and 2010 and FINRA Rules 2111 and 2010.
Bolton joined Thurston, Springer, Miller, Herd & Titak, Inc. (“Thurston”) in November 2014 until February 2016 when he handed in his resignation. The findings stated that after Bolton resigned, Thurston filed a Uniform Termination for Securities Industry Registration. According to FINRA, Bolton engaged in unsuitable short-term trading in Class A mutual fund shares in two customers’ accounts causing them to pay $24,747 in unnecessary sales charges. Bolton’s tradings were allegedly unsuitable because the short-term nature of the trades conflicted with the customers’ longer-term investment horizon. In addition, Bolton allegedly caused his firm to maintain inaccurate books by mismarking or causing others to mismark as unsolicited electronic order tickets that he had solicited. FINRA also stated that Bolton took the files of his customers with him when he moved from firm to firm and destroyed them.
Stockbrokers have been known to engage in many practices that may violate industry and firm rules, practices, and procedures. In order to protect investors from stockbroker misconduct, FINRA rules require brokerage firms to establish and implement a supervisory system. The implementation of these industry rules requires supervisors to monitor their employees to ensure compliance with federal and state securities laws, securities industry rules and regulations, and the brokerage firm’s own policies and procedures. If broker-dealers and/or their supervisors fail to establish and implement these protective measures, they may be liable to investors for damages which flow from the broker’s misconduct. Therefore, investors who have suffered losses stemming from unsuitable recommendations, unsuitable trading and/or other misconduct by their broker can file claims to recover damages against broker-dealers, like Thurston, Springer, Miller, Herd & Titak, Inc which should consistently oversee its brokers’ activities in order to prevent the above-described misconduct.
Have you suffered losses in your Thurston, Springer, Miller, Herd & Titak account due to unsuitable trading and/or unsuitable recommendations by your broker? Was David Jonathan Bolton your stockbroker? If so, call Robert Pearce at the Law Offices of Robert Wayne Pearce, P.A. for a free consultation. Mr. Pearce is accepting clients with valid claims against Thurston, Springer, Miller, Herd & Titak stockbrokers who may have engaged in broker misconduct and caused investors’ losses.
The most important of investors’ rights is the right to be informed! This Investors’ Rights blog post is by the Law Offices of Robert Wayne Pearce, P.A., located in Boca Raton, Florida. For over 40 years, Attorney Pearce has tried, arbitrated, and mediated hundreds of disputes involving complex securities, commodities and investment law issues. The lawyers at our law firm are devoted to protecting investors’ rights throughout the United States and internationally! Please visit our website, www.secatty.com, post a comment, call (800) 732-2889, or email Mr. Pearce at email@example.com for answers to any of your questions about this blog post and/or any related matter.