Broker Investigation: Charles A. Laverty

Broker-Investigation--Charles-A.-Laverty Charles A. Laverty (CRD#: 4875386) is a securities broker who was most recently based in Southern California.

Mr. Laverty is currently suspended from the securities industry. His most recent member firms include TCFC Wealth Management (2015-2015), Calton & Associates, Inc (2014-2015), and Oppenheimer & Co (2011-2014).

On April 25th, 2018, the Financial Industry Regulatory Authority (FINRA) filed a complaint against Charles A. Laverty. Investigators allege that Mr. Laverty borrowed more than $1.3 million from customers against the policies of his brokerage firms.

FINRA also alleges that Mr. Laverty repeatedly lied and provided false information in order to conceal the loan. To read the complaint in its entirety, please refer to Disciplinary Proceeding No. 2016050205901.

 

FINRA Complaint: Charles A. Laverty

FINRA alleges that Charles A. Laverty borrowed $1.3 million from an unnamed elderly couple in 2015, overlapping the period that he was employed at TCFC Wealth Management and at Calton & Associates. This loan was against the internal policy of both brokerage firms.

According to FINRA, Mr. Laverty falsely stated on annual compliance forms that he did not borrow any money from these customers. In addition, FINRA contends that Mr. Laverty lied to agency investigators by providing false answers to questions regarding accepting loans from customers while he was giving on-the-record testimony.

This conduct is a violation of several different industry regulations, including FINRA Rule 3240, which covers borrowing from customers, and FINRA Rule 8210, which requires that registered representatives provide truthful answers when giving on-the-record testimony. FINRA is seeking sanctions and fines against this broker. As of May of 2018, this case is still pending.

 

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