The Financial Industry Regulatory Authority (FINRA) licenses and regulates the stock brokerage industry. It requires stock brokerage firms and their stock brokers to be qualified, registered, and approved by the agency before they may offer and sell securities to the public. FINRA also requires its registrants to immediately report regulatory events, such as suspensions, fines, and customer complaints, against the firm and broker. FINRA maintains a database of investor complaints and disciplinary and employment history for registered representatives and publishes some of this information on its BrokerCheck website, www.brokercheck.finra.org. The FINRA BrokerCheck is purportedly useful for predicting future broker misconduct. Unfortunately, not all customer complaints are accurately or completely reported on the website. We are seeking investors with information about Cabot Lodge Securities broker Robert R. Tweed to determine whether the reported information on the FINRA BrokerCheck website is accurate and complete.
FINRA reports that Mr. Tweed has been registered in the securities industry since 1993. Over the years, he has been registered with 11 brokerage firms: Securities America Inc., Wealth Resource Capital Corporation, Laguna Securities Inc., Intersecurities Inc., National Planning Corporation, United Securities Alliance Inc., Capwest Securities Inc., MAM Securities LLC, Concorde Investment Services LLC and, most recently, Cabot Lodge Securities LLC. It appears that he was involuntarily terminated by one of his employers. During that period, the FINRA BrokerCheck Report indicates that Mr. Tweed has been the subject of 11 Customer Disputes, 4 of which were pending as of August 24, 2016.
One of the customer disputes resulted is an arbitration award against Mr. Tweed and his employer Capwest Securities Inc. in the amount of $338,000. There were 3 customer disputes with allegations of fraud, breach of fiduciary duty, violation of FINRA rules, and failure to supervise that have supposedly settled for amounts ranging from $10,000 to $52,000. Three of the customer disputes were rejected by the brokerage firm and supposedly no further action was taken by the customer. There were pending arbitrations reportedly filed against Mr. Tweed and his employers for a variety of alleged misconduct while he was employed at National Planning Corporation, Capwest Securities Inc. and Concourse Investment Services LLC. We believe that Mr. Tweed's employers may have not accurately or completely reported all of the Customer Disputes involving Mr. Tweed and request that all investors with complaints against contact our office immediately.
The most important of investors' rights is the right to be informed! We intend to notify FINRA of any and all unreported or inaccurate customer complaints against this firm and/or broker. This blog post is by the Law Offices of Robert Wayne Pearce, P.A., located in Boca Raton, Florida. For over 35 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 firstname.lastname@example.org for answers to any of your questions about this blog post and/or any related matter.