Capital Portfolio Management Financial Advisor, Charles “Chuck” Laubach, Suspended By FINRA For Alleged Unauthorized Trading
Charles Laubach a/k/a Chuck Laubach (CRD # 1097453) is a Financial Advisor at Capital Portfolio Management in Timonium, Maryland. Charles Laubach a/k/a Chuck Laubach has been in the securities industry since 1983 and previously worked at Chapin Davis and Ameriprise Financial Services.
According to publicy available records released by the Financial Industry Regulatory Authority (FINRA), in June 2019, FINRA sanctioned Charles Laubach a/k/a Chuck Laubach, suspending him for ten days. According to the sanction, “without admitting or denying the findings, Laubach consented to the sanctions and to the entry of findings that he effected discretionary transactions in the accounts of customers without obtaining prior written authorization from the customers, and without his member firm having accepted the accounts as discretionary.”
For a copy of the FINRA sanction, click https://www.finra.org/sites/default/files/fda_documents/2018057298401%20Charles%20L.%20Laubach%20CRD%201097453%20AWC%20jm.pdf
This is not the only regulatory infraction for Charles Laubach a/k/a Chuck Laubach. In October 2016, the Colorado Division of Securities restricted his license for “mismarking trade tickets and failing to follow written supervisory procedures.” This same alleged conduct of mismarking order tickets led to his termination by Chapin Davis investments.
Charles Laubach a/k/a Chuck Laubach has numerous customer complaints during his career, alleging sales practice misconduct, including the following:
- October 2012—”CUSTOMER ALLEGES UNAUTHORIZED TRADING.” The matter was settled for $20,000
- August 2005—” CUSTOMER ALLEGES THAT, BETWEEN 1997 AND 2003, FINANCIAL ADVISOR MADE UNSUITABLE INVESTMENT RECOMMENDATIONS, CHURNED HER ACCOUNTS AND MISAPPROPRIATED FUNDS IN HER ACCOUNTS. DAMAGES UNSPECIFIED. The matter was settled for $32,500
For a copy of Charles Laubach a/k/a Chuck Laubach’s BrokerCheck report, click https://brokercheck.finra.org/individual/summary/1097453
Financial advisors have a legal and regulatory obligation to recommend only suitable investments that are appropriate for their clients’ needs and objectives. Their employing brokerage firm has a legal and regulatory obligation to supervise the Financial Advisors’ sales practices and dealings with clients. To the extent any of these duties are breached, the customer may be entitled to a recovery of his or her investment losses.
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