- January 18, 2022
- JP Morgan Securities
Robert A. Douglass (CRD#: 4262487) is a dually registered Broker and Investment Advisor at Arkadios Capital in Atlanta, GA.
He entered the securities industry in 2000 and previously worked for J.P. Morgan Securities, LLC; Credit Suisse Securities (USA); and Goldman, Sachs & Co.
Current And Past Allegations Of Conduct Leading To Investment Loss
According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), in October 2021, Robert A. Douglass was discharged by J.P. Morgan Chase Bank, N.A. The allegation states, “Registered Rep was terminated for executing investment purchases without first obtaining the customer’s permission; and for obtaining a customer’s on-line login information to confirm the customer’s account balances. The RR states he did so at the insistence of the customer. No known customer harm at the time of filing.”
In addition, Robert A. Douglass has been the subject of one customer complaint, including one that remains pending, including the following:
- May 2021 – “Claimant, through Power of Attorney, alleges the registered rep recommended an unsuitable investment. Activity dates 2008-2021.” Damages of $900,000 are requested. The customer dispute remains pending.
For a copy of Robert A. Douglass’s FINRA BrokerCheck, click here.
We Help Investors Recover Investment Losses
FINRA regulations require that a customer’s written authorization is required before a broker-dealer can carry out transactions in the customer’s account. In addition, the broker-dealer’s member firm needs to approve the broker-dealer’s authorization. These measures are intended to protect the customer. Discretionary trading allows the broker-dealer to unilaterally decide to buy or sell securities at any price and not have to check with the client first. Exercising discretion without authorization can be costly to investors, and broker-dealers and their member firms, too.
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