Concerned about investment losses with Austin Dutton & Newbridge Securities?
The White Law Group continues to investigate potential claims involving financial advisor Austin Dutton and his former employer Newbridge Securities.
Dutton was reportedly fined $200,000 in July 2017 for allegations of “dishonest or unethical practices in the securities business,” according to the Pennsylvania Department of Banking and Securities.
The Pennsylvania state regulator also reportedly fined Newbridge Securities $499,000 for failing to supervise a broker in connection with sales of structured products to his clients in the state.
According to his FINRA BrokerCheck report, Dutton “recommended the purchase of a security to at least one customer without reasonable grounds to believe that the transaction was suitable for the customer.”
Dutton was registered with Newbridge Securities Corp. in Doylestown, PA from 2007 through August 2017, according to his Broker Check report. He has 9 customer disputes listed on his broker report since November 2017 for allegations of unsuitability, negligence and misrepresentation, among others.
Failure to Supervise
Brokerage firms are required to properly supervise their advisors. They must ensure that those advisors are complying with applicable FINRA rules and regulations. If it can be demonstrated that Austin Dutton’s former employers failed to properly supervise him, the firm may be held responsible for the losses in a FINRA arbitration claim.
If you are concerned about your investments with Austin Dutton and would like a free consultation to discuss your litigation options, please call The White Law Group at 1-888-637-5510.
The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Franklin, Tennessee.
For more information on The White Law Group, visit www.WhiteSecuritiesLaw.com.