Janney Montgomery Stockbroker Barred In Investigation
Charles James Euler Jr. of Radnor Pennsylvania a stockbroker formerly registered with Janney Montgomery Scott LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he failed to comply with the regulator during an investigation into allegations against Euler of unsuitable recommendations. Letter of Acceptance Waiver and Consent No. 2016051156902 (Mar. 27, 2020).
According to the AWC, on March 12, 2020, Euler was asked by FINRA personnel to provide recorded testimony as part of its investigation into the nature of his investment recommendations. The regulator was assessing whether Euler’s advice was unsuitable for customers. Euler’s legal counsel contacted FINRA the day after he was provided the request to indicate that the stockbroker but would not comply. FINRA determined that Euler’s failure to testify in its investigation constituted the violation of Rules 2010 and 8210.
FINRA Public Disclosure reveals that Euler has been identified in seven customer initiated investment related disputes containing allegations of his misconduct while employed by securities broker dealers including Janney Montgomery Scott. On January 19, 2017, a customer initiated investment related arbitration claim involving Euler’s conduct was settled for $75,000.00 in damages based upon allegations that bad stocks were held in the customer’s account during the time that Euler was associated with Janney Montgomery Scott. FINRA Arbitration No. 16-00248 (Jan. 19, 2017).
Another customer initiated investment related arbitration claim regarding Euler’s activities was resolved for $350,000.00 in damages based upon accusations that unauthorized and unsuitable equities trades were effected in the customer’s account by Euler when he was associated with Janney Montgomery Scott. FINRA Arbitration No. 16-02087 (Dec. 21, 2017). According to the claim, misrepresentations and omissions had been made by the stockbroker in regard to the customer’s securities purchases.
Euler is also the subject of a customer initiated investment related arbitration claim which was settled for $150,000.00 in damages supported by allegations that the customer’s account had been invested in risky and inappropriate stocks because of Euler’s advice. FINRA Arbitration No. 17-00209 (Oc. 30, 2017). The claim alleges that the Janney Montgomery Scott customer’s account lacked diversification and that this lack of balance led to losses for the customer’s account. Another customer initiated investment related complaint involving Euler’s conduct was settled on July 10, 2018 for $45,000.00 in damages based upon allegations of Euler’s investment recommendations failing to be suitable and resulting in an overconcentration of the customer’s assets in equities which generated losses.
Euler was associated with Janney Montgomery Scott between December 26, 1984 and April 30, 2018.