Steven Howard Bright, of Dallas, Texas, a stockbroker formerly registered with Wunderlich Securities, Inc., has been named in a customer initiated investment related written complaint on September 30, 2016, in which the customer requested $17,000.00 in damages based upon allegations that Bright effected exchange traded note transactions in the customer’s account on an excessive and unsuitable basis.
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Bright has been identified in ten additional customer initiated investment related disputes containing allegations of his misconduct while employed with Southwest Securities, Inc., Wunderlich Securities, Inc., and Stifel, Nicolaus & Co., Inc. Particularly, on December 23, 2010, a customer initiated investment related arbitration claim involving Bright’s conduct was settled for $20,500.00 in damages based upon allegations that Bright breached his fiduciary duties and made unsuitable stock recommendations to the customer.
On May 13, 2008, a customer was awarded $366,300.00 in damages according to an investment related arbitration claim involving Bright’s conduct, based upon allegations which include negligent misrepresentation regarding penny stock transactions, breach of contract, negligence, breach of fiduciary duty, and violation of Texas Securities Act and Deceptive Trade Practices Act.
Further, on December 3, 2010, a customer initiated investment related arbitration claim regarding Bright’s activities was resolved for $13,000.00 in damages based upon allegations that Bright made misrepresentations and unsuitable recommendations to the customer concerning exchange traded funds and unit investment trust products, and failed to liquidate the customer’s account pursuant to the customer’s instructions. Additionally, on June 8, 2015, a customer filed an investment related written complaint involving Bright’s conduct, in which the customer requested $5,000.00 in damages based upon allegations that Bright misrepresented an open-end mutual fund investment, and altered or forged the customer’s investment account documentation.
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