RBC Capital Markets Stockbroker Accused Of Unauthorized Trading
Katherine S. Clark (also known as Katherine St. Charles) of Chevy Chase Maryland a stockbroker and investment adviser representative of RBC Capital Markets LLC is referenced in a customer initiated investment related complaint on June 9, 2020 in which the customer sought more than $5,000.00 in damages supported by allegations that unauthorized transactions were executed by the stockbroker in May of 2019 causing losses in the customer’s RBC Capital Markets account.
Clark has been identified in five additional customer initiated investment related disputes regarding accusations of her bad sales tactics while she was employed by Salomon Smith Barney (now known as Citigroup Global Markets Inc.) and Merrill Lynch. Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that a customer initiated investment related complaint involving Clark’s conduct was settled to resolve allegations that the Salomon Smith Barney customer was placed into a corporate debt investment that had been misrepresented and which was not suitable for the customer.
Clark is also the subject of a customer initiated investment related arbitration claim where the customer was awarded $172,167.39 in damages based upon Clark and Citigroup Global Markets being found liable for causing the customer’s losses. The Statement of Claim alleges that the stockbroker made misrepresentations and omissions regarding mutual funds as well as stocks and government securities including Mainstay High Yield Corporate Bond Fund and Smith Barney High Income Fund. The claim also alleges that a fiduciary duty that was owed to the customer had been breached and that the terms of an investment agreement had been violated.
Another customer initiated investment related complaint concerning Clark’s activities has been settled for $15,000.00 in damages founded upon accusations that the customer’s investment instructions had been disregarded by the stockbroker causing the Merrill Lynch customer to sustain investment losses. Clark is also the subject of a customer initiated investment related written complaint in which the customer requested unspecified damages supported by allegations that trades were effected in the Merrill Lynch customer’s account on an excessive basis and that the investment recommendations made by Clark failed to be suitable for the customer. According to the complaint, unauthorized structured products transactions were effected in the customer’s account.