Erez Law is currently investigating former Cambridge Investment Research, Inc. broker Andrew Galy (CRD# 1915564) regarding energy sector losses. He was registered with Cambridge Investment Research, Inc. in Metairie, Louisiana, from 2014 to 2022, when he was terminated regarding, “Financial Professional and/or his office altered client account paperwork and reused client account signature pages.”
Andrew Galy Customer Complaints
He has been the subject of four customer complaints between 1996 and 2024, according to his CRD report. The most recent complaints are regarding:
August 2024. “Statement of Claim alleges an investment recommendation was made for the purpose of generating high commissions and fees and that claimants were deprived of the ability to generate reasonable returns that would have been received in a diversified portfolio.” The complaint was regarding direct investments and oil and gas investments losses, and it took place while he was registered with Cambridge Investment Research, Inc.
September 2022. “Statement of Claim alleges that the investment recommendations made to the Claimants were inconsistent with their overall financial profile. It is alleged that the recommended investment strategy was almost entirely compromised of high-risk, speculative and illiquid investments.” The customer sought $75,000 in damages, and the case was settled for $23,000. The complaint was regarding direct investments, common and preferred stocks, oil and gas investments, and real estate securities, and it took place while he was registered with Cambridge Investment Research, Inc.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, Cambridge Investment Research, Inc. may be liable for investment or other losses suffered by Andrew Galy’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.
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