Former RBC Capital Markets, LLC broker Frank Nickey (CRD# 4287405) faces a customer complaint for Puerto Rico Bonds and master limited partnership (MLP) investment losses. Nickey has been registered with Cuso Financial Services, L.P. in Newport News, Virginia since August 2019. Previously, Nickey was registered with Wells Fargo Advisors Financial Network, LLC in Fort Lauderdale, Florida from 2014 to 2019. Prior to that, Nickey was registered with RBC Capital Markets, LLC in Fort Lauderdale, Florida from 2009 to 2014.
Nickey has been the subject of two customer complaints between 2013 and 2020, according to his CRD report, one of which was denied:
July 2020. “Claimant alleges that sometime after 2009, FA recommended unsuitable investments in Puerto Rican Bonds and MLP mutual funds.” The case is currently pending. The case was regarding municipal debt and mutual funds and took place while Nickey was registered with RBC Capital Markets, LLC.
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, RBC Capital Markets, LLC may be liable for investment or other losses suffered by Nickey’s customers.
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