Erez Law is currently investigating former Ross, Sinclaire & Associates, LLC broker Robert Clarke (CRD# 735940) regarding investment losses. Clarke has been registered with Natalliance Securities, LLC in Austin, Texas since 2017. Previously, Clarke was registered with Ross, Sinclaire & Associates, LLC in Cincinnati, Ohio from 1995 to 2017.
In May 2019, the Commonwealth of Kentucky suspended Clarke for 5 months and sanctioned him to a $3,000 civil and administrative penalty following allegations that he placed trades in customer accounts as an unregistered broker-dealer agent.
In August 1999, the Alabama Securities Commission issued a cease and desist order against Ross Sinclaire & Associates, Inc. and two of its agents, including Clarke and Mark Joseph Durket, regarding “review of application for registration in Alabama disclosed there was a total of 514 transactions effected in the accounts of 4 Alabama residents.” Clarke was ordered to pay a $10,000 administrative assessment as well as $3,000 in investigative costs.
Clarke has been the subject of five customer complaints between 1998 and 2018, according to his CRD report. Recent complaints were regarding:
- December 2018. “Mortgage backed securities were not suitable for client.” The customer sought $100,000 in damages and the case was settled for $30,000. The complaint was regarding mortgage-backed securities and took place while Clarke registered with Ross, Sinclaire and Associates, LLC.
- October 2017. “Claimants allege misrepresentation of CMO product and purchases of the product in the claimant accounts.” The customer sought $500,000 in damages and the case was settled for $125,000. The complaint was regarding centralized mortgage obligation (CMO) and took place while Clarke registered with Ross, Sinclaire and Associates, LLC.
- March 2016. “Between August 2010 and January 2011 customer alleges registered representative misrepresented and made an unsuitable recommendation for the customer to invest in collateralized mortgage obligations.” The customer sought $250,000 in damages and the case was settled for $120,000. The complaint was regarding debt-asset backed securities and took place while Clarke registered with Ross, Sinclaire and Associates, 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, Ross, Sinclaire & Associates, LLC may be liable for investment or other losses suffered by Clarke’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If and 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.