Erez Law is investigating claims regarding Reginald Maurice Berthiaume Jr. (CRD #2702903, Orlando, Florida) , also known as Reggie Berthiaume. Berthiaume recently entered into a Letter of Acceptance, Waiver, and Consent (“AWC”) in which he was assessed a deferred fine of $10,000 and suspended from association with any FINRA member in any capacity for two years. See FINRA Case #2012031368001. The suspension is in effect from August 4, 2014, through August 3, 2016. Berthiaume was registered with Securities America from May 2011 until his termination in February 2012. Berthiaume previously was registered with Kovack Securities (October 2009 to April 2011) and Moors & Cabot (July 2007 to October 2009).
During its investigation, FINRA found between August 2007 and February 2011, Berthiaume failed to timely disclose to Moors & Cabot and Kovack Securities his involvement in three outside businesses: (i) Platinum Advantage Ltd., (ii) Tropical Auto Sales & Rent to Own Inc., and (iii) TAS Financial Partners LLC. The findings stated that one of the firms disapproved of two of the outside business activities after Berthiaume completed online outside business activity disclosure and notification forms. The findings also stated that Berthiaume failed to timely and completely respond to FINRA requests for documents and information concerning known associates of one of the outside businesses, and business-related electronic communications and correspondence relating to two of the outside businesses. Berthiaume failed to appear for on-the-record testimony requested by FINRA. In entering into the AWC, Berthiaume neither admitted nor denied FINRA’s findings.
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, Securities America, Kovack Securities, and Moors & Cabot may be liable for investment or other losses suffered by Berthiaume’s customers.
If you were a client of Berthiaume, Securities America, Kovack Securities, or Moors & Cabot, and have suffered investment losses or financial irregularities, please contact Erez Law to explore your legal options. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies. To learn more, please call us at 888-840-1571 or complete our “contact form.”