There are options for customers of former RBC Capital Markets, LLC broker Stuart Godin (CRD# 223476) regarding losses in managed funds. Godin has been registered with Western International Securities, Inc. in Los Angeles, California since September 2017. Previously, he was registered with Financial West Group in Los Angeles, California from March 2016 to August 2017 and with RBC Capital Markets, LLC in Century City, California from 2006 to 2016.
Godin has been the subject of seven customer complaints between 1985 and 2017, three of which date back to the 1980s, according to his CRD report:
Date Not Listed. “[customer] alleged she lost $950,000 brotten down as follows; managed commodities $20 m systemtived $50,000 textile transfer, + $700 in promissory notes of a furniture co I didn’t know of the allegations so I don’t know who they were against. I assume it was Oppenheimer, Bear Steaers & myself.” The customer sought $1,850,000 in damages and the case was settled for $50,000. The complaint took place while Godin was registered with Oppenheimer & Co., Inc.
May 2019. “Misrepresentation and incompetence on stock selections from 2018 to 2019.” The customer sought $35,000 in damages and the case was settled for $9,000. This case was regarding common and preferred stocks and took place while Godin was registered with Western International Securities, Inc.
November 2017. “Claimant alleges losses due to the financial advisor’s unsuitable recommendation to invest in a managed futures fund. Time frame is 11/2012 to 3/2016.” THe customer sought $50,000 in damages and the case was settled for $20,000.
September 2016. “Client alleges he lost nearly all of his investment in a Managed Futures program from 10/2014 to 06/2016, after he was told that he could not lose more than 20% of his investment.” The client sought $30,000 in damages and the case was settled for $15,000.
March 1999. “Customer alleges violations of law and industry rules in connection with investments made in 10/06/1995 -note and shares of stock purchased from third party.” The customer sought $120,000 in damages and the case was settled for $9,999.
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 Godin’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.
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