Former RBC Capital Markets Client Wins FINRA Arbitration for $175,000 for Pioneer Municipal Bond Fund Losses
Posted on Tuesday, June 16th, 2020 at 3:21 pm
In February 2020, a former client of RBC Capital Markets won an award in a FINRA arbitration for compensatory damages for $175,000 for investment losses. The investors were clients of broker Brian Wurdemann (CRD# 4206425).
The causes of action included breach of contract, breach of fiduciary duty, lack of supervision, fraudulent practices, negligent and intentional misrepresentation, fraud and negligence. The causes of action relate to Pioneer Municipal Bond Fund and a margin account. The FINRA arbitration hearing was conducted in Newark, New Jersey.
Wurdemann has been registered with RBC Capital Markets, LLC in New York, New York since 2017. Wurdemann has also been the subject of five customer complaints between 2004 and 2018, one of which was denied, according to his CRD report.
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 may be liable for investment or other losses suffered by Wurdemann’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.