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First Standard Financial Company LLC Broker Debra Bourne Accused of Excessive Trading

Posted on Tuesday, July 16th, 2019 at 8:43 pm    

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Were you the victim of excessive trading with former First Standard Financial Company LLC broker Debra Bourne (CRD# 1352344)? Bourne was registered with First Standard Financial Company LLC in Red Bank, New Jersey from 2016 to May 2019, and previously with National Securities Corporation in Red Bank, New Jersey from 2014 to 2016.

Bourne has been the subject of four customer complaints between 2015 and 2019, according to her CRD report:

April 2019. “Suitability & excessive trading.” The customer is seeking $2 million in damages and the case is currently pending. The case is regarding common and preferred stocks.

March 2019. “Suitability, excessive trading, breach of fiduciary duty and negligence.” The customer is seeking $300,000 in damages and the case is currently pending. The case is regarding common and preferred stocks.

February 2019. “Unauthorized trading & suitability.” The customer is seeking $668,000 in damages and the case is currently pending. The case is regarding common and preferred stocks.

July 2015. “Breach of fiduciary duty, suitability, negligence, breach of contract.” The customer sought $100,000 in damages and the case was settled for $90,000. The case was regarding direct investments and equity OTC.

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, First Standard Financial Company LLC may be liable for investment or other losses suffered by Bourne’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.