Erez Law is currently investigating former Harbor Light Securities, LLC financial advisor Christopher Lee Goslin (CRD# 1720162) regarding outside business activities, investment mismanagement, breach of fiduciary duty, unsuitable investments, and negligence, among other issues. Goslin was previously registered with Harbor Light Securities, LLC in Tampa, Florida from 2012 to 2016 and with J.P. Turner & Company, L.L.C. in Tampa, Florida from 2010 to 2012.
In September 2016, FINRA fined Goslin $5,000 in civil and administrative penalties/fines and suspended him for one month after he consented to the sanctions that he failed to provide prior written notice and inform his employer of outside business activities, a limited liability corporation formed for tax and asset protection purposes. Goslin received monetary distributions from the outside business and violated Harbor Light Securities, LLC’s Written Supervisory Procedures (WSPs) that required registered representatives to provide notice to the firm to receive approval for outside business activities.
In 2008, Goslin voluntarily resigned from Painewebber Inc. in Weehawken, New Jersey. According to his CRD report, “There were no allegations at the time of my resignation. I left the firm on 3/1/98 and Painewebber put an internal review DRP on my u4 one month later. They claim I went to a firm other than Painewebber to purchase an annuity for a client.
Additionally, Goslin has been the subject of 18 customer complaints between 1998 and 2016, according to his CRD report, of which four cases were closed without action and one case was denied.
- June 2016. “Alleges mismanagement of Trust; improperly charged Trustee fees.” The customer is seeking $15,000 in damages and the case is currently pending.
- February 2016. “Claimant alleges misrepresentation, unsuitable investments, breach of contract, common law fraud, negligence and breach of fiduciary duty.” The customer is seeking $185,000 in damages and the case is currently pending.
- October 2015. “Breach of fiduciary duty, misrepresentations and omissions and failure to perform a reasonable basis suitability analysis.” The customer is seeking $605,450.49 in damages and the case is currently pending.
- June 2015. “Unsuitable recommendations; fraud, misleading statements or omission of material information; breach of fiduciary duty; negligent misrepresentation; negligence; breach of contract; elder abuse. The customer sought $4,500,000 in damages.
- November 2013. “Client alleges that in 2007 representative was negligent in recommending he invest in several private placement products and that he has suffered losses as a result.” The client sought $175,000.00 in damages and the case was settled for $7,500.
- September 2012. “Alleges misconduct including improper sales practices, fraud in the inducement, breach of fiduciary duty, unsuitable investment recommendations and failures to supervise sustaining damages in the approximate amount of $6 million.” The client sought $6,000,000 in damages and the case was settled for $15,000.
- June 2012. “Misrepresentation and poor advice.” The client sought $70,000 in damages and the case was settled for $6,000.
- February 2012. “Unsuitable recommendations, negligence, violation of state and federal securities law, common law fraud and breach of fiduciary duty.” The client sought $350,000 in damages and the case was settled for $36,000.
- December 2012. “Misrepresentation, unsuitability and breach of fiduciary duty.” The client sought $15,000 in damages and the case was settled for $30,000.
- April 2010. “Client alleges misrepresentation.” The client sought $5,000 in damages and the case was settled for $77,000.
- February 2003. “Customer alleges that broker exchanged him unnecessarily from one annuity to another with the promise of higher returns resulting in losses of $89,574.00.” The client sought $358,296 in damages and the case was settled for $40,000.
- March 2001. “Misrepresentation and failure to disclose material terms of the investment.” The client sought $7,542.90 in damages and the case was settled for $569.68
- May 1998. “Client alleges misrepresented reinvestment option and penalty (SP) of CD. Time period march 1996 damages: not specified.” The client sought $2,000 in damages and the case was settled for $1,771.99.
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, Harbor Light Securities, LLC may be liable for investment or other losses suffered by Goslin’s customers.
Erez Law represents investors in the United States for claims against former Harbor Light Securities, LLC financial advisor Christopher Lee Goslin, who is alleged to conduct in outside business activities, mismanagement, breach of fiduciary duty, unsuitable investments, and negligence, among other issues. If you were a client of former Harbor Light Securities, LLC financial advisor Christopher Lee Goslin or another firm, 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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