Investor Alleges Bruce Boyle Executed Excessive and Unauthorized Trades

Bruce Boyle (CRD #: 1796066), a broker formerly registered with SW Financial, allegedly executed trades and used margin without client authorization, according to his BrokerCheck record, accessed on June 26, 2023. Keep reading if you want to know more about his alleged conduct as a broker.

Investor Dispute

On April 13, 2023, an investor alleged that Bruce Boyle engaged in excessive and unauthorized trading and made unauthorized use of margin. The client further alleged that they were charged excessive commissions. They seek $194,599 in damages in this pending dispute.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to take investors’ profiles into account when recommending investments. These profiles contain information about an investor’s tax status, risk tolerance, and other characteristics.

Investments can also be quantitatively unsuitable. An excessive number of trades generates commissions and trading fees that can cut into a client’s returns so severely that the investor doesn’t make any profit.

Investors who rely on their broker for recommendations may be able to recoup their losses through FINRA arbitration.

FINRA Rule 3260

FINRA Rule 3260 forbids brokers from conducting discretionary trading outside of accounts approved in advance by their client and firm.

Background Information

Bruce Boyle has passed the following exams:

• Series 63 – Uniform Securities Agent State Law Examination
• Series 52TO – Municipal Securities Representative Examination
• Series 99TO – Operations Professional Examination
• SIE – Securities Industry Essentials Examination
• Series 7 – General Securities Representative Examination
• Series 6 – Investment Company Products/Variable Contracts Representative Examination
• Series 14 – Compliance Officer Examination
• Series 4 – Registered Options Principal Examination
• Series 53 – Municipal Securities Principal Examination
• Series 24 – General Securities Principal Examination
• Series 27 – Financial and Operations Principal Examination

He has also worked for the following firms:

• SW Financial (CRD#:145012)
• Etico Partners (CRD#:122481)
• M. J. Whitman (CRD#:27870)
• The Dreyfus Service Corporation (CRD#:231)

Kurta Law Can Help

If you worked with Bruce Boyle and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.