Charles Bloom Barred By FINRA
Charles Bloom (CRD #4144108), a barred broker formerly registered with Chelsea Financial Services, has been barred by FINRA, according to his BrokerCheck record, accessed on November 26, 2021.
FINRA Bar
According to an Acceptance, Waiver, and Consent agreement dated July 17, 2018, Charles Bloom consented to the findings that he refused to appear for testimony as requested by FINRA in connection with an investigation into allegations that he engaged in an unsuitable pattern of trading in at least three customer accounts. Charles Bloom was barred from associating with any FINRA member firm in any capacity.
Charles Bloom’s alleged conduct was a violation of FINRA Rule 8210 and FINRA Rule 2010.
FINRA Rule 8210 requires that registered brokers supply FINRA staff with all information and documents requested in the course of an investigation. A violation of FINRA Rule 8210 is also a violation of FINRA Rule 2010, which requires member firms and their associated persons to “observe high standards of commercial honor and just and equitable principles of trade.”
You can read the full AWC here.
Investor Allegations
On October 25, 2021, an investor filed a dispute against Charles Bloom, alleging unsuitable investment recommendations, failure to supervise, breach of fiduciary duty, and negligence. The damage amount requested is $75,000. The case is still pending.
Settled Disputes
Between 2006 and 2019, Charles Bloom was involved in two settled investor disputes:
- On December 4, 2019, an investor filed a dispute against Charles Bloom, alleging negligence, failure to supervise, fraud, and breach of fiduciary duty. The damage amount requested was $100,000. The case was settled for $40,000.
- On November 6, 2006, an investor accused Charles Bloom of allegedly executing unauthorized trades between January and April 2004, leading to significant losses. The damage amount requested was $138,000. The case was settled for $50,000.
Prior Regulatory Disclosures
On February 6, 2009, Charles Bloom consented to the entry findings by the Florida Office of Financial Regulation that he violated Chapter 517 of the Florida statutes and also violated the terms of his registration agreement. HE consented to a 20-day suspension and a $5,000 fine.
According to an Acceptance, Waiver, and Consent agreement dated July 14, 2008, Charles Bloom consented to the findings that he allegedly made a $33,000 payment to a customer to settle a potential claim by the customer, without his member firm knowledge or approval. This conduct violates FINRA Rule 2010 which requires member firms and their associated persons to “observe high standards of commercial honor and just and equitable principles of trade.”
Charles Bloom consented to a 20-day suspension and a $5,000 fine.
Resignation Details
On December 13, 2006, Charles Bloom resigned from his position at 1st Discount Brokerage following allegations that he executed unauthorized trades in a customer’s account between January and April 2004.
Background Information
Charles Bloom has passed the following exams:
- Series 63 – Uniform Securities Agent State Law Examination
- SIE – Securities Industry Essentials Examination
- Series 7 – General Securities Representative Examination
- Series 24 – General Securities Principal Examination
He has worked with the following firms:
- International Assets Advisory (CRD#:10645)
- IAA Financial (CRD#:6578)
- U.S. Brokerage (CRD#:39307)
- Acument Securities (CRD#:7661)
Kurta Law Can Help
If you have worked with Charles Bloom and have concerns about your investments, don’t hesitate to contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.
For nearly 20 years, Kurta Law has advocated for investors 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.