Douglas Dulac Allegedly Violated Suitability Rule
Douglas Dulac (CRD #: 1411702), a broker registered with United Planners’ Financial Services of America, is involved in a pending dispute, according to his BrokerCheck record, accessed on November 1, 2024.
Investor Dispute
On September 10, 2024, an investor filed a dispute alleging that Douglas Dulac breached his contract and violated the suitability rule. The client seeks $215,000 in damages in this pending dispute.
FINRA Rule 2010
FINRA Rule 2010 requires brokers to uphold high standards of commercial honor and just and equitable principles of trade.
What are suitable investments?
FINRA Rule 2111 defines suitable investments as securities that fit an investor’s profile. Investors’ profiles include information concerning their financial goals, other investments, and personal information like their age.
Some common violations of this rule include:
- Recommendations of high-risk investments, which are more likely to lose money.
- Recommendations of illiquid securities that, since they are meant to be held long-term, can incur high fees for investors who attempt to cash out early.
- A broker executing an excessive number of trades violates the requirement for quantitative suitability.
Background Information
Douglas Dulac has passed the following exams:
- Series 63 Uniform Securities Agent State Law Examination
- Series 65 Uniform Investment Adviser Law Examination
- SIE – Securities Industry Essentials Examination
- Series 7 General Securities Representative Examination
- Series 6 Investment Company Products / Variable Contracts Representative Examination
- Series 24 General Securities Principal Examination
- Series 26 Investment Company Products/Variable Contracts Principal Examination
He is a registered broker in 17 states and a registered investment adviser in Maine.
Douglas Dulac has worked with the following firms:
- United Securities Alliance (CRD#:36487)
- Royal Alliance Associates (CRD#:23131)
- New England Securities (CRD#:615)
- Pruco Securities (CRD#:5685)
Kurta Law Can Help
If you worked with Douglas Dulac 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 that 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.