Douglas Dulac Faces Investor Allegations

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 June 23, 2022.

On April 8, 2022, an investor alleged that Douglas Dulac violated FINRA’s “Suitability” rule. He also allegedly violated FINRA Rule 2010 and FINRA Rule 2210.

FINRA Rule 2010

FINRA Rule 2010 requires brokers to uphold high standards of commercial honor and just and equitable principles of trade.

FINRA Rule 2210

FINRA Rule 2210 requires that brokers’ communications with the public are approved by a firm’s registered principal.

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 Doulac 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 15 states and a registered investment adviser in Maine.

Douglas Doulac has worked with the following firms:

• LPL Financial (CRD #: 6413)
• P. Turner & Company Capital Management (CRD #: 124446)
• P. Turner & Company (CRD #: 43177)
• Global Capital Securities Corporation (CRD #: 16184)
• Northridge Capital Corporation (CRD #: 16467)
• Zeus Securities (CRD #: 18192)
• Milestone Financial Services (CRD #: 43295)
• Birchtree Financial Services (CRD #: 15014)
• Legg Mason Wood Walker (CRD #: 6555)
• Olde Discount Corporation (CRD #: 5979)

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 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.