Douglas English Allegedly Recommended Unsuitable Investments
Douglas English (CRD #: 2532448), a previously registered broker with LPL Financial, is the subject of an investor dispute. This is according to his BrokerCheck record, accessed on May 20, 2024. Keep reading if you have questions regarding his alleged conduct.
Investor Allegations
On March 22, 2024, investors alleged that Douglas English recommended unsuitable investments into equity-listed securities and other causes of actions related to these trades. The investors are seeking $400,000.
Unsuitable Investments
FINRA Rule 2111 requires brokers to evaluate whether an investment fits their investor’s financial goals.
Some common violations of this rule include:
- Excessive trading, which violates the need for quantitative suitability. This means that the number of trades must suit an investor’s goals. Excessive trading is also known as “churning.”
- Recommendations of unsuitable investment strategies. For instance, overconcentration of securities in a certain stock or sector is typically unsuitable due to the degree of risk.
- Recommendations of high-risk or illiquid investments. These investments may lead to high fees for the investor.
Investors who rely on brokers for recommendations may be able to recover their losses by pursuing FINRA arbitration.
Background Information
Douglas English has passed the following exams:
- Series 65 Uniform Investment Adviser Law Examination
- Series 63 Uniform Securities Agent State 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 Representative Examination
He has registered with the following firms:
- LPL Financial (CRD #: 6413)
- CUNA Brokerage Services (CRD #: 13941)
- Nathan & Lewis Securities (CRD #: 8503)
Kurta Law Can Help
If you have worked with Douglas English and have concerns about your investments, do not hesitate to contact us at 877-600-0098 or email 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 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. Do not let securities fraud go unchecked. Start your recovery process today.