Francis Carson Subject of Million-Dollar Investor Dispute

Francis Carson (CRD #1494735), a broker registered with Money Concepts Capital Corp., is the subject of an investor dispute. This is according to his BrokerCheck record, accessed on August 9, 2023. Details are provided below. 

On July 18, 2023, an investor alleged that Francis Carson recommended unsuitable investments and engaged in negligence. The investor further alleges a lost opportunity. The investor is seeking $1,402,600. 

What is Broker Negligence? 

Negligence covers a variety of broker misconduct, including a failure to conduct due diligence. Investors who believe their losses are the result of broker negligence may be able to recover their funds by pursuing FINRA arbitration. 

FINRA Rule 2111 – Unsuitable Investments

FINRA Rule 2111 defines suitable investments as securities that fit an investor’s profile. 

• Investments can be unsuitable because they are high risk and likely to lose money.
• Securities may also be unsuitable because they are illiquid, meaning that they are intended to be held for an extended time, and investors may have to pay high fees to cash out.
• Securities can be quantitatively unsuitable, which means that brokers executed an excessive number of trades.
• These requirements apply to the overall investment strategy as well as the investments themselves. For instance, an investment strategy might be unsuitable if the securities are overconcentrated in a particular stock or sector.

Investors who rely on brokers for investment recommendations can pursue FINRA arbitration and potentially recover their losses.

Background Information 

Francis Carson has worked with the following firms: 

• Series 63 Uniform Securities Agent State Law Examination 
• Series 65 Uniform Investment Adviser Law Examination 
• SIE – Securities Industry Essentials Examination 
• SIE – Securities Industry Essentials Examination 
• Series 7 General Securities Representative Examination 

He is a registered broker in nine states and is a registered investment adviser in Connecticut and New York. 

Francis Carson has registered with the following firms: 

• Money Concepts Capital Corp (CRD #: 12963) 
• Trustmont Financial Group (CRD #: 18312) 

Kurta Law Can Help

If you worked with Francis Carson 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.