Joseph Chu Embroiled in Third Dispute Alleging Unsuitable Energy Investments
Joseph Chu (CRD #: 4546805), a broker registered with RBC Capital Markets, is involved in a new investor dispute, according to his BrokerCheck record, accessed on August 24, 2021. This is his second dispute in 2021 alone.
On June 22, 2021, an investor alleged that Joseph Chu was negligent and recommended unsuitable investments. The investor further alleged he over-concentrated their portfolio in energy equities. The investor is seeking $1,000,000; the dispute is pending.
On January 28, 2021, an investor alleged that Joseph Chu recommended an unsuitable oil investment strategy. They further alleged that Joseph Chu’s personal connections with the CEO of one the oil companies may have impaired his ability to provide impartial advice. The investor sought $180,213.94 but the dispute was denied. Denials simply mean that the firm denies their representative engaged in misconduct – investors are still able to recover their losses following a denial.
Older Investor Disputes
On November 6, 2020, an investor alleged that they suffered a 65% loss in their employee pension IRA account due to Joseph Chu’s failure to diversify their portfolio. They further alleged that Chu made discretionary purchases of single company stocks, almost all of which were in the energy sector. The investor is seeking $367,452; the dispute is pending.
On August 4, 2020, an investor alleged that Joseph Chu recommended unsuitable investments in energy and metals, leading to an over-concentration that did not fit their objectives. The investor is seeking $1,600,000; the dispute is pending.
Settled Investor Dispute
On July 9, 2020, investors alleged that Joseph Chu misrepresented the risk of the energy and material sectors. They further alleged he over-concentrated their portfolio in highly volatile, unsuitable investments. The investor sought $500,001; the dispute settled for $175,000.
Joseph Chu Background Information
Joseph Chu has passed the following exams:
- Series 66 Uniform Combined State Law Examination
- Securities Industry Essentials Examination
- Series 31 Futures Managed Funds Examination
- Series 7 General Securities Representative Examination
He is a registered broker in 24 states and is a registered investment adviser in Connecticut and Texas.
Joseph Chu has worked for the following firms:
- RBC Capital Markets (CRD #: 31194)
- Merrill Lynch, Pierce, Fenner & Smith (CRD #: 7691)
Kurta Law Can Help
If you worked with Joseph Chu and you have concerns about your investments, contact Kurta Law today. Call 877-600-0098 or email email@example.com.