Investors Allege Otho Evans Failed to Act in Their Best Interest

Otho Evans (CRD #: 1199304), a broker registered with RBC Capital Markets, allegedly misrepresented investments, according to his BrokerCheck record, accessed on June 2, 2023. If you want to know more about his alleged conduct as a broker, read on.

Pending Dispute

On March 6, 2023, multiple investors filed a dispute alleging that Otho Evans failed to act in their best interest by misrepresenting high-risk investments starting in May 2021. This dispute is currently pending.

FINRA Rule 2111 and Regulation Best Interest

FINRA Rule 2111 requires brokers to recommend securities that sufficiently suit an investor’s financial goals. Brokers must consult the investor’s profile, which contains information about their tax status, risk tolerance, and financial goals.

Regulation Best Interest (Reg-BI) is an SEC regulation that requires brokerage firms to put their clients’ best interests first. For example, firms must conduct reasonable due diligence when researching investments to ensure their recommendations are suitable for the investor.

FINRA Rule 2020

The misrepresentation of information related to investments violates FINRA Rule 2020, which bans the use of manipulative, deceptive, and otherwise fraudulent methods to influence the purchase and sale of securities.

Background Information

Otho Evans has passed the following exams:

• Series 66 – Uniform Combined State Law Examination
• Series 63 – Uniform Securities Agent State Law Examination
• SIE – Securities Industry Essentials Examination
• Series 31 – Futures Managed Funds Examination
• Series 7 – General Securities Representative Examination
• Series 24 – General Securities Principal Examination
• Series 53 – Municipal Securities Principal Examination

Otho Evans is a registered broker in 11 states and Texas.

He has also worked for the following firms:

• Morgan Stanley Smith Barney (CRD#:149777)
• Morgan Stanley & Company (CRD#:8209)
• Security Church Finance (CRD#:11224)
• Lincoln Financial Advisors (CRD#:3978)
• The Lincoln National Life Insurance Company (CRD#:2580)
• American General Securities (CRD#:13626)
• First Allied Securities (CRD#:32444)
• D.E. Frey & Company (CRD#:23595)
• Powell & Satterfield (CRD#:7030)
• Westcap Government Securities (CRD#:19645)
• Westcap Securities (CRD#:7301)
• Lovett Underwood Neuhaus & Webb (CRD#:22540)
• Underwood, Neuhaus & Company (CRD#:839)
• Buchanan & Company (CRD#:7113)

Kurta Law Can Help

If you worked with Otho Evans 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.