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Investor Alleges Rob Rose Executed Unauthorized Trades

Rob Rose (CRD #: 1980112), a broker registered with Janney Montgomery Scott, allegedly executed unauthorized trades, according to his BrokerCheck record, accessed on May 3, 2023. Keep reading if you want to know more about his alleged conduct as a broker.

Investor Disputes

On February 22, 2023, an investor alleged that Rob Rose executed unauthorized trades and failed to follow their instructions regarding asset allocation in their managed account. The client seeks $78,000 in damages in this pending dispute.

In a dispute filed on August 31, 2020, multiple investors alleged that Rob Rose executed trades in their discretionary managed accounts that were unsuitable given their investment objectives. This trading allegedly took place from March through August 2020. This dispute was denied by the firm.

However, investors should know that firms can deny disputes without an external review. Investors may be able to recoup their losses by pursuing FINRA arbitration after a denial.

FINRA Rule 3260

FINRA Rule 3260 requires brokers to receive written authorization from their clients before engaging in discretionary trading. Discretionary accounts must also be approved by the firm before this trading can occur.

FINRA Rule 2010

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

FINRA Rule 2111

FINRA Rule 2111 requires brokers to evaluate whether an investment fits their investor’s financial goals. Brokers must consult the investor’s profile, which contains information about their age, tax status, and risk tolerance.

Investors who rely on their broker for recommendations may be able to recoup their losses through FINRA arbitration.

Background Information

Rob Rose has passed the following exams:

  • Series 66 – Uniform Combined State Law Examination
  • 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 10 – General Securities Sales Supervisor – General Module Examination
  • Series 9 – General Securities Sales Supervisor – Options Module Examination

Rob Rose is a registered broker in 37 states as well as the District of Columbia and Puerto Rico. He is also a registered investment adviser in North Carolina and Texas.

He has also worked for the following firms:

  • Truist Advisory Services (CRD#:283390)
  • Truist Investment Services (CRD#:17499)
  • BB&T Securities (CRD#:142785)
  • Scott & Stringfellow (CRD#:6255)
  • Wachovia Securities (CRD#:19616)     
  • First Union Brokerage Services (CRD#:8112)
  • Interstate/Johnson Lane Corporation (CRD#:431)
  • Corporate Securities Group (CRD#:11025)
  • The Stuart-James Company (CRD#:11691)

Kurta Law Can Help

If you worked with Rob Rose and you have concerns about your investments, please contact us today at 877-600-0098 or 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.