Ron Smith is Facing Allegations that He Engaged in Negligence

Ron Smith (CRD #: 6038062), a broker registered with Sanford C. Bernstein & Co., is the subject of an investor dispute. This disclosure appears on his BrokerCheck record, accessed on April 29, 2024. Keep reading if you have questions concerning his alleged conduct. 

Investor Allegations 

On February 22, 2024, an investor alleged that Ron Smith breached his fiduciary duty, engaged in negligence, failed to recommend suitable investments, failed to act in his claimant’s best interest, engaged in unauthorized trading, and made misrepresentations. 

The investor is seeking $250,000. 

FINRA Rule 2111 – Unsuitable Investments 

FINRA Rule 2111 defines suitable investments as securities that fit an investor’s profile. Investor profiles have information on the investor’s age, risk tolerance, tax status, investing experience, and financial goals. Investments that do not take these factors into account may be unsuitable. 

FINRA Rule 3260 – Unauthorized Trading 

FINRA Rule 3260 limits discretionary trading by brokers to pre-approved discretionary accounts. These accounts must be approved for discretionary trading by both the client and the firm. Discretionary trading that takes place in an account that has not been approved is unauthorized.

FINRA Rule 2020 – Misrepresentation 

FINRA Rule 2020 forbids the use of deceptive, manipulative, and otherwise fraudulent methods to influence the purchase and sale of securities. The misrepresentation or omission of material facts violates this rule.

Negligence

Many types of broker misconduct may qualify as negligence. Typical examples include unsuitable investment recommendations, misrepresentations or omissions of material fact, and failure to follow instructions.

Background Information 

Ron Smith 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 

He is a registered broker and investment adviser in Connecticut. 

During his ten years of experience, Ron Smith has registered with the following firms: 

• Sanford Bernstein & Co. (CRD #: 104474) 
• AllianceBernstein L.P. (CRD #: 108477) 
• Spartan Capital Securities (CRD #: 146251) 

Kurta Law Can Help 

If you have worked with Ron Smith 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.