Theresa Allen (CRD #2183693) Has Customer Dispute Disclosures on FINRA BrokerCheck

Theresa Allen (CRD #2183693) is a broker and investment adviser with customer dispute disclosures on FINRA BrokerCheck. We reviewed her BrokerCheck report on March 18, 2026. It reflects nine customer dispute disclosures. If you invested with Theresa Allen and have concerns, keep reading.

BrokerCheck link: BrokerCheck

BrokerCheck report: BrokerCheck Report (PDF)

Investor Disputes / Customer Complaints

Theresa Allen’s FINRA BrokerCheck report reflects nine customer dispute disclosures. this summary highlights two examples below. Seven additional customer dispute disclosures also appear on her BrokerCheck report.

On January 15, 2026, a customer alleged Theresa Allen made an unsuitable investment recommendation. Theresa Allen’s FINRA BrokerCheck report lists the activity dates as 2021 through March 2023, the product type as Equity-OTC, and alleged damages of $130,069.20. BrokerCheck shows the matter is pending in FINRA arbitration under docket number 26-00093.

On April 11, 2024, a claimant alleged unsuitable investment recommendations and unauthorized trading. Theresa Allen’s FINRA BrokerCheck report lists activity dates from November 2019 through July 2021, alleged damages of $1,750,000.00, and a settlement of $950,000.00 on September 13, 2024. Her BrokerCheck statement says the matter was filed after her departure from First Republic Securities Company, LLC, after that firm merged into J.P. Morgan Securities Inc., and that she did not contribute to the settlement amount.

Rule Summary #1: FINRA Rule 2111 (Suitability)

FINRA Rule 2111 requires a reasonable basis for a recommendation. It also requires a broker to match a recommendation to the customer’s investment profile. Disputes about unsuitable recommendations often raise questions about whether the product fit the customer’s risk tolerance, needs, and objectives.

Rule Summary #2: FINRA Rule 3110 (Supervision)

FINRA Rule 3110 requires firms to maintain a supervisory system that is reasonably designed to achieve compliance with securities laws and FINRA rules. When disputes involve recommendation practices or unauthorized trading allegations, supervision can become a key issue.

Why This Matters to Investors (Regulation Best Interest (Reg BI))

Regulation Best Interest (Reg BI) is a U.S. securities regulation. It strengthens the standard of conduct that broker-dealers owe to retail investors. It applies when they recommend securities transactions or investment strategies. The U.S. Securities and Exchange Commission adopted Reg BI. It became effective on June 30, 2020. Reg BI aims to protect investors while preserving access to brokerage products and services.

Reg BI requires broker-dealers and financial advisors to act in a retail customer’s best interest at the time of a recommendation. They must not place their own financial or other interests ahead of the customer’s. This standard is higher than the older “suitability” rule. Suitability meant a recommendation only had to be appropriate. It did not have to be the best option or free of conflicts.

Reg BI has four key obligations:

Disclosure Obligation – Broker-dealers must disclose material facts about the relationship and the recommendation. This includes fees, the scope of services, and conflicts of interest.

Care Obligation – Broker-dealers must use reasonable diligence, care, and skill. They must consider costs, risks, and alternatives when making a recommendation.

Conflict of Interest Obligation – Firms must identify conflicts of interest. They must disclose them and mitigate or eliminate them. This includes conflicts that create incentives to favor one product over another.

Compliance Obligation – Firms must maintain policies and procedures. Those policies should be designed to ensure compliance with Reg BI as a whole.

Reg BI applies to each recommendation. It is not a continuous duty like the fiduciary standard for registered investment advisers. Even so, it narrows the gap. It puts more focus on costs, conflicts, and investor-focused decision-making.

Overall, Regulation Best Interest promotes transparency. It also aims to improve the quality of investment recommendations. It is designed to reinforce trust between retail investors and broker-dealers in the U.S. securities markets.

Background Information (from BrokerCheck)

Based on her FINRA BrokerCheck report, Theresa Allen:

Is currently registered with RBC Capital Markets, LLC.

Has passed the Securities Industry Essentials (SIE) exam. Theresa Allen has also passed Series 7, Series 6, and Series 63.

Was previously registered with firms that include First Republic Securities Company, LLC and UnionBanc Investment Services, LLC.

Kurta Law Can Help

If you have worked with Theresa Allen and you have concerns about her activity, Kurta Law may be able to help you evaluate your legal options. A securities attorney can help you assess potential causes of action and determine whether your losses may be recoverable through FINRA arbitration or other avenues. To speak with Kurta Law, call 877-600-0098 or email info@kurtalawfirm.com.

Helpful resources: Securities Attorney | What is Securities Fraud

For nearly 20 years, Kurta Law has advocated for investors and helped hold financial professionals accountable. Our firm represents clients nationwide in securities arbitration and related disputes. If you believe a broker or firm mishandled your account, an attorney can review the facts and explain possible next steps.