Dispute Names Timothy Sherer in Allegations of Fraud and Elder Financial Abuse

Timothy Sherer (CRD #: 833618), a broker registered with Emerson Equity, is named in a pending dispute, 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.

Investor Dispute

On March 7, 2023, an investor filed a dispute naming Timothy Sherer in allegations of violations of federal and California state securities laws, as well as California laws concerning elder financial abuse and unfair and fraudulent business practices.

The dispute further alleges the following:

• Fraud and common law fraud
• Unsuitable investment recommendations
• Misrepresentations and omissions of material fact
• Breach of contract
• Negligence and gross negligence

The investor seeks $448,781.65 in damages in this pending dispute.

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 recommend securities that adequately fit an investor’s financial goals. Brokers must take into account the information described in an investor’s profile, such as their tax status, age, and risk tolerance.

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

FINRA Rule 2020

FINRA Rule 2020 bans the use of manipulation, deception, and other fraudulent tactics to influence investors’ decisions. The misrepresentation or omission of material facts violates this rule.

What are Blue Sky Laws?

Blue sky laws are state securities regulations that provide investors with an extra layer of protection against fraud. They frequently also define what investments qualify as securities in the state.

What qualifies as broker negligence?

Many types of broker misconduct may qualify as negligence. Common examples include misrepresentations or omissions of material fact, unsuitable investment recommendations, and unauthorized trading.

Investors who feel their losses are the result of broker negligence may be able to recover their funds by pursuing FINRA arbitration.

Background Information

Timothy Sherer has passed the following exams:

• Series 65 – Uniform Investment Adviser Law Examination
• Series 63 – Uniform Securities Agent State Law Examination
• Series 22TO – Direct Participation Programs Representative Examination
• SIE – Securities Industry Essentials Examination
• Series 7 – General Securities Representative Examination
• Series 1 – Registered Representative Examination
• Series 24 – General Securities Principal Examination

Timothy Sherer is a registered broker in 18 states and a registered investment adviser in California and Texas.

He has also worked for the following firms:

• Sandlapper Wealth Management (CRD#:41534)
• Sandlapper Securities (CRD#:137906)
• SCF Securities (CRD#:47275)     
• SCF Investment Advisors (CRD#:123608)
• J P Turner & Company Capital Management (CRD#:124446)
• J.P. Turner & Company (CRD#:43177)
• Regal Securities (CRD#:7297)
• Brookstreet Capital Management (CRD#:14667)
• Brookstreet Securities (CRD#:14667)
• MetLife Securities (CRD#:14251)
• Metropolitan Life Insurance Company (CRD#:4095)
• Sunset Financial Services (CRD#:3538)
• John Hancock Distributors (CRD#:468)
• John Hancock Mutual Life Insurance Company (CRD#:5181)     
• Soares Financial Group (CRD#:16286)
• Fahnestock & Company (CRD#:249)
• B.C. Christopher Securities Company (CRD#:60)
• Mutual Benefit Financial Service Company (CRD#:4882)
• PML Securities Company (CRD#:4082)
• E.I. Sales (CRD#:1703)

Kurta Law Can Help

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. If you worked with Timothy Sherer and you have concerns about your investments, contact a New York investment fraud lawyer today for a free case evaluation. Call (877) 600-0098 or email info@kurtalawfirm.com.