Securities Lawyers Blog
According to records kept by The Financial Industry Regulatory Authority (FINRA), former Capitol Securities Management (Capitol Securities) employee Teryl Trenchard (Trenchard) in under investigation for fraud. In March 2017 FINRA initiated its investigation into Trenchard for fraud. On the same day Capitol Securities terminated Trenchard for the same reason. Thereafter, in July 2017 a customer filed a complaint alleging breach of fiduciary duty, conversion, and unsuitable investments causing $700,000 in damages. The claim is currently pending.
Thereafter, in September 2017 another customer alleged that from 2005 to March 15, 2017 Trenchard engaged in misappropriation, forgery, fraud, and unauthorized trading in unsuitable transactions. The customer alleged $1,800,00 in damages. The claim is currently pending.
At this time it is unclear the extent and scope of Trenchard’s securities violations and the exact details of the fraud under investigation. Trenchard’s CRD lists a business called Market Technician’s Association and no other businesses.