Securities Lawyers Blog
The securities lawyers of Gana Weinstein LLP are investigating customer complaints against broker Clarence Mark Tingle (Tingle). In addition, The Financial Industry Regulatory Authority (FINRA) brought an enforcement action (FINRA No. 2014042951501) against Tingle. There are at least 2 customer complaints against Tingle and 1 regulatory action. The customer complaints against Tingle allege a number of securities law violations including that the broker made unauthorized trading, excessively traded accounts, and failed to follow instructions among other claims.
The most recent customer complaint was filed in October 2014 and alleges excessive trading from September 2011 through July 2014 causing $40,954 in damages.
In a FINRA regulatory action against Tingle, the agency alleged that between August 2009 and June 2014, Tingle at times exercised discretion in the accounts of six customers without first obtaining the customers’ written authorization. Although the customers orally authorized the use of discretion Tingle failed to obtain their written authorization in violation of industry rules.