Securities Lawyers Blog
According to the BrokerCheck records kept by Financial Industry Regulatory Authority (FINRA) broker Leonard McAbee (McAbee) has been the subject of at least three customer complaints, one regulatory action, one judgment and/or lien, and one employment separation. The customer complaints against McAbee allege a number of securities law violations including that the broker made unsuitable investments, unauthorized trading, and churning (excessive trading), among other claims. The regulatory action against McAbee involved allegations that McAbee made trades in an account at the direction of a third-party without a properly signed power of attorney.
McAbee entered the securities industry in 1990. From April 2011 till present McAbee has been registered as a broker with National Securities Corporation.
All advisers have a fundamental responsibility to deal fairly with investors including making suitable investment recommendations. Many of the claims against McAbee involving claims of unauthorized trading, churning, and excessive trading.