New York Securities Fraud Lawyers Blog
The securities and investment fraud attorneys at Malecki Law are interested in hearing from investors who have complaints against Florida stockbroker John T. Keyser. Mr. Keyser is reportedly registered with Dawson James Securities, Inc. in Boca Raton, Florida. Industry records indicate that Mr. Keyser has also recently been registered with Viewtrade Financial and SAL Financial Services.
According to BrokerCheck, as maintained by the Financial Industry Regulatory Authority (“FINRA”), Mr. Keyser has been the subject of three customer complaints and a suspension of his license.
In 1998, Mr. Keyser reportedly had his FINRA (then NASD) license to sell securities suspended for failing to pay an arbitration award against him.
FINRA records indicate that in 2002, Mr. Keyser was the subject of a customer complaint for unauthorized trading while he was with SAL Securities.
In 2006, another customer complaint was filed against Mr. Keyser for failing to place a stoploss order while with Dawson James Securities, per BrokerCheck.
In 2010, a customer filed a claim alleging churning, intentional and negligent misrepresentation, unsuitability, breach of fiduciary duty and unauthorized trading in an account for whom Mr. Keyser was the broker of record at Dawson James, according to FINRA.
Unauthorized trading occurs when a broker executes trades in the customer’s “non-discretionary” account without the customer’s consent or prior authorization. In a non-discretionary account, the broker is supposed to speak with the customer prior to executing trades. On the other hand, when a broker has discretion over a customer’s account, the broker is free to trade in the account without speaking to the customer first. In this type of relationship, there is a fiduciary duty between the broker and customer.
A problem (and securities law violation) arises when a broker who does not have discretion over a customer’s account begins trading without speaking to the customer. Frequently, unauthorized trades are executed by brokers to generate higher commissions for the broker or to invest the customer in riskier investments than would be appropriate for the customer, in our experience.
Our office has successfully represented many clients who have been the victims of unauthorized trading in recovering the losses suffered in their accounts. If you or a family member suffered losses with John T. Keyser and Dawson James Securities, you are encouraged to contact the securities and investment fraud lawyers at Malecki Law for a free consultation and case evaluation at (212) 943-1233.
Malecki Law has successfully brought securities actions on behalf of investors who suffered losses as a result of unscrupulous actions taken in their securities accounts, recovering millions of dollars for their clients.
Malecki Law takes a proactive and informed approach to the financial news of today: actively engaging in fact-finding analysis on prospective cases from around the world. Our thorough knowledge of securities law’s history and fine points makes us ideal consultants for investors who have suffered losses due to misadvice from their broker or other financial counsel.