Articles Tagged with mutual funds

The securities fraud attorneys at Malecki Law are interested in hearing from investors who have complaints against stockbroker Rudolf Malebranche.  Mr. Malebranche was employed and registered with Santander Securities LLC.  He was previously registered with J.P. Morgan Securities LLC, Chase Investment Securities Corp., Wachovia Securities, Morgan Stanley DW, Inc., Prudential Securities, Inc. and Whale Securities Co., L.P., according to his publicly available BrokerCheck, as maintained by the Financial Industry Regulatory Authority (FINRA).

According to his BrokerCheck report, a Letter of Acceptance, Waiver and Consent (AWC) was accepted by FINRA stating that Mr. Malebranche was fined $5,000 and suspended from associating with any broker-dealer for three months as a result of submitting a switch form, which authorized the sale of two mutual funds, after himself filling in the customer’s initials on the form without the authorization from the client.  As a result of this conduct, Mr. Malebranche was also discharged from employment with J.P. Morgan Securities LLC, according to industry records.

Mr. Malebranche also was the subject of a customer complaint alleging unsuitability in connection with the sale of a fixed annuity, resulting in $15,892.28 repaid to the customer (more than the $15,650 requested), according to the BrokerCheck report.