Charles Anderson – Charles Matthew Anderson, Financial Advisor Suspended from Securities Industry

Charles Anderson – Charles Matthew Anderson, Financial Advisor Suspended from Securities Industry | Goodman & Nekvasil P.A., May Recover Investor Losses

Charles Anderson CRD #1494859

Charles Anderson was formerly licensed with Purshe Kaplan Sterling Investments and Morgan Stanley. FINRA reports that Charles Anderson was suspended from the securities industry for four months in December 2017.

According to FINRA: Charles Anderson consented to the sanctions and to the entry of findings that Charles Anderson engaged in an unsuitable pattern of short-term trading of Unit Investment Trusts (UITs) in customers’ accounts. The findings stated that in connection with the customers’ accounts, Charles Anderson repeatedly recommended that the customers purchase UITs and then sell these products well before their maturity dates. The majority of the UITs that Charles Anderson recommended had maturity dates of at least 24 months and carried sales charges ranging from 1.95 percent to 3.95 percent. Nevertheless, Charles Anderson repeatedly recommended that his customers sell their UIT positions less than a year after purchase. Indeed, the average holding period for the UITs purchased in these customers’ accounts was 202 days. In addition, on 26 occasions, Charles Anderson recommended that his customers use the proceeds from the short-term sale of a UIT to purchase another UIT with identical investment objectives. Charles Anderson’s recommendations caused the customers to incur unnecessary sales charges and were unsuitable in view of the frequency and cost of the transactions.

If you lost money on investments with Charles Anderson and believe the investments may have been unsuitable or otherwise improper for you, we would like to discuss the possibility of your retaining our firm to represent you in an arbitration action concerning Charles Anderson’s conduct. There is no charge for an evaluation of your case. Further, we handle our cases on a contingency fee basis. This means that unless we recover money for you, we charge no attorney’s fee. Unless you recover any money, you pay us nothing, not even the costs and expenses which the firm will advance on your behalf.

Kalju Nekvasil, Esq., formerly regional counsel with the NASD, now known as FINRA, has practiced in this area of the law for more than 35 years. Goodman & Nekvasil, P.A. has recovered more than $180 million on behalf of victimized investors. If you lost money on investments with Charles Anderson and would like your case evaluated by a securities attorney (again, there is no charge for an evaluation and all cases are handled on a purely contingency fee basis), please contact us. 

Investment Fraud Attorney, Stockbroker Misconduct Disciplinary Actions, Unsuitable Investment Advice, Investment Fraud, Churning, Misrepresentation and Omission of Material Facts, Elder Fraud, Unauthorized Trading, Theft, Selling Away, Unapproved Outside Business, Nationwide, PIABA, SEC, Securities Exchange Commission, NASD, National Association of Securities Dealers, NASDAQ, Dow Jones, Wall Street, New York Stock Exchange

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