Concerned about investment losses with Austin Dutton & Newbridge Securities?
The White Law Group continues to investigate potential claims involving financial advisor Austin Dutton and his former employer Newbridge Securities. If you have suffered losses investing with Austin Dutton, the securities attorneys at the White Law Group may be able to help you.
Financial Advisor Austin R. Dutton Jr. (CRD#: 2739167) has a staggering number of customer complaints filed against him – 25 with two currently pending, according to his broker profile at BrokerCheck.org. Allegations include unsuitability, negligence and misrepresentation, among others. FINRA launched an investigation on March 29, 2021, making a preliminary determination to recommend that disciplinary action be brought against Dutton alleging violations of FINRA Rules 2111 and 2010; and violations of FINRA Rules 4511 and 2010.
In July 2017, Dutton was reportedly fined $200,000 for allegations of “dishonest or unethical practices in the securities business,” according to the Pennsylvania Department of Banking and Securities.
The Pennsylvania state regulator also reportedly fined Newbridge Securities $499,000 for failing to supervise a broker in connection with sales of structured products to his clients in the state.
According to his FINRA BrokerCheck report, Dutton “recommended the purchase of a security to at least one customer without reasonable grounds to believe that the transaction was suitable for the customer.”
According to his broker profile, Dutton was affiliated with the following firms during his career in the securities industry:
06/15/2021 – 01/07/2022, AMERICAN TRUST INVESTMENT SERVICES, INC. (CRD#:3001), Doylestown, PA,
05/27/2020 – 06/09/2021, AMERICAN TRUST INVESTMENT SERVICES, INC. (CRD#:3001), WHITING, IN
05/22/2019 – 06/04/2020, PRIMEX (CRD#:29394), NEW YORK, NY
07/21/2017 – 09/07/2017, CENTER STREET SECURITIES, INC. (CRD#:26898), DOYLESTOWN, PA
08/08/2007 – 08/10/2017, NEWBRIDGE SECURITIES CORPORATION (CRD#:104065), DOYLESTOWN, PA
Potential Lawsuits to Recover Investment Losses
Brokerage firms are required to properly supervise their advisors. They must ensure that those advisors are complying with applicable FINRA rules and regulations. If it can be demonstrated that Austin Dutton’s former employers failed to properly supervise him, the firm may be held responsible for the losses in a FINRA arbitration claim.
If you are concerned about your investments with Austin Dutton and would like a free consultation to discuss your litigation options, please call The White Law Group at 1-888-637-5510.
The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Seattle, Washington.
For more information on The White Law Group, visit www.WhiteSecuritiesLaw.com.
To learn more about the firm’s investigation, please see:
Pennsylvania Fines Broker Austin Dutton $200,000
Newbridge Securities sued for Unsuitable Investments
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