Call Now for a Free Consultation
(888) 637-5510

Written by 3:34 pm Blog, Current Investigations, Securities Fraud

Charles L. Bloom Barred from Securities industry

Charles L. Bloom

Charles L. Bloom – Chelsea Financial Services –Royal Palm Beach, FL

According to the Financial Industry Regulatory Authority (FINRA), the regulator has permanently barred financial advisor Charles L. Bloom (CRD#: 4144108) from the securities industry.

In October 2017, FINRA staff reportedly commenced an investigation into allegations that Bloom engaged in an unsuitable pattern of trading in at least three customer accounts. In connection with that investigation, on June 21, 2018, FINRA staff sent a request to Bloom for on-the-record testimony.

As stated in a phone call with F1NRA staff on July 3, 2018, and by this agreement, Bloom reportedly acknowledges that he received FINRA’s request and will not appear for on-the-record testimony at any time.

According to Bloom’s FINRA BrokerCheck report, he was registered with Chelsea Financial Services in Royal Palm Beach, FL from January 2016 until July 2018. Bloom has reportedly worked for 7 different firms since beginning his career in the securities industry in 2002.

According to his BrokerCheck report, he has received three regulatory sanctions, one customer complaint and one pending customer complaint, and he resigned from a former employer in connection to alleged rule violations. Bloom also reportedly filed for bankruptcy in April 2015.

According to FINRA, the pending customer complaint from November 2017 is for “Unsuitable Recommendation and misrepresentation with regard to a REIT purchase.”

For FINRA’s full findings see FINRA case #2017056067501.

Failure to Supervise

The White Law Group is investigating the liability that Charles L. Bloom’s employers may have for failing to properly supervising him.

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 Bloom’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 Charles L. Bloom 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 Franklin, Tennessee.




Tags: , , , , , , , , , , , , , , , , , Last modified: April 10, 2023