The law firm of Oakes & Fosher is presently investigating the possible misconduct of former securities broker Brenda Ann Smith. According to her publicly available FINRA BrokerCheck report, Brenda Ann Smith has been the subject of a customer complaint.

Brenda Ann Smith operated most recently as a Pennsylvania based securities broker. She worked in the securities industry for twelve years. During her career, she was registered with six different securities firms.

Her Registrations

  • The Kildare Capital (2006-2008)
  • Drexel Hamilton (2007-2010)
  • DSRM Brokerage (2010-2011)
  • Cretus Securities (2009-2011)
  • MCG Securities (2012-2013)
  • CV Brokerage (2010-2019)

The Allegations

In December 2018, a customer alleged that Brenda Ann Smith engaged in fraud, breached her fiduciary duty, breached contract, and engaged in unlawful conversion. This case is currently pending. The customer is seeking $3,341,500 in damages.

What Does This Mean?

Securities brokers are obligated to always act in the best financial interests of their customers. This obligation is also referred to as their fiduciary duty. This fiduciary duty is essential for the relationship between investors and brokers to work. Investors would not be able to leave their money with another individual if they could not trust that their it will be taken care of. The only reason that this trust exists is because securities brokers are bound by a duty to always act in their customer’s best financial interests.

Oakes & Fosher Can Help

Many investors are unaware of the legal recourse available to them after losing money due to securities broker fraud and/or negligence. The truth is that investors who have lost money in this fashion may actually be entitled to damages.

The law firm of Oakes & Fosher dedicates its entire legal practice to helping investors across the nation. If you, or someone you know, have lost money investing with Brenda Ann Smith, please contact Oakes & Fosher for a free and private consultation.