The law firm of Oakes & Fosher is presently investigating the alleged misconduct of former securities broker Nathaniel Royce Clay. According to his publicly available FINRA BrokerCheck report, Nathaniel Royce Clay has been the subject of multiple customer disputes.

Nathaniel Royce Clay was a New York based securities broker. He worked in the securities industry for sixteen years. During his career, he was registered with four different securities firms.

His Registrations

  • Kuhns Brothers Securities Corporation (2002-2003)
  • Casmir Capital (2002-2008)
  • National Securities Corporation (2008-2015)
  • Laidlaw & Company (2015-2019)

The Allegations

  • In June 2008, a customer alleged that Nathaniel Royce Clay excessively traded their account and engaged in an improper use of margin trading. This case was settled for $42,000 in damages.
  • In December 2015, customers alleged that Nathaniel Royce executed unauthorized trades, handled their account negligently, breached his fiduciary duty, and made material misrepresentations. This case is currently pending. The customer is seeking $513,218 in damages.

What Does This Mean?

Misrepresentation occurs when a securities broker provides an investor with falsified information about their investments or potential investments. Sometimes, brokers will do this on purpose in an attempt to defraud investors. However, most of the time this occurs through the broker’s own negligence and failure to perform their duties adequately. Regardless of the broker’s intent, misrepresentation can lead to serious financial detriment to investors because it can lead to them making financial decisions based on misinformation.

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.

Oakes & Fosher dedicates its entire legal practice to helping investors across the nation. If you, or someone you know, have lost money investing with Nathaniel Royce Clay, please contact Oakes & Fosher for a free and private consultation.