The law firm of Oakes & Fosher is presently investigating the possible misconduct of securities broker Reynold Frank Vaughan III. According to his publicly available FINRA BrokerCheck report, Reynold Frank Vaughan III has been the subject of multiple customer disputes over the course of his career.
Reynold Frank Vaughan III is a New York based securities broker. He has worked in the securities industry for thirty-five years. During his career, he has been registered with ten different securities firms.
His Registrations
- Merrill Lynch (1982-1988)
- Shearson Lehman Hutton (1988-1990)
- Dean Witter Reynolds (1990-1991)
- Reich & Co. (1991-1994)
- Fahnestock & Co. (1994)
- Kirlin Securities (1996-2004)
- Great Eastern Securities (2004-2007)
- Maximum Financial Investment Group (2007-2008)
- Prestige Financial Center (2008-2009)
- SW Financial (2009-Present)
The Allegations
- In July 1989, a customer alleged that Reynold Frank Vaughan III engaged in unauthorized trading and charged them unauthorized margin interest. This case was settled for $18,000.
- In August 1989, a customer alleged that Reynold Frank Vaughan III executed unauthorized trades. This case was settled for $72,000.
- In May 2003, a customer alleged that Reynold Frank Vaughan III executed unsuitable transactions, engaged in unauthorized trading, and excessively traded their account. This case was settled for $250,000.
- In January 2008, Reynold Frank Vaughan III was terminated from his position at Maximum Financial Investment Group due to allegations of engaging in unauthorized trading and charging excessive commissions.
- In June 2009, Reynold Frank Vaughan III was officially sanctioned by FINRA. The findings in this matter state that he made unsuitable investment recommendations. They were deemed unsuitable by FINRA based on the customer’s financial situation and needs. Due to these allegations, he was suspended from acting as a securities broker for a period of four months.
- In April 2018, a customer alleged that Reynold Frank Vaughan III churned their account, handled their account negligently, recommended unsuitable investments, executed unauthorized trades, and breached contract. This case was settled for approximately $15,000 in damages.
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 Reynold Frank Vaughan III, please contact Oakes & Fosher for a free and private consultation.
