Robert Todd Clark Barred By FINRA Following Allegations Of Converting Customer Funds

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

Robert Todd Clark was a Massachusetts based securities broker. He worked in the securities industry for forty-two years. During his career, he was registered with eleven different securities firms. He is no longer working as a registered securities broker in any fashion.

His Registrations

• Bache & Co. (1975-1978)


• Drexel Turnham Lambert Incorporated (1978-1979)


• E.F. Hutton & Company (1979-1985)


• William Blair & Company (1985-1987)


• Bear, Sterns & Co. (1987-1989)


• Morgan Stanley (1989-1991, 1997-2013)


• CS First Boston Corporation (1991-1993)


• S.G. Warburg & Co. (1993-1994)


• Donaldson Lufkin & Jenrette Securities (1994-1995)


• Cowen & Co. (1995-1997)


• Moors & Cabot (2013-2018)

• In April 1992, customers alleged that they did not authorized the purchase of 1,000 shares of Immunex common stock. This case was settled for $44,500 in damages.


• In April 2003, a customer alleged that Robert Todd Clark breached his fiduciary duty. This case was settled for $41,250 in damages.


• In February 2013, a customer alleged that Robert Todd Clark engaged in unauthorized trading. This case settled for $34,000 in damages.


• In May 2013, Robert Todd Clark was discharged from his position at Morgan Stanley. This followed allegations that he exercised discretion in multiple client accounts without authorization.


• In July 2018, Robert Todd Clark was discharged from his position at Moors & Cabot. This followed allegations that he failed to obtain prior approval for an alleged loan from a customer.


• In September 2018, Robert Todd Clark was officially sanctioned by FINRA. The findings in this matter state that he failed to comply with an investigation into allegations that he withdrew customer funds without authorization and used the funds for his own purposes. Due to his alleged failure to comply, he was barred by FINRA from acting as a securities broker in any fashion.

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 Robert Clark, please contact Oakes & Fosher for a free and private consultation.