Thomas J. Buck Allegedly Trades Numerous Customer Accounts Excessively

The law firm of Oakes & Fosher is presently investigating the alleged misconduct of former securities broker Thomas J. Buck. According to his publicly available FINRA BrokerCheck report, Thomas J. Buck has been the subject of numerous customer disputes.

Thomas J. Buck was an Indianapolis based securities broker. He worked in the securities industry for thirty-three years. He spent his career registered with just two different securities firms. He is no longer working as a registered securities broker in any fashion.

His Registrations

• Merrill Lynch (1981-2015)


• RBC Capital Markets (2015)

The Allegations 

• In May 2006, customers alleged that Thomas J. Buck charged them excessive fees and made an unauthorized purchase. This case was settled for $75,000 in damages.


• In March 2015, a customer alleged that Thomas J. Buck traded their account excessively. This case was settled for $300,000 in damages.


• In April 2015, customers alleged that Thomas J. Buck made unauthorized trades in their account. This case was settled for $210,000 in damages.


• Also in April 2015, a customer alleged that Thomas J. Buck made material misrepresentations. This case was settled for $49,500 in damages.


• In April 2015, a customer, through her attorney, alleged that Thomas J. Buck excessively traded their account and executed unsuitable transactions. This case was settled for $140,000 in damages.


• In May 2015, customers alleged that Thomas J. Buck misrepresented the details of the investments, excessively traded their account, and made unsuitable investment recommendations. This case was settled for $275,000 in damages.


• Also in May 2015, a customer alleged that Thomas J. Buck executed unauthorized trades. This case was settled for $300,000 in damages.


• In June 2015, customers alleged that Thomas J. Buck executed unauthorized trades and made material misrepresentations. This case was settled for $600,000 in damages.


• In July 2015, a customer alleged that Thomas J. Buck misrepresented the details regarding commissions charged between January 2009 and March 2015. This case was settled for $719,014 in damages.


• In January 2016, customers alleged that Thomas J. Buck made misrepresentations and omissions of material facts. This case was settled for $430,000 in damages.

In October 2017, Thomas J. Buck was officially sanctioned by the United States Securities and Exchange Commission. The findings in this matter state that he conveyed to customers that the total commissions they would have to pay annually would not exceed a certain amount. However, the commissions that these investors ended up owing to him allegedly exceeded the annual amount he promised it would not. Due to these alleged actions, Thomas J. Buck was ordered to pay over $2.5 million in disgorgement. Thomas J. Buck was eventually barred by United States Securities and Exchange Commission from acting as a securities broker in any fashion. The above mentioned complaints were just some of the complaints filed due to the alleged actions of Thomas J. Buck.

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 Thomas J. Buck, please contact Oakes & Fosher for a free and private consultation. Oakes & Fosher handles cases on a contingency basis, which means there are no fees charged unless we collect for you.