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Clifford Vatter Discharged From His Position At Raymond James Following Allegations Of Unauthorized Trading

By March 26, 2019 No Comments

Clifford Vatter was a Kentucky based securities broker. He worked in the securities industry for thirty-four years. During his career, he was registered with four different securities firms.

His registrations include; J.C. Bradford & Co. (1983-2000), UBS Painewebber Inc. (2000-2002), Morgan Keegan & Company (2002-2013), and Raymond James (2013-2017). He is no longer working as a registered securities broker in any fashion.

Clifford Vatter’s publicly available FINRA BrokerCheck report shows that he has received multiple customer complaints over the course of his career.

In January 1999, a customer alleged that Vatter made an unsuitable investment recommendation. This case went to arbitration where the customer was awarded $30,000 in damages.

In May 1999, a Catholic parish alleged that Vatter made unauthorized and unsuitable purchases of high yield bonds in accounts containing cemetery and school funds. This case was settled for $150,000 in damages.

In April 2001, customers alleged misrepresentation and unsuitable investment recommendations concerning high yield muni bonds. This case was settled for $250,000 in damages.

In April 2009, a customer alleged that Clifford Vatter made unauthorized withdrawals. The customer also alleged that Vatter provided him with incorrect information regarding taxes. This alleged action resulted in significant financial loss, tax liability, penalties, interest, and accounting fees. This case was settled for $13,300 in damages.

In September 2016, a customer alleged unsuitable investments, misrepresentation, omission, breach of contract, constructive fraud, breach of fiduciary duty, negligence, and violations of the Kentucky Securities Acts. This case was settled for $250,000 in damages.

In July 2017, Clifford Vatter was discharged from his position at Raymond James. This termination followed allegations that he executed unauthorized trades in a customer’s account. He was sanctioned by the state of Kentucky in March 2018 for the same allegations and was in turn barred from acting as a securities broker in any fashion in the state of Kentucky.

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