Dudley Stephens was a New York-based securities broker. He worked in the securities industry for seventeen years. During his career, he was registered with fifteen different securities firms.
His registrations included; Continental Broker-Dealer Corp. (2000), Max International Broker/Dealer Corp. (2000, 2002-2004), D.L. Cromwell Investments (2000), Preston Langley Asset Management (2001), Continental Broker-Dealer Corp. (2001-2002), Pruco Securities Corporation (2002), SWS Financial Services (2004), Aura Financial Services (2004-2005), Wallstreet Electronica, Inc. (2005-2008), Brookstone Securities, Inc. (2008-2011), HSBC Securities (2011-2013), Prospera Financial Services (2014-2016), and Coastal Equities, Inc. (2016-2018). He is no longer working as a registered securities broker in any fashion.
Dudley Stephens’ publicly available FINRA BrokerCheck report shows that he has received multiple customer complaints over the course of his career.
In November 2004, a customer alleged churning, unsuitable investments, unauthorized trading, and negligence. This case was settled for $15,000 in damages.
In April 2014, a customer alleged that Dudley Stephens placed in investments that went against her request of no risk.
In July 2018, he was discharged from his position at Coastal Equities during a review of suspicious letters of authorization concerning third-party wires.
In December 2018, a customer alleged excessive and unauthorized commissions were charged over a two and a half year period. The customer also alleged that Stephens invested her in a sham investment which resulted in the complete loss of her investment. This case was settled for $41,250 in damages
In February 2019, a customer alleged unauthorized trading, excessive trading, and unsuitable investment recommendations. This case is currently pending. The customer is seeking $500,000 in damages.
Dudley Stephens was eventually barred by FINRA from acting as a securities broker in any fashion following allegations that he failed to respond to their request for information.
Oakes & Fosher dedicates its entire legal practice to helping investors across the nation. If you, or someone you know, have lost money investing with Dudley Stephens, please contact Oakes & Fosher for a free and private consultation.