Publicly available records recently provided by the Financial Industry Regulatory Authority (FINRA) indicate that broker/advisor Charles J. Euler, Jr. (CRD # 202696), formerly with Radnor, PA based Janney Montgomery Scott LLC (CRD # 463) was recently barred from the securities industry by FINRA’s Department of Enforcement. The sanction occurred as a result of an investigation into whether he made unsuitable recommendations to customers. The Law Office of Kevin J. Deloatch, Esq. is interested in speaking to investors who have complaints regarding Mr. Euler, Jr.
Registration Background for Charles J. Euler, Jr.
Mr. Euler, Jr. first became registered in the securities industry in 1970 and was most recently registered with Janney Montgomery Scott LLC from December 1984 to April 2018. His prior registrations include Euler & Co. (CRD # 1767) from July 1970 to December 1984.
FINRA’s Finding and Conclusions against Charles J. Euler, Jr.
FINRA’s investigation led to Mr. Euler, Jr. entering into a Letter of Acceptance, Waiver and Consent (AWC) with FINRA on April 13, 2020. According to the AWC dated April 13, 2020, Mr. Euler, Jr. consented to, without either admitting to or denying, the following findings by FINRA’s Department of Enforcement:
- On March 12, 2020, FINRA staff sent Mr. Euler, Jr. a request to appear for on-the record testimony pursuant to FINRA Rule 8210, in connection with an investigation into whether he made unsuitable recommendations to customers;
- In response to FINRA’s request, Mr. Euler, Jr. informed FINRA on March 13, 2020 through his counsel, that he had received the request but “will not appear for on-the-record testimony at any time”; and
- By refusing to appear for on-the-record testimony, Mr. Euler, Jr. violated FINRA Rule 8210 and FINRA Rule 2010.
FINRA Sanctions Charles J. Euler, Jr.
As a result of such violations and in addition to the above described findings and conclusions, FINRA’s April 13, 2020 AWC also indicates that Mr. Euler, Jr. consented to the sanction of being barred from association with any FINRA member firm in any and all capacities.
Charles J. Euler, Jr. has a History of Customer Complaints
In addition to the above findings in the April 13, 2020 AWC, FINRA BrokerCheck for Charles J. Euler, Jr. reveals he has a history of securities related customer complaints/arbitrations regarding unsuitable recommendations:
- On June 4, 2018, a customer initiated a written complaint against Mr. Euler, Jr. The complaint alleged damages in the amount of $77,313.04 for causes of action that included unsuitable recommendations which resulted in over-concentration and losses. The complaint was settled on July 10, 2018 for the sum of $45,000.00.
- On May 5, 2016, a customer initiated a written complaint against Mr. Euler, Jr. that evolved into an arbitration on July 25, 2016. The complaint did not specify damages but alleged Mr. Euler, Jr. “misrepresented and omitted information about securities purchased in the account, made unsuitable investments and executed unauthorized trades.” The complaint was settled on December 21, 2017 for the sum of $350,000.00, with Mr. Euler, Jr. personally contributing $5,000.00.
- On May 9, 2016, a customer initiated a written complaint against Mr. Euler, Jr. that evolved into an arbitration on July 25, 2016. The complaint did not specify damages but alleged Mr. Euler, Jr. “misrepresented and omitted information about securities purchased in the account, made unsuitable investments and executed unauthorized trades.” The complaint was settled on December 8, 2017 for the sum of $250,000.00, with Mr. Euler, Jr. personally contributing $5,000.00.
- On April 5, 2016, a customer initiated arbitration named Mr. Euler, Jr. as a Respondent. The Complaint alleged damages in the amount of $157,000.00 while alleging Mr. Euler, Jr. “made unsuitable investments in their account.” The arbitration was eventually settled on March 15, 2018 for the sum of $40,000.00, with Mr. Euler, Jr. personally contributing $5,000.00.
- On January 27, 2016, a customer initiated arbitration named Mr. Euler, Jr. as a Respondent. The Complaint alleged damages in the amount of $300,000.00 and alleged Mr. Euler, Jr. made unsuitable investments in their account. The arbitration was eventually settled on January 19, 2017 for the sum of $75,000.00, with Mr. Euler, Jr. personally contributing $5,000.00.
- On January 23, 2017, a customer initiated arbitration named Mr. Euler, Jr. as a Respondent. The Complaint alleged damages in the amount of $320,000.00 and alleged Mr. Euler, Jr. “recommended investments that were unsuitably risky and concentrated which resulted in unbalanced portfolios and losses in her accounts.” The arbitration was eventually settled on October 30, 2017 for the sum of $150,000.00, with Mr. Euler, Jr. personally contributing $5,000.00.
If you or someone you know has or had a brokerage account with Mr. Charles J. Euler, Jr. and have concerns regarding losses in your investments or possible fraud, you may be entitled to recover lost funds. The Law Office of Kevin J. Deloatch, Esq. has an extensive securities law practice and over 30 years of experience on Wall Street. Call today at (646) 792-2156 for a free consultation. The time to file your claim may be limited so you should call today to avoid delay.
