James Ciocia (CRD# 1619245), a financial advisor in Tampa, Florida, has received investor complaints alleging six-figure damages. Financial Industry Regulatory...Read More
C. Chance Carson: $300K L-Bond Complaint Against Colorado Springs Rep
Colorado Springs broker and financial advisor C. Chance Carson (CRD# 41892), who was recently sanctioned by the Securities and Exchange Commission, has received a pending investor complaint alleging six-figure damages. Financial Industry Regulatory Authority records show that he is a representative of Intervest International Equities Corporation, doing business as C. Chance Carson and Associates.
Mr. Carson’s BrokerCheck report discloses one pending investor complaint. Filed in March 2022, it alleges that as a representative of Intervest International Equities Corporation, he inappropriately sold investments in L-bonds and preferred GWG stock. The pending complaint alleges damages of approximately $300,000.
In June 2021 the SEC sanctioned Mr. Carson in relation to allegations he breached his fiduciary duty when selling certain unit investment trust and mutual fund securities and an interval fund security. According to a disclosure on his BrokerCheck report, he recommended and purchased “standard” UIT units with transactional sales charges on behalf of advisory client accounts “even though the accounts were eligible to purchase identical ‘Fee Account Unit’ versions of the UITs that bore no transactional sales charges.” He also allegedly recommended and purchased, on behalf of advisory client accounts, mutual and interval fund shares with front-end sales loads even though the accounts were similarly eligible to purchase shares without those sales loads. The SEC found that these purchases resulted in the payment of “approximately $378,295.36 in avoidable transaction costs, all of which Intervest International Equities Corporation (“IIEC”), Intervest’s wholly-owned subsidiary and the introducing broker on the transactions, collected as commissions.” Of that sum, 70% was passed by the firm to Carson, according to the SEC, which alleged further that he and the firm “failed to disclose the resulting conflicts of interest associated with these practices.” The SEC issued Mr. Carson a cease-and-desist order, fined him $50,000, and ordered him to pay $264,806.75 in disgorgement.
According to the Financial Industry Regulatory Authority, C. Chance Carson holds 49 years of securities industry experience. Based in Colorado Springs, Colorado, he has been a representative of Intervest International Equities Corporation, doing business as C. Chance Carson and Associates, since 2003. His past registrations include McDonald Investments (Colorado Springs, Colorado; 2001-2003), Intervest International (Colorado Springs, Colorado; 2003), First Union Securities (St. Louis, Missouri; 1990-2001), Boettcher & Company (1972-1990). and Anchor Financial Services (1974). His credentials include the passage of seven securities industry qualifying exams: the Uniform Investment Adviser Law Examination, or Series 65; the Uniform Securities Agent State Law Examination, or Series 63; the Securities Industry Essentials Examination, or SIE; the NYSE Allied Member Examination, or Series 41; the AMEX Put and Call Exam, or PC; the Registered Representative Examination, or Series 1; and the Registered Principal Examination, or Series 40. He is licensed in Arizona, California, Colorado, Iowa, Nebraska, and Ohio. (Information current as of May 21, 2022.)
Carlson Law represents investors throughout the United States in claims against financial advisors and investment firms. If you or a loved one have suffered investment losses, please call us at 888-976-6111 or complete our contact form for a free and confidential consultation.