Greenwood Village, Colorado stockbroker and investment adviser Brian Marston (CRD# 733083) is involved in pending investor disputes. According to the...Read More
Charles Bloom: FINRA Bars Royal Palm Beach Financial Advisor
A disciplinary action taken by the Financial Industry Regulatory Authority against former Royal Palm Beach, Florida broker and investment advisor Charles Bloom (CRD# 4144108) barred him after finding he refused to appear for testimony during FINRA’s investigation into possible unsuitable trading. A former representative of Chelsea Financial Services, Bloom was barred from acting as a broker or otherwise associating with a broker-dealer firm.
According to a Letter of Acceptance, Waiver and Consent (No. 2017056067501) dated July 2018, Charles Bloom was registered with Chelsea Financial Services when, in October 2017, FINRA initiated an investigation concerning allegations he “engaged in an unsuitable pattern of trading in at least three customer accounts.” Pursuant to this investigation, FINRA sent him a request on June 21, 2018 to appear and provide on-the-record testimony. Bloom indicated to FINRA in a phone call on July 3, 2018 that he was in receipt of its request but would not appear “at any time” to provide the testimony it sought. FINRA found this refusal to constitute violations of FINRA Rules 8210 and 2010. As a result of the foregoing alleged conduct, Bloom was barred from associating with any FINRA member in any capacity.
This was not FINRA’s first disciplinary action against Charles Bloom: in 2008, the regulator suspended him for 20 days in connection to allegations he settled a customer complaint away from his member firm; he was also ordered to pay a fine of $5,000.
Charles Bloom’s disclosure records also list two customer complaints against him, one settled and one pending. One complaint, filed in 2006, alleged that as a representative of 1st Discount Brokerage, he “initiative active trading” that resulted in “significant losses” in a customer’s account; the complaint reached a settlement of $50,000. And a pending complaint filed in 2017 alleges that as a representative of International Assets Advisory, he misrepresented and recommended an unsuitable real estate investment trust (REIT) purchase; the complaint alleges damages of $99,326.84.
Charles Bloom is currently not registered as a broker or investment advisor. His employment history includes Chelsea Financial Services in Royal Palm Beach, Florida; International Assets Advisory in West Palm Beach, Florida; IAA Financial in West Palm Beach, Florida; US Brokerage in Wellington, Florida; 1st Discount Brokerage in Delray Beach, Florida; 1st Discount Brokerage in Lake Worth, Florida; and Acument Securities in San Francisco, California. He currently holds zero state licenses and has passed four securities industry qualification examinations.