Former Largo, Florida stockbroker Nathan Katz (CRD# 846475) was the subject of a recent Financial Industry Regulatory Action sanction connected...Read More
Charles Euler: Radnor Broker Barred Over Alleged Unsuitable Trades
Charles Euler (CRD# 202696), a financial professional previously registered with Janney Montgomery Scott, has been sanctioned by the Financial Industry Regulatory Authority over allegations he refused to cooperate with an investigation into whether he made unsuitable trades. Formerly a representative of the firm’s office in Radnor, Pennsylvania, he was barred from acting as a broker.
According to a Letter of Acceptance, Waiver and Consent (No. 2016051156902) dated April 2020, Charles Euler was associated with Janney Montgomery Scott as a General Securities Representative, General Securities Principal, and Financial and Operations Principal from 1984 until 2018, when the firm filed notice that he had voluntarily terminated his registrations. FINRA later initiated an investigation into whether he “made unsuitable recommendations.” In connection with this investigation, FINRA sent him a request on March 12, 2020 to provide on-the-record testimony, as it is authorized to do by FINRA Rule 8210, which also states that no person under FINRA’s jurisdiction shall fail to provide testimony pursuant to the rule. FINRA’s findings go on to state that Euler indicated in an email to FINRA via counsel on March 13, 2020 that he had received its request for testimony but would not appear to provide such “at any time.” FINRA concludes that this refusal constituted violations of FINRA Rule 8210 and 2010. As a result of the foregoing alleged conduct, he was barred from associating with any FINRA member firm in any capacity.
His BrokerCheck report also lists several recent customer complaints against him. One 2018 complaint alleged that as a representative of Janney Montgomery Scott, he recommended unsuitable investments that resulted in over-concentration and losses; the complaint reached a settlement of $45,000. A 2016 complaint alleged that as a representative of Janney Montgomery Scott, he misrepresented and omitted material facts, recommended unsuitable investments, and executed unauthorized transactions; the complaint reached a settlement in 2017 of $350,000.
Charles Euler is currently not registered as a broker or investment adviser. His previous registrations include Janney Montgomery Scott and Euler & Company. He has passed five securities industry qualifying examinations and his BrokerCheck report lists zero state securities licenses. (Information current as of June 3, 2020.)