Churning a brokerage account refers to the excessive buying and selling of securities by a broker for the primary purpose...
Read MoreDebra Bourne: New Complaint Against Red Bank Advisor
Financial Industry Regulatory Authority (FINRA) records show that former First Standard Financial Company broker Debra Bourne (CRD# 1352344) has an investor complaint alleging damages of $2 million. Bourne was most recently based in Red Bank, New Jersey.
Debra Bourne’s BrokerCheck report lists a total of three pending investor complaints and two settled investor complaints against her.
The most recent complaint was filed in April 2019. It alleges that as a representative of First Standard Financial, Debra Bourne engaged in excessive trading and made unsuitable recommendations of common and preferred stock products. The pending complaint alleges damages of $2 million.
Another complaint filed in 2019 alleges that as a representative of First Standard Financial Company, Oppenheimer & Company, and National Securities Corp., Debra Bourne executed unauthorized transactions and made unsuitable investment recommendations. The pending complaint alleges damages of $668,000.
A complaint filed in 2019 alleged that as a representative of National Securities Corporation, Debra Bourne made unsuitable recommendations of common and preferred stock investments, engaged in excessive trading, breached her fiduciary duty to act in the investor’s best interests, and was negligent in her duties. In 2020 the complaint reached a settlement of $270,000.
According to Financial Industry Regulatory Authority (FINRA) records, Debra Bourne is currently not registered as a broker or investment adviser. Her prior registrations include First Standard Financial Company in Red Bank, New Jersey; National Securities Corporation in Red Bank, New Jersey; Oppenheimer & Company in Red Bank, New Jersey; Janney Montgomery Scott in Red Bank, New Jersey; Morgan Stanley DW in Purchase, New York; First Union Securities in St. Louis, Missouri; and First Union Capital Markets in Charlotte, North Carolina. She has passed three securities industry qualifying examinations: the Uniform Securities Agent State Law Examination, or Series 63; the Securities Industry Essentials Examination, or SIE; and the General Securities Representative Examination, or Series 7. Her BrokerCheck report lists zero state securities licenses. (Information current as of July 14, 2021.)
