Switch to ADA Accessible Theme
Close Menu
Free Consultation: 888-976-6111

Ex-Vestech Broker Randy Carpen Barred: Excessive Trading Allegations

Former St. Louis-based broker Randy Carpen (CRD# 2469877) was recently the subject of a disciplinary action by the Financial Industry Regulatory Authority barring him in connection to allegations he engaged in excessive trading in a customer account.

According to a Letter of Acceptance, Waiver and Consent (No. 2017052698601) dated January 2020, Randy Carpen was associated with Freedom Investors as a General Securities Representative and General Securities Principal from 2015 to 2017, and with Vestech Securities as a General Securities Representative and General Securities Principal from 2017 until he voluntarily terminated his association in May 2018. FINRA sent him a request on January 15, 2020 for documents and information in connection with its investigation into whether he “among other things, excessively traded a customer account while… associated with Freedom Investors and Vestech Securities.” FINRA requested production of these materials by January 24, 2020. On January 17, 2020, Carpen informed FINRA via phone call that he had received its request for documents and information, but that he would not produce them. FINRA found this refusal to violate FINRA Rules 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 indefinite bar commenced on January 31, 2010.

Randy Carpen is currently not registered as a broker or investment adviser. His previous registrations include Vestech Securities, IBN Financial Services, Freedom Investors Corporation, IFS Securities, Newbridge Securities Corporation, Westpark Capital, CBG Financial Group, EKN Financial Services, Jesup & Lamont Securities, Gunnallen Financial, First Montauk Securities, First Liberty Investment Group, VTR Capital, Sovereign Equity Management Corporation, Biltmore Securities, GKN Securities, and First United Equities. He has passed four securities industry qualifying examinations: Securities Industry Essentials Examination, or SIE; Uniform Securities Agent State Law Examination, or Series 63; General Securities Representative Examination, or Series 7; and General Securities Principal Examination, or Series 24. His BrokerCheck report lists zero state securities licenses. (Information current as of May 20, 2020.)

Facebook Twitter LinkedIn
Contact Us For A Free Case Evaluation
Latest Blog Posts
  • UBS Adviser Alex Williams: Investor Alleges Unsuitable Options Investment

    Alex Williams (CRD# 2646185), a broker and investment adviser based in New York, has received a pending customer complaint. According...

    Read More
  • $600K Options Complaint Against Los Angeles Broker Bill Calvert

    Financial Industry Regulatory Authority (FINRA) records indicate that UBS Financial Services broker Bill Calvert (CRD# 1023796) has received a pending...

    Read More
  • UBS’ Timothy Croak: Unsuitable Options Strategy Allegations

    Timothy Croak (CRD# 840899), a New York City-based broker and investment adviser, has received a pending customer complaint, according to...

    Read More
  • Wendy Holmes: UBS Adviser Has $1.4M in Pending Options Overlay Complaints

    Wendy Holmes (CRD# 2944190), a broker and investment adviser registered with UBS Financial Services, has received two pending customer complaints...

    Read More
  • Previous
  • Next