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Read MoreRobert Clarke: Complaints Against Texas Broker
Investor complaints against Austin, Texas broker Robert Clarke (CRD#: 735940) allege conduct including suitability violations, supervisory failures, negligence, improper margin use, and other activity undertaken at Ross Sinclaire & Associates and other firms. He is employed with National Alliance Securities in Austin, Texas, where he has been registered since 2017, according to information drawn from Financial Industry Regulatory Authority records.
Robert Clarke allegedly violated suitability rules when he recommended mortgage-backed investments to an investor, according to a 2018 complaint concerning his conduct at Ross Sinclaire & Associates. The complaint reached a settlement of $30,000.
Robert Clarke was named in a May 2019 complaint by Kentucky securities regulators, alleging he “placed trades in customer accounts” when he was not registered as a broker-dealer agent. The pending action, which concerns his conduct at National Alliance Securities, seeks a cease-and-desist order, revocation of his registration, and civil and administrative penalties and/or fines.
This is not the first complaint against him by state securities regulators. In 1999, Mr. Clarke was sanctioned by the Alabama Securities Division over allegations he engaged in several hundred securities transactions while unregistered in the state. He was issued a cease-and-desist order.
Another investor complaint, filed in 2017, alleged false representations made in connection to recommendations of collateralized mortgage obligations while he was registered with Ross Sinclaire & Associates. The complaint reached a settlement of $125,000.
A 2016 complaint concerning Robert Clarke’s conduct at Ross Sinclaire & Associates also alleged false representations made about collateralized mortgage obligations that were unsuitable for the investor. The complaint reached a settlement of $120,000.
Mr. Clarke allegedly violated suitability rules, failed to uphold his fiduciary duty to act in his customers’ best interests, and was negligent in his duties, according to a 2014 complaint concerning his conduct at Ross Sinclaire. This complaint reached a settlement of $77,205.
Robert Clarke’s current employment with National Alliance Securities in Austin, Texas began in 2017. His employment history includes Ross Sinclaire & Associates, Mesirow Financial, The GMS Group, Geneva Securities, Ruan Securities Corporation, JW Charles Securities, Westcap Securities, TMA Government Securities, Lasater & Company, Crews & Associates, and Bache Halsey Stuart Shields. He has passed three securities industry qualification examinations and holds six state registrations. (Information current as of August 8, 2019.)
