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Ted Oakley: SEC Investigating Herdon Plant Oakley Advisor

Corpus Christi financial advisor Ted Oakley (CRD# 813008) is under investigation by the Securities and Exchange Commission in connection with alleged rule violations. Financial Industry Regulatory Authority records show that the Herndon Plant Oakley broker is also registered as an investment advisor with Oxbow Advisors.

Mr. Oakley’s BrokerCheck report discloses the SEC investigation into his conduct. Filed in May 2023, the disclosure describes a proposed enforcement action alleging “violations of Sections 10(b) of the Exchange Act of 1934 (“Exchange Act”) and Rule 10b-5 thereunder.” The proposed enforcement action has not yet evolved into an actual enforcement action.

Rule 10b-5 of the Exchange Act of 1934 concerns the “Employment of Manipulative and Deceptive Practices.” It specifically makes it unlawful for those conducting securities business to “employ any device, scheme, or artifice to defraud,” to make untrue statements of material facts or to omit material facts, and to “engage in any act, practice, or course of business which operates or would operate as a fraud or deceit upon any person.”

A second disclosure on Mr. Oakley’s BrokerCheck report relates to an investor complaint against him. Filed in 1998, the complaint alleged that as a representative of Dain Rauscher, he recommended unsuitable investments, churned the investor’s account, and committed fraud. In 1999 the complaint reached a settlement of $50,000.

According to the Financial Industry Regulatory Authority, Ted Oakley holds 47 years of securities industry experience. Based in Corpus Christi, Texas, he has been a broker with Herndon Plant Oakley since 1998 and an investment advisor with Oxbow Advisors since 2011. His past registrations include Dain Rauscher (New York, New York; 1998), Rauscher Pierce Refsnes (Dallas, Texas; 1985-1998), Rotan Mosle (1976-1985), and Merrill Lynch )1975-1976). His credentials include the passage of seven securities industry qualifying exams: the General Securities Principal Examination, or Series 24; the General Securities Representative Examination, or Series 7; the AMEX Put and Call Exam, or PC; the Securities Industry Essentials Examination, or SIE; the Operations Professional Examination, or Series 99TO; the Uniform Securities Agent State Law Examination, or Series 63; and the Uniform Investment Adviser Law Examination, or Series 65. He holds 37 state licenses. (Information current as of July 8, 2023.)

Carlson Law represents investors throughout the United States in claims against financial advisors and investment firms. If you or a loved one have suffered investment losses, please call us at 888-976-6111 or complete our contact form for a free and confidential consultation.

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