Glen Rauch, a former registered broker with Avenir Group, recently entered into an Order Accepting Offer of Settlement with the Financial Industry Regulatory Authority (FINRA). Mr. Rauch was accused of committing “an array of serious sales practice violations that demonstrated dishonesty, evasiveness and a disregard for FINRA rules. Rauch’s misconduct caused customer losses.” This occurred from August 2013 until February 2016, while he was registered with Avenir. Mr. Rauch also allegedly unsuitably concentrated a customer’s account and recommended 10 unsuitable options transactions. The customer was an unsophisticated one of modest means, according to the Offer of Settlement. Mr. Rauch also mismarked or caused others to mismark electronic order tickets for 10 transactions as “unsolicited” when the transactions were solicited, in order to create the impression that the same customer understood and controlled his own account, including the unsuitable options trading strategy, when he did not. He also allegedly mismarked 64 separate order tickets as “unsolicited” when they were solicited, between July and August 2014, when he effected 16 unsuitable options transactions. These are all against securities rules and regulations.
Mr. Rauch was registered with Tasin & Company, Weatherly Securities Corp, Ehrenkrantz King Nussbaum, JP Turner & Co., Gunnallen Financial, National Securities Corp, Obsidian Financial Group, Charles Vista LLC, Rockwell Global Capital, and Avenir Financial Group in Syosset, New York from August 2013 until February 2016. He has nine customer disputes against him, one of which is currently pending and three criminal dispositions. He is not licensed within the industry, according to his FINRA online BrokerCheck report.
Please call our Chicago-based securities law firm today if you lost money with Glen Rauch. We may be able to bring legal recourse against his former firm, Avenir Financial Group, for not properly supervising him while he was registered there, allowing him to transgress. We sue firms such as Avenir in the FINRA arbitration forum on a contingency fee basis only, which means we do not make money unless you recover yours. Please call today. There is no obligation. 312-332-4200.