Suing Broker Russell W. Newton

According to broker Russell W. Newton’s Financial Industry Regulatory Authority (FINRA) BrokerCheck report, he was suspended from the industry for 20 days and fined $10,000 on July 14, 2014. Allegedly, Newton failed to supervise several brokers out of the Bowling Green, Kentucky office of Source Capital. He entered into a Letter of Acceptance, Waiver and Consent (AWC) with FINRA that alleged that two brokers at the branch made misstatements in sales pitches to potential customers in order to induce them into investing with Argyle Securities.

In 2001, the Utah Division of Securities fined him $25,000 for failing to supervise brokers who were selling unregistered securities.

In 2000, the Florida Division of Securities and Investor Protection fined him $30,000 for operating an unregistered office, Merit Capital Associates, Inc., in the state.

In 1999, Newtown was fined $180,000 for paying $167,500 in commissions to brokers who were disqualified from working in the industry.

Mr. Newtown has been associated with Gabriele, Hueglin & Cashman Inc., L.F. Rothschild, Unterberg, Towbin, Prescott, Ball & Turven, Glen Rauch Securities, Pendrick Reeves Associates, and Merit Capital Associates. He is currently registered with Source Capital Group in Westport, Connecticut since December 2001. He has one customer dispute against him. If you would like to bring a claim against Russell W. Newton, you may do so by calling Stoltmann Law Offices at 312-332-4200 and discussing your options with an attorney. The call is free with no obligation.

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