Charles Taylor: FINRA Complaint Alleges Undisclosed, Unapproved Precious Metal OBA

Charles TaylorPublicly available records provided by the Financial Industry Regulatory Authority (FINRA) and accessed on December 18, 2018 indicate that Arizona-based Royal Alliance Associates broker/adviser Charles Taylor, who has received a customer dispute, was recently named in a pending FINRA complaint alleging he participated in an unapproved and undisclosed outside business activity. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Taylor (CRD# 443066).

Charles Taylor has spent 37 years in the securities industry and has been registered with Royal Alliance Associates in Prescott, Arizona since 1989. Previous registrations include Integrated Resources Equity Corporation (1987-1989) and Financial Planners Equity Corporation (1981-1987). He has passed six securities industry examinations: Series 65 (Uniform Investment Adviser Law Examination), which he obtained on December 22, 1995; Series 63 (Uniform Securities Agent State Law Examination), which he obtained on November 10, 1982; SIE (Securities Industry Essentials Examination), which he obtained on October 1, 2018; Series 1 (Registered Representative Examination), which he obtained on May 10, 1969; Series 51 (Municipal Fund Securities Principal Examination), which he obtained on March 20, 2003; and Series 24 (General Securities Principal Examination), which he obtained on August 5, 1982. He is a registered broker and investment adviser with 30 US states and territories.

According to his BrokerCheck report, he has received one pending regulatory complaint, one customer complaint, and one customer complaint that was denied.

In November 2018 he was named respondent in a FINRA complaint alleging he participated in an undisclosed, unapproved outside business activity involving the referral of individuals including firm customers to a dealer of precious metal bullion coins, for which he received referral fees totaling about $10,081. FINRA’s complaint also alleges he failed to reasonably supervise two other representatives who allegedly participated in similar referral activities, and failed to take reasonable steps to determine whether the referral of firm customers was prohibited by firm policies, which it was. The complaint remains pending.

In 2016 a customer alleged Charles Taylor, while employed at Royal Alliance Associates, misrepresented the risks associated with a stop-loss order. The customer sought $42,120 in damages in the complaint, which was denied.

In 1992 a customer alleged Charles Taylor, while employed at Financial Planners Equity Corporation, Integrated Resources Equity Corporation and Royal Alliance Associates, participated in unspecified misconduct involving the sales of public limited partnerships between 1982 and 1986. The complaint settled in 1994 for $87,500.

If you or someone you know has complaints regarding Charles Taylor, call Fitapelli Kurta at 877-238-4175 for a free consultation. You may be entitled to recover lost funds. All cases are taken on a contingency basis: we only receive payment if and when you collect money. Time to file your claim may be limited, so we suggest you avoid delay. Call 877-238-4175 now to speak to an attorney for free.