Public records provided by the Financial Industry Regulatory Authority (FINRA) and accessed on April 11, 2018 indicate that former Maryland-based Wilmington Capital Services broker/adviser Walter Clark has been sanctioned by FINRA in connection to alleged rule violations and barred from acting as a broker or otherwise associating with a broker-dealer firm. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Clark (CRD# 1803139).
Walter Clark has spent 28 years in the securities industry and was most recently registered with Wilmington Capital Services in Columbia, Maryland (2015-2016). Previous registrations include Adirondack Trading Group in Columbia, Maryland (2014-2015); Southeast Investments in Charlotte, North Carolina (2014); Newbridge Securities Corporation in Columbia, Maryland (2011-2014); International Financial Solutions in Columbia, Maryland (2011); Summit Brokerage Services in Columbia, Maryland (2008-2011); Westrock Advisors in Columbia, Maryland (2002-2008); Pro-Integrity Securities in Longview, Texas (2000-2002); JWGenesis Financial Services in St. Louis, Missouri (1999-2000); Gruntal & Company in New York, New York (1995-2000); Wheat First Securities in Charlotte, North Carolina (1990-1995); and the Stuart-James Company in Denver, Colorado (1988-1990). He has passed four securities industry examinations: Series 65 (Uniform Investment Adviser Law Examination), which he obtained on January 15, 1998; Series 63 (Uniform Securities Agent State Law Examination), which he obtained on October 12, 1988; Series 7 (General Securities Representative Examination), which he obtained on June 18, 1988; and Series 24 (General Securities Principal Examination), which he obtained on February 29, 2000. He is currently not registered with any state or firm.
According to his BrokerCheck report, he has received four customer complaints, two pending customer complaints, and one regulatory sanction.
In March 2018 a customer alleged Walter Clark, while employed at Newbridge Securities, Adirondack Trading Group, Leigh McCobb Garber and Wilmington Capital Securities, made unauthorized and unsuitable investment recommendations. The customer is seeking $190,000 in damages in the pending complaint.
In March 2018 a customer alleged Walter Clark, while employed at Newbridge Securities, Adirondack Trading Group, Leigh McCobb Garber and Wilmington Capital Securities, executed unauthorized trades, recommended unsuitable investments, breached his fiduciary duty, and churned the account. The customer is seeking $190,000 in damages in the pending complaint.
In November 2017 FINRA sanctioned him in connection to allegations he failed to respond to a request for information. He was barred from acting as a broker or otherwise associating with a broker-dealer firm.
In 2014 he was “permitted to resign” from his position at Nwebridge Securities Corporation while under internal review for failure to follow firm policies and procedures regarding the use of correspondence and advertising.
In 1994 a customer alleged he, while employed at Walter Clark, made unauthorized trades, recommended unsuitable investments, misrepresented material facts, and churned the account. The complaint resulted in an award to the customer of $85,000.
If you have lost money investing with Walter Clark, you may be able to recover your losses. Call Fitapelli Kurta at 877-238-4175 for a free consultation. All cases are taken on a contingency basis: Fitapelli Kurta only gets paid if and when you collect funds. Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.