Advisor Alert: Our Attorneys Are Investigating Arthur Bruce McQuaide For Investment Fraud
Did You Lose Money Because of Arthur McQuaide?
Filed: January 16, 2024
Arthur McQuaide has been the subject of one (1) regulatory event and one (1) customer complaint. As an investor, you may be entitled to compensation for losses accrued due to mismanagement of your investments.
Let’s begin our Patil Law Advisor Alert with a summary report on Arthur Bruce McQuaide.
Who Is Arthur Bruce McQuaide?
- Advisor Name: Arthur Bruce McQuaide
- Aliases: Arthur McQuaide
- CRD: 4581876
- Location: Garden City, New York
- Current Employer: Currently Not Registered
- Previous Firms: Spartan Capital Securities, LLC, Southeast Investments, N.C., Inc., and Caldwell International Securities
- Number of Known Customer Complaints: 1
- Number of Known Regulatory Events: 1
- Can Arthur McQuaide Be Sued: Yes, in Private Arbitration
- Can Arthur McQuaide’s Employers Be Sued For Failing to Supervise Actions: Yes, in Private Arbitration
- Highest Damages Allegation: $92,000
- Highest Settlement: $5,000
If you have suffered investment losses by Arthur McQuaide, we strongly encourage you to exercise your rights to experienced legal representation. Recover what is owed to you by retaining an investment fraud lawyer. Reach out to the legal team at Patil Law, P.C. via the secure online form or call the firm directly toll-free at 1-800-950-6553.
Customer Complaints Filed Against Arthur McQuaide For Broker Misconduct
As of this publication date, Arthur McQuaide has been the subject of 1 regulatory event and 1 customer dispute. Let’s review them below.
In December 2023, FINRA initiated a regulatory event against or in reference to Arthur McQuaide. Without admitting or denying the findings, McQuaide consented to the sanction and to the entry of findings that he engaged in excessive and quantitatively unsuitable trading in two senior customer’s accounts. The findings stated that McQuaide’s customers relied on his advice and routinely followed his recommendations and, as a result, McQuaide exercised de facto control over their accounts. As a result of McQuaide’s trading, the customers suffered collective realized losses of $190,839, while paying total trading costs of $201,684, including commissions of $160,360.
In January 2020, a FINRA arbitration was filed against or in reference to Arthur McQuaide by a customer of Spartan Capital Securities, LLC alleging misrepresentation and unsuitable recommendations. Per the customer, he/she lost over $92,000 because of Mr. McQuaide’s actions. On February 22, 2022, Mr. McQuaide settled the claim for $5,000, and some or all of this amount may have been paid by Mr. McQuaide’s employer and/or insurance carrier.
How To File A Claim Against Arthur McQuaide (previously with Spartan Capital Securities, LLC, Southeast Investments, N.C., Inc., and Caldwell International Securities) To Get Your Money Back.
If you have questions about Arthur McQuaide, Spartan Capital Securities, LLC, Southeast Investments, N.C., Inc., Caldwell International Securities, or the management or performance of your accounts, please contact Attorney Patil for a free initial consultation via email or toll free at 1-800-950-6553.