Published On: November 1, 2017

According to a recent Complaint with the Securities and Exchange Commission (SEC), Thomas J. Buck allegedly executed a fraudulent scheme to obtain excessive commissions and fees by making material misrepresentations and omissions to certain customers and investment advisory clients regarding the fees or commissions charged in their accounts. He also allegedly exercised discretion by placing certain trades in certain customer accounts without obtaining authorization from the customer. These are against securities laws. Thomas J. Buck also entered into a Letter of Acceptance, Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA). According to the AWC, Buck engaged in misrepresentations and other misconduct in the handling of customer accounts. Since 2009, he pursued unethical and improper business practices, which generated increased commissions and revenues and enhanced his status as a top-producing broker. He held customer assets in commission-based accounts instead of fee-based accounts in order to generate higher revenues, although he knew that some customers would have paid substantially lower fees by using fee-based accounts. He also exercised discretion in customer accounts without written or oral authorization and made unauthorized trades in certain customer accounts. He was recently barred from the industry.
Buck was registered with Merrill Lynch in Indianapolis, Indiana from December 1981 until April 2015, and RBC Capital Markets in Indianapolis from April 2015 until recently. He has 32 customer disputes against him, one of which is currently pending. He is not registered with any member firm and has been barred from the industry. If you lost money with Thomas J. Buck, please call our securities law firm at 312-332-4200. We sue firms such as RBC Capital Markets for failure to properly supervise Buck while he was employed with them. This firm can be held liable for financial losses for this reason.

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