Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) on November 7, 2016 indicate that New York-based American Capital Partners broker/adviser Eric Drewes has been the subject of customer complaints. The securities and investment fraud law firm Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Drewes (CRD# 2187363).
Eric Drewes has spent 24 years in the securities industry and has been registered with American Capital Partners in Hauppage, New York since 2002. Previous registrations include Milestone Financial Services in Bohemia, New York; Royce Investment Group in Woodbury, New York; Kensington Wells; Rickel & Associates in New York, New York; and South Richmond Securities, which has been expelled by FINRA. He is a registered broker and investment adviser with 51 US states and territories.
According to his BrokerCheck report, Eric Drewes has received two customer complaints.
In 2014 a customer alleged Eric Drewes, while employed at American Capital Partners, made unsuitable recommendations and churned the account. The complaint settled in 2015 for $110,000.
In 2008 a customer alleged Eric Drewes, while employed at American Capital Partners, failed to supervise in relation to excessive trading and unauthorized transactions. The complaint settled in 2009 for $12,795.
FINRA Rule 3110(a)(2) requires broker-dealer firms to assign “an appropriately registered principal(s)” to perform supervisory duties for every type of business the firm conducts. Principals are required to ensure the compliance of individual representatives as well as the firm as a whole. Relevant issues include the representatives’ character and qualifications, outside employment, and regulation of business transactions. Representatives may not engage in outside business activities or securities transactions without providing written notice to their supervising principals. Principals who fail in their supervisory duties may be subject to disciplinary action by FINRA or the Securities and Exchange Commission.
If you or someone you know has lost money investing with Eric Drewes, call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. You may be eligible to recoup your losses. Fitapelli Kurta accepts all cases on a contingency basis: we only get paid if and when you collect money. 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.