Thomas Patrick Beattie (CRD#: 1321866) is a general
securities representative who disclosed a pending consumer-initiated,
investment-related complaint from April 16, 2018 containing allegations against
Beattie of committing sales practice violations while registered with CP
Capital Securities (Miami, Florida) and Dakota Securities International, Inc.
(Miami, Florida), which caused the customer to experience losses on mutual
funds, over-the-counter equities and other investments. The customer has
alleged $250,000.00 in damages.
According to FINRA BrokerCheck, this is the fourth
consumer-initiated, investment-related dispute in which Beattie’s sales
practices have been called into question. The first complaint, dated May 12,
2011, involved allegations of nine unauthorized equity trades having been
executed in a customer’s account when Beattie was registered with Great
American Advisors, Inc. (Homestead, Florida). The customer alleged damages of
$19,038.00.
A second complaint, dated February 11, 2013, alleged that Beattie
misrepresented the customer’s information, and recommended unsuitable penny
stock and corporate debt investments for the customer’s account while
registered with Lincoln Investment (Homestead, Florida). That customer’s
complaint was settled for $5,609.82. The third complaint, which is currently
pending, concerned Beattie’s activities when registered with CP Capital
Securities (Miami, Florida) and Dakota Securities International, Inc., where
the customer alleged poor investment performance and excessive trading in the
customer’s account between March 1, 2016 and January 1, 2018. The customer alleged $251,000.00 in damages.
Beattie has additionally disclosed three regulatory actions regarding
allegations of his misconduct. In particular, the Florida Department of Banking
and Finance, Division of Securities and Investor Protection, authorized Beattie’s
application for registration in the state subject to a Heightened Supervision Agreement
containing restrictions on him from serving in a principal capacity in the
securities industry or exercising discretion in customer accounts. (Case#:
88.206.DOS). The sanctions were based upon allegations that Beattie effected
unauthorized trades in customer accounts and accrued customer complaints.
Subsequently, to resolve allegations of Beattie’s excessive
and unsuitable trading in customer accounts, Beattie entered into a Stipulation
and Consent Agreement with the Florida Division of Securities and Investor
Protection, where he was ordered to pay a $5,000.00 fine and his registration
was suspended. (Case#: 2824-S-6/99).
Beattie is no longer registered with Dakota Securities
International, Inc. He has been registered with SW Financial (Melville, New
York) since July 31, 2018.
If you believe you are a victim of sales practice violations
such as those alleged to have been committed by Thomas Patrick Beattie, contact
the Law Office of Peter M. Spett for a complimentary consultation to evaluate
your legal rights and claims.
