Moloney Securities Co., Inc. broker Jeffrey Cohen (CRD# 2528929) is accused of unsuitable investment recommendations. He has been registered with Moloney Securities Co., Inc. in Manchester, Missouri since 2015.
In June 2023, he was barred by FINRA after he “consented to the sanction and to the entry of findings that he declined to produce information or documents requested by FINRA during the course of its investigation that originated from allegations regarding the sale of securities through one of his prior OBAs in an arbitration matter disclosed on his Form U4.”
Jeffrey Cohen Customer Complaints
He has been the subject of six customer complaints between 2001 and 2021, according to his CRD report. Recent complaints are regarding:
December 2021. “Claimant alleges illiquid alternative investments were misrepresented and unsuitable resulting in a Breach of Fiduciary Duty and Negligence.” The customer sought $5,000 in damages, and the case was settled for $200,000. The complaint took place while he was registered with Western International Securities, Inc., and it was regarding real estate investment trusts (REITs).
July 2021. “It is alleged that the Registered Representative made an unsuitable recommendation for the client to invest in alternative investments. 2016.” The customer sought $150,000 in damages, and the case was settled for $80,000. The complaint took place while he was registered with Moloney Securities Co., Inc., and it was regarding direct investments.
July 2020. “It was alleged that during the period of time during which the registered representative is and/or has been registered with the firm and/or as further specified in allegations filed with the Financial Industry Regulatory Authority (FINRA), certain customer(s) and/or purchaser(s) of certain investments and/or securities expressed concerns concerning suitability and/or declines in portfolio values and/or other alleged concerns about such purchases, by filing such allegations with the Financial Industry Regulatory Authority (FINRA) on July 7, 2020.” The customer sought $800,000 in damages, and the case was settled for $350,000. The complaint was regarding direct investments.
April 2020. “It is alleged that the Registered Representative made unsuitable recommendations.” The customer sought $500,000 in damages, and the case was settled for $95,000. The complaint took place while he was registered with Moloney Securities Co., Inc. and was regarding direct investments.
March 2020. “It is alleged that the Registered Representative made unsuitable recommendation(s). Sept 2016 – Current.” The customer sought $700,000 in damages, and the case was settled for $125,000. The complaint took place while he was registered with Moloney Securities Co., Inc. and was regarding direct investments.
February 2020. “It is alleged that the Registered Representative made unsuitable recommendation(s).” The customer sought $200,000 in damages, and the case was settled for $100,000. The complaint took place while he was registered with Moloney Securities Co., Inc. and was regarding direct investments.
August 2019. “It is alleged that the Registered Representative made an unsuitable recommendation for the client to invest in alternative investments.” The customer sought $2 million in damages, and the case was settled for $714,000. The complaint took place while he was registered with Moloney Securities Co., Inc. and was regarding direct investments.
August 2019. “It is alleged that the Registered Representative made an unsuitable recommendation for the client to invest in alternative investments.” The customer sought $3 million in damages, and the case was settled for $700,000. The complaint took place while he was registered with Moloney Securities Co., Inc. and was regarding direct investments.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, Moloney Securities Co., Inc. may be liable for investment or other losses suffered by Jeffrey Cohen’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.
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