There are options for clients of Spartan Capital Securities, LLC broker John Lowry (CRD# 4336146) who suffered investment losses. He has been registered with Spartan Capital Securities, LLC in New York, New York, since 2008.

In October 2021, “Lowry was a named respondent in a FINRA complaint alleging that he willfully failed to amend, or to timely amend, his Form U4 to disclose arbitration filings and resolutions thereof. The complaint alleges that Lowry was named as a respondent in, or was the subject of, multiple consumer-initiated arbitrations alleging that he was involved in one or more sales practice violations. Lowry was obligated to amend his Form U4 to disclose the filing and resolution of each customer arbitration against him within 30 days of learning of the filing and outcome. Despite Lowry being made aware of his disclosure failures, he has still not amended his Form U4 to disclose almost all of the arbitrations against him.”

In November 2024, FINRA identified him as a respondent in a complaint, accusing him of failing to promptly provide requested information and documents during his time as CEO, only doing so after the agency issued two follow-up requests and began two expedited proceedings to enforce compliance. It is alleged that FINRA began investigating the firm’s sales of membership interests in unregistered private funds, an OBA of John Lowry and the Chief Administration Officer (CAO). “FINRA’s requests sought information and documents about the private funds and later sought information and documents relating to the firm’s net capital calculations,” according to FINRA. The agency alleges that after delegating his responsibility for supervising the firm’s compliance and his responsibility for some of FINRA’s requests to the CAO, he did not review his delegations of authority to ensure that they were being properly exercised. He also allegedly failed to intervene and take corrective measures as necessary after learning of red flags suggesting that the CAO was not carrying out delegated authorities.

John Lowry Customer Complaints

He has been the subject of 12 customer complaints between 2009 and 2024, two of which were closed without action, according to his CRD report. The most recent complaints are regarding: 

July 2024. “Failure to Supervise.” The customer is seeking $375,000 in damages. The complaint was regarding common and preferred stocks. 

April 2024. “Unsuitable recommendations and failure to supervise.” The customer is seeking $1,590,434.34. The complaint was regarding equity OTC and common and preferred stocks. 

November 2022. “August 2015 through July 2022. Failure to Supervise.” The customer is seeking $247,262 in damages. The complaint was regarding private investments. 

August 2021. “Time Frame: August 2015 to September 2015. Alleged Allegations: Unsuitable Investment, Breach of Fiduciary Duty, Negligence, Breach of Contract.” The customer sought $1,410,000 in damages, and the case was settled for $75,000. The complaint was regarding private investments. 

June 2020. “Lowry was named in a customer complaint that asserted the following causes of action: Reasonable-Basis Suitability Obligations to Claimants; Specific Suitability Obligations to Claimants; Quantitative Suitability Obligations to Claimants; Failure to Supervise; and Violations of FINRA Rule 2010.” The customer is seeking $240,000 in damages and the case is currently pending. 

May 2019. “Claimant filed a counter claim as a retaliation tactic alleging misrepresentations.” The case was settled. 

November 2017. “Time Frame: August 2016 through October 2017. Failure to Sup[REDACTED]ervise.” The customer sought $184,241 in damages, and the case was settled for $60,000. The complaint was regarding common and preferred stocks. 

October 2017. “Time Frame: 12/2008 through 08/2017. failure to supervise.” The customer sought $98,974 in damages, and the case was settled for $37,500.

December 2016. “There are no specific allegations against applicant. Applicant was solely named due to his position at the Firm with no basis.” The customer sought $721,070 in damages and the case was settled for $210,000.

April 2016. “Claimant alleges that his account was mismanaged by his registered representative. There are no specific allegations against the applicant.” The customer was granted $41,842 in damages. The complaint was regarding equity OTC.

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, Spartan Capital Securities, LLC may be liable for investment or other losses suffered by John Lowry’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.