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FINRA Bars Broker Scott Palmer

https://www.silverlaw.com/blog/wp-content/uploads/2017/07/FINRA-Permanently-Bars-Raymond-T.-Clark-from-Securities-Industry-300x281.jpgFINRA has barred former financial advisor and broker Scott Palmer (CRD #817586) after multiple customer disputes. His last employer was Janney Montgomery Scott, LLC (CRD #463) of Hackensack, NJ, from 03/02/2007 to 06/13/2017. He was allowed to resign after “Loss of Confidence related to complaint disclosure history.”  

Palmer is not currently registered as a broker or investment advisor, and no record of current employment is available. He is barred from any and all affiliations with any FINRA member firm, in any capacity.

Palmer was previously employed with:

  • Citigroup Global Markets, Inc. (CRD #7059) in Ridgewood, NJ, from 06/22/1994 through 02/01/2007
  • Dean Witter Reynolds (CRD #7556) in Purchase, NY from 02/24/1978 through 06/09/1994
  • Dean Witter & Co., (CRD #6466) from 01/27/1976 through 02/24/1978 (no location listed)
  • Darby & Co. (CRD #5455), from 01/02/1973 through 04/15/1976 (no location listed)

FINRA requested information and on-the-record testimony in relation to his termination by Janney Montgomery Scott. He specifically declined to appear and testify in this matter. After Palmer’s decline, and without admitting or denying findings, FINRA issued an Acceptance, Waiver & Consent (AWC) letter, which he signed on 3/22/2018. The bar was effective as of 04/10/2018. He has no prior disciplinary action from FINRA or other regulatory agencies.

Five customer disputes are currently pending, dated from 07/14/2017 through 03/27/2018, all alleging “unsuitable investments,” (some list energy sector.) Requested damages for these disputes total $665,001.

Palmer has been the subject of multiple previous customer disputes dating back to 1988. Damages in these cases totaled $552,652, and were settled for a total of $282,500.

Have You Invested With Scott Palmer?

If you’ve had financial dealings with Scott William Palmer, and need help, contact us today.  Silver Law Group represents investors in securities and investment fraud cases. Our lawyers are admitted to practice in New York and Florida and represent investors nationwide to help recover investment losses due to stockbroker misconduct. If you have any questions about how your account has been handled, call to speak with an experienced securities attorney. Most cases handled on a contingent fee basis. You won’t pay legal fees unless we win your case.

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