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BrokerCheck Report
HOWARD ALAN SLATER
Report #85949-85534, data current as of Thursday, April 11, 2013.
Section Title
Report Summary
Broker Qualifications
Registration and Employment History
Disclosure Events
CRD# 2447823
1
2 - 3
4 - 5
6
Page(s)
About BrokerCheck®
BrokerCheck offers information on all current-and many former-FINRA-registered securities brokers, and all current andformer FINRA-registered securities firms. FINRA strongly encourages investors to use BrokerCheck to check thebackground of securities brokers and brokerage firms before deciding to conduct, or continue to conduct, business withthem.
·· What is included in a BrokerCheck report?BrokerCheck reports for individual brokers include information such as employment history, professionalqualifications, disciplinary actions, criminal convictions, civil judgments and arbitration awards. BrokerCheckreports for brokerage firms include information on a firm’s profile, history, and operations, as well as many of thesame disclosure events mentioned above.Please note that the information contained in a BrokerCheck report may include pending actions or allegationsthat may be contested, unresolved or unproven. In the end, these actions or allegations may be resolved in favorof the broker or brokerage firm, or concluded through a negotiated settlement with no admission or finding ofwrongdoing.
·· Where did this information come from?The information contained in BrokerCheck comes from FINRA’s Central Registration Depository, or CRD® and isa combination of:
o information FINRA and/or the Securities and Exchange Commission (SEC) require brokers andbrokerage firms to submit as part of the registration and licensing process, and
o information that regulators report regarding disciplinary actions or allegations against firms or brokers.
·· How current is this information?Generally, active brokerage firms and brokers are required to update their professional and disciplinaryinformation in CRD within 30 days. Under most circumstances, information reported by brokerage firms, brokersand regulators is available in BrokerCheck the next business day.
·· What if I want to check the background of an investment adviser firm or investment adviserrepresentative?To check the background of an investment adviser firm or representative, you can search for the firm or individualin BrokerCheck. If your search is successful, click on the link provided to view the available licensing andregistration information in the SEC's Investment Adviser Public Disclosure (IAPD) website athttp://www.adviserinfo.sec.gov. In the alternative, you may search the IAPD website directly or contact your statesecurities regulator at http://www.nasaa.org.
·· Are there other resources I can use to check the background of investment professionals?FINRA recommends that you learn as much as possible about an investment professional before deciding to workwith them. Your state securities regulator can help you research brokers and investment adviser representativesdoing business in your state.
Thank you for using FINRA BrokerCheck.
For more information aboutFINRA, visit www.finra.org.
Using this site/information meansthat you accept the FINRABrokerCheck Terms andConditions. A complete list ofTerms and Conditions can befound at
For additional information aboutthe contents of this report, pleaserefer to the User Guidance orwww.finra.org/brokercheck. Itprovides a glossary of terms and alist of frequently asked questions,as well as additional resources.
brokercheck.finra.org
HOWARD A. SLATER
CRD# 2447823
This broker is not currently registered with FINRA.
Report Summary for this Broker
This report summary provides an overview of the broker's professional background and conduct. Additionalinformation can be found in the detailed report.
Disclosure Events
Disclosure events are certain criminal matters;regulatory actions; civil judicial proceedings; customercomplaints, arbitrations, or civil litigations;employment terminations; and financial matters inwhich the broker has been involved.
Are there events disclosed about this broker? Yes
The following types of disclosures werereported:
Regulatory Event
Customer Dispute
Investment Adviser RepresentativeInformation
http://www.adviserinfo.sec.gov
This individual previously was registered as aninvestment adviser representative and a broker.For more information about this individual’s recordas an investment adviser representative, visitSEC's Investment Adviser Public Disclosurewebsite at:
Broker Qualifications
This broker is not currently registered withFINRA.
This broker has passed:
2 Principal/Supervisory Exams
2 General Industry/Product Exams
1 State Securities Law Exam
Registration History
This broker was previously registered with FINRA atthe following brokerage firms:
SECURITIES AMERICA, INC.CRD# 10205MAYFIELD HEIGHTS, OH07/2005 - 02/2013
LINCOLN FINANCIAL ADVISORSCORPORATIONCRD# 3978FORT WAYNE, IN02/1994 - 07/2005
THE LINCOLN NATIONAL LIFE INSURANCECOMPANYCRD# 2580FORT WAYNE, IN02/1994 - 07/2005
www.finra.org/brokercheck User Guidance
1©2013 FINRA. All rights reserved. Report# 85949-85534 about HOWARD A. SLATER. Data current as of Thursday, April 11, 2013.
www.finra.org/brokercheck User Guidance
Broker Qualifications
Registrations
This section provides the self-regulatory organizations (SROs) and U.S. states/territories the broker is currentlyregistered and licensed with, the category of each registration, and the date on which the registration became effective.This section also provides, for every brokerage firm with which the broker is currently employed, the address of eachbranch where the broker works.
This broker is not currently registered with FINRA.
2©2013 FINRA. All rights reserved. Report# 85949-85534 about HOWARD A. SLATER. Data current as of Thursday, April 11, 2013.
www.finra.org/brokercheck User Guidance
Broker Qualifications
Industry Exams this Broker has Passed
This individual has passed 2 principal/supervisory exams, 2 general industry/product exams, and 1 statesecurities law exam.
This section includes all securities industry exams that the broker has passed. Under limited circumstances, a brokermay attain a registration after receiving an exam waiver based on exams the broker has passed and/or qualifying workexperience. Any exam waivers that the broker has received are not included below.
Exam Category Date
Principal/Supervisory Exams
General Securities Sales Supervisor - Options Module Examination 09/08/2006Series 9
General Securities Sales Supervisor - General Module Examination 11/13/2006Series 10
Exam Category Date
General Industry/Product Exams
General Securities Representative Examination 01/31/1994Series 7
Futures Managed Funds Examination 05/20/2009Series 31
Exam Category Date
State Securities Law Exams
Uniform Securities Agent State Law Examination 02/11/1994Series 63
Additional information about the above exams or other exams FINRA administers to brokers and other securitiesprofessionals can be found at www.finra.org/brokerqualifications/registeredrep/.
3©2013 FINRA. All rights reserved. Report# 85949-85534 about HOWARD A. SLATER. Data current as of Thursday, April 11, 2013.
www.finra.org/brokercheck User Guidance
Registration and Employment History
Registration History
Registration Dates Firm Name CRD# Branch Location
This broker previously was registered with FINRA at the following firms:
07/2005 - 02/2013 SECURITIES AMERICA, INC. 10205 MAYFIELD HEIGHTS, OH
02/1994 - 07/2005 LINCOLN FINANCIAL ADVISORSCORPORATION
3978 FORT WAYNE, IN
02/1994 - 07/2005 THE LINCOLN NATIONAL LIFE INSURANCECOMPANY
2580 FORT WAYNE, IN
Employment History
Employment Dates Employer Name Employer Location
Below is the broker's employment history for up to the last 10 years.
Please note that the broker is required to provide this information only while registered with FINRA and theinformation is not updated after the broker ceases to be registered. Therefore, an employment end date of"Present" may not reflect the broker's current employment status.
04/2007 - Present PLAN FOR A BETTER LIFE, INC. SOLON, OH
07/2006 - Present CEDAR BROOK FINANCIAL PARTNERS, LLC CLEVELAND, OH
07/2005 - Present SECURITIES AMERICA ADVISORS INC. MAYFIELD HEIGHTS, OH
06/2005 - Present SECURITIES AMERICA, INC. CLEVELAND, OH
05/2004 - Present PLAN FOR A BETTER LIFE, INC. SOLON, OH
01/2000 - Present HOWARD SLATER - FINRA ARBITRATOR (FORMALLY NASD)CLEVELAND, OH
04/1994 - Present CHABAD OF SOLON SOLON, OH
01/1994 - 07/2005 LINCOLN FINANCIAL ADVISORS CORPORATION CLEVELAND, OH
01/1994 - 07/2005 THE LINCOLN NATIONAL LIFE INSURANCE COMPANY CLEVELAND, OH
Other Business Activities
This section includes information, if any, as provided by the broker regarding other business activities the broker iscurrently engaged in either as a proprietor, partner, officer, director, employee, trustee, agent or otherwise. This sectiondoes not include non-investment related activity that is exclusively charitable, civic, religious or fraternal and isrecognized as tax exempt.
INSURANCE BROKER WITH VARIOUS CARRIERS.
CEDARBROOK FINANCIAL PARTNERS LLC; PRINCIPAL AND INSURANCE SALES; CLEVELAND, OH; BEGINNINGJULY 2005.- 30% TIME SPENT
FUCHS MIZRACHI SCHOOL NON-PROFIT BOARD MEMBER BOARD MEMBER 5 % TIME SPENT
PLAN FOR A BETTER LIFE S CORPORATION STRICTLY FOR TAX BENEFITS CEO 2 % TIME SPENT
FINRA ARBITRATOR-NY10% TIME SPENT
SECURITIES AMERICA ADVISORS, INC. - INVESTMENT ADVISOR REPRESENTATIVE
4©2013 FINRA. All rights reserved. Report# 85949-85534 about HOWARD A. SLATER. Data current as of Thursday, April 11, 2013.
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Registration and Employment History
Other Business Activities, continuedCEDARBROOK FINANCIAL PARTNERS LLC; PRINCIPAL AND INSURANCE SALES; CLEVELAND, OH; BEGINNINGJULY 2005.- 30% TIME SPENT
FUCHS MIZRACHI SCHOOL NON-PROFIT BOARD MEMBER BOARD MEMBER 5 % TIME SPENT
PLAN FOR A BETTER LIFE S CORPORATION STRICTLY FOR TAX BENEFITS CEO 2 % TIME SPENT
FINRA ARBITRATOR-NY10% TIME SPENT
SECURITIES AMERICA ADVISORS, INC. - INVESTMENT ADVISOR REPRESENTATIVE
5©2013 FINRA. All rights reserved. Report# 85949-85534 about HOWARD A. SLATER. Data current as of Thursday, April 11, 2013.
www.finra.org/brokercheck User Guidance
Disclosure Events
What you should know about reported disclosure events:
1. Disclosure events are certain criminal matters; regulatory actions; civil judicial proceedings; customercomplaints, arbitrations, or civil litigations; employment terminations; and financial matters in which the brokerhas been involved.
2. Certain thresholds must be met before an event is reported to CRD, for example: o A law enforcement agency must file formal charges before a broker is required to report a particular
criminal event. o A customer dispute must involve allegations that a broker engaged in activity that violates certain rules
or conduct governing the industry and that the activity resulted in damages of at least $5,000.
3. Disclosure events in BrokerCheck reports come from different sources: o As mentioned at the beginning of this report, information contained in BrokerCheck comes from brokers,
brokerage firms and regulators. When more than one of these sources reports information for the samedisclosure event, all versions of the event will appear in the BrokerCheck report. The different versionswill be separated by a solid line with the reporting source labeled.
4. There are different statuses and dispositions for disclosure events: o A disclosure event may have a status of pending, on appeal, or final.
§ A "pending" disclosure event involves allegations that have not been proven or formallyadjudicated.
§ A disclosure event that is "on appeal" involves allegations that have been adjudicated but arecurrently being appealed.
§ A "final" disclosure event has been concluded and its resolution is not subject to change. o A final disclosure event generally has a disposition of adjudicated, settled or otherwise resolved.
§ An "adjudicated" matter includes a disposition by (1) a court of law in a criminal or civil matter, or(2) an administrative panel in an action brought by a regulator that is contested by the partycharged with some alleged wrongdoing.
§ A "settled" matter generally represents a disposition wherein the parties involved in a disputereach an agreement to resolve the matter. Please note that brokers and brokerage firms maychoose to settle customer disputes or regulatory matters for business or other reasons.
§ A "resolved" matter usually includes a disposition wherein no payment is made to the customeror there is no finding of wrongdoing on the part of the individual broker. Such matters generallyinvolve customer disputes.
For your convenience, below is a matrix of the number and status of disclosure events involving this broker.Further information regarding these disclosure events can be found in the subsequent pages of this report. Youalso may wish to contact the broker to obtain further information regarding the disclosure events.
6©2013 FINRA. All rights reserved. Report# 85949-85534 about HOWARD A. SLATER. Data current as of Thursday, April 11, 2013.
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Final On AppealPending
Regulatory Event 0 1 0
Customer Dispute 5 11 N/A
7©2013 FINRA. All rights reserved. Report# 85949-85534 about HOWARD A. SLATER. Data current as of Thursday, April 11, 2013.
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Disclosure Event Details
When evaluating this information, please keep in mind that a discloure event may be pending or involve allegationsthat are contested and have not been resolved or proven. The disclosure event may, in the end, be withdrawn,dismissed, resolved in favor of the broker, or concluded through a negotiated settlement for certain business reasons(e.g., to maintain customer relationships or to limit the litigation costs associated with disputing the allegations) with noadmission or finding of wrongdoing.
This report provides the information exactly as it was reported to CRD and therefore some of the specific data fieldscontained in the report may be blank if the information was not provided to CRD.
Regulatory - Final
This type of disclosure event may involves (1) a final, formal proceeding initiated by a regulatory authority (e.g., a statesecurities agency, self-regulatory organization, federal regulatory such as the Securities and Exchange Commission,foreign financial regulatory body) for a violation of investment-related rules or regulations; or (2) a revocation orsuspension of a broker's authority to act as an attorney, accountant, or federal contractor.
Disclosure 1 of 1
Reporting Source: Regulator
Regulatory Action InitiatedBy:
FINRA
Sanction(s) Sought: Other: N/A
Date Initiated: 01/03/2013
Docket/Case Number: 2010022518102
Employing firm when activityoccurred which led to theregulatory action:
SECURITIES AMERICA, INC.
Product Type: No Product
Allegations: NASD RULES 2110, 2210(D)(1)(A), 2210(D)(1)(B), 2211(D)(1), 3110(A): SLATERSENT EMAILS TO TWO CUSTOMERS OF HIS MEMBER FIRM INCONNECTION WITH THEIR PURCHASES OF UNITS IN A FUND THATCONTAINED MATERIAL MISREPRESENTATIONS REGARDING THE FUND'SLIQUIDITY. THE STATEMENTS SLATER MADE WERE IN DIRECTCONTRADICTION TO THE DISCLOSURES IN THE PRIVATE PLACEMENTMEMORANDUM (PPM) ABOUT THE ILLIQUIDITY OF THE FUND AND THESIGNIFICANT LIMITATIONS ON REDEMPTIONS. SLATER'SREPRESENTATIONS TO THE CUSTOMERS REGARDING THE LIQUIDITY OFTHE FUND WERE FALSE AND MISLEADING. SLATER SENT AN EMAIL TO AFIRM CUSTOMER WHO DID NOT PURCHASE UNITS IN THE FUND. THISEMAIL MADE MISLEADING AND UNWARRANTED STATEMENTS REGARDINGTHE SAFETY OF AN INVESTMENT IN THE FUND. THE STATEMENTS BYSLATER EXAGGERATE THE SAFETY OF THE FUND IN LIGHT OF THE RISKSPRESENTED BY THE FUND. SLATER'S REPRESENTATION TO THECUSTOMER REGARDING THE SAFETY OF THE FUND WAS THEREFOREMISLEADING. MOREOVER, NONE OF THE EMAILS PROVIDED A BALANCEDDISCUSSION OF THE FUND AND INSTEAD ADDRESSED ONLY POSITIVEATTRIBUTES OF THE INVESTMENT. THE EMAILS OMITTED ANYDISCUSSION OF THE RISKS ASSOCIATED WITH AN INVESTMENT IN THEFUND. SLATER CAUSED A FIRM CUSTOMER'S ACCOUNT RECORDS TOREFLECT FALSE ANNUAL INCOME AND NET WORTH INFORMATION,CAUSING THE BUSINESS RECORDS MAINTAINED BY THE FIRM TO BEINACCURATE. THE FIRM CUSTOMER WAS IN THE PROCESS OF INVESTING$80,000 IN THE FUND THROUGH SLATER. AFTER PREPARING THEPAPERWORK FOR THE PURCHASE, SLATER'S ASSISTANT INFORMED HIMTHAT THE PROPOSED $80,000 INVESTMENT IN THE FUND WOULDINCREASE THE PERCENTAGE OF THE CUSTOMER'S NET WORTHINVESTED IN ALTERNATIVE INVESTMENTS TO MORE THAN 20 PERCENT,WHICH WOULD EXCEED FIRM GUIDELINES. IN RESPONSE, SLATERINSTRUCTED HIS ASSISTANT TO INCREASE THE CUSTOMER'S NETWORTH TO $1.9 MILLION AND THEN TO $2.2 MILLION, BRINGING THEPERCENTAGE OF THE CUSTOMER'S NET WORTH INVESTED INALTERNATIVE INVESTMENTS (WITH THE $80,000 PURCHASE) WITHIN THEFIRM'S GUIDELINE. SLATER ALSO ASKED HIS ASSISTANT TO CHANGE THECUSTOMER'S ANNUAL INCOME FROM $30,000 TO $65,000. SLATER DID NOTHAVE A REASONABLE BASIS FOR REQUESTING THE INCREASES IN THECUSTOMER'S NET WORTH OR FOR REQUESTING THAT HER ANNUALINCOME BE INCREASED. IN FACT, THE CUSTOMER'S NET WORTH WASLESS THAN $1.9 MILLION AND HER ANNUAL INCOME WAS NOT $65,000. BYINSTRUCTING HIS ASSISTANT TO RECORD FALSE NET WORTH ANDANNUAL INCOME INFORMATION ON THE CUSTOMER'S ACCOUNTRECORDS AT THE FIRM, SLATER CAUSED THE FIRM'S BOOKS ANDRECORDS TO BE INACCURATE.
8©2013 FINRA. All rights reserved. Report# 85949-85534 about HOWARD A. SLATER. Data current as of Thursday, April 11, 2013.
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EMAIL MADE MISLEADING AND UNWARRANTED STATEMENTS REGARDINGTHE SAFETY OF AN INVESTMENT IN THE FUND. THE STATEMENTS BYSLATER EXAGGERATE THE SAFETY OF THE FUND IN LIGHT OF THE RISKSPRESENTED BY THE FUND. SLATER'S REPRESENTATION TO THECUSTOMER REGARDING THE SAFETY OF THE FUND WAS THEREFOREMISLEADING. MOREOVER, NONE OF THE EMAILS PROVIDED A BALANCEDDISCUSSION OF THE FUND AND INSTEAD ADDRESSED ONLY POSITIVEATTRIBUTES OF THE INVESTMENT. THE EMAILS OMITTED ANYDISCUSSION OF THE RISKS ASSOCIATED WITH AN INVESTMENT IN THEFUND. SLATER CAUSED A FIRM CUSTOMER'S ACCOUNT RECORDS TOREFLECT FALSE ANNUAL INCOME AND NET WORTH INFORMATION,CAUSING THE BUSINESS RECORDS MAINTAINED BY THE FIRM TO BEINACCURATE. THE FIRM CUSTOMER WAS IN THE PROCESS OF INVESTING$80,000 IN THE FUND THROUGH SLATER. AFTER PREPARING THEPAPERWORK FOR THE PURCHASE, SLATER'S ASSISTANT INFORMED HIMTHAT THE PROPOSED $80,000 INVESTMENT IN THE FUND WOULDINCREASE THE PERCENTAGE OF THE CUSTOMER'S NET WORTHINVESTED IN ALTERNATIVE INVESTMENTS TO MORE THAN 20 PERCENT,WHICH WOULD EXCEED FIRM GUIDELINES. IN RESPONSE, SLATERINSTRUCTED HIS ASSISTANT TO INCREASE THE CUSTOMER'S NETWORTH TO $1.9 MILLION AND THEN TO $2.2 MILLION, BRINGING THEPERCENTAGE OF THE CUSTOMER'S NET WORTH INVESTED INALTERNATIVE INVESTMENTS (WITH THE $80,000 PURCHASE) WITHIN THEFIRM'S GUIDELINE. SLATER ALSO ASKED HIS ASSISTANT TO CHANGE THECUSTOMER'S ANNUAL INCOME FROM $30,000 TO $65,000. SLATER DID NOTHAVE A REASONABLE BASIS FOR REQUESTING THE INCREASES IN THECUSTOMER'S NET WORTH OR FOR REQUESTING THAT HER ANNUALINCOME BE INCREASED. IN FACT, THE CUSTOMER'S NET WORTH WASLESS THAN $1.9 MILLION AND HER ANNUAL INCOME WAS NOT $65,000. BYINSTRUCTING HIS ASSISTANT TO RECORD FALSE NET WORTH ANDANNUAL INCOME INFORMATION ON THE CUSTOMER'S ACCOUNTRECORDS AT THE FIRM, SLATER CAUSED THE FIRM'S BOOKS ANDRECORDS TO BE INACCURATE.
Current Status: Final
Resolution: Acceptance, Waiver & Consent(AWC)
Resolution Date: 01/03/2013
Sanctions Ordered:
Does the order constitute afinal order based onviolations of any laws orregulations that prohibitfraudulent, manipulative, ordeceptive conduct?
No
9©2013 FINRA. All rights reserved. Report# 85949-85534 about HOWARD A. SLATER. Data current as of Thursday, April 11, 2013.
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Sanctions Ordered: Civil and Administrative Penalty(ies)/Fine(s)Suspension
If the regulator is the SEC,CFTC, or an SRO, did theaction result in a finding of awillful violation or failure tosupervise?
No
(1) willfully violated anyprovision of the SecuritiesAct of 1933, the SecuritiesExchange Act of 1934, theInvestment Advisers Act of1940, the InvestmentCompany Act of 1940, theCommodity Exchange Act, orany rule or regulation underany of such Acts, or any ofthe rules of the MunicipalSecurities Rulemaking Board,or to have been unable tocomply with any provision ofsuch Act, rule or regulation?
(2) willfully aided, abetted,counseled, commanded,induced, or procured theviolation by any person ofany provision of theSecurities Act of 1933, theSecurities Exchange Act of1934, the InvestmentAdvisers Act of 1940, theInvestment Company Act of1940, the CommodityExchange Act, or any rule orregulation under any of suchActs, or any of the rules ofthe Municipal SecuritiesRulemaking Board? or
(3) failed reasonably tosupervise another personsubject to your supervision,with a view to preventing theviolation by such person ofany provision of theSecurities Act of 1933, theSecurities Exchange Act of1934, the InvestmentAdvisers Act of 1940, theInvestment Company Act of1940, the CommodityExchange Act, or any rule orregulation under any suchActs, or any of the rules ofthe Municipal SecuritiesRulemaking Board?
10©2013 FINRA. All rights reserved. Report# 85949-85534 about HOWARD A. SLATER. Data current as of Thursday, April 11, 2013.
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Summary: WITHOUT ADMITTING OR DENYING THE FINDINGS, SLATER CONSENTEDTO THE DESCRIBED SANCTIONS AND TO THE ENTRY OF FINDINGS;THEREFORE HE IS FINED $30,000 AND SUSPENDED FROM ASSOCIATIONWITH ANY FINRA MEMBER IN ANY CAPACITY FOR FIVE MONTHS. THESUSPENSION IS IN EFFECT FEBRUARY 4, 2013 THROUGH JULY 3, 2013.FINE PAID IN FULL ON 1/8/2013.
(3) failed reasonably tosupervise another personsubject to your supervision,with a view to preventing theviolation by such person ofany provision of theSecurities Act of 1933, theSecurities Exchange Act of1934, the InvestmentAdvisers Act of 1940, theInvestment Company Act of1940, the CommodityExchange Act, or any rule orregulation under any suchActs, or any of the rules ofthe Municipal SecuritiesRulemaking Board?
Capacities Affected: ANY CAPACITY
Duration: FIVE MONTHS
Start Date: 02/04/2013
End Date: 07/03/2013
Sanction 1 of 1
Sanction Type: Suspension
Monetary Related Sanction: Civil and Administrative Penalty(ies)/Fine(s)
Total Amount: $30,000.00
Portion Levied againstindividual:
$30,000.00
Date Paid by individual: 01/08/2013
Was any portion of penaltywaived?
No
Amount Waived:
Monetary Sanction 1 of 1
Payment Plan:
Is Payment Plan Current:
11©2013 FINRA. All rights reserved. Report# 85949-85534 about HOWARD A. SLATER. Data current as of Thursday, April 11, 2013.
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Summary:TO THE DESCRIBED SANCTIONS AND TO THE ENTRY OF FINDINGS;THEREFORE HE IS FINED $30,000 AND SUSPENDED FROM ASSOCIATIONWITH ANY FINRA MEMBER IN ANY CAPACITY FOR FIVE MONTHS. THESUSPENSION IS IN EFFECT FEBRUARY 4, 2013 THROUGH JULY 3, 2013.FINE PAID IN FULL ON 1/8/2013.
iReporting Source: Broker
Regulatory Action InitiatedBy:
FINRA
Sanction(s) Sought: Civil and Administrative Penalty(ies)/Fine(s)Suspension
Date Initiated: 01/03/2013
Docket/Case Number: 2010022518102
Employing firm when activityoccurred which led to theregulatory action:
SECURITIES AMERICA, INC.
Product Type: Direct Investment-DPP & LP Interests
Allegations: IN FEBRUARY 2008 AND AUGUST 2008, THE REPRESENTATIVE SENTEMAILS TO TWO CUSTOMERS IN CONNECTION WITH THEIR PURCHASESOF IMH SECURED LOAN FUND, LLC ("IMH FUND"). IN ADDITION, IN MARCH2008, THE REPRESENTATIVE SENT AN EMAIL TO A CUSTOMER WHO DIDNOT PURCHASE UNITS OF THE IMH FUND. FINRA ALLEGED THAT THEEMAILS CONTAINED MISREPRESENTATIONS REGARDING THE FEATURESOF THE IMH FUND; IN VIOLATION OF NASD RULES 2110, 2210, AND 2211.FINRA ALSO ALLEGED THAT THE REPRESENTATIVE CAUSED ACUSTOMER'S ACCOUNT RECORDS TO REFLECT INACCURATE ANNUALINCOME AND NET WORTH INFORMATION, CAUSING INACCURATE BOOKSAND RECORDS; IN VIOLATION OF NASD RULES 3110 AND 2110.
Current Status: Final
Resolution: Acceptance, Waiver & Consent(AWC)
Resolution Date: 01/03/2013
Does the order constitute afinal order based onviolations of any laws orregulations that prohibitfraudulent, manipulative, ordeceptive conduct?
No
12©2013 FINRA. All rights reserved. Report# 85949-85534 about HOWARD A. SLATER. Data current as of Thursday, April 11, 2013.
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Resolution Date:
Sanctions Ordered:
Summary: WITHOUT ADMITTING OR DENYING THE FINDINGS, THE REPRESENTATIVECONSENTED TO THE SANCTIONS OF A $30,000 FINE AND 5 MONTHSUSPENSION. THE SUSPENSION IS IN EFFECT FROM FEBRUARY 4, 2013THROUGH JULY 3, 2013.
Civil and Administrative Penalty(ies)/Fine(s)Suspension
Capacities Affected: ALL CAPACITIES
Duration: 5 MONTHS
Start Date: 02/04/2013
End Date: 07/03/2013
Sanction 1 of 1
Sanction Type: Suspension
Monetary Related Sanction: Civil and Administrative Penalty(ies)/Fine(s)
Total Amount: $30,000.00
Portion Levied againstindividual:
$30,000.00
Date Paid by individual: 01/08/2013
Was any portion of penaltywaived?
No
Amount Waived:
Monetary Sanction 1 of 1
Payment Plan:
Is Payment Plan Current:
13©2013 FINRA. All rights reserved. Report# 85949-85534 about HOWARD A. SLATER. Data current as of Thursday, April 11, 2013.
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Customer Dispute - Settled
This type of disclosure event involves a consumer-initiated, investment-related complaint, arbitration proceeding or civilsuit containing allegations of sale practice violations against the broker that resulted in a monetary settlement to thecustomer.
Disclosure 1 of 11
Reporting Source: Firm
Employing firm whenactivities occurred which ledto the complaint:
Allegations:
SECURITIES AMERICA, INC.
IN CONNECTION WITHH THE RECOMMENDATION AND SALE OF ANALTERNATIVE INVESTMENT IN MAY 2008, CLAIMANT ALLEGES FAILURE TOSUPERVISOR.
Product Type: Direct Investment-DPP & LP Interests
Alleged Damages: $50,000.00
Date Complaint Received: 03/30/2012
Complaint Pending? No
Status:
Status Date: 03/12/2013
Settlement Amount: $24,500.00
Individual ContributionAmount:
$0.00
Customer Complaint Information
Settled
Is this an oral complaint? No
Is this a written complaint? Yes
Is this an arbitration/CFTCreparation or civil litigation?
Yes
Arbitration/Reparation forumor court name and location:
FINRA
Docket/Case #: 12-01047
Filing date ofarbitration/CFTC reparationor civil litigation:
03/14/2012
14©2013 FINRA. All rights reserved. Report# 85949-85534 about HOWARD A. SLATER. Data current as of Thursday, April 11, 2013.
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iReporting Source: Broker
Employing firm whenactivities occurred which ledto the complaint:
Allegations:
SECURITIES AMERICA, INC.
IN CONNECTION WITH THE RECOMMENDATION AND SALE OF ANALTERNATIVE INVESTMENT IN MAY OF 2008, CLAIMANT ALLEGES FAILURETO SUPERVISE.
Product Type: Direct Investment-DPP & LP Interests
Alleged Damages: $50,000.00
Date Complaint Received: 03/30/2012
Complaint Pending? Yes
Settlement Amount:
Individual ContributionAmount:
Summary: HOWARD SLATER IS NOT A NAMED RESPONDENT IN THIS MATTER.
Customer Complaint Information
Is this an oral complaint? No
Is this a written complaint? Yes
Is this an arbitration/CFTCreparation or civil litigation?
Yes
Arbitration/Reparation forumor court name and location:
FINRA
Docket/Case #: 12-01047
Filing date ofarbitration/CFTC reparationor civil litigation:
03/14/2012
Disclosure 2 of 11
i
Reporting Source: Broker
15©2013 FINRA. All rights reserved. Report# 85949-85534 about HOWARD A. SLATER. Data current as of Thursday, April 11, 2013.
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Employing firm whenactivities occurred which ledto the complaint:
Allegations:
SECURITIES AMERICA, INC.
IN CONNECTION WITH INVESTMENTS IN MEDICAL CAPITAL, CLAIMANTSALLEGE NEGLIGENCE,NEGLIGENT MISREPRESENTATIONS, BREACH OFFIDUCIARY DUTY, VIOLATIONS OF OHIO BLUE SKY LAWS, AND AIDING &ABETTING FRAUD.
Product Type: Direct Investment-DPP & LP Interests
Alleged Damages: $3,187,000.00
Date Notice/Process Served: 04/07/2011
Arbitration Pending? No
Disposition: Settled
Disposition Date: 09/29/2011
Monetary CompensationAmount:
$1,479,386.47
Summary: 09/30/2011: THIS CLAIM WAS PART OF A GLOBAL SETTLEMENT BYSECURITIES AMERICA, INC.
Arbitration Information
Individual ContributionAmount:
$0.00
Alleged Damages AmountExplanation (if amount notexact):
THIS IS A MULTI-CLIENT CLAIM INVOLVING MORE THAN ONEREPRESENTATIVE. ALLEGED DAMAGES FOR THIS REPRESENTATIVE ARE$50,000.
Arbitration/CFTC reparationclaim filed with (FINRA, AAA,CFTC, etc.):
FINRA
Docket/Case #: 09-07274
Disclosure 3 of 11
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Reporting Source: Broker
Employing firm whenactivities occurred which ledto the complaint:
Allegations:
SECURITIES AMERICA, INC.
IN CONNECTION WITH THE RECOMMENDATION AND SALE OF PROVIDENTSHALE, CLAIMANTS ALLEGE VIOLATIONS OF OHIO BLUE SKY LAWS,VIOLATIONS OF FINRA RULE 2110, NEGLIGENCE, NEGLIGENTMISREPRESENTATIONS AND OMISSIONS, BREACH OF FIDUCIARY DUTY,AND AIDING & ABETTING FRAUD.
16©2013 FINRA. All rights reserved. Report# 85949-85534 about HOWARD A. SLATER. Data current as of Thursday, April 11, 2013.
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Allegations:
SHALE, CLAIMANTS ALLEGE VIOLATIONS OF OHIO BLUE SKY LAWS,VIOLATIONS OF FINRA RULE 2110, NEGLIGENCE, NEGLIGENTMISREPRESENTATIONS AND OMISSIONS, BREACH OF FIDUCIARY DUTY,AND AIDING & ABETTING FRAUD.
Product Type: Oil & Gas
Alleged Damages: $200,000.00
Date Notice/Process Served: 01/24/2011
Arbitration Pending? No
Disposition: Settled
Disposition Date: 09/29/2011
Monetary CompensationAmount:
$139,258.22
Summary: 09/30/2011: THIS CLAIM WAS PART OF A GLOBAL SETTLEMENT BYSECURITIES AMERICA, INC.
Arbitration Information
Individual ContributionAmount:
$0.00
Alleged Damages AmountExplanation (if amount notexact):
THIS IS A MULTI-CLIENT CLAIM INVOLVING MORE THAN ONEREPRESENTATIVE. ALLEGED DAMAGES FOR THIS REPRESENTATIVE ARE$50,000.
Arbitration/CFTC reparationclaim filed with (FINRA, AAA,CFTC, etc.):
FINRA
Docket/Case #: 10-02558
Disclosure 4 of 11
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Reporting Source: Broker
Employing firm whenactivities occurred which ledto the complaint:
Allegations:
SECURITIES AMERICA, INC.
IN CONNECTION WITH THE RECOMMENDATION AND SALE OF MEDICALCAPITAL AND PROVIDENT ROYALTIES, CLAIMANT ALLEGESUNSUITABILITY, MISREPRESENTATION, AND NEGLIGENCE.
Product Type: Direct Investment-DPP & LP InterestsOil & Gas
17©2013 FINRA. All rights reserved. Report# 85949-85534 about HOWARD A. SLATER. Data current as of Thursday, April 11, 2013.
www.finra.org/brokercheck User Guidance
Product Type:Oil & Gas
Alleged Damages: $275,000.00
Date Complaint Received: 11/05/2010
Complaint Pending? No
Status:
Status Date: 09/29/2011
Settlement Amount: $127,653.37
Individual ContributionAmount:
$0.00
Summary: REPRESENTATIVE HOWARD SLATER IS NOT A NAMED RESPONDENT INTHIS MATTER. 09/30/2011: THIS CLAIM WAS PART OF A GLOBALSETTLEMENT BY SECURITIES AMERICA, INC.
Customer Complaint Information
Settled
Is this an oral complaint? No
Is this a written complaint? Yes
Is this an arbitration/CFTCreparation or civil litigation?
Yes
Arbitration/Reparation forumor court name and location:
FINRA
Docket/Case #: 10-04754
Filing date ofarbitration/CFTC reparationor civil litigation:
10/21/2010
Disclosure 5 of 11
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Reporting Source: Broker
Employing firm whenactivities occurred which ledto the complaint:
Allegations:
SECURITIES AMERICA, INC.
IN CONNECTION WITH THE RECOMMENDATION AND SALE OF MEDICALCAPITAL AND VARIOUS REAL ESTATE SECURITIES, CLAIMANTS ALLEGEBREACH OF FIDUCIARY DUTY, FRAUD, VIOLATION OF STATE SECURITIESLAW, AND NEGLIGENCE.
Direct Investment-DPP & LP InterestsReal Estate Security
18©2013 FINRA. All rights reserved. Report# 85949-85534 about HOWARD A. SLATER. Data current as of Thursday, April 11, 2013.
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Product Type: Direct Investment-DPP & LP InterestsReal Estate Security
Alleged Damages: $785,000.00
Date Notice/Process Served: 09/20/2010
Arbitration Pending? No
Disposition: Settled
Disposition Date: 09/29/2011
Monetary CompensationAmount:
$127,653.37
Summary: THE ADVISOR STATES THAT HE HAS BEEN ERRONEOUSLY NAMED IN THISMATTER AS HE HAS NEVER HAD ANY PROFESSIONAL CONTACT WITH ANYOF THESE NAMED CLIENTS. THE ADVISOR WILL BE WORKING WITHCOUNSEL TO HAVE THE RECORD CORRECTED. 09/30/2011: THE PORTIONOF THIS CLAIM RELATING TO MEDICAL CAPITAL WERE PART OF A GLOBALSETTLEMENT BY SECURITIES AMERICA, INC. CLAIMS RELATING TOADDITIONAL PRODUCTS CONTINUE AT THIS TIME. 01/04/2012: I WASDISMISSED FROM THIS MATTER WITH PREJUDICE.
Arbitration Information
Individual ContributionAmount:
$0.00
Arbitration/CFTC reparationclaim filed with (FINRA, AAA,CFTC, etc.):
FINRA
Docket/Case #: 10-03750
Disclosure 6 of 11
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Reporting Source: Broker
Employing firm whenactivities occurred which ledto the complaint:
Allegations:
SECURITIES AMERICA, INC
IN CONNECTION WITH THE RECOMMENDATION AND SALE OF TWOALTERNATIVE INVESTMENTS, CLAIMANT ALLEGES UNSUITABILITY ANDMISREPRESENTATION. ALLEGATIONS ALSO INCLUDE FRAUD, BREACH OFFIDUCIARY DUTY AND VIOLATIONS OF THE OHIO SECURITIES ACT.
Product Type: Direct Investment-DPP & LP Interests
$110,000.0019©2013 FINRA. All rights reserved. Report# 85949-85534 about HOWARD A. SLATER. Data current as of Thursday, April 11, 2013.
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Alleged Damages: $110,000.00
Date Complaint Received: 08/02/2011
Complaint Pending? No
Status:
Status Date: 08/13/2012
Settlement Amount: $28,500.00
Individual ContributionAmount:
$0.00
Summary: HOWARD SLATER IS NOT A NAMED RESPONDENT IN THIS MATTER. THECLIENTS WERE ACCREDITED INVESTORS, AND MR. SLATER DENIES ALLALLEGATIONS.
Customer Complaint Information
Settled
Is this an oral complaint? No
Is this a written complaint? Yes
Is this an arbitration/CFTCreparation or civil litigation?
Yes
Arbitration/Reparation forumor court name and location:
FINRA
Docket/Case #: 11-02863
Filing date ofarbitration/CFTC reparationor civil litigation:
07/19/2011
Disclosure 7 of 11
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Reporting Source: Broker
Employing firm whenactivities occurred which ledto the complaint:
Allegations:
SECURITIES AMERICA, INC.
IN CONNECTION WITH THE RECOMMENDATION AND SALE OF MEDICALCAPITAL, PROVIDENT SHALE, AND IMH, CLAIMANTS ALLEGE FRAUD,NEGLIGENCE, MISREPRESENTATION AND OMISSION OF MATERIALFACTS,VIOLATIONS OF FINRA RULES AND FAILURE TO SUPERVISE. INCONNECTION WITH THE SALE OF GOLDMAN SACHS, CLAIMANTS ALLEGEOVERCONCENTRATION.
20©2013 FINRA. All rights reserved. Report# 85949-85534 about HOWARD A. SLATER. Data current as of Thursday, April 11, 2013.
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Product Type: Direct Investment-DPP & LP InterestsOil & Gas
Alleged Damages: $3,966,000.00
Date Notice/Process Served: 05/24/2010
Arbitration Pending? No
Disposition: Settled
Disposition Date: 09/29/2011
Monetary CompensationAmount:
$2,761,026.27
Summary: THE ADVISOR DENIES ALL ALLEGATIONS. 09/30/2011: THE PORTION OFTHIS CLAIM RELATING TO MEDICAL CAPITAL AND PROVIDENT WAS PARTOF A GLOBAL SETTLEMENT BY SECURITIES AMERICA, INC. CLAIMSRELATING TO ADDITIONAL PRODUCTS CONTINUE AT THIS TIME.01/12/2012: I WAS DISMISSED FROM THIS MATTER WITH PREJUDICE.
Arbitration Information
Individual ContributionAmount:
$0.00
Alleged Damages AmountExplanation (if amount notexact):
THIS IS A MULTI-CLIENT CLAIM INVOLVING MORE THAN ONEREPRESENTATIVE. ALLEGED DAMAGES FOR THIS REPRESENATATIVEARE $2,638,000.
Arbitration/CFTC reparationclaim filed with (FINRA, AAA,CFTC, etc.):
FINRA
Docket/Case #: 10-01967
Disclosure 8 of 11
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Reporting Source: Broker
Employing firm whenactivities occurred which ledto the complaint:
Allegations:
SECURITIES AMERICA, INC.
IN CONNECTION WITH THE RECOMMENDATION AND SALE OF MEDICALCAPITAL, PROVIDENT SHALE, THE HIGHLAND FUND AND OTHERINVESTMENTS, CLAIMANTS ALLEGE UNSUITABILITY,MISREPRESENTATION, NEGLIGENCE, BREACH OF FIDUCIARY DUTY, ANDBREACH OF CONTRACT.
21©2013 FINRA. All rights reserved. Report# 85949-85534 about HOWARD A. SLATER. Data current as of Thursday, April 11, 2013.
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Product Type: Direct Investment-DPP & LP InterestsOther: CLOSED END FUNDS
Alleged Damages: $286,000.00
Date Complaint Received: 04/23/2010
Complaint Pending? No
Status:
Status Date: 09/29/2011
Settlement Amount: $209,290.46
Individual ContributionAmount:
$0.00
Summary: THE ADVISOR IS NOT A NAMED RESPONDENT IN THIS CLAIM AND DENIESALL ASSERTIONS RELATED TO THIS FILING. 09/30/2011: THIS CLAIM WASPART OF A GLOBAL SETTLEMENT BY SECURITIES AMERICA, INC. CLAIMSRELATING TO ADDITIONAL PRODUCTS CONTINUE AT THIS TIME.05/04/2012: ALL REMAINING CLAIMS HAVE BEEN SETTLED FOR A TOTAL OF$89,000. THE ADVISOR WAS NOT ASKED TO, NOR DID HE, CONTRIBUTE TOEITHER SETTLEMENT. THIS MATTER IS NOW CONCLUDED.
Customer Complaint Information
Settled
Is this an oral complaint? No
Is this a written complaint? Yes
Is this an arbitration/CFTCreparation or civil litigation?
Yes
Arbitration/Reparation forumor court name and location:
FINRA
Docket/Case #: 10-01735
Filing date ofarbitration/CFTC reparationor civil litigation:
04/12/2010
Disclosure 9 of 11
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Reporting Source: Broker
22©2013 FINRA. All rights reserved. Report# 85949-85534 about HOWARD A. SLATER. Data current as of Thursday, April 11, 2013.
www.finra.org/brokercheck User Guidance
Employing firm whenactivities occurred which ledto the complaint:
Allegations:
SECURITIES AMERICA, INC.
IN CONNECTION WITH THE RECOMMENDATION AND SALE OF MEDICALCAPITAL AND IMH SECURED LOAN FUND, CLAIMANTS ALLEGEUNSUITABILITY, MISREPRESENTATION, NEGLIGENCE, BREACH OFFIDUCIARY DUTY, AND BREACH OF CONTRACT.
Product Type: Other: ALTERNATIVE INVESTMENTS
Alleged Damages: $200,000.00
Date Complaint Received: 04/28/2010
Complaint Pending? No
Status:
Status Date: 09/29/2011
Settlement Amount: $92,419.41
Individual ContributionAmount:
$0.00
Summary: THE ADVISOR IS NOT A NAMED RESPONDENT IN THIS CLAIM AND DENIESALL ASSERTIONS RELATED TO THIS FILING. 09/30/2011: THE PORTION OFTHIS CLAIM RELATING TO MEDICAL CAPITAL WAS PART OF A GLOBALSETTLEMENT INITIATED BY SECURITIES AMERICA, INC. CLAIMS RELATINGTO ADDITIONAL PRODUCTS CONTINUE AT THIS TIME. 05/07/2012:SECURITIES AMERICA, INC. SETTLED ALL REMAINING CLAIMS IN THISMATTER FOR $46,000. THE ADVISOR WAS NOT ASKED TO, NOR DID HE,CONTRIBUTE TO EITHER SETTLEMENT.
Customer Complaint Information
Settled
Is this an oral complaint? No
Is this a written complaint? Yes
Is this an arbitration/CFTCreparation or civil litigation?
Yes
Arbitration/Reparation forumor court name and location:
FINRA
Docket/Case #: 10-01776
Filing date ofarbitration/CFTC reparationor civil litigation:
04/15/2010
23©2013 FINRA. All rights reserved. Report# 85949-85534 about HOWARD A. SLATER. Data current as of Thursday, April 11, 2013.
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CONTRIBUTE TO EITHER SETTLEMENT.
Disclosure 10 of 11
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Reporting Source: Broker
Employing firm whenactivities occurred which ledto the complaint:
Allegations:
SECURITIES AMERICA, INC. AND SECURITIES AMERICA ADVISORS, INC.
IN CONNECTION WITH THE RECOMMENDATION AND SALE OFALTERNATIVE INVESTMENTS, CLAIMANTS ALLEGE MISREPRESENTATION,OMISSIONS, BREACH OF FIDUCIARY, DUTY, VIOLATIONS OF OHIOSECURITIES ACT, FRAUD,NEGLIGENCE, BREACH OF CONTRACT, ANDFINRA RULE VIOLATIONS.
Product Type: Direct Investment-DPP & LP Interests
Alleged Damages: $2,490,000.00
Date Notice/Process Served: 01/14/2010
Arbitration Pending? No
Disposition: Settled
Disposition Date: 08/03/2011
Monetary CompensationAmount:
$761,278.26
Summary: THE REPRESENTATIVE MAINTAINS THAT HE HAS BEEN IMPROPERLYNAMED IN THIS SUIT. THE REPRESENTATIVE DID NOT MEET WITH, HAVEANY CONTACT WITH, OR CONDUCT ANY TRANSACTIONS WITH THECLAIMANTS. 8/30/2011: THE BROKER DEALER HAS PARTIALLY SETTLEDTHIS MATTER (SETTLEMENT REACHED WITH ONE CLAIMANT). THISMATTER CONTINUES WITH RESPECT TO THE OTHER CLAIMANTS AT THISTIME. 09/30/2011: THE PORTION OF THIS CLAIM RELATING TO MEDICALCAPITAL WAS PART OF A GLOBAL SETTLEMENT BY SECURITIES AMERICA,INC. CLAIMS RELATING TO ADDITIONAL PRODUCTS CONTINUE AT THISTIME. 01/12/2012: I WAS DISMISSED FROM THIS MATTER WITH PREJUDICE.
Arbitration Information
Individual ContributionAmount:
$0.00
Arbitration/CFTC reparationclaim filed with (FINRA, AAA,CFTC, etc.):
FINRA
Docket/Case #: 10-00016
24©2013 FINRA. All rights reserved. Report# 85949-85534 about HOWARD A. SLATER. Data current as of Thursday, April 11, 2013.
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INC. CLAIMS RELATING TO ADDITIONAL PRODUCTS CONTINUE AT THISTIME. 01/12/2012: I WAS DISMISSED FROM THIS MATTER WITH PREJUDICE.
Disclosure 11 of 11
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Reporting Source: Broker
Employing firm whenactivities occurred which ledto the complaint:
Allegations:
SECURITIES AMERICA, INC.
CLIENT ALLEGES THAT REPRESENTATIVE SOLD HIM A REG D OFFERINGAND IT WAS UNSUITABLE FOR HIM BECAUSE HE DID NOT MEET THESTANDARDS TO PURCHASE THE PRODUCT.
Product Type: Direct Investment-DPP & LP Interests
Alleged Damages: $5,000.00
Date Complaint Received: 11/27/2009
Complaint Pending? No
Status:
Status Date: 06/24/2010
Settlement Amount: $50,000.00
Individual ContributionAmount:
$15,000.00
Summary: MR. SLATER DENIES ALL ALLEGATIONS.
Customer Complaint Information
Settled
Alleged Damages AmountExplanation (if amount notexact):
CLIENT DID NOT SPECIFY DAMAGES; HOWEVER, SAI CANNOT MAKE AGOOD FAITH DETERMINATION THAT THE LOSSES ASSOCIATED WITH THECOMPLAINT WOULD BE LESS THAN $5,000.
Is this an oral complaint? No
Is this a written complaint? Yes
Is this an arbitration/CFTCreparation or civil litigation?
No
25©2013 FINRA. All rights reserved. Report# 85949-85534 about HOWARD A. SLATER. Data current as of Thursday, April 11, 2013.
www.finra.org/brokercheck User Guidance
Customer Dispute - Pending
This type of disclosure event involves (1) a pending consumer-initiated, investment-related arbitration or civil suit thatcontains allegations of sales practice violations against the broker; or (2) a pending, consumer-initiated, investment-related written complaint containing allegations that the broker engaged in, sales practice violations resulting incompensatory damages of at least $5,000; forgery, theft, or misappropriation; or conversion of funds or securities.
Disclosure 1 of 5
Reporting Source: Broker
Employing firm whenactivities occurred which ledto the complaint:
Allegations:
SECURITIES AMERICA, INC.
IN CONNECTION WITH THE RECOMMENDATION AND SALE OF VARIOUSREAL ESTATE INVESTMENTS, CLAIMANTS ALLEGE MISREPRESENTATIONAND OMISSION OF MATERIAL FACTS. ADDITIONAL ALLEGATIONSINCLUDE BREACH OF FIDUCIARY DUTIES, AND VIOLATION OF FINRACONDUCT RULES.
Product Type: Direct Investment-DPP & LP InterestsReal Estate Security
Alleged Damages: $3,818,000.00
Date Complaint Received: 09/24/2012
Complaint Pending? Yes
Settlement Amount:
Customer Complaint Information
Alleged Damages AmountExplanation (if amount notexact):
THIS IS A MULTI-CLIENT CLAIM INVOLVING MORE THAN ONEREPRESENTATIVE. ALLEGED DAMAGES INVOLVING THISREPRESENTATIVE ARE $2,903,000.
Is this an oral complaint? No
Is this a written complaint? Yes
Is this an arbitration/CFTCreparation or civil litigation?
Yes
Arbitration/Reparation forumor court name and location:
FINRA
Docket/Case #: 12-02683
Filing date ofarbitration/CFTC reparationor civil litigation:
07/19/2012
26©2013 FINRA. All rights reserved. Report# 85949-85534 about HOWARD A. SLATER. Data current as of Thursday, April 11, 2013.
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Settlement Amount:
Individual ContributionAmount:
Summary: HOWARD SLATER IS NOT A NAMED RESPONDENT IN THIS MATTER, ANDDENIES ALL IMPLIED CLAIMS AGAINST HIM AND THE BROKER DEALER.
Disclosure 2 of 5
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Reporting Source: Broker
Employing firm whenactivities occurred which ledto the complaint:
Allegations:
SECURITIES AMERICA, INC.
IN CONNECTION WITH THE RECOMMENDATION AND SALE OF VARIOUSREAL ESTATE INVESTMENTS, CLAIMANT ALLEGES UNSUITABILITY.ADDITIONAL ALLEGATIONS INCLUDE VIOLATIONS OF FEDERAL AND STATESECURITIES LAWS, FRAUD, BREACH OF CONTRACT AND NEGLIGENCE.
Product Type: Direct Investment-DPP & LP InterestsReal Estate Security
Alleged Damages: $397,000.00
Date Complaint Received: 09/17/2012
Complaint Pending? Yes
Settlement Amount:
Individual ContributionAmount:
Customer Complaint Information
Is this an oral complaint? No
Is this a written complaint? Yes
Is this an arbitration/CFTCreparation or civil litigation?
Yes
Arbitration/Reparation forumor court name and location:
FINRA
Docket/Case #: 12-03192
Filing date ofarbitration/CFTC reparationor civil litigation:
09/04/2012
27©2013 FINRA. All rights reserved. Report# 85949-85534 about HOWARD A. SLATER. Data current as of Thursday, April 11, 2013.
www.finra.org/brokercheck User Guidance
Individual ContributionAmount:
Summary: HOWARD SLATER IS NOT A NAMED RESPONDENT IN THIS MATTER, ANDDENIES ALL IMPLIED CLAIMS AGAINST HIM AND THE BROKER DEALER.
Disclosure 3 of 5
i
Reporting Source: Broker
Employing firm whenactivities occurred which ledto the complaint:
Allegations:
SECURITIES AMERICA, INC.
CLAIMANT ALLEGES THAT BETWEEN NOVEMBER 2007 AND FEBRUARY2008, THE REPRESENTATIVE RECOMMENDED AND SOLD UNSUITABLEINVESTMENTS. ALLEGATIONS INCLUDE MISREPRESENTATIONS ANDMATERIAL OMISSIONS, OVERCONCENTRATION, BREACH OF FIDUCIARYDUTY, FRAUD, AND NEGLIGENCE.
Product Type: Direct Investment-DPP & LP InterestsReal Estate Security
Alleged Damages: $175,000.00
Date Complaint Received: 07/23/2012
Complaint Pending? Yes
Settlement Amount:
Individual ContributionAmount:
Customer Complaint Information
Is this an oral complaint? No
Is this a written complaint? Yes
Is this an arbitration/CFTCreparation or civil litigation?
Yes
Arbitration/Reparation forumor court name and location:
FINRA
Docket/Case #: 12-02567
Filing date ofarbitration/CFTC reparationor civil litigation:
07/12/2012
28©2013 FINRA. All rights reserved. Report# 85949-85534 about HOWARD A. SLATER. Data current as of Thursday, April 11, 2013.
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Summary: THE REPRESENTATIVE, HOWARD SLATER, IS NOT A NAMED RESPONDENTIN THIS MATTER.
Disclosure 4 of 5
i
Reporting Source: Broker
Employing firm whenactivities occurred which ledto the complaint:
Allegations:
SECURITIES AMERICA, INC.
IN CONNECTION WITH THE RECOMMENDATION AND SALE OF VARIOUSINVESTMENTS FROM MID 2007 TO MID 2008, CLAIMANT ALLEGES BREACHOF FIDUCIARY DUTY, VIOLATIONS OF THE OHIO SECURITIES ACT, FRAUD,MISREPRESENTATION, AND UNSUITABILITY.
Product Type: Direct Investment-DPP & LP InterestsMutual FundReal Estate Security
Alleged Damages: $488,000.00
Date Complaint Received: 07/09/2012
Complaint Pending? Yes
Settlement Amount:
Individual ContributionAmount:
Summary: HOWARD SLATER IS NOT A NAMED RESPONDENT.
Customer Complaint Information
Is this an oral complaint? No
Is this a written complaint? Yes
Is this an arbitration/CFTCreparation or civil litigation?
Yes
Arbitration/Reparation forumor court name and location:
FINRA
Docket/Case #: 12-02375
Filing date ofarbitration/CFTC reparationor civil litigation:
06/26/2012
29©2013 FINRA. All rights reserved. Report# 85949-85534 about HOWARD A. SLATER. Data current as of Thursday, April 11, 2013.
www.finra.org/brokercheck User Guidance
Disclosure 5 of 5
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Reporting Source: Broker
Employing firm whenactivities occurred which ledto the complaint:
Allegations:
SECURITIES AMERICA, INC.
BEGINNING IN SEPT OF 2005 THROUGH MARCH OF 2008, CLAIMANTSALLEGE THAT THE REPRESENTATIVE MADE RECOMMENDATIONS FORALTERNATIVE INVESTMENTS WHICH WERE UNSUITABLE. ALLEGATIONSINCLUDE: OVERCONCENTRATION, MISREPRESENTATIONS ANDOMISSIONS, FRAUD, BREACH OF FIDUCIARY DUTY, AND NEGLIGENCE.
Product Type: Direct Investment-DPP & LP InterestsReal Estate Security
Alleged Damages: $590,000.00
Date Complaint Received: 01/30/2012
Complaint Pending? Yes
Settlement Amount:
Individual ContributionAmount:
Summary: HOWARD SLATER IS NOT A NAMED RESPONDENT AND DENIES ALLIMPLIED CLAIMS AGAINST HIM, CEDAR BROOK AND THE BROKER DEALER.
Customer Complaint Information
Alleged Damages AmountExplanation (if amount notexact):
THIS IS A MULTI-CLIENT CLAIM INVOLVING MORE THAN ONEREPRESENTATIVE. ALLEGED DAMAGES FOR THIS REPRESENTATIVE ARE$380,000.
Is this an oral complaint? No
Is this a written complaint? Yes
Is this an arbitration/CFTCreparation or civil litigation?
Yes
Arbitration/Reparation forumor court name and location:
FINRA
Docket/Case #: 11-04451
Filing date ofarbitration/CFTC reparationor civil litigation:
11/22/2011
30©2013 FINRA. All rights reserved. Report# 85949-85534 about HOWARD A. SLATER. Data current as of Thursday, April 11, 2013.
www.finra.org/brokercheck User Guidance
Summary: HOWARD SLATER IS NOT A NAMED RESPONDENT AND DENIES ALLIMPLIED CLAIMS AGAINST HIM, CEDAR BROOK AND THE BROKER DEALER.
31©2013 FINRA. All rights reserved. Report# 85949-85534 about HOWARD A. SLATER. Data current as of Thursday, April 11, 2013.
www.finra.org/brokercheck User Guidance
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32©2013 FINRA. All rights reserved. Report# 85949-85534 about HOWARD A. SLATER. Data current as of Thursday, April 11, 2013.