ARTHUR NICHOLAS KARABELAS is currently employed as a Broker and/or Investment Adviser at FIRST REPUBLIC SECURITIES COMPANY, LLC located at 160 Federal Street, Boston, MA, 02110.
ARTHUR NICHOLAS KARABELAS has worked at FIRST REPUBLIC SECURITIES COMPANY, LLC since November 03, 2017
Disclosure History
ARTHUR NICHOLAS KARABELAS has 2 Disclosure Event(s).
Date: October 05, 2015 Category: Customer Dispute Allegations: Customer alleges that broker's recommendation of Master Limited Partnerships were unsuitable in light of her investment objectives for a conservative, income-producing portfolio. Damage Amount Requested: $500,000.00 Settlement Amount: $75,000.00 Broker Comment: Client's allegations of unsuitable recommendations were without merit and my recommendations were consistent with the Trusts' investment objectives and the express request of the Client as trustee for maximum income from the accounts. The settlement was reached for economic reasons and I was not named as a respondent to the suit. I was not asked to contribute to the settlement.
Date: April 16, 2008 Category: Customer Dispute Allegations: CLIENT ALLEGES MISREPRESENTATION, UNSUITABILITY AND VIOLATIONS OF SECTION 93 A OF THE MASSACHUSETTS GENERAL LAWS CONCERNING AUCTION MARKET SECURITIES. DAMAGES UNSPECIFIED. Broker Comment: THIS COMPLAINT AROSE OUT OF THE UNPRECEDENTED ILLIQUIDITY IN THE AUCTION RATE SECURITIES MARKET. PRIOR TO THE RECENT WIDESPREAD AUCTION FAILURES, AUCTION MARKET SECURITIES WERE SOLD THROUGHOUT THE FINANCIAL SERVICES INDUSTRY AS HIGHLY LIQUID INSTRUMENTS AND WERE APPROPRIATELY REGARDED BY THE INDUSTRY AS HIGHLY LIQUID INVESTMENTS. ALL ALLEGATIONS OR WRONGDOING, INCLUDING UNSUITABILITY ARE EXPRESSLY DENIED."
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