Constantine G. Nicholson

Constantine G. Nicholson is currently employed as a Broker and/or Investment Adviser at KOVACK SECURITIES INC. located at 6451 N. FEDERAL HWY., SUITE 1201, FT. LAUDERDALE, FL, 33308.

Constantine G. Nicholson has worked at KOVACK SECURITIES INC. since June 06, 2017

Disclosure History

Constantine G. Nicholson has 8 Disclosure Event(s).

Date: July 12, 2012
Category: Customer Dispute
Allegations: CLIENT CLAIMS THEY WERE UNAWARE THAT THEY WERE ENTERING IN TO A NEW VARIABLE ANNUITY CONTRACT IN MAY OF 2011, AND IS REQUESTING A RETURN OF THEIR PRINCIPLE VALUE WITH NO SURRENDER CHARGES.
Damage Amount Requested: $5,000.00

Date: June 16, 2012
Category: Customer Dispute
Allegations: CUSTOMER ALLEGED THAT REPRESENTATIVE UTILIZED AN OPTIONS STRATEGY THAT WAS UNSUITABLE.
Damage Amount Requested: $5,000.00
Settlement Amount: $185,000.00
Broker Comment: I WOULD DIRECT ATTENTION TO ITEM #11, SETTLEMENT/AWARD/MONETARY JUDGMENT IN THE AMOUNT OF $185,000.00 WHICH REFLECTS THAT I WAS NOT ASKED TO CONTRIBUTE OR INVOLVED IN THE SETTLEING OF THE COMPLAINT PROCESS AT ALL, WAS NOT CONTACTED BY MOORS & CABOT OR THEIR LEGAL REPRESENTATIVE AND, THEREFORE, WAS UNAWARE OF THE DETAILS & EXTENT OF THIS COMPLAINT. I DISPUTE THE ALLEGATIONS MADE BY CLIENT AS UNSUITABLE OPTIONS STRATEGY EMPLOYED. THE STRATEGY EMPLOYED WAS COVERED CALL WRITING AND NOTHING ELSE. IF STOCKS WERE EXERCISED OR CALLED AWAY FROM CLIENT AND SUBSEQUENT TO WRITING OF THE CALLS, THE STOCKS WENT UP, IT WAS FULLY EXPLAINED TO THE CLIENT AND UNDERSTOOD BY THE CLIENT AT THE VERY BEGINNING AND UNDERSTOOD BY THE CLIENT.THIS WAS A SHARED ACCOUNT WITH REGINALD BERTHIUME AND MANY OF THE INVESTMENTS MADE BY MR. BERTHIUME, PRIOR TO INTRODUCING ME INTO THE SHARED PROCESS INCLUDED LIMITED PARTNERSHIPS, KBS AND PASCO, IN WHICH INVESTMENTS THE CLIENT LOST A CONSIDERABLE AMOUNT OF MONIES. I WAS NOT PART OF THOSE RECOMMENDATIONS, DID NOT SHARE IN ANY COMPENSATION AS THEY OCCURRED SEVERAL YEARS BEFORE MY INVOLVEMENT.THE OPTION STRATEGY INVOLVEED COVERED CALL WRITING THAT TO THE BEST OF MY RECOLLECTION THE CLIENT NEVER SUSTAINED A LOSS OF MONEY ONLY TO WHICH THAT AFTER A FEW STOCKS MAY HAVE BEEN EXERCISED, STOCKS SUBSEQUENTLY MAY HAVE GONE UP.

Date: October 09, 2009
Category: Customer Dispute
Allegations: CUSTOMER ALLEGES UNSUITABLE RECOMMENDATIONS AND EFFECTED AN EXCESSIVE AMOUNT OF TRANSACTIONS
Damage Amount Requested: $13,594.00
Settlement Amount: $12,000.00

Date: April 26, 1999
Category: Customer Dispute
Allegations: ALLEGED SUITABILITY, UNAUTHORIZED TRANSACTIONS, BREACH OF CONTRACT. (TOTALLY WITHOUT MERIT PER C.G.N.)
Damage Amount Requested: $122,000.00
Settlement Amount: $100,000.00
Broker Comment: PSI SETTLED THIS MATTER FOR BUSINESS REASONS. MR. NICHOLSON WAS NOT ASKED TO CONTRIBUTE TO THE SETTLEMENT. I WAS NOT ASKED TO CONTRIBUTE AND WAS UNAWARE OF INTENDED SETTLEMENT BY PRU. I THOUGHT IT WAS GOING TO ARBITRATION. C.G.N.

Date: March 31, 1998
Category: Regulatory

Date: August 09, 1996
Category: Customer Dispute
Allegations: CUSTOMERS ALLEGED BROKER MADE TRADES ON ANUNAUTHORIZED BUT DISCRETIONARY BASIS COVERED CALLS STOCK CALLEDAWAY CLIENT CONSIDERED THIS TO BE UNAUTHORIZED TRADES SEEKING$300,000
Damage Amount Requested: $300,000.00
Settlement Amount: $106,000.00
Broker Comment: PSI SETTLED THIS CASE FOR $106,000.00 I DID NOTCONTRIBUTE TO THE SETTLEMENT AND WAS NOT EVEN TOLD THE AMOUNTOF THE SETTLEMENT OR ASKED TO CONTRIBUTENOT PROVIDED

Date: June 03, 1996
Category: Employment Separation After Allegations
Firm Name: PRUDENTIAL SECURITIES INCORPORATED
Termination Type: Permitted to Resign
Allegations: N/APRUDENTIAL ALLEGES CLIENT VERBALLY ALLEGEDUNSPECIFIED DAMAGES AS A RESULT OF INAPPROPRIATE OPTION TRADINGIN AMERICA ONLINE. THIS WAS OVER A PERIOD OF 15 MONTHS ORMORE. I ALSO HAVE A SIGNED AFFIDAVIT FROM CLIENT STATING NOSUCH ALLEGATIONS EVER SAID.
Broker Comment: EMPLOYMENT TERMINATEDPRUDENTIAL REACHED A SETTLEMENT FOR 100,000. IDID NOT CONTRIBUTE (SEE ATTACHMENT)

Date: March 04, 1991
Category: Customer Dispute
Allegations: CLIENT ALLEGES MISREPRESENTATION, EXCESSIVEUNAUTHORIZED TRADING ON MARGIN. ALLEGED DAMAGES AREUNSPECIFIED.
Settlement Amount: $85,700.00
Broker Comment: PSI SETTLED THIS MATTER FOR $85,700.00. MR.NICHOLSON DID NOT CONTRIBUTE TO THE SETTLEMENT.THIS SETTLEMENT WAS DONE AT THE HEIGHT OF THELIMITED PARTNERSHIP PROBLEMS. I WAS OPPOSED TO SETTLEMENT ANDWOULD HAVE PREFERRED TO GO THE ARBITRATION BUT THE FIRM ELECTEDTO SETTLE.

More Information

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A disclosure includes information about customer disputes, disciplinary events and financial matters on the broker's record as reported by securities regulators, the individual broker, and any involved firms. Some of these items may involve pending actions or allegations that have not been resolved or proven. The presence of a disclosure does not automatically indicate any wrongdoing.

BrokerCheck is the source of the data included in this Report. The data was compiled on June 29, 2018.

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