JEFFREY PETER GORDON is currently employed as a Broker and/or Investment Adviser at CELADON FINANCIAL GROUP LLC located at 19 CENTER STREET, CHATHAM, NJ, 07928.


Disclosure History

JEFFREY PETER GORDON has 1 Disclosure Event(s).

Date: April 17, 2017
Category: Customer Dispute
Allegations: This matter involves a dispute over the validity of an order placed by Firstline Securities, a foreign broker dealer. On June 17, 2016 Firstline placed an order with Celadon by IM to sell Digicel Ltd. bonds for its account with Celadon and gave a target price. The target price was reached and the bonds were sold. Firstline subsequently claimed that the sale of the bonds was unauthorized. The losses were due to margin calls and buy-ins that resulted when Firstline refused to accept any responsibility for the trade.
Damage Amount Requested: $87,000.00
Broker Comment: An internal review concluded that the Firstline complaint is without merit or foundation. IM transcripts support this conclusion. Celadon plans to vigorously contest the arbitration claim. There simply was no unauthorized sale: our respective trading desks discussed the terms of the sale of the bonds in multiple conversations over the course of two trading days. The Firstline trader communicated a firm offer by IM and admitted as much in writing. It was later determined that Firstline had been trying to sell the bonds on behalf of one of its own customers. The customer reneged on the trade and failed to deliver the bonds, thereby creating a short position in Firstline's account with Celadon. Thereafter, the short position was closed out as the result of margin calls and buy-ins. Even though it claims it was the aggrieved party, Firstline refused to take any action to mitigate the losses it sustained. Additionally, Mr. Gordon was acting within the scope of his corporate capacity in accepting the bond order and did not engage in any wrongdoing.

More Information

All individuals registered to sell securities or provide investment advice are required to disclose customer complaints and arbitrations, regulatory actions, employment terminations, bankruptcy filings and criminal or civil judicial proceedings.

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.

To view the full report for JEFFREY PETER GORDON, click here.

The use of BrokerCheck data is subject to the BrokerCheck Terms of Use.