JOHN PATRICK BECKER is currently employed as a Broker and/or Investment Adviser at KBD SECURITIES, LLC located at 470 PARK AVENUE SOUTH, NEW YOYK, NY, 10016.
JOHN PATRICK BECKER has worked at KBD SECURITIES, LLC since May 30, 2008
Disclosure History
JOHN PATRICK BECKER has 1 Disclosure Event(s).
Date: March 24, 2008 Category: Customer Dispute Allegations: CUSTOMER ALLEGES THAT REGISTERED REPRESENTATIVE DID NOT EXPLAIN THE LIQUIDITY RISKS FOR AUCTION RATE SECURITIES. Damage Amount Requested: $2,875,000.00 Settlement Amount: $875,000.00 Broker Comment: THIS MATTER INVOLVES THE SALE OF AUCTION RATE SECURITIES (ARS). THE TRANSACTION(S) AT ISSUE TOOK PLACE BEFORE MID-FEBRUARY 2008, WHEN THE ARS MARKET SUFFERED WIDESPREAD AUCTION FAILURES AND ILLIQUIDITY. I DID NOT CAUSE, CONTRIBUTE OR HAVE ANY CONTROL WHATSOEVER OVER THESE MARKET EVENTS. FIDELITY SECURITIES LLC VOLUNTARILY REPURCHASED ARS FOR THEIR FULL PAR VALUE FROM CERTAIN CLIENTS, INCLUDING [CUSTOMER], WHETHER THEY COMPLAINED OR NOT. I WAS NOT A PARTY TO THAT AGREEMENT, DID NOT MAKE ANY PAYMENTS TO THE CLIENT, AND WAS NOT ASKED TO AND DID NOT CONTRIBUTE TO THE REPURCHASE AMOUNT. THE SETTLEMENT AMOUNT IN ITEM 11 ABOVE REFLECTS THE PAR VALUE OF THE REPURCHASED ARS, AS REQUIRED BY FINRA REGULATORY NOTICE 09-12.
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