RYAN STECKLER is currently employed as a Broker and/or Investment Adviser at JANNEY MONTGOMERY SCOTT LLC located at 3300 PGA BLVD, SUITE 900, PALM BEACH GARDENS, FL, 33410.
RYAN STECKLER has worked at JANNEY MONTGOMERY SCOTT LLC since July 18, 2016
Disclosure History
RYAN STECKLER has 3 Disclosure Event(s).
Date: July 26, 2010 Category: Customer Dispute Allegations: TIME FRAME DECEMBER 2007 TO FEBRUARY 2008 CLAIMANTS ALLEGE THAT FA MADE UNSUITABLE RECOMMENDATIONS TO INVEST IN LEHMAN BROTHERS PREFERRED STOCK. Damage Amount Requested: $70,000.00 Settlement Amount: $35,000.00 Broker Comment: THE MATTER WAS SETTLED SETTLED TO AVOID COST AND UNCERTAINTIES ASSOCIATED WITH ARBITRATION, ANY LOSES WERE INCURRED AS A RESULT OF THE LEHMAN BANKRUPTCY.
Date: October 30, 2008 Category: Customer Dispute Allegations: TIME FRAME: OCTOBER 27, 2008 TO PRESENTCLIENT ALLEGES THAT THE FA FAILED TO ADVISE HIM REGARDING A RESEARCH REPORT THAT WAS ISSUED BY THE FIRM WHICH DOWNGRADED FHLB ON THE DAY HE PURCHASED THE STOCK ON THE RECOMMENDATION OF THE FA. DAMAGES ESTIMATED TO BE IN EXCESS OF $5,000. Damage Amount Requested: $5,000.00 Broker Comment: CLIENT CALLED ON 10/28/08 AND ASKED FOR YIELDS ON FHLB BONDS WITH MATURITIES OF 2016 - 2018. INFORMED CLIENT OF THE YIELDS AND HE CHOSE 25 BONDS HE WANTED TO BUY. THIS BROUGHT THE NUMBER OF FHLB BONDS OWNED TO 330,000 FACE. THE REMAINING 305 BONDS WERE BOUGHT BY ANOTHER FA AND I WAS ASSIGNED THIS CLIENT IN JULY 08. CLIENT CALLED ON 10/29/08 ASKING WHY VALUE OF HLB BONDS HAD DROPPED. I CALLED THE BOND DESK AND WAS DIRECTED TO RESEARCH REPORT DATED 10/27/08 AND SUBSEQUENTLY E-MAILED REPORT TO CLIENT ON 10/29/08. THE FIRM DID NOT DOWNGRADE OR CHANGE POSITION ON THE SECURITIES HELD BY CLIENT DESPITE WHAT THE CLIENT ALLEGES IN HIS LETTER. CLIENT THEN ASKED ME TO BID ALL AGENCY BONDS ON 10/29/08. CLIENT SOLD 2 POSITIONS. THE FHLB BOND BOUGHT ON 10/28/08 WAS SOLD AT A LOSS OF LESS THAN $500. CLIENT ON 10/30/08 ASKED ME TO RE-BID THE REMAINING BONDS IN HIS ACCOUNT. I CALLED THE CLIENT BACK WITH BIDS AND CLIENT DECIDED TO SELL.THE CLIENT IS AN EXPERIENCED INVESTOR WHO WORKED IN THE FINANCIAL INDUSTRY FOR MANY YEARS. HE IS CURRENTLY AN ARBITRATOR. I WAS ABLE TO GET THE RESEARCH REPORT TO THE CLIENT WITHIN 24-48 HOURS OF IT ISSUE TO THE CLIENT. CLIENT READ THE REPORT AND MADE HIS DECISION.
Date: May 20, 2008 Category: Customer Dispute Allegations: THE COMPLAINT AROSE OUT OF THE SALE OF AN AUCTION RATE SECURITY (ARS) THAT WAS MADE PRIOR TO THE WIDESPREAD ILLIQUIDITY IN THE ARS MARKET THAT OCCURRED IN FEBRUARY 2008. Settlement Amount: $225,000.00 Broker Comment: THE COMPLAINT AROSE IN CONNECTION WITH THE INDUSTRY WIDE BREAKDOWN OF THE LIQUIDITY IN THE MARKET FOR AUCTION RATE SECURITIES ("ARS"). THE FIRM AGREED TO REPURCHASE THE ARS SECURITIES AT ISSUE AT PAR VALUE FROM THE CLIENT PURSUANT TO A GLOBAL REPURCHASE AGREEMENT IT ENTERED INTO WITH SEVERAL REGULATORY BODIES. THIS WAS NOT A SETTLEMENT OF A DISPUTE BETWEEN THE CLIENT AND THE REPRESENTATIVE AND WAS NOT BASED ON THE MERITS OF THE CLIENT'S SPECIFIC CONCERNS OR ANY FINDING OF FAULT OR WRONGDOING BY THE NAMED REPRESENTATIVE. THE NAMED REPRESENTATIVE WAS NOT A PARTY TO, AND DID NOT AGREE TO OR PARTICIPATE IN, THE REPURCHASE AGREEMENT BETWEEN THE FIRM AND THE RELEVANT REGULATORY BODIES. THE NAMED REPRESENTATIVE DID NOT MAKE ANY PAYMENTS TO THE CLIENT AND THE NAMED REPRESENTATIVE WAS NOT ASKED TO AND DID NOT CONTRIBUTE TO THE SETTLEMENT AMOUNT. THE LISTED "SETTLEMENT AMOUNT" REPRESENTS ONLY THE GROSS INITIAL PAR VALUE OF THE ARS POSITION AND DOES NOT TAKE INTO ACCOUNT THE ACTUAL VALUE OF THE ARS POSITION AT THE TIME THE FIRM RECEIVED IT BACK FROM THE CLIENT IN CONNECTION WITH THE SETTLEMENT. THIS MATTER IS BEING REPORTED AS A SETTLEMENT PURSUANT TO THE REQUIREMENTS OF FINRA REGULATORY NOTICE 09-12.
More Information
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