Timothy Neil Tremblay, a currently registered broker and investment adviser in Santa Barbara, CA, is subject to an investigation by the Securities and Exchange Commission (“SEC”) and multiple customer dispute disclosures alleging unsuitable investments and unauthorized trading, among others, according to his Brokercheck Report.
Rosca Scarlato LLC attorney Alan Rosca and his colleagues are investigating the circumstances surrounding Tremblay’s regulatory action and customer dispute disclosures. Investors who are concerned about their investments with Timothy Tremblay may contact Alan Rosca for a free case evaluation or to provide any helpful information by calling 888-998-0530 toll free, emailing arosca@rscounsel.law, or through the contact form found on our website.
The SEC is Investigating Timothy Tremblay
According to Tremblay’s Brokercheck Report, on August 24, 2023, an investigation was initiated by the SEC, seeking various sanctions, including a Bar, Cease and Desist, and Disgorgement, among others. The action is filed under Case #: C-08828, and the regulator is alleging violations of Regulation Best Interest by failing to comply with the Care Obligation found in Rule 151-1(a)(2)(ii). The investigation shows as pending as of the date of this post.
Tremblay’s Customer Dispute Disclosures
A customer dispute disclosure was reportedly received in June of 2023 (Case #: 23-01527). The customer alleged unsuitable and high-risk investments and requested $800,000 in alleged damages.
In August of 2022, a customer dispute disclosure was allegedly filed, and the customer reportedly made similar allegations requesting unspecified damages (Case #: 22-02218).
Tremblay was reportedly subject to a customer dispute disclosure received in March of 2015. The customer claimed that he was not aware of an investment’s maturation term and requested $8,600 in alleged damages. The dispute was allegedly settled for $4,300.
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Two customer dispute disclosures were allegedly received in February of 2013 from the same customer. A dispute disclosure received on February 4, 2013, alleged that a client’s investment portfolio was invested poorly (Case #: 13-01324) and requested $173,745.21 in alleged damages.
A dispute dated February 25, 2013, requested $67,156 and alleged unsuitable recommendations and misrepresentation. The reported settlement was $119,375.55.
In July of 1994, a customer dispute disclosure was reportedly received alleging unauthorized trading of mutual funds. The dispute was reportedly settled for $20,000.
Timothy Tremblay Has Been a Registered Broker Since 1983
According to his Brokercheck, Timothy Tremblay has been registered as a broker and investment adviser with Centaurus Financial Inc. in California since 2003.
From 1997 to 2003, Tremblay reportedly served as a broker with Washington Square Securities, Inc., in Santa Barbara, California. He allegedly also was an investment adviser with the firm from 2001 to 2003.
Tremblay reportedly was registered as a broker with Cruttenden Roth Incorporated, in Newport Beach, California, from 1995 to 1997.
Potential Compensation Claims for Concerned Tremblay Investors
The Rosca Scarlato LLC law firm represents investors who lose money as a result of investment-related fraud or misconduct and is currently investigating circumstances surrounding registered broker and investment adviser Timothy Tremblay’s regulatory action and customer dispute disclosures alleging unsuitable investments and unauthorized trading, among others.
Rosca Scarlato LLC law firm typically represents clients on a contingency fee basis. This means that it advances the case costs and expenses, and fees are only paid from any compensation retrieved for clients. Attorney Alan Rosca, an investment loss lawyer and former adjunct professor of securities regulation, has over 14 years of experience representing investors who have experienced investment loss due to broker misconduct.
Investors who are concerned about their investments with Timothy Tremblay may contact attorney Alan Rosca for a free no-obligation consultation by calling toll-free 888-998-0530, via email at arosca@rscounsel.law, or through the contact form provided on our website.
It is important to note that, as of the date of this article, there has not been a finding of liability as to the complaints or allegations mentioned in this article, unless otherwise indicated. Any reader should also read the original sources hyperlinked in this blog for accuracy, including any Brokercheck report and/or record of any disciplinary or regulatory action. Those sources are incorporated by reference into the text of this blog and are the governing materials in case of any inconsistencies or typos in this blog. Readers should note that sometimes brokers may be able to expunge past customer complaints from their Brokercheck record, such that complaints referenced as of the date of this blog may not necessarily be reflected in future versions of the Brokercheck record. While the customer complaints mentioned in the Brokercheck report allege misconduct by Timothy N. Tremblay, the Brokercheck report does not appear to indicate whether he was a named party to those customer complaints, or the customers took action solely against the broker-dealer firm(s) that employed him at the time of the alleged conduct. Readers interested to learn more are encouraged to read the Brokercheck report or contact the Rosca Scarlato investor lawyers.
