Robert Spaulding Gleason Jr. (CRD #1415067, Owensboro, Kentucky)

April 5, 2024 – An AWC was issued in which Gleason was assessed a deferred fine of $5,000 and suspended from association with any FINRA member in all capacities for three months. Without admitting or denying the findings, Gleason consented to the sanctions and to the entry of findings that he willfully violated the Best Interest Obligation under Rule 15l-1(a)(1) of the Exchange Act by recommending a series of transactions in the account of a retail customer that was excessive in light of the customer’s investment profile and, therefore, was not in the customer’s best interest. The findings stated that in recommending these transactions, Gleason placed his interests ahead of the interests of the customer. At the time of the trading, the customer was in her early sixties, and had an investment profile reflecting an income of $50,000 and a liquid net worth of $700,000. Gleason’s recommendations for the customer involved a pattern of in-and-out, short-term trading, and he failed to consider the cumulative costs of his trading. As a result, the customer paid more than $28,000 in commissions and trade costs during an 11-month period. Gleason settled with the customer through voluntary mediation. The suspension is in effect from April 15, 2024, through July 14, 2024. (FINRA Case #2021069335701) If you have suffered losses as a result of Robert Spaulding Gleason Jr.'s act and/or actions we would like to hear from you. We are currently investigating claims on behalf of clients who have suffered significant losses in their portfolios that are managed by Robert Spaulding Gleason Jr. The Schwartz Law Firm represents investors in claims against financial advisors and their firms. If you have questions about your potential claim or need assistance from an investment fraud lawyer, please contact us at 866-618-0545 or email Matthew Schwartz directly at mschwartz@tslfirm.com.