FINRA has barred former broker Douglas Wayne Studer, who was named in estate documents to inherit his 91-year-old customer’s waterfront condominium in Fort Lauderdale, Florida.FINRA investigated Studer for potentially violating his former employer’s firm policy by being named in his customer’s estate documents, according to a settlement notice accepted by FINRA’s department of enforcement. FINRA started looking into the former broker in 2012. On August 2, FINRA asked Studer to provide on-the-record testimony, but he failed to appear. In settling the matter, he agreed to be barred without admitting or denying FINRA’s findings.
Studer, who had been a broker for 15 years, worked for Kovack Securities Inc., from October 8 until his termination in July. There are two customer disputes listed on his BrokerCheck profile, both of which have been closed.If you or someone you know has lost money as a result of an investment or Ponzi scheme, please contact Richard Frankowski at 888-741-7503 to discuss your potential legal remedies or complete the contact form.