According to FINRA’s Brokercheck, Austin Dutton was registered with Newbridge Securities from August 2007 to August 2017. In July 2017, the Pennsylvania Department of Banking and Securities fined Austin Dutton $200,000 for dishonest or unethical practices in the securities business. Furthermore, in July 2017 the state of Pennsylvania fined Newbridge Securities $499,000 for failing to supervise a broker with sales of structured products to clients within the state.
According to Investment News, Mr. Dutton was well known in the Philadelphia area as a leading seller of REITs managed by American Realty Capital. American Realty Capital is a real estate investment company controlled by Nicholas Schorsch. Hanley Law is investigating whether clients may have also bought REITs sponsored by United Development Funding. United Development Funding had its offices raided by the FBI two years ago after a hedge fund alleged it was operating like a Ponzi scheme. Austin Dutton was affiliated with Bridge Valley Financial Services.
Dutton entered the securities industry in 1996. He was registered with seven firms, including Newbridge Securities Corporation which he joined in August 2007. According to FINRA’s Brokercheck, Austin Dutton was registered with the securities industry for 21 years, and was registered with the following firm(s):
Sandlapper Securities, LLC
CRD# 137906
Greenville, SC
09/2017-Present
Center Street Securities, Inc.
CRD# 26898
Nashville, TN
07/2017- Present
Newbridge Securities Corporation
CRD# 104065
Furlong, PA
08/2007-07/2017
Boenning & Scattergood, Inc.
CRD# 100
Langhorne, PA
01/2002-08/2007
Ferris, Baker Watts Incorporated
CRD# 285
Baltimore, MD
06/2000-01/2002
A.G. Edwards & Sons, Inc.
CRD# 4
St. Louis, MO
12/1997-07/2000
Prudential Securities Incorporated
CRD# 7471
New York, NY
06/1996-11/1997
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