Complaint Review: Elliot H. Sherer

Elliot Hough Sherer of Melville New York is a stockbroker currently registered with Aegis Capital Corp. who is the subject of a customer initiated investment related written complaint which settled for $8,000.00 in damages founded on allegations that (1) the customer’s margin account was excessively utilized (2) unsuitable investment recommendations were made to the customer (3) excessive commissions had been charged on investment transactions between December 10, 2012 and November 1, 2016.

Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Sherer has been identified in seven additional customer initiated investment related disputes containing accusations of Sherer’s violative conduct during the period that he was registered with Prestige Financial Center, Inc. and S.W. Bach & Company. Specifically, on August 24, 2004, a customer filed an investment related written complaint concerning Sherer’s conduct where the customer requested $15,800.00 in damages supported by allegations that Sherer executed an unauthorized sale of PETM and unauthorized purchase of IOTN in the customer’s investment account.

On May 19, 2005, another customer filed an investment related written complaint involving Sherer’s conduct, in which the customer sought $10,370.02 in damages based upon accusations of poor investment performance and over-the-counter equities transactions having been effected in the customer’s account on an excessive basis. On May 30, 2006, another customer filed an investment related written complaint regarding Sherer’s activities where the customer requested $30,000.00 in damages founded on allegations that the customer’s investment instructions were not followed, and transactions had been executed in the customer’s account without the customer’s consent.