Casey Arundel (CRD# 4925418), a financial advisor based in Atlanta, Georgia, was recently terminated by UBS Financial Services following allegations of unauthorized trading and lack of forthcomingness. FINRA records indicate that Arundel is currently registered as both a broker and investment advisor with Arkadios Capital.
Allegations and Case Information
According to Arundel’s BrokerCheck report, UBS Financial Services discharged him in November 2024 after an internal review concluded he had “traded without authorization in client accounts and was not forthcoming.” The disclosure does not provide further details regarding the specific allegations.
Unauthorized trading is a serious violation of FINRA rules and can result in significant consequences for the advisor and their clients. FINRA Rule 3260 outlines the conditions under which brokers may execute discretionary trades, requiring prior written authorization from the customer and written approval from the firm. Additionally, FINRA Rule 2010 mandates that brokers maintain high standards of commercial honor and just and equitable principles of trade, which generally prohibits conducting unauthorized trades.
Investors who have suffered damages due to unauthorized trading by their financial advisor may have grounds to seek recovery through FINRA arbitration or other legal means. It is crucial for investors to regularly review their account statements and promptly raise concerns about any unauthorized activity.
Advisor Background and Regulatory History
Casey Arundel has been in the securities industry for 11 years, according to FINRA records. Prior to his current registration with Arkadios Capital in February 2025, he was registered with the following firms:
- UBS Financial Services (2015-2024)
- Merrill Lynch (2014-2015)
- LPL Financial (2013-2014)
Arundel holds several securities industry qualifications, including the Series 31 (Futures Managed Funds Examination), SIE (Securities Industry Essentials Examination), Series 7 (General Securities Representative Examination), and Series 66 (Uniform Combined State Law Examination). He is licensed to conduct business in multiple states, including California, Connecticut, Georgia, New York, and others.
A review of Arundel’s BrokerCheck report reveals no prior disclosures or regulatory actions apart from his recent termination from UBS Financial Services.
Understanding FINRA Rules and Consequences
Financial advisors are bound by FINRA rules, which aim to protect investors and maintain the integrity of the securities industry. When advisors engage in unauthorized trading, they violate the trust placed in them by their clients and expose investors to potential financial harm.
FINRA Rule 3260 specifically addresses discretionary trading, requiring advisors to obtain written authorization from clients and approval from their firm before executing such trades. This rule ensures that investors are fully aware of and consent to any discretionary trading in their accounts.
Violations of FINRA rules can result in serious consequences for advisors, including:
- Termination by their employer
- Fines and penalties imposed by FINRA
- Suspension or permanent bar from the securities industry
- Legal action and potential liability for investor losses
Lessons for Investors
The case of Casey Arundel serves as a reminder of the importance of investor vigilance and due diligence when working with financial advisors. Here are some key lessons for investors:
- Regularly review account statements: Carefully examine your investment account statements to identify any unauthorized trades or suspicious activity.
- Communicate with your advisor: Maintain open lines of communication with your financial advisor and promptly address any concerns or questions about your investments.
- Research your advisor’s background: Utilize resources like FINRA’s BrokerCheck to investigate your advisor’s regulatory history, qualifications, and any past disciplinary actions.
- Understand your rights: Familiarize yourself with FINRA rules and your rights as an investor. If you suspect misconduct, consult with a qualified securities attorney to explore your options for recovery.
As the famous investor Warren Buffett once said, “Risk comes from not knowing what you’re doing.” By staying informed and proactive, investors can better protect themselves from the potential consequences of working with unscrupulous financial advisors.
It is worth noting that while the vast majority of financial advisors are ethical and act in their clients’ best interests, a small percentage engage in misconduct. According to a 2022 study by the Securities Litigation and Consulting Group, approximately 7% of financial advisors have a history of misconduct on their record.
If you believe you have been the victim of unauthorized trading or other forms of investment fraud, it is essential to take action promptly. Contact a experienced securities attorney to discuss your legal rights and potential avenues for recovery.
