Today’s contestant in “Is Marc Dobin an idiot?” is Larry Scott from the venerable (not) firm of Salomon Whitney Financial. Larry’s claim to fame is two criminal disclosures on his Brokercheck report (both for marijuana possession) and working for a variety of firms with little or no reputation.
The telephone connection was terrible and I don’t know whose fault that was, but we spoke long enough for Larry to ask me if I followed a stock “…like [I] said [I] would.” I told Larry that we had never spoken before. He hung up.
Even more interesting, however, is that Larry IS NOT REGISTERED IN FLORIDA. Now, to give this guy the benefit of the doubt, maybe he is dyslexic and couldn’t distinguish the 561 area code, which is in Florida, from the 516 area code, which is Long Island where Larry smiles and dials for fun and profit.
Either way, he certainly annoyed me but he probably didn’t violate any FINRA rules. However, he may have violated Florida law. If I had purchased something from him based on this phone call, he most certainly would have.
Written Supervisory Procedures are supposed to be in place to prevent this from happening. But my experience with these cold calling firms from New York City and Long Island is that they are short on procedures and long on cold callers. So, Larry Scott, here’s to you and welcome to the club.
That’s the view of one lawyer from Jupiter, Palm Beach County, Florida. I’m Marc Dobin.