If you are an investor who worked with Clifford Ronald Reid (CRD# 1905920) at Reid & Rudiger LLC in New York, NY, it is important to be aware of recent developments concerning his professional record. The experienced team at Haselkorn & Thibaut (investmentfraudlawyers.com) is conducting a thorough investigation into the advisory activities of Mr. Reid and his firm following reports of customer disputes and regulatory concerns. If you have suffered losses or are uncertain about the management of your investment account, you may qualify for a free consultation with our nationally recognized securities attorneys. Our firm brings over 50 years of experience, a 98% success rate, and a nationwide reach to help investors just like you—call 1-888-885-7162 today for a confidential review. Remember, there are no fees unless we recover for you.
Who is Clifford Ronald Reid?
| Name | Clifford Ronald Reid |
| CRD Number | 1905920 |
| Firm | Reid & Rudiger LLC (CRD# 135736) |
| Primary Location | New York, NY |
| Roles | Stockbroker, Financial Advisor, Co-founder, Client Development |
| Registered Since | 2004 |
| Licenses | Series 7, Series 66 |
According to public disclosure, Mr. Reid has worked in the finance industry for more than two decades and serves as a key executive at Reid & Rudiger LLC, a boutique brokerage firm based in New York City. His role involves both advising clients and building relationships on behalf of the firm.
Regulatory History and Disclosures
Currently, Haselkorn & Thibaut is reviewing the following circumstances and disclosures regarding Clifford Reid:
- Active FINRA Investigation: Initiated on March 3, 2026, this ongoing regulatory examination involves allegations of unsuitability, excessive trading (commonly referred to as churning), and violations of multiple FINRA rules including Rule 2111 (Suitability) and Rule 2010 (Standards of Commercial Honor and Principles of Trade).
- Pending Customer Disputes: Two unresolved customer complaints have been filed, alleging excessive trading and excessive commissions. The specific dollar amounts sought have not been disclosed as of the latest update.
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Significant Historical Settlements:
- In 2019, a customer dispute regarding a failure to execute a stop-loss order resulted in a $120,000 settlement.
- Additional settled disputes include a $21,000 payout in 2019 and a $7,500 resolution in 1999, both involving allegations of unsuitability and breach of fiduciary duty.
- Alleged Losses and Excessive Costs: According to FINRA, the market-timing strategy recommended by individuals at the firm, including Mr. Reid, allegedly generated customer costs (mainly commissions) of around $500,000, with clients reportedly sustaining $1.1 million in realized losses.
The pending FINRA case FINRA v. Reid & Rudiger LLC, Edward Rudiger, Jr., Clifford R. Reid, Kelli A. Mezzatesta, and Marc Harrison (Disciplinary Proceeding 2019060647601) focuses on whether clients were subjected to excessive trading and unsuitable investment strategies, all to maximize compensation for the firm at the expense of its customers.
Understanding Churning and Unsuitable Recommendations
For investors, it is essential to recognize behaviors that may signal account mismanagement, such as churning (excessive trading to increase commissions) and unsuitable recommendations (suggesting investments that do not align with your financial goals and risk tolerance). The main red flags in the recent matters associated with Mr. Reid are:
- Excessive trading activity inconsistent with your personal investment strategy
- Persistent high commissions in relation to the value of your account
- Frequent recommendations to buy or sell stocks using margin (borrowed funds)
- Failure to execute stop-loss orders or take necessary protective measures as requested
- Lack of adequate supervision and breach of fiduciary duty
What Do FINRA Rules Require?
- FINRA Rule 2111 (Suitability): Advisors must ensure their recommendations match the client’s objectives, needs, and risk tolerance.
- FINRA Rule 2010 (Commercial Honor): Brokers must observe high standards of fair and ethical business practices.
- FINRA Rules 3110 & 2090: Firms are required to supervise their financial advisors diligently to prevent misconduct.
Haselkorn & Thibaut is assessing whether these obligations were met in light of the claims and patterns identified in the current disclosures and customer complaints.
A Complete List of Complaints and Disputes Involving Clifford Reid
| Date | Type | Allegation | Outcome | Amount |
|---|---|---|---|---|
| 2026 (Pending) | Customer Dispute | Excessive trading, excessive commissions | Ongoing | Unspecified |
| 2023 (Pending) | Customer Complaint | Unsuitability, excessive trading, failure to supervise | Ongoing | Unspecified |
| 2019 | Customer Settlement | Failure to execute stop-loss order, unsuitability | Settled | $120,000 |
| 2019 | Customer Settlement | Unsuitability, breach of fiduciary duty | Settled | $21,000 |
| 1999 | Customer Settlement | Unsuitability, breach of fiduciary duty | Settled | $7,500 |
View the FINRA BrokerCheck report for Clifford Ronald Reid for the latest public data available.
Should You Be Concerned? Your Next Steps as an Investor
If you have worked with Clifford Ronald Reid and are concerned your account has experienced unusual trading activity, excessive commissions, or unexplained losses, it is in your best interest to seek a professional review. Often, investors are unsure whether their experience qualifies as possible misconduct, but the mere presence of excessive trading or unsuitable recommendations could warrant further investigation.
Haselkorn & Thibaut’s investigation is designed to empower investors with facts and options. Our attorneys will carefully review your account statements, correspondence, and transaction history to assess whether your rights may have been violated. Remember, our evaluation is completely free and confidential.
