New York, New York – December 6, 2025 – John Dennis Lowry (CRD# 4336146), a registered broker and CEO with Spartan Capital Securities, LLC in New York, New York, has 3 regulatory events and 16 customer disputes on his FINRA BrokerCheck record. The regulatory matters include pending FINRA complaints alleging violations of Regulation Best Interest, failure to disclose conflicts of interest related to private placement offerings, and failure to timely respond to FINRA arbitration document requests. Additionally, Lowry faces 7 pending customer complaints and has been named in multiple settled and awarded arbitration cases involving allegations of failure to supervise, unsuitable investments, and broker misconduct.
BrokerCheck Snapshot
Name: John Dennis Lowry
CRD Number: 4336146
Current Firm: Spartan Capital Securities, LLC
Firm CRD: 146251
Location: 45 Broadway, 19th Floor, New York, NY 10006
Years in Industry: 24 years (since 2001)
Previous Firms: Garden State Securities, Inc.; Fordham Financial Management, Inc.
Registrations: FINRA, Nasdaq Stock Market, 51 U.S. states/territories
Industry Exams Passed: Series 7, Series 24, Series 63, Series 79TO, Series 99TO, SIE
Total Disclosures: 19 (3 Regulatory Events, 16 Customer Disputes)
Customer Complaints and Regulatory Actions
According to FINRA records, John Dennis Lowry has been named in 3 regulatory actions and 16 customer disputes throughout his career. Below is a detailed overview of these disclosure events:
Regulatory Event #1 – On Appeal (FINRA Case 2019061528001)
Date Initiated: October 19, 2021
Regulator: FINRA
Allegations: FINRA alleged that Lowry willfully failed to amend, or to timely amend, his Form U4 to disclose arbitration filings and resolutions. The complaint stated that Lowry was named as a respondent in multiple consumer-initiated arbitrations alleging sales practice violations. Despite being made aware of his disclosure failures, he allegedly failed to amend his Form U4 to disclose almost all of the arbitrations against him.
Resolution: On March 28, 2023, a FINRA Hearing Panel found that Lowry willfully failed to disclose customer arbitrations and imposed a $40,000 fine, a two-year suspension, $17,768.31 in hearing costs, and required him to amend his Form U4. Lowry appealed to the National Adjudicatory Council (NAC), which affirmed the findings but reduced the fine to $20,000 on October 9, 2024. Lowry subsequently appealed to the SEC on November 4, 2024. The sanctions are not in effect pending review.
Broker’s Statement: Lowry disputes the characterization and believes the decision makes multiple errors of fact and law. He states that his conduct was supported by opinions of legal counsel, an interpretation of FINRA Rules and Guidance, and a good faith determination of reporting requirements. The legal proceedings not reported involved cases where he was not involved in the underlying transactions or accounts, was not the supervising individual, and where statements of claim failed to make specific allegations against him.
Regulatory Event #2 – Pending (FINRA Case 2021069218305)
Date Initiated: November 24, 2025
Regulator: FINRA
Allegations: FINRA alleges that Spartan Capital Securities and Lowry willfully violated Regulation Best Interest’s Care Obligation by failing to have a reasonable basis to recommend investments to customers. The complaint states that the firm recommended securities with a total principal value of over $24 million to 191 customers through 16 private placement offerings. The firm allegedly failed to conduct reasonable due diligence on the offerings and generated over $2.4 million in placement fees.
The complaint further alleges that Lowry and others recklessly or negligently disseminated false and misleading information to investors in three unregistered private investment funds (the Atlas Funds). The private placement memoranda allegedly misrepresented that Atlas Funds would not profit from markups charged to customers. In total, the Atlas Funds and its manager, at Lowry’s direction, allegedly charged customers $3.25 million in markups, which directly benefitted Lowry, who owned and controlled those entities.
Additionally, FINRA alleges that the firm violated its Disclosure Obligations under Reg BI by failing to fully and fairly disclose conflicts of interest, and that the firm and its CCO failed to establish a supervisory system reasonably designed to achieve compliance with Reg BI.
Product Type: Private Placements
Current Status: Pending
Regulatory Event #3 – Pending (FINRA Cases 2022075597101 and 2022075597102)
Date Initiated: November 8, 2024
Regulator: FINRA
Allegations: FINRA alleges that while acting as Spartan Capital’s CEO, Lowry failed to timely provide information and documents requested by FINRA pursuant to Rule 8210 until after FINRA issued two follow-up requests and initiated two expedited proceedings to compel compliance. FINRA’s requests sought information about unregistered private funds and the firm’s net capital calculations.
The complaint also alleges that Lowry failed to maintain a reasonable system for the firm’s compliance with Rule 8210 and failed to supervise the Chief Administrative Officer’s (CAO) responses to Rule 8210 requests. After delegating responsibility for responding to some FINRA requests to the CAO, Lowry allegedly did not review his delegations of authority to ensure they were being properly exercised and failed to intervene despite red flags.
Product Type: Unregistered Private Funds
Current Status: Pending
Broker’s Statement: The allegations are wholly without merit and Lowry intends to defend the matter vigorously and expects to prevail at a hearing on the merits.
Customer Dispute #1 – Award (FINRA Case 16-03605)
Date Filed: December 5, 2016
Allegations: Excessive commissions, excessive trading, unsuitability, conversion, fraud (statutory and common law), unauthorized trading, negligence, negligent supervision, breach of fiduciary relationship, control person liability, violation of FINRA rules, respondeat superior, and vicarious liability.
Product Type: Unspecified securities
Damages Sought: $721,070
Award Date: August 24, 2018
Award Amount: $330,425 (including $210,000 + $105,000 in compensatory damages, $15,000 in costs, and $425 in filing fees)
Individual Contribution: $0
Broker’s Statement: There are no specific allegations against Lowry. He was solely named due to his position at the firm with no basis. The unsupported allegations are a specious attempt to recover market losses. Lowry was named in his role as CEO and had no direct supervisory responsibility nor contact with the customer.
Customer Dispute #2 – Award (FINRA Case 15-01911)
Date Filed: July 20, 2015
Allegations: Churning, unsuitability, unauthorized trading, breach of fiduciary duty, breach of contract, and fraud and misrepresentation. Claimant alleged that respondent executed excessive trades in his account that were unsuitable for his investment needs and were executed to generate higher commissions. Claimant further asserted that he did not grant permission to trade on margin in his account.
Product Type: Unspecified securities
Damages Sought: $41,842
Award Date: April 8, 2016
Award Amount: $41,842
Individual Contribution: $0
Broker’s Statement: Lowry was not the broker on the account nor did he ever have direct contact with the client or have supervisory responsibility in any capacity. He was named in the arbitration solely due to his role at Spartan.
Customer Dispute #3 – Settled (FINRA Case 17-02196)
Date Filed: October 23, 2017
Timeframe: December 2008 through August 2017
Allegations: Failure to supervise
Product Type: Equity Listed
Damages Sought: $98,974
Settlement Date: July 11, 2018
Settlement Amount: $37,500
Individual Contribution: $0
Broker’s Statement: Lowry was named solely in his capacity as chief executive officer of the firm. He was not the designated supervisor for the registered representative who serviced the account. Lowry does not have any supervisory responsibility for customer accounts and has never had any contact or communication with the claimant. The claim was settled by the firm in order to avoid costly legal expenses.
Customer Dispute #4 – Settled (FINRA Case 17-02818)
Date Filed: November 28, 2017
Timeframe: August 2016 through October 2017
Allegations: Failure to supervise
Product Type: Equity Listed
Damages Sought: $184,241
Settlement Date: June 15, 2018
Settlement Amount: $60,000
Individual Contribution: $0
Broker’s Statement: Lowry was named solely in his capacity as chief executive officer of the firm. He was not the designated supervisor for the registered representative who serviced the account. Lowry does not have any supervisory responsibility for customer accounts and has never had any contact or communication with the claimant. The claim was settled by the firm in order to avoid costly legal expenses.
Customer Dispute #5 – Settled (AAA Case 18-01753)
Date Filed: May 14, 2019
Allegations: Counter claim filed by a company as a retaliation tactic alleging misrepresentations
Product Type: No Product
Damages Sought: $0
Settlement Date: March 6, 2020
Settlement Amount: $0
Individual Contribution: $0
Broker’s Statement: This claim was filed by the company in retaliation to a claim by Spartan Capital for severely past due fees owed to the firm under an investment banking contract. The claim was settled with the company agreeing to make payments to Spartan due under the original contract. The company and its current CEO later provided an affidavit affirming that the original claims filed by the company were completely false and based on the same, the claims will be expunged.
Customer Dispute #6 – Settled (FINRA Case 15-02871)
Date Filed: December 17, 2015
Allegations: Misrepresentation resulting in losses
Product Type: Equity Listed, Options
Damages Sought: $163,886
Settlement Date: May 2, 2018
Settlement Amount: $35,000
Individual Contribution: $0
Broker’s Statement: The unsupported allegations are a specious attempt to recover losses from a 2012 liquidation by the clearing firm of an unpaid, unsolicited trade initiated by the customer. Lowry was named in an administrative capacity for communicating with the client in an attempt to obtain payment for the sell out transaction and for various other communications confirming to the customers his numerous other unsolicited transactions.
Customer Dispute #7 – Dismissed (FINRA Case 22-02520)
Date Filed: November 14, 2022
Timeframe: November 2019
Allegations: Failure to supervise
Product Type: Private Placement
Damages Sought: $1,000,000
Disposition Date: March 28, 2024
Disposition: Dismissed
Broker’s Statement: On March 28, 2024, the claimant dismissed all claims against Lowry. He was named solely in his capacity as chief executive officer of the firm. Lowry was not the designated supervisor for the registered representative(s) who serviced the account(s). Lowry does not have any supervisory responsibility for customer accounts and has never had any contact or communication with the claimant(s).
Customer Dispute #8 – Closed/No Action (Written Complaint)
Date Filed: June 28, 2013
Allegations: Customer alleges poor recommendations resulting in losses of approximately $17,000
Product Type: Mutual Fund
Damages Sought: $17,289
Status Date: July 15, 2013
Status: Closed/No Action
Broker’s Statement: The firm conducted a thorough review of the customer’s concerns and made a determination that there was no wrongdoing on the representative’s part. The firm determined that the customer was completely aware of and an integral part of the decision-making process in all transactions. It is the firm’s belief that the customer’s unhappiness with his decisions and price performance in the account, rather than any improprieties, prompted the complaint. The customer continues to maintain an account with the firm.
Customer Dispute #9 – Closed/No Action (Written Complaint)
Date Filed: October 21, 2009
Timeframe: August 2008 through June 2009
Allegations: Trading on margin and frequency of trading
Product Type: Equity-OTC
Damages Sought: $300,000
Status Date: November 2, 2009
Status: Closed/No Action
Broker’s Statement: FINRA and the firm investigated the matter and determined that there was no action warranted and the matter was closed.
Pending Customer Disputes (7 Total)
Lowry currently has 7 pending customer complaints filed between November 2022 and November 2025. These cases involve allegations of failure to supervise and misrepresentations related to private placement offerings, with damages sought ranging from unspecified amounts to $375,000. The FINRA case numbers are: 25-02544, 25-02389, 25-01159, 25-00493, 24-01461, and 22-02653, plus AAA case 01-25-0001-7093.
Broker’s Statement (for pending matters): Claimant alleges that Lowry is liable solely in his capacity as CEO of the firm. Claimant does not make any allegations that Lowry had any contact with claimant or any role in the underlying transactions. Lowry was not the relevant registered representative’s supervisor nor does he have any role in the supervision of registered representatives. The claims against Lowry are wholly without merit. Lowry will defend this matter vigorously and expects that he will prevail at a hearing on the merits.
Pattern of Complaints and Risk Factors
John Dennis Lowry’s disclosure record reveals a concerning pattern of regulatory issues and customer complaints. The three regulatory actions involve serious allegations including willful failure to disclose arbitrations on Form U4, violations of Regulation Best Interest related to over $24 million in private placement offerings, alleged false and misleading offering documents, conflicts of interest involving Lowry’s ownership of entities that profited from customer investments, and failure to comply with FINRA document requests.
The 16 customer disputes span his tenure at Spartan Capital Securities and include allegations of failure to supervise, unsuitable investments, excessive trading, unauthorized trading, and breach of fiduciary duty. While Lowry consistently states he was named solely due to his role as CEO without direct customer contact or supervisory responsibility, the volume and nature of the complaints raise concerns about the firm’s supervisory systems and the adequacy of oversight for registered representatives.
The pending FINRA complaints related to Regulation Best Interest and the Atlas Funds are particularly significant, as they allege systematic failures in due diligence, disclosure of conflicts of interest, and supervision of private placement offerings that generated millions in fees. Investors who worked with representatives at Spartan Capital Securities, particularly those who invested in private placements or unregistered funds, should carefully review their accounts and consider whether they received adequate disclosure of risks and conflicts of interest.
Can Investors Recover Losses?
Investors who have suffered losses due to unsuitable investments, failure to supervise, or other forms of securities misconduct may be able to recover their losses through FINRA arbitration. Securities laws and FINRA rules require brokers and brokerage firms to:
- Recommend only suitable investments based on the customer’s financial situation, investment objectives, and risk tolerance
- Provide full and fair disclosure of all material facts, including risks and conflicts of interest
- Maintain adequate supervisory systems to prevent and detect misconduct
- Act in the best interest of retail customers when making investment recommendations (Regulation Best Interest)
- Avoid making false or misleading statements in offering documents
When brokers or firms fail to meet these obligations, investors may have grounds for a claim. Patil Law, P.C. represents investors nationwide in FINRA arbitration proceedings against brokers and brokerage firms. Our securities litigation firm works on a contingency fee basis, which means clients pay no upfront fees and we only collect compensation if we successfully recover funds on your behalf.
About FINRA Arbitration
FINRA (Financial Industry Regulatory Authority) arbitration is the primary forum for resolving disputes between investors and brokerage firms or brokers. Most brokerage account agreements contain mandatory arbitration clauses that require customers to arbitrate claims rather than file lawsuits in court.
The FINRA arbitration process typically takes 12-16 months from filing to hearing. Cases are decided by a panel of arbitrators (usually one or three arbitrators depending on the claim amount) who review evidence, hear testimony, and issue a final award. Awards can include compensatory damages, attorneys’ fees, costs, and interest.
FINRA arbitration offers several advantages over court litigation, including:
- Faster resolution compared to civil litigation
- Lower costs than traditional lawsuits
- Arbitrators with securities industry expertise
- Simplified discovery and procedural rules
- Confidential proceedings (though awards are publicly reported)
However, investors should be aware that FINRA arbitration also has limitations, including limited appeal rights and the binding nature of awards. It is essential to have experienced securities counsel to navigate the process effectively and present the strongest possible case.
Related Brokers and Firms
Investors who have concerns about John Dennis Lowry may also want to research other brokers at Spartan Capital Securities advisors. Patterns of customer complaints across multiple brokers at the same firm may indicate systemic supervisory failures or problematic sales practices.
Additionally, investors who have suffered losses related to private placements, investment fraud, variable annuity fraud, or elder financial abuse should consult with a securities attorney to understand their legal options.
Frequently Asked Questions
Q: What specific allegations have been made against John Dennis Lowry?
A: According to FINRA records, Lowry has been named in regulatory actions alleging willful failure to disclose arbitrations on Form U4, violations of Regulation Best Interest related to private placement offerings, dissemination of false and misleading information to investors regarding markups on private fund investments, failure to disclose conflicts of interest, and failure to timely respond to FINRA document requests. Customer complaints include allegations of failure to supervise, unsuitable investments, excessive trading, unauthorized trading, and breach of fiduciary duty. Lowry consistently maintains he was named solely due to his role as CEO and had no direct customer contact or supervisory responsibility for the accounts in question.
Q: How can I recover my investment losses?
A: Investors who have suffered losses due to broker misconduct may be able to recover their losses through FINRA arbitration. The first step is to consult with a securities attorney who can review your account statements, communications with your broker, and other relevant documents to determine whether you have a viable claim. Securities attorneys typically work on a contingency fee basis, meaning you pay no upfront fees and the attorney only collects compensation if they successfully recover funds on your behalf. Time limits apply to filing claims, so it is important to act promptly.
Q: What is FINRA arbitration and how does it work?
A: FINRA arbitration is a dispute resolution process administered by the Financial Industry Regulatory Authority. Most brokerage account agreements require customers to arbitrate disputes rather than file lawsuits. In arbitration, a neutral arbitrator or panel of arbitrators hears evidence from both sides and issues a binding decision called an award. The process is generally faster and less formal than court litigation, typically taking 12-16 months from filing to hearing. Awards are final and binding with very limited appeal rights. The arbitration process includes filing a statement of claim, discovery (exchange of documents and information), pre-hearing conferences, the arbitration hearing (similar to a trial), and the final award.
Q: What constitutes an unsuitable investment recommendation?
A: Under FINRA rules and securities laws, brokers must have a reasonable basis to believe that a recommended investment is suitable for the customer based on the customer’s investment profile. This includes the customer’s age, financial situation, tax status, investment objectives, investment experience, investment time horizon, liquidity needs, and risk tolerance. An investment recommendation may be considered unsuitable if the broker recommends securities that are too risky for the customer’s profile, fails to adequately diversify the customer’s portfolio, engages in excessive trading (churning), or recommends complex products without ensuring the customer understands the risks. Regulation Best Interest, which went into effect in June 2020, requires broker-dealers to act in the retail customer’s best interest when making recommendations, which includes heightened obligations related to disclosure, care, conflicts of interest, and compliance.
Q: How do I check if my broker has complaints or regulatory issues?
A: You can check your broker’s background for free using FINRA BrokerCheck at www.finra.org/brokercheck. Simply search for the broker by name or CRD number to view their employment history, professional qualifications, and disclosure events including customer complaints, regulatory actions, employment terminations, criminal matters, and financial issues. BrokerCheck also provides information about brokerage firms. While a single complaint does not necessarily indicate wrongdoing (as complaints may be denied or dismissed after investigation), patterns of complaints or serious regulatory actions should be carefully evaluated. You should also review Form ADV for investment advisers, which is available through the SEC’s Investment Adviser Public Disclosure website.
Q: What should I do if I suspect my broker engaged in misconduct?
A: If you suspect your broker engaged in misconduct, you should: (1) Gather and organize all relevant documents including account statements, trade confirmations, correspondence with your broker, marketing materials, and any agreements you signed; (2) Cease communication with the broker about your concerns to avoid inadvertently waiving legal claims; (3) Consult with a securities attorney as soon as possible to evaluate your potential claims and discuss your legal options; (4) Be aware of time limitations—FINRA arbitration claims are generally subject to a six-year eligibility rule, meaning claims must be filed within six years of the occurrence or event giving rise to the claim; and (5) Consider filing a complaint with FINRA and/or the SEC, though these regulatory complaints do not replace the need to pursue your own claims for recovery of losses. Do not delay in seeking legal advice, as evidence may be lost and time limits may expire.
About Patil Law, P.C.
Patil Law, P.C. is a securities litigation firm dedicated to representing investors who have suffered losses due to broker misconduct, unsuitable recommendations, and securities fraud. Founded in 2018 by attorney Chetan Patil, the firm focuses exclusively on FINRA arbitration and investment loss recovery.
With over 15 years of combined experience in securities law, Patil Law has successfully recovered more than $25 million for clients across 1,000+ cases. Attorney Chetan Patil earned his law degree from Case Western Reserve University School of Law. Attorneys Gabriela Dubrocq and Patricia Herrera earned their law degrees from University of Miami. The firm handles cases nationwide involving unauthorized trading, churning, unsuitable investments, breach of fiduciary duty, and failure to supervise.
Patil Law works on a contingency fee basis—clients pay no upfront fees and we only collect compensation if we successfully recover funds on your behalf. Our firm provides personalized attention to each case and aggressive representation to hold brokers and brokerage firms accountable for their misconduct.
Call to Action: Get a Free Case Evaluation
If you have suffered investment losses related to John Dennis Lowry, Spartan Capital Securities, or any other broker or brokerage firm, contact Patil Law, P.C. today for a free, confidential consultation. Our experienced securities attorneys will review your case and explain your legal options.
Call us toll-free at 800-950-6553 or email info@patillaw.com to schedule your free case evaluation. Don’t wait—time limits apply to investment fraud claims.
Disclaimer
This article is for informational purposes only and does not constitute legal advice. The information presented is based on publicly available FINRA BrokerCheck records and should not be construed as an accusation of wrongdoing. All allegations described are accusations only; unless and until proven in arbitration or court, all parties are presumed to follow all applicable rules and regulations. Broker statements and responses are included to provide complete context. Past results do not guarantee future outcomes. If you have suffered investment losses, consult with a qualified securities attorney to discuss your specific situation.
