March 2017 FINRA sanctioned Newbridge Securities after allegations it failed to report 9,398 reportable order events to the order audit trail system on 147 separate business days, and additionally that the firm transmitted 1,017 reports with inaccurate, incomplete, or improperly formatted information. Bedminster Financial Group, Limited, Midtown Partners & Co., LLC, VFinance Newbridge Securities Corp. ("Newbridge" or "Respondent"), pursuant to Rule 240(a) of . | All rights reserved Site Map | Disclaimer | Privacy Policy Website by Gladiator Law Marketing, Duane Pellman (CRD#: 2426979) is a previously registered Broker and previously registered Investment Advisor. Brokerage Firm Regulated by FINRA (Florida district office) MAIN ADDRESS. There have been several cases of registered representatives employed by Newbridge who were involved in broker misconduct and fraudulent activities. A group of control persons and promoters reportedly used accounts at the firm to execute pre-arranged in-house agency cross and wash transactions that were intended to generate volume and support or increase the price of the stock. One aspect of this obligation is that brokers must ensure that customers always get the best available price. In this article you will find a running list of links to news stories about Newbridge Securities customer complaints and regulatory actions. 0. While "only 2.6 percent of the brokers at firms with more than 200 brokers have customer complaints, Aegis Capital (24.49 percent) and Newbridge Securities Corp. (24.27 percent) employ bad . Founded in 2000 and headquartered in Boca Raton, Florida, Newbridge Securities is a full-service brokerage firm. June 2016 - FINRA censured and fined the firm $115,000 after allegations that it failed to apply sales charge discounts to certain investors eligible investments in unit investment trust products (UITs). Disclosures can be customer complaints or arbitrations, regulatory actions, employment terminations, bankruptcy . partner with a national law firm, where he represented some of the largest Loading. Newbridge Securities Financial Advisor, Peter Goffin, Has Nine Customer Complaints. In September 2011, Newbridge was fined 3010 and 2110, and FINRA Rule 2010., In total, Newbridge Securities Contact us now for a free consultation! investments that are appropriate for their clients pay $499,000 for FAILING TO REASONABLY SUPERVISE ONE AGENT IN CONNECTION WITH *by appointment only. 1787 Views 0. . Michelle Lujan Grisham has signed emergency legislation to amend New Mexicos new medical malpractice statute in order to prevent a potential loss of insurance coverage for certain healthcareproviders. Financial Industry Regulatory Authority records show that he is a broker based in Fort Lauderdale, Florida, also operating as an insurance agent with Philip Gibson Insurance. You can fight back and get your money refunded. The complaint alleged that Cocuzzo engaged in a scheme to defraud investors and potential investors by receiving cash kickbacks to recommend and induce customers to purchase ForceField stock without disclosing those kickbacks to his customers. Newbridge Financial, Inc. And Wholly Owned Subsidiary, Newbridge Securities Corporation, Celebrate Their 20th Anniversary
Registered broker-dealers are legally responsible for the actions of their investment advisors. In all, over thirty regulatory cases have been filed against the firm. 0. Can an SEC Lawyer Help Me Recover Investment Losses? FINRA Censures and Fines Newbridge Securities Corp. March 2023 Newbridge this week agreed to sanctions involving supervisory failures and sales of a risky alternative mutual fund.
Newbridge was censured and issued a fine of $138,000. Although our offices are in Seattle, Washington and Chicago, Illinois, the firm reviews securities fraud cases throughout the country. During an extreme volatility event, LJMs value dropped 80% in February 2018 causing the fund to liquidate and close, resulting in thousands of dollars in losses for Newbridges customers. Newbridge Securities Corporation financial advisor Philip Gibson (CRD# 2905474) allegedly committed fraud, according to a pending investor complaint against him.
with clients. You may reproduce materials available at this site for your own personal use and for non-commercial distribution. Most recently, on July 18th, 2017, Newbridge Securities was hit with a $499,000 fine by the Pennsylvania Department of Banking and Securities. All broker-dealers have a responsibility to adequately supervise its employees. Newbridge Financial, Inc. And Wholly Owned Subsidiary, Newbridge Financial Services Group, Inc. Shows 214% Growth in Assets Under Management. a copy of the FINRA sanction, click here: Copy of FINRA Sanction. Major findings include: The more heavily a firms customers are concentrated in equity products, the more likely the firms misconduct involves excessive trading in client accounts. The problem is by not disclosing the bigger picture to investors, or allowing anyone in the industry to do the analysis, Finra is protecting not only firms but predators and I think someone ought to call them out on it, a securities analyst who asked to remain anonymous told Financial Advisor magazine. Newbridge Securities Corporation Complaints . A number of investors who bought GWG L Bonds through the brokerage Newbridge Securities are represented by . July 2017 The State of Pennsylvania sanctioned Newbridge Securities after allegations that it failed to reasonably supervise a registered representative in connection with the sales of structured products in the state. Matt Peter Goffin is a Financial Advisor at Newbridge Securities Corporation in Boca Raton, FL. The Wolper Law Firm Without admitting to or denying the allegations, Newbridge Securities consented to sanctions, including a $600,000 fine. Questions? Member FINRA/SIPC, Steven Perlstein Joins Newbridge Financial, Inc. as its Vice President of Business Development for Digital Products and Services, Newbridge Securities Corporation Hires Sonni Johnson to Head its Business Development/National Recruiting Initiatives, NFSG Promotes Jennifer Dorfman as CCO of its RIA, Newbridge Securities Corporation Hires Peter Czarnomski to Head Customer Service Group, Newbridge Securities Corporation Recruits Chad Champion, Managing Director, Head of Equity Capital Markets, B. Riley Financial Announces Offering of $100 Million Senior Notes Due 2028 and "BBB+" Rating from Egan-Jones. Bruce H. Jordan (CRD # They talked a big game and claimed to trade $4.8 billion on behalf of 100,000 investors and promised gains of 1 percent a day. Your email address will not be published. complaints/lawsuits against Newbridge are the result of GWG Holdings L Bonds, GWG Holdings, Inc. submits a bankruptcy petition, Newbridge Securities appears to be a haven for rogue brokers. Our review of Vito Glazers is based on his attempt to hide critical reviews and information from the internet by intentionally forging a court order, impersonating a judge, doctoring his signature, and submitting a fake court order to Google. Therefore, Newbridge Securities Corporation may be liable for investment or other losses suffered by Jeffrey Eglow's customers. Newbridge Securities. The firm reportedly failed to adequately supervise the registered representatives who participated in the sales of unregistered securities, according to FINRA. We have over 50 years of experience and a 95% success rate. 165 Broadway
1200 NORTH FEDERAL HIGHWAY SUITE 400 . The issue pertained to the sale of structured products. In 2017, Newbridge was ordered to -, 11-04-2019 - Newbridge Securities Corporation Recruits New York City Based Asset Management Group and Winter Park, Florida Group Advising in Excess of $400 Million in Client Assets, 10-12-2019 - Newbridge Securities Corporation Enters into 5-Year Clearing Agreement with Axos Clearing LLC, 2023 Newbridge Securities All Rights Reserved. GWG Holdings, Inc. voluntarily filed for Chapter 11 bankruptcy earlier this year in the U.S. Bankruptcy Court for the Southern District of Texas.
When brokers violate securities laws, such as making unsuitable investments, the brokerage firm they are working with may be liable for investment losses through.
The recent complaints/lawsuits against Newbridge are the result of GWG Holdings L Bonds, GPB Capital, and other non-traded investments. Newbridge Securities Corporation Announces New Global Headquarters
private offerings sold to its customers, and failed to conduct adequate due Instead, the regulator has created a special exam unit targeting high-risk brokers, said Susan Axelrod, Finras executive vice president for regulatory operations at the National Society of Compliance Professionals Conference in Washington, D.C., last week. 2015 by The White Law Group, LLC All rights reserved. Thomas L. Bojadzijev ("Bojadzijev"), 29, resides in Orlando, Florida, and is Don't give up. The complaint alleged that Cocuzzo engaged in a scheme to defraud investors and potential investors by receiving cash kickbacks to recommend and induce customers to purchase ForceField stock without disclosing those kickbacks to his customers. This rating has been stable over the past 12 months. The firm was ordered to pay a fine of $499,000. When brokers violate securities laws, such as making unsuitable investments, the brokerage firm they are working with may be liable for investment losses through FINRA Arbitration. Life insurance and alternative investments are among the services provided by GWG Holdings, a financial services company with its headquarters in Dallas. But regardless of whether an arbitration award was entered, a settlement occurred, or the customer complaint is still pending, the allegations made by customers are red flags which should put all current and former customers of Dean Nowak at Newbridge Securities Corp. and Taylor Capital Management on alert to review carefully the activity and . The firm was censured and fined $17,500. Yet, unfortunately, Newbridge Securities has not always lived up to this duty. Here, our experienced securities fraud attorneys highlight some notable allegations of misconduct that have been brought against this firm. No filing fees. 0. Unauthorized trading is a serious violation of an investors trust and can lead to major financial losses. Fined $138K by FINRA. Newbridge allegedly allowed the sale of LJM on its platform without conducting reasonable due diligence and without a sufficient understanding of its risks and features, including the fact that the fund pursued a risky strategy that relied on purchasing uncovered options. FINRA sanctioned Newbridge Securities after allegations it failed to report 9,398 reportable order events to the order audit trail system on 147 separate business days, and additionally that the firm transmitted 1,017 reports with inaccurate, incomplete, or improperly formatted information. Newbridge Securities Corp. Regulatory Actions. The broker is offering you to fund more money into the account after you lost a large sum. The truth is that investors who lost money in this fashion may actually be entitled to damages. According to the Financial Industry Regulatory Authority, James Williams holds 34 years of securities industry experience. How to Sue a Financial Advisor or Stockbroker Over Investment Losses, How to File a Complaint Against Your Financial Advisor or Stockbroker, Security Exchange Commission Complaint: How to Report Your Brokerage Firm or Advisor to the SEC. Censured and fined $17,500 by FINRA. This was, allegedly, for the purpose of manipulating trading in a stock that resulted from a reverse merger. investment losses. is_redirect && ! In his career, Michael Greenfield has been the subject of 8 customer complaints that we know about, 3 of those complaints were filed in the last year to recover investment losses. (CRD # 104065) has been a FINRA member since 2000 and is headquartered in Boca $20,000 after it consented to findings that it negligently permitted its $5,000 for the following alleged violations resulting from a FINRA examination: For In December of 2014, FINRA fined Newbridge Securities $138,000 and ordered the brokerage to pay affected customers full restitution. Financial Industry Regulatory Authority records show that he is a broker with Newbridge Securities Corporation, doing business as Orion Wealth Management. losing money due to securities broker fraud, https://www.brokeraudit.com/thomas-john-avery-newbridge-securities-corporation/, $40 million awarded to Delco child with a spinal injury in a medical malpractice suit, The 6-year-old daughter of a Pennsylvania state representative has been awarded more than $40 million in compensation for a birth-related spinal cord injury. September 2019 The Financial Industry Regulatory Authority Inc. reportedly censured Newbridge Securities and fined the firm $225,000 for having failed to adequately supervise the sale of complex securities such as structured notes and leveraged, inverse and inverse-leveraged exchange-traded funds. For a copy of Newbridge Securities The State of Pennsylvania sanctioned Newbridge Securities after allegations that it failed to reasonably supervise a registered representative in connection with the sales of structured products in the state. . Update 2022.11.15If you have suffered investment losses that may have been caused by Thomas John Averys negligence or fraud, contact a FINRA lawyer today. This refers to anything that is regularly traded. By virtue of the foregoing, Newbridge violated FINRA Rule 3110 and. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Newbridge Securities Corporation Hires Peter Czarnomski to Head Customer Service Group
This was for their failure to buy or sell corporate bonds at a fair price. August 2019 The White Law Group filed a FINRA lawsuit against Newbridge on behalf of a Glendale, Arizona resident, requesting damages for alleged violation of common law fraud, breach of fiduciary duty, negligence, and negligent supervision. FINRA censured and fined Newbridge $600,000 after allegations that it facilitated the manipulative trading of the stock of a company created as the result of a reverse merger. The case pertained to the sale of complex securities, involving structured notes and inverse-leveraged and leveraged exchange-traded funds (ETFs). Churning, failure to supervise, omissions, and misrepresentations can be possible grounds for filing a FINRA arbitration claim against the firm for recovery of losses. They must ensure the necessary procedures and systems to detect misconduct. The views and opinions expressed in these articles are those of the source BROKERAUDIT.COM and do not necessarily reflect the official position of AriesLawFirm.com, which shall not be held liable for any inaccuracies presented. Total. contingency fee basis. Newbridge Financial, Inc. And Wholly Owned Subsidiary, Newbridge Financial Services Group, Inc. Shows 214% Growth in Assets Under Management. Without admitting or denying any wrongdoing in this case, the company consented to the sanctions and agreed to pay the penalty. For more information about The White Law Group call our Chicago office at 312-238-9650 or visit us on the web at http://www.whitesecuritieslaw.com. To send us an e-mail, simply complete and submit the online form below. As a result of the misconduct, direct financial harm was done to the firms clients. -, Wednesday February 26, 2020 8:00 AM EST
Former LPL Financial Advisor Bradley Gardner Barred by FINRA. File A Claim To Recover Your Investment Losses At Newbridge Securities Due To Gerald Cocuzzo. The bonds are intended to assist in financing the purchase of the policies, but they come with a high level of risk for the investors. GABRIEL MARTIN ANTUNA at NEWBRIDGE SECURITIES CORPORATION - View Complaints, Disclosures, Scams and Audit Report (Updated 2023) April 8, 2023. Buckhead Tower, Suite 400 These are brokers who have a history of violations. SALES OF STRUCTURED PRODUCTS IN PENNSYLVANIA, In 2016, Newbridge was fined $25,000 for
Shares. Davis has been the subject of eight customer complaints between 1997 and 2018, one of which . Arbitration panels have wiped these cases off brokers CRDs and BrokerCheck reports because they found that these firms not the broker were solely responsible, yet they vanish from the public record.. Steven Perlstein Joins Newbridge Financial, Inc. as its Vice President of Business Development for Digital Products and Services
The Financial Industry Regulatory Authority Inc. reportedly censured Newbridge Securities and fined the firm $225,000 for having failed to adequately supervise the sale of complex securities such as. December 2014 FINRA sanctioned the firm after allegations that it engaged in corporate bond transactions in which it failed to buy or sell the bonds at a fair price taking into consideration all applicable circumstances. The transactions in question qualified the customers for discounts and sales charge waivers, yet Newbridge Securities failed to properly identify and apply these cost savings. Blog, Current Investigations. March 2023 Newbridge this week agreed to sanctions involving supervisory failures and sales of a risky alternative mutual fund. Please. Due to the firms negligence in handling some transactions, many clients did not receive the best available price on their trades, which was a clear breach of the firms fiduciary duty to its clients. The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm dedicated to helping investors in claims in all 50 states against their financial professional or brokerage firm. The auditor noted Newbridge having made a provision of only $625 million against unresolved claims that added up to over $4.5 million at that time, leaving a huge gap in the event it was called upon to pay out the entire amount. Newbridge Securities Corp.,a mid-sized broker-dealer based in Boca Raton, FL with 35 regulatory event disclosures, has a history of compliance problems, according to an article in Investment News. What we found is the worst brokerage firms over the past 10 years which are still in business remain the worst firms, said Craig McCann, CFA, PhD, and founder of SLCG, said in the firms white paper Rating Brokerage Firms by Their Complaint Histories Rather Than by Their Brokers Histories., The findings of SLCGs exhaustive, first-of-its-kind research are explosive and come from the Financial Industry Regulatory Authoritys own BrokerCheck data from 2007-2016, which SLCG has sliced and diced to rank the Worst Brokerage Firms.. Many of our clients have lost a significant portion of their net worth as the result of the negligence of their financial professional. *by appointment only. Newbridge Securities provides complete client services including Investment Banking, Wealth Management and Insurance & Account Protection. Powered by Intelligent Holdings. Wolper, the Managing Principal of the Wolper Law Firm, is a Newbridge Securities Corporation celebrates its Chief Market Strategist Don Selkin
In his career, Lawrence Labine has been the subject of 28 customer complaints that we know about, 2 of those complaints were filed in the last year to recover investment losses. Aegis Capital and Newbridge did not return calls for comment by press time. 0 . There is currently one pending customer complaint filed against Newbridge Securities Corp. for investment losses caused by John Demeo's alleged misconduct. David Fagenson, who was hired by Newbridge after he had been fired by UBS Financial Services for violation of their trading policies, despite being under heightened supervision at the time. Michael R. Greenfield is a Financial Advisor at Newbridge Securities Corporation in Boca Raton, FL. Numerous customer complaints, including those involving three retired Philadelphia police officers and a firefighter, were reportedly filed against Newbridge alleging that their financial advisor. Business Incorporated: A large number of customer complaints at Newbridge Securities Corporation also raises questions about .
Entering text into the input field will update the search result below. Some brokers may offer a wide selection of trading products, whereas others may focus on one area . Brokerage firms that fail to monitor the business activities of their employees may be liable for investment losses due to negligent supervision for the misconduct of their employees. The recent complaints/lawsuits against Newbridge are the result of GWG Holdings L Bonds, GPB Capital, and other non-traded investments. Between October 25, 2016, and February 8, 2018, Newbridge reportedly failed to reasonably supervise representatives recommendations of the LJM Preservation & Growth Fund. This copy is for your personal, non-commercial use only. "-Sonn Law Group Client. A few recent examples: FINRA fined Newbridge $600K for their failure to supervise representatives who facilitated the sale of unregistered securities. December 2014 FINRA sanctioned the firm after allegations that it engaged in corporate bond transactions in which it failed to buy or sell the bonds at a fair price taking into consideration all applicable circumstances. Newbridge Securities Corporation Recruits New York City Based Asset Management Group and Winter Park, Florida Group Advising in Excess of $400 Million in Client Assets
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B. Riley Financial Announces Offering of $100 Million Senior Notes Due 2028 and "BBB+" Rating from Egan-Jones. -, Friday November 11, 2022 2:00 PM EST
Written by The White Law Group March 28, 2023 Northstar Financial Services (Bermuda), Ltd. https://brokercheck.finra.org/firm/summary/104065#disclosuresSection, https://brokercheck.finra.org/individual/summary/1223556, Newbridge Securities Financial Advisor, Peter Goffin, Has Nine Customer Complaints, Newbridge Securities Corporation Financial Advisor, Michael Greenfield, Has Six Customer Complaints, Newbridge Securities Broker, David Fagenson, Has Twelve Customer Complaints Reported On His Disclosure Report, Newbridge Financial Advisor, Dana Davis, Has Eight Customer Complaints, Including Two Pending Complaints, Wolper Law Firm Is Investigating Claims Against Financial Advisor, Xavier Patino, Newbridge Securities Corp. Financial Advisor, Dana Davis, Has 7 Customer Complaints, Including One Pending Complaint Alleging Fraud And Breach Of Fiduciary Duty, Can I Sue Newbridge Securities Corporation Or Salomon Whitney Financial To Recover Investment Losses Caused By Dennis Hayes, Financial Adviser Duane Pellman was Permitted to Resign from Excel Wealth Management, Financial Advisor Miche Jean Disclosed Two Month Suspension by FINRA.
If you have questions about Newbridge Securities, IAA Financial, and/or Gerald Cocuzzo and the management or performance of your accounts, please contact Attorney Pearce for a free initial consultation via email or Toll Free at 1-800-732-2889. They permitted these purportedly non-compliant transactions of unregistered stocks being sold by a few individuals through their accounts. 0. $115,000 for allegedly failing to IDENTIFY AND APPLY SALES CHARGE DISCOUNTS TO If you have an ad-blocker enabled you may be blocked from proceeding. $25,000 after it consented to findings that it failed to establish, maintain, If Finra unshackled BrokerCheck, researchers would come up with innovative ways to reach and inform unsophisticated investors about high-risk brokers and brokerage rms, McCann said in the firms white paper. Brokerage firms have a legal responsibility to always look out for the best interests of their clients. Many investors (presumably, . Many investors (presumably, like yourself) are unaware of the legal recourse available to them after losing money due to securities broker fraud and/or negligence. 9. For example, in 2014, Daniel Pikula (CRD#: 2563165), a Newbridge Securities broker based in an office in West Palm Beach, Florida, was suspended and fined for engaging in unauthorized trading. Substantial doubt and ongoing concern was expressed by Liggett & Webb, the firm that audited its accounts, about its ability to stay in business. We want to hear it. Your email address will not be published.
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