The Securities Litigation & Consulting Group (SLCG) has done what regulators have repeatedly declined to do published the worst ranked brokerage firms in the securities industry. Attach images - Only PNG, JPG, JPEG and GIF are supported. November 2016 Former Newbridge Securities broker Gerald Cocuzzo pleaded guilty to securities fraud for his role in an alleged $131 million market manipulation scheme. There have been several cases of registered representatives employed by Newbridge who were involved in broker misconduct and fraudulent activities. Matt The White Law Group is a national securities arbitration, securities fraud, and investor protection law firm with offices in Chicago, Illinois. John Demeo of Newbridge Securities Corp. - Law Offices of Robert Wayne Please. "We do not believe the Puerto Rico complaints represent an accurate measure of SSLLCs sales or supervisory practices.". Specifically, these allegations involved the buying and selling of corporate bonds. All broker-dealers have a responsibility to adequately supervise its employees. Save my name, email, and website in this browser for the next time I comment. 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. It also incorrectly reported more than 9,300 auditable events over 147 different business days. Wolper, the Managing Principal of the Wolper Law Firm, is a Without admitting or denying any wrongdoing in this case, the company consented to the sanctions and agreed to pay the penalty. Newbridge Securities has over 80 locations in the US, ready to serve your financial needs, Newbridge Securities part of the Newbridge Financial Services family, Become an independent or corporate representative, Tuesday April 18, 2023 8:00 AM EST 0 . Gerald Cocuzzo formerly with Newbridge Securities - Law Offices of Mr. Wolper has handled hundreds of securities matters nationwide before the Financial Industry Regulatory Authority (FINRA), American Arbitration Association (AAA), JAMS, and in state and federal court. Written by The White Law Group March 28, 2023 NFSG Promotes Jennifer Dorfman as CCO of its RIA Their employing brokerage firm has a legal and regulatory $20,000 after it consented to findings that it negligently permitted its In 2010 the complaint reached a settlement of $850,000. -, Tuesday May 18, 2021 11:00 AM EST New York City NY, 10006 $25,000 after it consented to findings that it failed to establish, maintain, 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. Questions? 2015 by The White Law Group, LLC All rights reserved. Its a significant improvement over the firms previous rankings, but our current measure still misses cases which have been expunged, McCann says. However, most of our clients were not aware their broker was problematic before they had already signed up. The lawsuit alleges medical malpractice and also [], The New Mexico governor signs a medical malpractice bill, Gov. Newbridge Securities: History of Complaints Sonn Law Group 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. The claim alleges former Newbridge financial advisor Lawrence Labine (Larry Labine), unsuitably invested his client in high risk alternative investments. Finra did not respond to a request for comment by deadline. Newbridge Securities Corporation Review - Is it Legit? Scam Check Newbridge Securities Corporation 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. memoranda that contained material omissions of facts in violation of FINRA Rule 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. The research was originally published in The Journal of Investing in June. GWG listed several factors in its filing for bankruptcy protection, including liquidity problems and an SEC probe. Newbridge Securities is currently licensed to operate in all 50 U.S. states as well as in Washington DC, Puerto Rico and the Virgin Islands. The firm was censured and fined $17,500. 2019, FINRA fined Newbridge Securities Corporation $250,000 and Bruce Jordan Fined $499K, this time by the Pennsylvania Department of Banking and Securities, for their failure in supervising a particular broker. 0. 1200 NORTH FEDERAL HIGHWAY SUITE 400 . 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. Cocuzzo is no longer with Newbridge. Financial Advisor Michael R. Greenfield (Newbridge Securities Corp In the period of a year, that would be a return of 250%, which is 25 times higher than the average return of the S&P 500. Newbridge Core Values File A Claim To Recover Your Investment Losses At Newbridge Securities Due To Gerald Cocuzzo. For a copy of Newbridge Securities Newbridge Securities Corporation celebrates its Chief Market Strategist Don Selkin B . 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. . Newbridge Securities Corporation financial advisor Dana Davis (CRD# 1707708) is accused of unsuitable investment recommendations and excessive trading. Investors are now concerned about the condition of these investments and the potential loss of principal after GWG sold L Bonds valued at billions of dollars over the course of several years. Between October 25, 2016, and February 8, 2018, Newbridge reportedly failed to reasonably supervise representatives recommendations of the LJM Preservation & Growth Fund. Newbridge was censured and issued a fine of $138,000. Customers have alleged that the true risks of the bonds were not represented and not suitable. Complaint against Newbridge Securities Corporation? Newbridge Financial, Inc. And Wholly Owned Subsidiary, Newbridge Securities Corporation, Celebrate Their 20th Anniversary Newbridge Securities Corporation celebrates its Chief Market Strategist Don Selkin Newbridge Securities Corporation Announces New Global Headquarters, Newbridge Securities Corporation Features on its Platform Don Selkin, the Creator of Fair Value numbers included in the U.S. Futures Report on CNBC for Over 35 Years, as its Chief Market Strategist, 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, Newbridge Securities Corporation Enters into 5-Year Clearing Agreement with Axos Clearing LLC. Blog, Current Investigations. Recently many customers of Newbridge Securities Corp. have filed Financial Industry Regulatory Authority (FINRA) arbitration claims for recovery of investment losses against it and named several of its financial advisors in their claims. 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 . Newbridge Securities Corporation Scam Broker Reviews The information provided within this article is for general informational purposes only. 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. The firm has 31 regulatory events and 4 arbitrations on its record, according to FINRA, the self-regulator that oversees brokers and brokerage . The White Law Group is a national securities fraud, securities arbitration, investor protection and securities regulatory/compliance law firm with offices in Chicago, Illinois and Vero Beach, Florida. After hearing arguments from attorneys representing Utah and abortion providers, state court judge Andrew Stone stated that he would rule on Planned Parenthoods motion to defer the [], Experimenting with radiation to treat irregular heartbeat, ALLY INVEST SECURITIES LLC (CRD#: 136131) :: 11/29/2017 3/18/2019 :: FORT LAUDERDALE, FL, AXA ADVISORS, LLC (CRD#: 6627) :: 8/20/2012 10/30/2017 :: FT. LAUDERDALE, FL, INVESTACORP, INC. (CRD#: 7684) :: 3/30/2006 11/12/2009 :: MIAMI, FL, NATIONAL FINANCIAL SERVICES LLC (CRD#: 13041) :: 7/12/2005 3/8/2006 :: BOSTON, MA, E*TRADE PROFESSIONAL TRADING, LLC (CRD#: 39293) :: 5/25/2004 5/25/2005 :: NEW YORK, NY, CHASE INVESTMENT SERVICES CORP. (CRD#: 25574) :: 1/7/2004 1/13/2004 :: CHICAGO, IL, JEMMINI SECURITIES, LLC (CRD#: 119665) :: 9/23/2003 12/2/2003 :: NEW YORK, NY, AXA ADVISORS, LLC (CRD#: 6627) :: 10/16/1998 11/22/2002 :: NEW YORK, NY, THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES (CRD#: 4039) :: 10/16/1998 1/5/2000 :: NEW YORK, NY, WALL STREET EQUITIES INCORPORATED (CRD#: 18432) :: 10/25/1995 8/25/1998 :: NEW YORK, NY, WALL STREET INVESTOR SERVICES (CRD#: 10012) :: 5/12/1995 7/18/1995 :: NEW YORK, NY, INVESTEX SECURITIES GROUP, INC. (CRD#: 30094) :: 2/6/1995 6/5/1995 :: NEW YORK, NY, NATIONAL DISCOUNT BROKERS (CRD#: 27501) :: 10/3/1994 12/8/1994 :: OMAHA, NE, CHARLES SCHWAB & CO., INC. (CRD#: 5393) :: 3/13/1992 9/30/1994 :: SAN FRANCISCO, CA, WATERHOUSE SECURITIES, INC. (CRD#: 7870) :: 3/14/1989 5/29/1991 :: OMAHA, NE, OMNI MUTUAL, INC. (CRD#: 10243) :: 12/16/1987 4/14/1988, AUSTIN SECURITIES, INC. (CRD#: 17094) :: 9/18/1987 11/16/1987, WALL STREET DISCOUNT CORPORATION (THE) (CRD#: 11069) :: 3/5/1987 9/17/1987, BROOKS WEINGER ROBBINS & LEEDS INC. (CRD#: 14156) :: 9/24/1986 3/12/1987, VENUS INTERNATIONAL GROUP, LTD. (CRD#: 16722) :: 8/13/1986 9/24/1986, BROOKS WEINGER ROBBINS & LEEDS INC. (CRD#: 14156) :: 12/17/1985 5/20/1986. Has James Ray Caused You Financial Loss? (Newbridge Securities) "-Sonn Law Group Client. banks and brokerage firms in the world in securities matters. Contact us now for a free consultation! -, Wednesday February 26, 2020 8:00 AM EST , and unauthorized trading, among many others. Contact me online or call anytime at 844-689-5754, What current and prospective clients should know about complaints and regulatory actions against Newbridge Securities. B. Riley Financial Announces Offering of $100 Million Senior Notes Due 2028 and "BBB+" Rating from Egan-Jones. That being said, if we are showing up at a firm asking for information on a particular registered person and coming on site to interview that person, thats a clue theyre on a high-risk broker list.. The worst firms are more than five times as likely to have customer complaints over illiquid investments (30 percent) as all firms (1.16 percent), despite illiquid securities such as variable and indexed annuities, non-traded REITs, oil and gas products, equipment leasing, direct participation products (DPP) and other private placements.
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