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FINRA further imposed a fine of $5,000 on the firms director of investment banking, and reportedly suspended him for two months for his failure to properly supervise the sale of complex securities. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. 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. Without admitting or denying any wrongdoing in this case, the company consented to the sanctions and agreed to pay the penalty. -, Thursday July 23, 2020 11:00 AM EST Newbridge Securities Corporation in Financial Trouble Life insurance and alternative investments are among the services provided by GWG Holdings, a financial services company with its headquarters in Dallas. 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. Newbridge Securities Financial Advisor, Peter Goffin, Has Nine Customer Complaints. From our primary office in South Florida, we protect investors nationwide. Disclosures can be customer complaints or arbitrations, regulatory actions, employment terminations, bankruptcy . In 2017, Newbridge was ordered to Newbridge Securities Corporation - Better Business Bureau While the industry itself may concur with the secrecy, consumer groups and some securities experts do not. Newbridge Securities Corporation Broker Misconduct. 10-12-2019 - Newbridge Securities Corporation Enters into 5-Year Clearing Agreement with Axos Clearing LLC. 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. Do you have a complaint about Newbridge Securities? Peter Goffin has been in the securities industry since 1987 and previously worked at Wachovia Securities Financial Network, JW Charles Securities and Commvest Securities. The bonds were sold with varied maturity terms ranging from 2 years to 7 years, with interest rates ranging from 5.50 percent to 8.50 percent, according to a prospectus released by GWG for the issuance of $2 billion in L Bonds. 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. Specifically, these allegations stemmed from the firms sale of Unit Trust Investments (UTIs) to certain clients. For more information on The White Law Group, visit. The broker is offering you to fund more money into the account after you lost a large sum. Beginning 2017, FINRA announced the prioritization of action to keep track of recidivist/ high-risk brokers. In our broker reviews, we discuss trading products, such as stocks, commodities, ETFs, forex, options, CFDs, bonds, indices, and cryptocurrencies. Currently, Finra only makes one broker record at a time available to customers through its BrokerCheck tool (https://brokercheck.finra.org/). $5,000 for the following alleged violations resulting from a FINRA examination: For We have also documented several of the most significant cases involving Newbridge Securities broker misconduct. Save my name, email, and website in this browser for the next time I comment. Newbridge Securities Corporation (CRD#: 104065) is a registered broker-dealer headquartered in Boca Raton, Florida. 1223556) has served as Newbridges Director of Investment Banking since 2015. If you have conducted securities transactions through Newbridge, you would be well advised to ensure that the broker has not engaged in negligence or misconduct, especially if you have incurred losses on the investment. One of John Demeo's 3 customers' complaints was settled in favor of investor. According to publicly available records 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. | 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. 3010 and 2110, and FINRA Rule 2010., In total, Newbridge Securities Founded in 2000 and headquartered in Boca Raton, Florida, Newbridge Securities is a full-service brokerage firm. Newbridge repeortedly failed to review representatives LJM recommendations. Suite 204, Fort Lauderdale, Florida, 33309, United States. Thomas John Avery at NEWBRIDGE SECURITIES CORPORATION - View Complaints 0. However, the announcement of GWGs bankruptcy shows that the principal of L Bond investors is really at risk, and GWG investors are certain to sustain significant losses. Raton, Florida. Investment Losses? Has James Ray Caused You Financial Loss? (Newbridge Securities) Newbridge Securities: History of Complaints Sonn Law Group We have over 50 years of experience and a 95% success rate. The White Law Group is investigating potential securities claims involving Newbridge Securities Corp. (CRD#: 104065, Boca Raton, FL). For a copy of Bruce Jordans CRD, click https://brokercheck.finra.org/individual/summary/1223556. Bruce H. Jordan (CRD # 1223556) has served as Newbridge's Director of Investment . I use this blog to bring attention to regulatory filings involving financial advisors, current events in securities and cases in the financial services industry, and to help investors understand their rights and options for financial recovery. Newbridge Securities Corporation (CRD # 104065) has been a FINRA member since 2000 and is headquartered in Boca Raton, Florida. Blog, Current Investigations. We pride ourselves on providing quality legal services to our clients and handle securities fraud cases throughout the country. represents investors nationwide in securities litigation and arbitration on a 9. 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. pleaded guilty to securities fraud for his role in an alleged $131 million market manipulation scheme. Newbridge Financial, Inc. And Wholly Owned Subsidiary, Newbridge Securities Corporation, Celebrate Their 20th Anniversary At the time of filing Labine reportedly had six regulatory events, two judgement liens, one employment separation, and 23 customer complaints on his broker report. No lawyers. To the extent any of these contingency fee basis. View complaint history and get your dispute resolved quickly. 1787 Views 0. . New York City NY, 10006 Newbridge Securities Customer Complaints & Regulatory Actions In September 2011, Newbridge was fined 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. Thomas L. Bojadzijev ("Bojadzijev"), 29, resides in Orlando, Florida, and is The firm has 31 regulatory events and 4 arbitrations on its record, according to, Broker Misconduct and Customer Complaints. August 2010 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. PDF Newbridge Securities Corp., Guy S. Amico, Scott H. Goldstein, Eric M You should consult an attorney for individual advice regarding your own situation. Newbridge Financial, Inc. And Wholly Owned Subsidiary, Newbridge Financial Services Group, Inc. Shows 214% Growth in Assets Under Management. Many unregulated brokers have been found to scam traders. According to the Financial Industry Regulatory Authority, James Williams holds 34 years of securities industry experience. *by appointment only. 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. Cocuzzo is no longer with Newbridge. Newbridge Securities Corporation Hires Sonni Johnson to Head its Business Development/National Recruiting Initiatives One aspect of this obligation is that brokers must ensure that customers always get the best available price. Customers have alleged that the true risks of the bonds were not represented and not suitable. August 2010 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. Post comment 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. Our firm represents investors in all types of securities related claims, including claims involving stock fraud, broker misrepresentation. According to FINRA, the firm failed to get investors a fair market price on certain trades. 0. Newbridge engages in a general No recommendation or advice is being given as to whether any investment is suitable for a particular investor. The firm was ordered to pay a fine of $499,000. 0 . However, most of our clients were not aware their broker was problematic before they had already signed up. A number of investors who bought GWG L Bonds through the brokerage Newbridge Securities are represented by Haselkorn & Thibaut. Newbridge Securities Corporation (CRD#: 104065) is a registered broker-dealer headquartered in Boca Raton, Florida. If you have traded with Newbridge Securities Corporation and believe you have been scammed by them you have a chance to get your money back. 1200 N Federal Hwy #400, Boca Raton, FL 33432. The worst firms appear to adhere to a high-risk business model, resulting in high continuing investor harm. November 2016 Former Newbridge Securities broker Gerald Cocuzzo pleaded guilty to securities fraud for his role in an alleged $131 million market manipulation scheme. The firm currently holds 52 licenses for U.S. States and Territories with over 80 office locations doing $17.5 million in revenue. 0. Newbridge Securities provides complete client services including Investment Banking, Wealth Management and Insurance & Account Protection. No filing fees. 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 worst firms in the industry have concentrated their customers accounts in a tiny sliver of available investments. There is currently one pending customer complaint filed against Newbridge Securities Corp. for investment losses caused by John Demeo's alleged misconduct. The settlements, fines and arbitration awards put together have already cost Newbridge several million dollars. Matt Since GWG has been the subject of more and more bad news, L Bond investors have been unsure about their investments. 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. 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. memoranda that contained material omissions of facts in violation of FINRA Rule 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. 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. The worst of these firms are truly extraordinary, McCann said. investments that are appropriate for their clients Financial advisor Peter Goffin customer complaints - Wolper 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. These are brokers who have a history of violations. The firm allegedly permitted control persons to sell unregistered securities through firm accounts, and the sales were not made in compliance with any applicable exemption from registration. 0. You may suffer significant losses at the hands of your financial advisors misconduct, such as if they misrepresented or failed to disclose the risks associated with a particular investment, recommended frequent trades for the sole purpose of generating commissions, or used high-pressure tactics to make a sale. Numerous customer complaints, including those involving three retired Philadelphia police officers and a firefighter, were reportedly filed against Newbridge alleging that their financial advisor. Against a revenue of $33 million in 2018, the firm had been able to net a profit of only $108 million. Churning, failure to supervise, omissions, and misrepresentations can be possible grounds for filing a FINRA arbitration claim against the firm for recovery of losses. Newbridge Securities Corporation celebrates its Chief Market Strategist Don Selkin Newbridge was censured and issued a fine of $138,000. Owners of GWG L Bonds, an alternative investment offered to regular investors across the nation by a network of brokerage firms, will find this announcement to be painful news. 1200 NORTH FEDERAL HIGHWAY SUITE 400 . Newbridge engages in a general securities business and employs approximately 175 registered representatives at 41 branch offices. Newbridge Financial, Inc. And Wholly Owned Subsidiary, Newbridge Financial Services Group, Inc. Shows 214% Growth in Assets Under Management. For a free case consultation, you can call at1-888-614-9356 contact us via our online form. Yet, unfortunately, Newbridge Securities has not always lived up to this duty. a copy of the FINRA sanction, click here: Copy of FINRA Sanction. Total. These bonds differ from conventional corporate bonds and other risk-averse investments in that they carry substantial risk. Bruce Jordan has been in the securities industry 35% of employees would recommend working at Newbridge Securities to a friend and 27% have a positive outlook for the business. [Attorney Bio], 1250 S. Pine Island Road, Suite 325 Plantation, FL 33324 Phone: 800.931.8452 / 954.406.1231, 2022 The Wolper Law Firm, P.A. Censured and fined $17,500 by FINRA. partner with a national law firm, where he represented some of the largest We fight to level the playing field between large corporations and the public investor. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); gform.initializeOnLoaded( function() {gformInitSpinner( 1, 'https://8zle54.p3cdn1.secureserver.net/wp-content/plugins/gravityforms/images/spinner.svg', true );jQuery('#gform_ajax_frame_1').on('load',function(){var contents = jQuery(this).contents().find('*').html();var is_postback = contents.indexOf('GF_AJAX_POSTBACK') >= 0;if(!is_postback){return;}var form_content = jQuery(this).contents().find('#gform_wrapper_1');var is_confirmation = jQuery(this).contents().find('#gform_confirmation_wrapper_1').length > 0;var is_redirect = contents.indexOf('gformRedirect(){') >= 0;var is_form = form_content.length > 0 && ! If you have an ad-blocker enabled you may be blocked from proceeding. -, Tuesday May 18, 2021 11:00 AM EST Corporation has 29 regulatory events and four arbitrations disclosed on its Many investors (presumably, . 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 . In March 2019, Newbridge Securities Corporation ("Newbridge") filed its Form X-17A-5, commonly called a firm's Focus Report, with the Securities & Exchange Commission ("SEC"). While we try to keep the information up-to-date and correct, there are no representations or warranties, express or implied, about the completeness, accuracy, reliability, suitability or availability of the information in this article for any purpose. NEWBRIDGE SECURITIES CORPORATION: Street Address: 1200 NORTH FEDERAL HIGHWAY: City: BOCA RATON: State: FL: Area Code: 33432: 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 has 31 regulatory events and 4 arbitrations on its record, according to FINRA, the self-regulator that oversees brokers and brokerage . 100% online. Contact :: Newbridge Securities Thomas John Avery at NEWBRIDGE SECURITIES CORPORATION - View Complaints, Disclosures, Scams and Audit Report (Updated 2023) April 1, 2023. outinthewind; 19 seconds ago; 0. Newbridge Securities Corporation Newbridge Securities Corporation Complaints . allegedly SUBMITT[ING] UNAUTHORIZED PROXY VOTES ON BEHALF OF ITS CLIENTS., Also in 2016, Newbridge was fined NE is_confirmation;var mt = parseInt(jQuery('html').css('margin-top'), 10) + parseInt(jQuery('body').css('margin-top'), 10) + 100;if(is_form){jQuery('#gform_wrapper_1').html(form_content.html());if(form_content.hasClass('gform_validation_error')){jQuery('#gform_wrapper_1').addClass('gform_validation_error');} else {jQuery('#gform_wrapper_1').removeClass('gform_validation_error');}setTimeout( function() { /* delay the scroll by 50 milliseconds to fix a bug in chrome */ }, 50 );if(window['gformInitDatepicker']) {gformInitDatepicker();}if(window['gformInitPriceFields']) {gformInitPriceFields();}var current_page = jQuery('#gform_source_page_number_1').val();gformInitSpinner( 1, 'https://8zle54.p3cdn1.secureserver.net/wp-content/plugins/gravityforms/images/spinner.svg', true );jQuery(document).trigger('gform_page_loaded', [1, current_page]);window['gf_submitting_1'] = false;}else if(!is_redirect){var confirmation_content = jQuery(this).contents().find('.GF_AJAX_POSTBACK').html();if(!confirmation_content){confirmation_content = contents;}setTimeout(function(){jQuery('#gform_wrapper_1').replaceWith(confirmation_content);jQuery(document).trigger('gform_confirmation_loaded', [1]);window['gf_submitting_1'] = false;wp.a11y.speak(jQuery('#gform_confirmation_message_1').text());}, 50);}else{jQuery('#gform_1').append(contents);if(window['gformRedirect']) {gformRedirect();}}jQuery(document).trigger('gform_post_render', [1, current_page]);} );} ); In March of 2019, a Newbridge Securities customer filed a FINRA arbitration complaint, alleging that the broker-dealer: The underlying allegations in this case relate to significant investment losses sustained in non-traded real estate investment trust (REIT) offered by GPB Capital a company that is now being investigated for making material misrepresentations to investors and engaging in improper accounting practices. November 2016 Former Newbridge Securities broker Gerald Cocuzzo pleaded guilty to securities fraud for his role in an alleged $131 million market manipulation scheme. This type of misconduct can damage market integrity and innocent harm investors. 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. Atlanta, GA 30326 It claims that it provides services in over 80 locations countrywide. 1787 Views 0. . 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.

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