August 2016-Melville, New York
The FINRA records of Nicholas F. Milano , a stock broker who is not currently registered but was last employed by Aegis Capital Corp. , disclose a pending customer dispute and a prior FINRA award in favor of a customer.
The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.
In the pending dispute , a customer of his prior employer, Aegis Capital, alleges damages in excess of $5,000 for failing to follow instructions.
In July 2016, in FINRA Case #15-0376, an arbitration panel found Milano jointly and severally liable for damages of $252,194 to a customer of his former employer Craig Scott Capital. That customer had filed an arbitration seeking damages of$493,521 alleging negligence, unsuitability, churning, unauthorized trading, breach of fiduciary duty, breach of contract and other claims.
Milano was by Aegis Capital from 6/2014-12/2015 . He was with Craig Scott Capital from 2/2012-7/2014. Prior to that he was employed by Brookstone Securities. Brookstone was expelled by FINRA in 10/2012.
Rex Securities Law , with offices in Boca Raton, FL, and Austin, TX, provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.
Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
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