August 2016- New York
The FINRA records of Brent Porges, a former stock broker who is currently not licensed disclose a currently pending regulatory matter, a prior regulatory matter, 4 prior customer disputes, a currently pending customer dispute and 6 outstanding liens.
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 currently pending FINRA regulatory matter 2015044823501, Porges is a named respondent in a complaint alleging that, while employed by Craig Scott Capital, he failed to establish and maintain a reasonable supervisory system to prevent excess trading and churning in customer accounts. The complaint alleges that despite numerous ‘red flags, Porges did little to monitor brokers and prevent churning of customer accounts. In addition the complaint alleges that Porges lied, under oath, and in written responses to FINRA requests for information.
FINRA cancelled the license of Craig Scott Capital in January 2016.
In currently pending FINRA Case#15-0600 a customer of Craig Scott Capital alleges damages of $900,000 for breach of contract, negligence and failure to supervise.
Three of the currently outstanding liens disclosed by Porges are in favor of the Internal Revenue Service.
Porges prior employment history includes:
- Meyers Associates 3/2016-8/2016
- Newbridge Securities 11/2015-1/2016
- Newbridge Securities 10/2015-10/2015
- Craig Scott Capital 1/2012-10/2015
If you have losses in an account handled or supervised by Brent Porges you may be able to recover damages from his former employer through FINRA arbitration.
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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