Category Archives: J.D. Nicholas & Associates

Worden Capital Brokers Gregory Dean and Donald Fowler Named in SEC Complaint

January 2017-Syosset, NY

The U.S. Securities and Exchange Commission filed a complaint against two former J.D. Nicholas brokers alleging that they failed to perform adequate due diligence relating to the risks and rewards of frequent trading strategy in 27 customer accounts which earned over $800,000 in commissions. SEC v. Gregory T. Dean and Donald J. Fowler, Case 1:17-cv-00139. 

According to the Complaint, both Dean and Fowler have disciplinary histories. Nine of Dean’s customers filed FINRA arbitrations or complaints against him. Ten of Fowler’s customers filed arbitrations or complaints against him.

J.D. Nicholas (formerly A&F Financial Services) was incorporated in Florida in 1997 and maintained its offices in Syosset, NY.

Dean and Fowler are currently registered with Worden Capital Management. 

If you have questions about your account and the way it has been handled, call to discuss your options with an experienced securities attorney.

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.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Joseph O. Clemente, Jr. -Former J.D. Nicholas Broker-Discloses Customer Complaints

July 2016-Garden City, New York

The FINRA records of Joseph O. Clemente, Jr. ,  a  currently unlicensed stock broker who was last employed  by Worden Capital Management , disclose a pending customer dispute and a  prior finalized customer dispute, one of which alleges account churning.

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 FINRA Case# 13-01317 a customer of J.D. Nicholas & Assoc. alleged damages of $37,737  for losses related to the purchase of Celsion Corporation in January 2013. The case was settled for $7,500.

In  pending FINRA Case 14-03697 brought by a customer of J.D. Nicholas & Assoc. the customer alleges damages of $57,130 for churning, negligence, unsuitability, overconcentration and failure to supervise.

Joseph O. Clemente, Jr.  was employed by Worden Capital Managment from  11/2014-12/2015. Prior to that he was employed by J.D. Nicholas & Associates from 12/2011-11/2014.

If you have losses in an account handled by Joseph O. Clemente, Jr.   call to learn how you may be entitled to collect damages 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.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Joseph F. Valdini-Former Worden Capital Management Broker-Discloses Customer Settlements and Termination

July 2016-Melville, New York

The FINRA records of Joseph F. Valdini ,  a stock broker who is currently employed by Aegis Capital Corp. , disclose 2 prior finalized customer disputes and a recent termination from employment.

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.

The prior finalized customer disputes include:

  • FINRA Case 16-0216 in which a customer of Valdini while he was employed by Worden Capital Management alleged damages of $125,000 for negligence, violation of New Jersey Uniform Securities Act, breach of fiduciary duty and other claims. That case was settled for $79,000.
  • In January 2016 a customer of Worden Capital Managment alleged that Valdini made an unauthorized trade in his account on 12/31/2015 resulting in losses of $28,125. The case was settled for $28,125 and Worden Capital Management made the following statement on FINRA records: “Following an internal review of the alleged unauthorized trade, the representative finally admitted that the original trade was not authorized by the client. The firm offered and the  client accepted a settlement in which the trades in question were cancelled and the client made whole.”

On 1/27/2016 Valdini voluntarily resigned from Worden Capital Management who made the following statement on the FINRA record: “The representative submitted a letter of resignation while an internal review was taking place. Had he not submitted his resignation at that time the representative would have been terminated.”

Valdini has been employed by Aegis Capital since 2/2016. He was employed by Worden Capital Managment from 11/2014-1/2016 .Prior to that he was employed by J.D. Nicholas & Associates from 9/2008-11/2014.

If you have losses in an account handled by Joseph F. Valdini call to learn how you may be entitled to collect damages 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.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Donald J. Fowler-Worden Capital Management Broker-Discloses Customer Disputes Alleging Churning & Receipt of Wells Notice

UPDATE August 2016Fowler discloses regulatory investigation. On July 15, 2016, Fowler’s FINRA records disclose that he has received a Wells Notice from the US Securities and Exchange Commission who has made a preliminary decision to bring an action alleging violation of Section 17(a), 10(b) and Rule 10(b) 5.

A Wells Notice is a letter that the U.S. Securities & Exchange Commission (SEC) sends to people or firms when it is planning to bring an enforcement actions against them. The notice indicates that the SEC staff has determined it may bring a civil action against a person or firm, and provides the person or firm the opportunity to provide information as to why the enforcement action should not be brought.

July 2016-Rockville Ctre. , New York

The FINRA records of Donald J. Fowler ,  a stock broker who is currently employed by Worden Capital Management, disclose 9 prior finalized customer disputes and 2 pending customer disputes.

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.

The prior finalized customer disputes include:

  • A complaint brought in 1/2015 in which a customer of J.D. Nicholas & Associates alleged damages of $150,000 for unsuitable trading in highly speculative and risky investments that were wholly unsuitable to his investment objectives and risk tolerance. That case was settled for $50,000.
  • FINRA Case 14-03697 in which a customer of J.D. Nicholas & Associates alleged damages of $344,948 for churning, negligence, unsuitability, overconcentration and failure to supervise. That case was settled for $350,000.
  • A complaint brought in 8/2011 in which a customer of A&F Financial Services (now known as J.D. Nicholas & Associates) alleged damages of $487,285 for unsuitability and improper use of margin. The case was settled for $178,500.

The pending customer cases include:

  • FINRA Case 16-1503 in which a customer of Worden Capital Management alleges damages of $812,000 for churning, excessive trading, failure to supervise fraud, breach of fiduciary duty and violation of the securities laws.

Donald J. Fowler has been employed by Worden Capital Managment since 11/2014..Prior to that he was employed by J.D. Nicholas & Associates from 1/2007-11/2014.

If you have losses in an account handled by Donald J. Fowler call to learn how you may be entitled to collect damages 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.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Gregory T. Dean-Worden Capital Management Broker-Discloses Customer Complaints Alleging Churning

UPDATE MARCH 2017Gregory Dean discloses recently filed FINRA arbitration 16-02775 in which a customer of Worden Capital Management alleges damages of $420,847 for unsuitable recommendations, unauthorized trading, failure to supervise and concentration abuses.

July 2016-Rockville Ctre. , New York

The FINRA records of Gregory T. Dean ,  a stock broker who is currently employed by Worden Capital Management, disclose  a prior regulatory event,  4 prior finalized customer disputes and 3 pending customer disputes.

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 February 2013, while  employed by J.D. Nicholas (formerly A&F Financial Securities) Gregory T. Dean was fined $10,000 by the Arkansas Securities Department for calling Arkansas residents in violation of the Arkansas Securities Act. Case S-12-00189-13-OR01. 

The prior finalized customer disputes include:

  • FINRA Case 15-0039 in which a customer of J.D. Nicholas & Associates alleged damages of $500,000 for unsuitable trading, excessive turnover, churning and failure to supervise. That case was settled for $200,000.’
  • FINRA Case 14-03697 in which a customer of J.D. Nicholas & Associates alleged damages of $418,163 for churning, negligence, unsuitability, overconcentration and failure to supervise. That case was settled for $350,000.

The pending customer cases include:

  • FINRA Case 16-1506 in which a customer of Worden Capital Management alleges damages of $133,434 for churning, excessive trading, unsuitability, failure to supervise and violation of state blue sky laws.

Gregory T. Dean has been employed by Worden Capital Managment since 11/2014.. Prior to that he was employed by J.D. Nicholas & Associates from 1/2007-11/2014.

If you have losses in an account handled by Gregory T. Dean call to learn how you may be entitled to collect damages 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.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Matthew DiGregorio-Former J.D. Nicholas Broker-Permanently Barred from Securities Industry-Melville, NY

Melville, NY

UPDATE JULY 2017-In 11/2016 Matthew DiGregorio was permanently barred from the securities industry by FINRA for failing to pay an award as ordered by a FINRA arbitration panel to heis for partners at a FINRA member firm. The FINRA panel also found that DiGregorio made false representations to the panel regarding his child’s accident to procure continuances of the hearing sessions.

ORIGINAL POST-July 2016

The FINRA records of Matthew DiGregorio  , a stock broker who formerly worked for Aegis Capital and J.D. Nicholas & Associates , disclose  a currently pending regulatory matter, a prior final regulatory event, 5 prior final customer disputes  and 3 outstanding judgement/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 a currently pending FINRA Case # 2015045909501, FINRA alleges that DiGregorio failed to pay an award as ordered by a FINRA arbitration panel to his former partners at a FINRA member firm and during the investigation told FINRA he does not intend to honor the award. The complaint alleges that DiGregorio refused to produce any documents responsive to the arbitration panel’s orders, specifically in relation to his claims that his child was involved in an accident that resulted in an adjournment or the panel hearings.

In prior regulatory matter 13-0570 DiGregorio was suspended in 8/2015 for failure to comply with an arbitration award or settlement agreement or to satisfactorily respond to a FINRA request to provide information.

DIgregorio discloses the following judgements:

  • a judgement in favor of Volvo Car in the amount of $3,858.74
  • a judgement related to the dispute with his former partners in the amount of $3,452.93
  • a judgment in favor of Stacey DiGregario in the amount of $11,617.57

DiGregorio  was employed by Aegis Capital from 6/2015-8/2015, with J.D. Nicholas & Assoc. from 1/2013-7/2015 and before that with Legend Securities from 6/2012-1/2013. He was with Chelsea Financial Services from 9/2010-7/2012.

If you have losses in an account handled by Matthew DiGregorio , contact us to discuss your options.

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.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870