Red Bank, New Jersey
The Financial Industry Regulatory Authority (FINRA) is the largest independent regulator for all securities firms doing business in the United States. FINRA’s chief role is to protect investors by maintaining the fairness of the U.S. capital markets.
All stockbrokers and broker dealers (brokerage firms) are required to be licensed by and subject to the rules and regulations of FINRA. Each month FINRA publishes disciplinary actions against brokers and broker dealers. Discipline can range from monetary fines and suspensions, or in extreme cases, revocation of licensing and a bar from the securities industry.
See the FINRA website for current and historical disciplinary actions.
Anthony Mediate III (CRD #2449614, Registered Representative, Red Bank, New Jersey-Registered with National Securities Corporation, until 11/2012, Mediate worked for Newbridge Securities Corporation) submitted a Letter of Acceptance, Waiver and Consent in which he was suspended from association with any FINRA member in any capacity for 60 days.
In light of Mediate’s financial status, no monetary sanctions have been imposed. Without admitting or denying the findings, Mediate consented to the described sanction and to the entry of findings that he engaged in excessive trading and exercised discretion without written authorization in his handling of a customer account.
The findings stated that during the 15 months that the customer maintained the IRA account with Mediate at his member firms, the customer incurred a net out-of-pocket loss of approximately $55,000.
The customer paid a total of $37,464.45 in commissions. The turnover ratio for the account was 5.35 and the commission-to-equity ratio was 30 percent. This level of activity was inconsistent with the customer’s stated objectives and financial situation. The findings also stated that Mediate failed to timely disclose an unsatisfied judgment on his Form U4 until two days after he was confronted with the judgment at a FINRA on-the-record interview.
The suspension is in effect from July 15, 2013, through September 12, 2013. (FINRA Case #2009018517201)
If you have questions about investment losses or the way your brokerage account has been handled, please contact us to discuss your legal rights.
Rex Securities Law , located in Boca Raton, FL, 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.
561 391 1900