Updated: December 2023
Clearwater, Florida
Newbridge Securities broker Nicholas M. Giallourakis discloses 4 prior final customer disputes on his FINRA records.
In 10.2023 a customer of Newbridge Securities was paid $14,999 to settle a FINRA arbitration alleging that Giallourakis made an unsuitable recommendation to invest in an alternative investment.
See this for more information on REITs and Other Alternative Investments
According to FINRA records in 2013 Giallourakis was named in a FINRA arbitration (#13-1526) by a customer alleging breach of fiduciary duty, misrepresentation and negligence in connection with an investment in promissory notes, limited partnership interests and real estate securities. That matter was settled for $180,000.
Nick Giallourakis was registered with VSR Financial Services from 8/2004-6/2016. He is currently registered with Newbridge Securities.
VSR Financial Services was fined $550,000 by the Financial Industry Regulatory Authority (FINRA) in May 2013 in connection with the sale of alternative investments. In their findings, FINRA criticised VSR Financial for recommending high concentration levels of alternative investments in customer accounts and for its lack of supervision over the use of consolidated reports prepared by brokers and provided to customers.
Alternative Investments: These are assets that are not stocks, bonds or cash. Alternative investments generally fall within five categories: hedge funds, private capital, natural resources (oil and gas, energy), real estate (REITs) and infrastructure. They are typically less liquid that conventional investments, less regulated with higher fees and generally higher risk. For more investigations involving Alternative Investments, see this.
If you have losses in an account with Nicholas M. Giallourakis or Newbridge Securities, contact us to discuss how you may be able to recover damages for those losses .
Investigations of other Newbridge Securities brokers
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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