November 2019 Update
The FINRA records of Alan Z. Appelbaum , a stockbroker who was last employed by Aegis Capital , disclose 3 regulatory events, 4 pending customer disputes and 9 prior 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.
Appelbaum has been sanctioned by the Securities and Exchange Commission (SEC), the National Association of Securities Dealers (NASD) and the New Hampshire Bureau of Securities Regulation.
Seven customers of his prior employers Herbert J. Sims & Co. , Gruntal and A.F. Best have been paid cash settlements to resolve various claims, including unsuitable recommendations to invest in structured products, high yield bonds and private placements. In addition, customers have alleged that Appelbaum charged excessive markups on bonds.
There are presently 4 cases pending against Appelbaum, including:
- FINRA Case 19-2773- in which a customer of Aegis Capital seeks damages of $1.8 million and alleges unsuitable investments and unauthorized trading.
- FINRA Case-19-0947 in which a customer of Herbert Sims seeks damages of $200,000 and alleges churning.
Original Post –March 31, 2016-Boca Raton, FL
We have filed an arbitration with the Financial Industry Regulatory Authority (FINRA) against H.J. Sims & Co. on behalf of a local resident who alleges that Alan Z. Appelbaum, while employed by H.J. Sims, mishandled her account, causing her significant losses to her retirement nest egg.
Alan Appelbaum’s employment history, per FINRA, is as follows:
- 6/2015-present Aegis Capital Corp.
- 6/2002-6/2015 H.J. Sims & Co.
If you have losses in an account handled by Alan Appelbaum, call to speak with an experienced securities attorney and learn how you may be able to collect damages from Appelbaum’s employer.
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.
Florida-561 391 1900