April 2018 UPDATE-New York
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 FINRA records of Gary B. Weiss, a stock broker who is not currently registered and who last was employed in the industry by Salomon Whitney Financial, disclose 2 regulatory events and 2 prior customer disputes.
IN 12/2017 Weiss was suspended for 30 days by FINRA and fined $5,000 to resolve allegations that he failed to properly supervise another broker who made unsuitable investment recommendations to a customer.
In FINRA Case 14-02534 a customer of Salomon Whitney Finanical alleged unsuitable trading, failure to supervise, churning and unauthorized trading in their account. IN 7/2016 the customer was paid $125,000 to settle the matter.
Weiss also settled FINRA Case 15-0570 in which a customer alleged unauthorized trading and unauthorized use of margin. That case was settled in February 2016 for $75,000.
Weiss, who is not currently registered, was employed by Salomon Whitney Financial from 12/2011-12/2015. Prior to that he was registered with First Midwest Securities.
If you have losses in an account handled by Gary B. Weiss, contact us for a no charge consultation 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.
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