July 2021- Beverly Hills, CA
According to publicly available records Trevor M. Saliba (CRD#2692057), a former stockbroker who last worked for NMS Capital Advisors, has been permanently barred from FINRA. The ruling is currently under appeal.
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 4/2021, in case #2013037522501, FINRA alleged that by Saliba acting as a principal and/or supervisor, he caused his member firm to violate interim restrictions placed on it by FINRA shortly after it filed a continuing Membership Application. The complaint alleges that Saliba immediately began violating the interim restrictions by signing numerous engagement agreement obligating the firm to provide investment banking services for clients, hiring the firm’s CEO, hiring or participating in hiring other personnel and reviewing the firm COO’s outside brokerage account statements. The complaint also alleges that Saliba made misrepresentations and failed to complete response to FINRA request and that he provided false memos to them. Allegations are also that Saliba caused the firm to maintain inaccurate books and records as he knew or should have known that the memos maintained by the firm were false. Sanctions were that Saliba was barred from FINRA. The investigation is still pending, but the bar was effective as of January 2019.
If you had an account with Trevor Saliba that suffered losses, you may be entitled to collect damages from his prior employer. Call 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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