Douglas Szempruch Investigation
Former Aegis Capital Financial Advisor
November 2021 – Melville, NY
According to publicly attained records, Douglas Szempruch, a stockbroker who is not currently registered and who was last employed by Aegis Capital Corp., discloses a regulatory matter and 2 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.
In July of 2021 in FINRA case #2017054317401 , without admitting or denying the findings, Szempruch consented to the sanctions and to the entry of findings that he engaged in quantitatively unsuitable trading in customer accounts. The customers paid over $127,000 in commissions while they suffered losses of more than $157,000. FINRA found that Szempruch traded accounts without authority, effectively exercising de facto control over the accounts. Sanctions were a 12 month suspension and an order to pay restitution of $99,720.
In March of 2018, an Aegis Capital Corp. customer alleged poor performance and unsuitable recommendation and was paid $30,000 to resolve the matter.
Szempruch was employed with Aegis Capital Corp. from June of 2011 until June of 2021. Before that time he was with Global Arena Capital Corp., Prestige Financial Center, Inc., S.W. Bach & , Harrison Company and Weatherly Securities Corporation.
If you have losses in an investment account handled by Douglas Edward Szempruch, contact us for a no charge consultation with an experienced securities attorney to learn about your legal 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.
Florida-561 391 1900