Joseph A. Lianzo Investigation
November 2021 – Melville, NY
According to publicly attained records, Joseph Lianzo, a stockbroker who is not currently registered and who was last employed by SW Financial , discloses 2 prior regulatory matters, 2 prior customer disputes and 3 pending judgements/liens.
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 11/2021 Maryland securities regulators revoked Lianzo’s registration.
In August of 2021, in FINRA case #2018058278601, without admitting or denying the findings, Lianzo consented to the sanctions and to the entry of findings that he excessively traded customer accounts. The findings stated that Lianzo recommended the quantitatively unsuitable trading in the accounts for the customers and they routinely followed his recommendations. As a result, Lianzo exercised de facto control over the customers accounts. The customer accounts incurred losses of $293,308 and customers paid $127,506 in commissions. The findings also stated that Lianzo placed trades in customer accounts without their prior authorization, knowledge or consent. Sanctions were an eight month suspension from FINRA in all capacities, beginning 9/20/21.
In April of 2018 and in February of 2014, two cases were filed with FINRA alleging, among other things, churning, negligence, unsuitability, unauthorized trading, breach of contract, unauthorized transactions, failure to follow instructions, margin fraud, misrepresentation and unsuitable recommendations. These cases were collectively settled for $114,999.
The Internal Revenue Service filed tax liens against Lianzo in the amounts of $9,855 in March of 2017 and $46,890 in November of 2016. The liens are outstanding. The State of New York filed a lien against Lianzo in the amount of $11,499 in September of 2018. This lien is outstanding.
Lianzo’s prior employment includes: Arive Capital Markets, Laidlaw and Co., Cape Securities, Salomon Whitney, J.P. Turner, and Newbridge Securities.
If you have losses in an investment account handled by Joseph Lianzo, 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.
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