Antoine Souma Investigation
May 2022-Beverly Hills, CA
According to publicly available records Antoine Nabih Souma, a broker with Insigneo Advisory Services discloses a regulatory event, a prior customer dispute and a termination from employment.
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.
FINRA Sanction 11/2021: Souma consented to the sanctions and to the entry of findings that he provided incorrect and misleading account reports to a customer that, amount other things, included incorrect account values and account performance information, omitted positions held in the customer’s accounts, and, in one report, understated the amount of commissions that the customer had paid for transactions. These events occurred while Souma was employed by J.P. Morgan Securities. Sanctions ordered were a two month suspension (12/2021-2/20 22)and a $20,000 fine, paid by Souma individually.
In 12/2016 in FINRA case #16-03663 , filed by a J.P. Morgan Securities customer, the customer alleged exercise of discretion, excessive and unstable trading, falsified performance reports, failure to extend a promised credit line, breach of fiduciary duty, misrepresentation and omission of material facts, breach of contract, constructive fraud, failure to supervise, violation of state and federal securities laws and FINRA rules and promissory estoppel. That case settled for $14,000,000.
In 12/2021, Souma was permitted to resign from his employment with Galliott Capital after allegations that termination of his registration was requested by the State of California due to the FINRA suspension.
Souma has been employed by Insigneo Advisory Services since 7/2020. He is also a registered investment advisor with Galliott Capital Advisors since 2/2022. Prior employment includes Morgan Stanley, J.P. Morgan Securities. Deutsche Bank Securities and UBS Financial Services.
If you had an account with Antoine Souma that suffered losses, you may be entitled to collect damages from his 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.
Nationwide Representation
TollFree: 877-224-3199
Florida-561 391 1900
Texas-512-329-2870
