November 25, 2014
To resolve allegations that he refused to cooperate with FINRA’s request that he provide documents and information and appear for testimony in connection with an investigation into allegations that he transferred firm customer funds via wire to an outside business under his control, Malcolm Segal was permanently barred from the securities industry.
According to FINRA records, Segal was registered with Aegis Capital Corp. from 4/2011 until 7/28/2014 when he was discharged when “Mr. Segal failed to cooperate with an internal investigation into a customer complaint alleging that in December 2013, Mr. Segal, on an unauthorized basis, transferred monies via wire from the client’s account”.
Segal was previously registered with Cumberland Brokerage Corporation and Cumberland Advisors from 2/1998-4/2011.
Rex Securities Law , located in Boca Raton, FL, 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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