Category Archives: Newbridge Securities Corp.

Churning, Failure to Supervise, First Midwest Securities, Legend Securities, Newbridge Securities Corp., Salomon Whitney (SW Financial), Unsuitable Investments, Worden Capital Management

Stephen Sullivan-Former Newbridge Securities Broker-Subject of $500K Customer Suit-Melville, NY

August 2018-Melville, New York

According to FINRA records,  Stephen J. Sullivan,   a stockbroker who currently works for SW Financial (formerly Salomon Whitney Financial) ,   discloses  a prior regulatory event, a pending customer dispute, a prior customer dispute and 3 currently pending judgment/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 February 2016, without admitting or denying the findings, Sullivan consented to sanctions and entry of findings that while employed by First Midwest Securities, he exercised discretion in the accounts of two customers without obtaining their prior written approval. He was suspended for 10 business days and fined $5,000.

In currently pending FINRA Case 18-01444 a customer of one of his prior employers, Newbridge Securities, alleges that Sullivan made unsuitable recommendations and traded the account excessively. The customer is seeking damages of $540,618.

According to his FINRA record, sInce obtaining his Series 7 broker’s license in 1998, Sullivan has been employed by  14 different brokerage firms. His current employment with  SW Financial began in 5/2018.

Sullivan’s recent prior employment includes Worden Capital Management, Newbridge Securities and Legend Securities. 

If you have losses in an account handled  Stephen Sullivan, call for a no charge consultation 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.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Broker Disclosing Outstanding Liens/Judgments, InvestaCorp Inc, Newbridge Securities Corp., SII Investments Inc.

Edward A. Klug-Concierge Wealth Management-Discloses Numerous Tax Liens-Appleton, WI

August 2018-Appleton, WI

The FINRA records of  Edward A. Klug,  a  former stock broker who was last employed by Newbridge Securities ,  disclose 4 prior customer disputes, and 5 currently outstanding judgment/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.

Klug discloses the following outstanding tax liens:

  • Wisconsin Department of Revenue-$141,711
  • IRS-$482,714
  • IRS-$44,229
  • IRS-$6,695
  • IRS-$44,636

Klug was employed by Newbridge Securities from 5/2016-5/2018. Prior employments include Investacorp and SII Investments. He does business as Concierge Wealth Management in Appleton, WI.

If you have losses in an account handled by Edward Klug call for a no charge consultation to discuss your legal options for recovery.

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

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Failure to Supervise, Misrepresentation, Newbridge Securities Corp., REITs, Salomon Whitney (SW Financial), Stockbroker Malpractice, Unauthorized Trading, Unsuitable Investments

Dennis Hayes-Former Newbridge Securities Broker-Discloses Numerous Customer Suits-Charlotte, N. Carolina

UPDATED December 2018- Charlotte, N. Carolina

According to FINRA records,  Dennis Allen Hayes ,  a stock broker who  is not currently registered and who formerly worked for Newbridge Securities Corp. , discloses 2 pending and 4 prior final customer disputes, a pending regulatory investigation 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.

In recently resolved FINRA Case 17-3125, a customer of Newbridge Securities alleged that they were sold unsuitable securities. That case was settled in 10/2018 for $760,000.

In FINRA Case 16-02002, a customer of Newbridge Securities alleged that they were sold unregistered securities. That case was settled in 8/2017 for $120,000.

In FINRA Case 16-0899 a customer of Newbridge Securities alleged fraud, misrepresentation and violations of the N. Carolina Securities Act. The case was settled in 7/2016 for $12,500.

The pending cases include:

  • FINRA Case 17-2853. A Newbridge Securities customer seeks damages of $650,000 and alleges that Hayes recommended unsuitable investments in promissory notes and private placements. The customer also alleges that Hayes engaged in unauthorized transactions.
  • A pending customer complaint involving a promissory note which seeks damages of $66,246.

In July FINRA made a preliminary determination to recommend disciplinary action be taken against Hayes for numerous violations of FINRA rules.

Hayes was employed by Newbridge Securities from 2/2010-9/2016. In 9/2016  he was “permitted to resign” from Newbridge who made the following allegation on Hayes’ FINRA record: “He was permitted to resign based on two issues, first the firm has an open internal review regarding a customer complaint that evolved into an arbitration for possible selling away and private securities transactions. Second, had little or no production in the last 12 months.”

Hayes discloses business affiliations with Dennis A Hayes, CPA, and Dennis A. Hayes Financial Services in Charlotte. He was employed briefly by Salomon Whitney Financial during 4/2017.

If you have questions about losses  an account handled  by Dennis A. Hayes , call for a no charge consultation to learn how you may be able to recover damages through FINRA arbitration.

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

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

CBG Financial Group, Failure to Supervise, FINTEGRA LLC, Newbridge Securities Corp., Unsuitable Investments

John E. Egan-Newbridge Securities Broker-Subject of Customer Dispute Alleging Unsuitable Investments-Boca Raton, FL

April 2018 -Boca Raton, FL

According to FINRA records, John Eugene Egan ,  a   stockbroker who is currently employed by Newbridge Securities Corp., disclose  a prior regulatory event, a pending customer dispute and two 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 pending FINRA arbitration #18-0882, a customer of Newbridge Securities alleges that Egan made unsuitable investment recommendations, breached his fiduciary duty and that Newbridge failed to properly supervise Egan. Damages are unspecified, to be proven at final hearing.

In one of the prior customer disputes disclosed by Egan, a FINRA arbitration panel awarded a customer compensatory damages of $100,000, punitive damages of $100,000, costs of $32,735 and FLA statutory interest, to resolve their claim related to the recommendation to invest in RMK Funds. FINRA Case #11-0726.

John Egan has been employed by Newbridge Securities since 8/2013.. Prior employments include CBG Financial and FINTEGRA LLC.

If you have losses  in an account handled by John E. Egan or believe that your account has been mishandled,  contact us for a no charge consultation to discuss 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.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Broker Discloses Criminal Event, Discretionary Trading, Elder Financial Abuse, Failure to Supervise, FInancial Exploitation of the Elderly, Finra Investigation of Stockbroker, Metlife Securities, Misrepresentation, Newbridge Securities Corp., Stockbroker Discharged, Stockbroker Malpractice, Theft, Unauthorized Trading, Wells Fargo

Brian Berger-Former Newbridge Securities Broker-Sentenced for Fraud-Boca Raton, FL

April 2018-Boca Raton, FL

The FINRA records of former stockbroker Brian M. Berger disclose a pending regulatory matter and two prior regulatory matters, a criminal conviction, 4 customer disputes and a termination from employment.

In 7/2015 Berger  entered into a Letter of Acceptance Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA) to resolve allegations that he failed to cooperate with a FINRA investigation into allegations that he had misappropriated funds from elderly customers while registered with Wells Fargo Advisors and MetLife Securities.As a result, Berger   was  barred from the securities industry.

There is an SEC administrative proceeding pending in connection with the misappropriation of funds.

In 2/2017, in the U.S. District Court for the Southern District of Florida in Miami, Berger pleaded guilty to wire fraud and was sentenced to 18 months and ordered to pay restitution of $372,643.

Over $300,000 has been paid in settlements to former customers of Berger.

According to FINRA records, Berger was registered with Wells Fargo Advisors in Boca Raton from 7.2010-7/2014 and with MetLife Securities from 7/2014-4/2015. After that he was briefly registered with Newbridge Securities from 4/2015-6/2015.

If you have questions about an account handled by Brian Berger, call for a no charge consultation 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

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870