Category Archives: Delaware Investor Protection Unit

Gabe Block-Former Oppenheimer/First Std. Financial Broker-Barred From Securities Industry-Rumson, New Jersey

March 2018- Red Bank, NJ

The FINRA records of Gabriel (Gabe)  Block, a former stockbroker who was last employed by First Standard Financial Co., disclose 2 final regulatory events and 8 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.

On March 13, 2018, FINRA permanently barred Block from the securities industry in connection with a complaint filed by the Delaware Investor Protection Unit alleging numerous violations, including:

  • Securities Fraud
  • Churning
  • Dishonest or Unethical practice-Narcotics Use
  • Excessive Trading

FINRA found it not in the public interest, and would create an unreasonable risk of harm to the market and investors for Block to continue to associate with his firm. Block was employed by Janney Montgomery and Oppenheimer during the period of time when activity occurred leading to the regulatory action.

Gabe Block discloses settlement of the following   customer disputes :

  • FINRA Case 15-1551- a customer while Block was registered with Oppenheimer & Co. alleges churning, unsuitability, breach of fiduciary duty in connection with the handling of family accounts. Damages were alleged to be $800,000. The case was settled for $675,000.
  • FINRA Case 15-1550-a customer while Block was registered with Oppenheimer & Co. alleges churning, unsuitability, breach of fiduciary duty in connection with the customer’s account. Damages were alleged to be $100,000. The case was settled for $60,000.
  • Block’s FINRA record discloses two other customer disputes that wereresolved including one in which a customer alleged mismanagement of investments between 9/2005-12//2008, while Block was registered with Janney Montgomery Scott. That case was settled for $375,000.

Block  was registered with First Standard Financial  from 3/2016-3/2018. He was registered with National Securities Corporation from 3/2014-4/2016 and with Oppenheimer from 11/2008-3/2014. He discloses a business affiliation with Block Wealth Management in Rumson, NJ.

If you have losses in an account handled by Gabriel Block contact us 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.

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