Rex Securities Law is investigating former broker Dean S. Mustaphalli of Forest Hills, NY, who was last registered with Sterne Agee Financial Services from 12/2009-9/2011.
On December 15, 2015, the Financial Industry Regulatory Authority (FINRA) entered an Order Accepting Offer of Settlement in Disciplinary Proceeding No 2013036880302 in which Mustaphalli consented to the entry of findings and violations consistent with a complaint filed against him by FINRA and the entry of sanctions.
Findings in the complaint include:
- In 2011, Mustaphalli formed and managed a hedge fund which raised $6 million and received compensation for managing the fund but failed to provide written notice or receive written acknowledgement from his employer member firm
- Mustaphalli failed to timely provide a list of the hedge fund clients or unredacted account statements to FINRA in connection with their investigation into his activities.
Mustaphalli was suspended for two years, assessed a fine of $20,000 and ordered to disgorge management fees of $41,800.
If you suffered losses as a result of investments you made with Mustaphalli, contact us to learn 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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