Tag Archives: First Standard Financial Company

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.

Nationwide Representation

Rex Securities Law

National Toll Free: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Joseph M. Thurnherr-Former Windsor Street/Meyers Assoc. Broker-Discloses Numerous Customer Suits-New York

March 2018 – New York

The FINRA records of  Joseph M. Thurnherr,  a  stock broker who is currently employed by Spartan Capital Securities  disclose  two prior regulatory matters, three pending customer disputes , three prior final customer disputes and 2 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.

In December 2017 Thurnherr was suspended by FINRA for failing to comply with an arbitration award or settlement agreement or to satisfactorily respond to a FINRA request to provide information concerning the status of compliance. That suspension was lifted in January 2018. FINRA Case 16-01460.

In October 2017 Florida securities regulators (Florida Office of Financial RegulationFOFR“) denied Joseph Morris Thurnherr’s application for registration as a broker for Spartan Capital Securities after he failed to request a hearing following the issuance of a Notice to Deny by FOFR, who alleged that Thurnherr made a material misrepresentation or misstatement on his application for registration.

In pending FINRA Case 17-0884 a customer of Meyers Associates (now known as Windsor Street Capital) is seeking damages of $383,000, alleging churning, improper use of margin borrowing, unsuitable investments and unauthorized trading.

In FINRA Case#16-01460, a customer of Thurnherr’s prior employer First Standard Financial Company alleges damages of $93,624 alleging that his account was unsuitably invested and over concentrated.

In FINRA Case#1-01143, a customer of Thurnherr’s prior employer Legend Securities alleges damages of $536,180 alleging churning, excessive trading, suitability, unauthorized trading, negligence, breach of fiduciary duty and misrepresentation.

Thurnherr has been registered with Spartan Capital Securities since 1/2017. He was with Windsor Street Capital (formerly Meyers Associates) from  11/2015-1/2017;   with First Standard Financial Company from 10/2014-10/2015; National Securities Corp from 11//2012-10/2014; and with Legend Securities from 1/2011-1/2012.

If you have questions about an account handled by Joseph M. Thurnherr, call for a no charge consultation to learn about your options.

Meyers Associates is now  Windsor Street Capital

In 2016 Meyers Associates changed its name to Windsor Street Capital. While called Meyers Associates the firm gained a reputation for hiring brokers whose FINRA BrokerCheck reports had an inordinate number of disclosures. The Investment News reported in 2014 that Meyers Associates “stands out as a haven for registered representatives with black marks on their employment histories”. 

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

Former Alexander Capital Brokers-Billy Gennity and Rocco Roveccio-Named in SEC Fraud Suit-NYC

April 2018 Update– According to his FINRA record, Rocco Roveccio is the subject of recently file FINRA arbitration 17-3364 in which a customer of Alexander Capital alleges churning and unauthorized trading and is seeking damages of $115,995.

September 2017-New York

Two New York City brokers, who at the time were working for Alexander Capital L.P., have been charged with securities fraud by the Securities and Exchange Commission. William (aka Billy Gennity ) Gennity,30,  and Rocco Roveccio, 42,  have been charged with making unsuitable recommendations to customers resulting in ill-gotten gains for Gennity and Roveccio.

According to the complaint filed by the SEC , Gennity and Roveccio:

  • knew or recklessly disregarded that their recommendations were not suitable for anyone
  • made recommendations that were unsuitable for certain of their customers in light of those customers needs, investment objectives and circumstances.
  • made material misrepresentations and omissions to customers.
  • churned customer accounts, and
  • engaged in unauthorized trading

As a result nearly $500,000 in commission were earned by Gennity, Roveccio and Alexander Capital LP, while the clients suffered losses of nearly $700,000.

William C. Gennity of Staten Island, NY, was employed by Alexander Capital 4/2012-10/2014 and worked at eight different firms during his 13 year career in the securities industry. He is currently employed by First Standard Financial Company. His FINRA record discloses 3 pending customer disputes and 3 prior customer disputes.

Rocco Roveccio of Freehold, NJ, was employed by Alexander Capital 6/2012-10/2014 and was employed by 15 different firms during his 22 years in the securities industry. He is currently employed by First Standard Financial Company. Roveccio’s FINRA record discloses 3 prior customer disputes and two outstanding judgment liens. In one of the customer disputes brought by a customer of his former employer, LCP Capital Corp, the customer alleged unauthorized trading, suitability, breach of fiduciary duty and churning. The customer was awarded damages of $216,275.

In FINRA Case 13-01691, a customer of Alexander Capital LP alleged unauthorized trading, breach of fiduciary duty and unsuitability and was paid a settlement of $87,500 by Roveccio.

If you have questions about losses in an account handled by William Gennity or Rocco Roveccio, call to learn how you may be able to recover damages from their prior employer.

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.

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870