Tag Archives: National Securities Corporation complaint

Douglas E. Duncan-Former National Securities Corp. Broker- Discloses Customer Dispute-Westbury, NY

May 2017-Westbury, New York

The FINRA records of  Douglas E. Duncan ,  a  stockbroker who is currently  registered with PHX Financial  and Scottrade, Inc.  disclose a pending customer dispute.

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 16-0735, a customer of Duncan’s prior employer, National Securities Corp. alleges damages of $500,000 for breach of fiduciary duty, negligent misrepresentation and negligence.

Douglas E. Duncan has been employed by PHX Financial since 5/2017 and Scottrade since 3/2016. His previous employments include Worden Capital Management 6/2015-3/2016, Four Points Capital Partners 4/2015-6/2015 and National Securities Corp. 9/2014-3/2015.

If you have questions about an account  handled by Douglas E. Duncan  , contact us 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

Mark A. Gassoso-National Securities Corp. Broker-Discloses Customer Dispute-Jersey City

Updated April 2018-Jersey City, New Jersey

According to publicly available records Mark A. Gassoso  , (CRD# 2590007) ,  a  stockbroker who is employed by National Securities Corporation, discloses a final regulatory event,  a pending customer dispute and 2 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 the currently pending matter a customer of National Securities Corporation filed FINRA arbitration #16-2863 alleging damages of $150,000 for unsuitable recommendations, breach of fiduciary duty, negligence and negligent misrepresentations.

Mark A. Gassoso has been employed by National Securities Corporation since 11/2000.

If you have questions about an account in an account handled by Mark A. Gassoso , 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

Douglas W. Studer-Former Kovack Securities Broker-Barred by Securities Regulator-Ft. Lauderdale, FL

February 2017-Ft. Lauderdale, FL

According to publicly available records Douglas W. Studer , (CRD# 4440047) ,  a  former stockbroker who was last employed by Kovack Securities, disclose that he was permanently barred by FINRA from acting as a broker or otherwise associating with firms that sell securities to the public.

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 September 2016 , without admitting or denying the allegations, Studer consented to the entry of findings that he refused to appear before FINRA for on the record testimony in relation to an investigation into whether he had violated his employing member firm’s policy by being named in an elderly customer’s estate documents to inherit the customer’s waterfront condominium.

 

In November 2015, a customer of Studer’s prior employer, National Securities Corporation alleged damages in excess of $5,000 for unauthorized trading in mutual funds. That matter was settled for $60,010.

Public records reveal that Studer filed and was discharged from Chapter 7 Bankruptcy in April 2010.

Prior to Kovack Securities, Studer was employed by National Securities and before that by Prime Capital Services.

If you have questions about an account in an account handled by Douglas W. Studer, contact us 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

Christos A. Kalatoudis-Former Worden Capital Broker-Discloses Regulatory Events & Pending Judgment/Liens

July 2016-Lake Success, New York

The FINRA records of Christos A. Kalatoudis ,  a currently unlicensed stock broker who was last employed by Worden Capital Management, disclose  2 prior regulatory events,  4 prior finalized customer disputes and 2 outstanding judgement/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 May 2016 FINRA suspended Christos A. Kalatoudis for failing to respond to a FINRA request for information . FINRA Case# 2015047385601. In January 2016 FINRA suspended Kalatoudis for failing to comply with an arbitration award or settlement agreement or to satisfactorily respond to FINRA to provide information concerning the status of compliance. FINRA Case# 14-02428.

In FINRA Case 14-02428, a customer of his prior employer John Thomas Financial brought an arbitration alleging that Kalatoudis concentrated their accounts in unsuitable and risky investments, including ‘inverse’ exchange traded funds, short term puts and private placements. At the conclusion of the arbitration the FINRA panel ordered Kalatoudis to pay the customers $180,781. Young v Kalatoudis, et al. 

FINRA records disclose two outstanding judgments or liens against Kalatoudis. The IRS has a lien for $287,786 and there is a judgment in the amount of $3,986 in favor of 2 Gold LLC.

Christos A. Kalatoudis was employed by Worden Capital Managment from 11/2013-1/2016. Prior to that he was employed by a number of firms, including: National Securities Corporation, John Thomas Financial (expelled by FINRA 10/2013), and Joseph Gunnar & Co. 

If you have losses in an account handled by Christos A. Kalatoudis call to learn how you may be entitled to collect 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

Maximillian Santos-Former National Securities Corp Broker-Discloses Pending Regulatory Matter

July 2016- New York

The FINRA records of Maximillian Santos  , a stock broker who most recently worked for Blackbook Capital, LLC  , disclose  a currently pending regulatory matter, a prior final regulatory event and a termination from employment.

According to FINRA records Blackbook Capital was expelled by FINRA in June 2016.

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 a currently pending FINRA Case # 2014041546501, FINRA alleges that Santos withdrew nearly $200,000 from his personal bank account in transactions which were structured for the purpose of causing the bank to fail to file a Currency Transaction Report (CTR) reporting a receipt of currency in excess of $10,000.

In June 2014, Santos was discharged by Oppenheimer & Co, , who made the following allegation: :”during the course of a regulatory inquiry, it was determined that Mr. Santos was sharing confidential client information with a third party and utilizing a non-Oppenheimer email address“.

In February 2016, Santos entered into a Offer of Settlement with the SEC to resolve allegations that he shared client information with third parties and used a personal email address. He was fined $75,000 and suspended for six months.

Prior to working for Blackbook Capital, Santos was employed by National Securities Corporation and before that Oppenheimer & Co. He is not currently registered.

If you have losses in an account handled by Maximillian Santos , contact us 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