Tag Archives: Newbridge Securities complaint

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

Newbridge Securities Fined $499,000 For Failing to Supervise Sale of Structured Products

March 2018

Boca Raton, FL based brokerage firm Newbridge Securities Corp. was fined $499,000 by Pennsylvania Department of Banking and Securities for failure to supervise a broker in connection with the sale of structured products, like real estate investment trusts (REITs),  to Pennsylvania residents.

According to the Consent Agreement and Order, from January 2012-December 2016, Newbridge Securities did not maintain a reasonable system for applying and enforcing written procedures pertaining to their sales of structured products by an agent in Pennsylvania.

This is not the first time Newbridge Securities has encountered regulatory problems. Their FINRA record discloses 28 prior regulatory events .

Newbridge Securities has over 80 locations nationwide. Recent SEC filings report total revenue in 2016 of $26 million with a net loss of $487,738.

Newbridge Securities broker Austin Dutton Jr. was fined $200,000 by Pennsylvania securities regulators for dishonest and unethical practices in connection with the sale of REITs. Dutton currently is the subject of  $760K in customer arbitrations for losses on REITs. Follow this link for more information.

If you have questions about losses in an account at Newbridge Securities, call to learn how you may be able to recover damages.

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

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Austin R. Dutton Jr.-Former Newbridge Securities Broker-Fined $200K-Subject of $760K in Customer Suits Over REITs-Doylestown, PA

March 2018-Doylestown, PA

The FINRA records of  Austin R. Dutton, Jr. ,  a  stock broker who was formerly employed by Boca Raton-based Newbridge Securities,  disclose  a recent regulatory event, 4 pending customer disputes, 2 prior customer disputes 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 July 2017 Pennsylvania securities regulators fined Dutton $200,000 to resolve allegations that, while employed by Newbridge Securities,  he recommended the purchase of a security without reasonable grounds to believe the transaction was suitable and that he engage in dishonest and unethical practices in the securities business. Dutton was ordered to pay the $200,000 fine over a 24 month period commencing August 2017.

In pending FINRA Case 17-03229 filed  by a customer of Newbridge Securities alleges that he was sold unsuitable non-traded real estate trusts (REITs) and structured products and seeks damages of $230,000.

In pending FINRA Case 17-03240, filed  by a customer of Newbridge Securities, alleges that he was sold unsuitable non-traded real estate trusts (REITs) and seeks damages of $150,000.

In pending FINRA Case 17-02871, filed  by a customer of Newbridge Securities, alleges that he was sold unsuitable non-traded real estate trusts (REITs) and seeks damages of $350,000. The claim alleges violations of Federal and Pennsylvania Securities laws, common law fraud and failure to supervise.

Austin Dutton was employed by Newbridge Securities 8/2007-8/2017.   Since leaving Newbridge he was with Center Street Securities for a short period of time, 7/2017-9/2017 and is now registered with Sandlapper Securities since 9/2017.

Newbridge Securities, which is based in Boca Raton, FL, discloses 28 regulatory issues on their FINRA BrokerCheck report. Most recently, Newbridge was fined $499,000 in July 2017 by Pennsylvania securities regulators for failing to supervise an agent in connection with sales of structured products.

If you have losses on non-traded REITs or other structured products purchased on the recommendation of Austin Dutton, call for a no charge consultation to learn about your 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

Felipe Arrieta-Former Revere Securities Broker-Discloses Customer Disputes-Boca Raton, FL

February 2018- Boca Raton, FL

Felipe Arrieta, a stockbroker who is currently employed by Dakota Securities International and was formerly employed by Revere Securities,  discloses 3 prior final and 1 pending customer disputes on his publicly available FINRA record.

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 5/2007 a customer of his former employer, Newbridge Securities Corporation, alleged suitability, use of margin, unauthorized trading and breach of fiduciary duty.   That case was settled for $60,000.

In  currently pending FINRA case 170866, filed in April 2017,  a customer of Revere Securities alleges breach of fiduciary duty, breach of contract and unauthorized trading and is seeking damages  of $200,00.

Arrieta has been employed by Dakota Securities International since 7/2016. He was employed by Revere Securities  from  8/2014-8/2016.  His previous employers include Westpark Capital Bolton Global Capital, Jesup & Lamont Securities, VFinance Investments, and Newbridge Securities.  

If you have questions about an account handled by Felipe Arrieta 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

Jeffrey Eglow-Former Wells Fargo Broker-Discloses Customer Disputes-Delray Beach, FL

January 2018-Delray Beach, Florida

Jeffrey L. Eglow, a stockbroker currently employed by Newbridge Securities discloses 4 prior customer disputes on his publicly available FINRA record.

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 June 2017 a customer of his former employer SunTrust Investment Services settled a claim for trades that were allegedly overcharged for $48,758.

In FINRA case 16-1962 a customer of SunTrust Investment Services and Wells Fargo Advisors alleged that unsuitable investments were made in his accounts and was paid $25,000 to resolve the claim.

Eglow was with Wells Fargo from 1/2012-3/2015 and then with SunTrust Investment Services from 3/2015-9/2017 and then joined Newbridge Securities.

If you have losses in an account handled by Jeffrey L. Eglow, 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