While only 2.6 percent of the brokers at firms with more than 200 brokers have customer complaints, Aegis Capital (24.49 percent) and Newbridge Securities Corp. (24.27 percent) employ bad brokers (with complaints) at nearly 10 times that rate (see Table 1 below), McCann said. $20,000 after it consented to findings that it negligently permitted its , did not properly warn them of the risks involved with the recommended investments. Pick all the topics you are interested in to fill your homepage with stories you'll love. The foregoing information, which is all publicly available, is being provided by The White Law Group. You may suffer significant losses at the hands of your financial advisors misconduct, such as if they misrepresented or failed to disclose the risks associated with a particular investment, recommended frequent trades for the sole purpose of generating commissions, or used high-pressure tactics to make a sale. July 2017 The State of Pennsylvania sanctioned Newbridge Securities after allegations that it failed to reasonably supervise a registered representative in connection with the sales of structured products in the state. View complaint history and get your dispute resolved quickly. 2010., In March 2011, Newbridge was fined Don't give up. Newbridge Securities Corporation Hires Peter Czarnomski to Head Customer Service Group August 2019 The White Law Group filed a FINRA lawsuit against Newbridge on behalf of a Glendale, Arizona resident, requesting damages for alleged violation of common law fraud, breach of fiduciary duty, negligence, and negligent supervision. Fined $138K by FINRA. A large number of customer complaints at Newbridge Securities Corporation also raises questions about . The Focus Report showed that in 2018, Newbridge had almost $33 million in revenues, yet reported only . Investigation of Newbridge Securities Corporation Broker Jeffrey Eglow Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. "We do not believe the Puerto Rico complaints represent an accurate measure of SSLLCs sales or supervisory practices.". Dedicated to the representation of investors in claims against their financial professional or brokerage firm, The White Law Group has the expertise to help investors defrauded in securities, investment and financial business transactions. In this article you will find a running list of links to news stories about Newbridge Securities customer complaints and regulatory actions. Major findings include: The more heavily a firms customers are concentrated in equity products, the more likely the firms misconduct involves excessive trading in client accounts. FINRA Censures and Fines Newbridge Securities Corp. March 2023 Newbridge this week agreed to sanctions involving supervisory failures and sales of a risky alternative mutual fund. 0. Newbridge Securities Corp.,a mid-sized broker-dealer based in Boca Raton, FL with 35 regulatory event disclosures, has a history of compliance problems, according to an article in Investment News. Newbridge Securities Corporation Review - Scam Search He was direct and asked all the questions that were relevant and provided me with very thoughtful feedback and some useful contacts. Thomas John Avery at NEWBRIDGE SECURITIES CORPORATION - View Complaints, Disclosures, Scams and Audit Report (Updated 2023) Posted on April 1, 2023 April 1, 2023 Less than 0 min read Saving Bookmark this article Bookmarked. The claim alleges former Newbridge financial advisor Lawrence Labine (Larry Labine), unsuitably invested his client in high-risk alternative investments. Newbridge engages in a general Contact :: Newbridge Securities Your email address will not be published. Although our offices are in Seattle, Washington and Chicago, Illinois, the firm reviews securities fraud cases throughout the country. 1200 NORTH FEDERAL HIGHWAY SUITE 400 . Reproductions and distribution of this news story are strictly prohibited. March 2017 FINRA sanctioned Newbridge Securities after allegations it failed to report 9,398 reportable order events to the order audit trail system on 147 separate business days, and additionally that the firm transmitted 1,017 reports with inaccurate, incomplete, or improperly formatted information. Newbridge Securities Corp's Kerri Jamison Facing Suitability Questions If Finra unshackled BrokerCheck, researchers would come up with innovative ways to reach and inform unsophisticated investors about high-risk brokers and brokerage rms, McCann said in the firms white paper. This article is syndicated automatically through a third-party agency from BROKERAUDIT.COM. Financial Advisor Michael R. Greenfield (Newbridge Securities Corp We fight to level the playing field between large corporations and the public investor. A group of control persons and promoters reportedly used accounts at the firm to execute pre-arranged in-house agency cross and wash transactions that were intended to generate volume and support or increase the price of the stock. Newbridge Securities Corp. is owned by Newbridge Financial Inc. and Jerry Weigle, and it is the parent company of Ludwig Investments, Inc., Newbridge Securities Corp., and Newbridge Securities Corporation. The firm has 31 regulatory events and 4 arbitrations on its record, according to FINRA, the self-regulator that oversees brokers and brokerage firms. The Financial Industry Regulatory Authority Inc. reportedly censured Newbridge Securities and fined the firm $225,000 for having failed to adequately supervise the sale of complex securities such as. Made unsuitable investment recommendations. The bonds were sold with varied maturity terms ranging from 2 years to 7 years, with interest rates ranging from 5.50 percent to 8.50 percent, according to a prospectus released by GWG for the issuance of $2 billion in L Bonds. The Wolper Law Firm According to publicly available records released by the Financial Industry . At the time of filing Labine reportedly had six regulatory events, two judgement liens, one employment separation, and 23 customer complaints on his broker report. Newbridge agreed to be censured and fined $115,000 after allegations that it failed to apply sales charge discounts to certain investors eligible investments in unit investment trust products (UITs). and enforce supervisory systems and written supervisory procedures related to Total. Newbridge Securities has an overall rating of 3.0 out of 5, based on over 23 reviews left anonymously by employees. -, Friday November 11, 2022 2:00 PM EST The firm is headquartered in Boca Raton, Florida, and it was established in 2001. Should I file a FINRA complaint against brokers like Thomas John Avery? For more information on The White Law Group, visit whitesecuritieslaw.com. Newbridge Securities Corporation: What Every Investor Should Know The White Law Group is investigating potential securities claims involving Newbridge Securities Corp. (CRD#: 104065, Boca Raton, FL). Newbridge repeortedly failed to review representatives LJM recommendations. Thomas John Avery at NEWBRIDGE SECURITIES CORPORATION - View Complaints, Disclosures, Scams and Audit Report (Updated 2023) By The Dirt April 1, 2023 4 Mins Read. released by the Financial Industry Regulatory Authority (FINRA), in September contingency fee basis. a copy of the FINRA sanction, click here: Copy of FINRA Sanction. For a copy of Bruce Jordans CRD, click https://brokercheck.finra.org/individual/summary/1223556. -, Thursday August 27, 2020 9:00 AM EST The firm was censured and fined $17,500. It claims that it provides services in over 80 locations countrywide. Brokerage firms that fail to monitor the business activities of their employees may be liable for investment losses due to negligent supervision for the misconduct of their employees. Registered broker-dealers are legally responsible for the actions of their investment advisors. If you have traded with Newbridge Securities Corporation and believe you have been scammed by them you have a chance to get your money back. Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. Please do not hesitate to call us today at 844-689-5754 to request a free review of your case. Michelle Lujan Grisham has signed emergency legislation to amend New Mexicos new medical malpractice statute in order to prevent a potential loss of insurance coverage for certain healthcareproviders. We want to hear it. 0. While the industry itself may concur with the secrecy, consumer groups and some securities experts do not. A few recent examples: FINRA fined Newbridge $600K for their failure to supervise representatives who facilitated the sale of unregistered securities. Newbridge Securities Financial Advisor Kerri Jamison Has Multiple Newbridge Securities Corporation Broker Misconduct. When brokers violate securities laws, such as making unsuitable investments, the brokerage firm they are working with may be liable for investment losses through FINRA Arbitration. Censured and fined $17,500 by FINRA. Corporation has 29 regulatory events and four arbitrations disclosed on its This type of misconduct can damage market integrity and innocent harm investors. is_redirect && ! The lawsuit alleges medical malpractice and also [], The New Mexico governor signs a medical malpractice bill, Gov. However, the announcement of GWGs bankruptcy shows that the principal of L Bond investors is really at risk, and GWG investors are certain to sustain significant losses. From our primary office in South Florida, we protect investors nationwide. This was for their failure to buy or sell corporate bonds at a fair price. John Demeo of Newbridge Securities Corp. - Law Offices of Robert Wayne The office of Governor Lujan Grisham stated that she signed the bill on Wednesday and appreciated the Legislatures action during the recent special session on redistricting [], A jury awards $26 million in a negligence case, a Nebraska record, A Douglas County jury has awarded $26.1 million to a family from Sarpy County who sued Childrens Hospital and Medical Center in Omaha after their child was sent home after an accidental fall and then suffered seizures that left her permanently disabled; however, this amount could be drastically reduced due to a state cap on [], Utah judge to rule on state abortion clinic moratorium next week, The Planned Parenthood Association of Utah argued in court on Friday that a ban on abortion clinics would functionally eliminate abortion access if implemented as scheduled next week. Specifically, these allegations involved the buying and selling of corporate bonds. B. Riley Financial Announces Offering of $100 Million Senior Notes Due 2028 and "BBB+" Rating from Egan-Jones, Wednesday January 13, 2021 11:00 AM EST Specifically, FINRA enforcement staff found that representatives of Newbridge Securities were engaged in a complex scheme that was designed to increase the volume of trades on a particular stock. After hearing arguments from attorneys representing Utah and abortion providers, state court judge Andrew Stone stated that he would rule on Planned Parenthoods motion to defer the [], Experimenting with radiation to treat irregular heartbeat, ALLY INVEST SECURITIES LLC (CRD#: 136131) :: 11/29/2017 3/18/2019 :: FORT LAUDERDALE, FL, AXA ADVISORS, LLC (CRD#: 6627) :: 8/20/2012 10/30/2017 :: FT. LAUDERDALE, FL, INVESTACORP, INC. (CRD#: 7684) :: 3/30/2006 11/12/2009 :: MIAMI, FL, NATIONAL FINANCIAL SERVICES LLC (CRD#: 13041) :: 7/12/2005 3/8/2006 :: BOSTON, MA, E*TRADE PROFESSIONAL TRADING, LLC (CRD#: 39293) :: 5/25/2004 5/25/2005 :: NEW YORK, NY, CHASE INVESTMENT SERVICES CORP. (CRD#: 25574) :: 1/7/2004 1/13/2004 :: CHICAGO, IL, JEMMINI SECURITIES, LLC (CRD#: 119665) :: 9/23/2003 12/2/2003 :: NEW YORK, NY, AXA ADVISORS, LLC (CRD#: 6627) :: 10/16/1998 11/22/2002 :: NEW YORK, NY, THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES (CRD#: 4039) :: 10/16/1998 1/5/2000 :: NEW YORK, NY, WALL STREET EQUITIES INCORPORATED (CRD#: 18432) :: 10/25/1995 8/25/1998 :: NEW YORK, NY, WALL STREET INVESTOR SERVICES (CRD#: 10012) :: 5/12/1995 7/18/1995 :: NEW YORK, NY, INVESTEX SECURITIES GROUP, INC. (CRD#: 30094) :: 2/6/1995 6/5/1995 :: NEW YORK, NY, NATIONAL DISCOUNT BROKERS (CRD#: 27501) :: 10/3/1994 12/8/1994 :: OMAHA, NE, CHARLES SCHWAB & CO., INC. (CRD#: 5393) :: 3/13/1992 9/30/1994 :: SAN FRANCISCO, CA, WATERHOUSE SECURITIES, INC. (CRD#: 7870) :: 3/14/1989 5/29/1991 :: OMAHA, NE, OMNI MUTUAL, INC. (CRD#: 10243) :: 12/16/1987 4/14/1988, AUSTIN SECURITIES, INC. (CRD#: 17094) :: 9/18/1987 11/16/1987, WALL STREET DISCOUNT CORPORATION (THE) (CRD#: 11069) :: 3/5/1987 9/17/1987, BROOKS WEINGER ROBBINS & LEEDS INC. (CRD#: 14156) :: 9/24/1986 3/12/1987, VENUS INTERNATIONAL GROUP, LTD. (CRD#: 16722) :: 8/13/1986 9/24/1986, BROOKS WEINGER ROBBINS & LEEDS INC. (CRD#: 14156) :: 12/17/1985 5/20/1986. Your email address will not be published. 2015 by The White Law Group, LLC All rights reserved. According to the Financial Industry Regulatory Authority, James Williams holds 34 years of securities industry experience. complaints/lawsuits against Newbridge are the result of GWG Holdings L Bonds, GWG Holdings, Inc. submits a bankruptcy petition, Newbridge Securities appears to be a haven for rogue brokers. Newbridge Securities Corporation Features on its Platform Don Selkin, the Creator of Fair Value numbers included in the U.S. Futures Report on CNBC for Over 35 Years, as its Chief Market Strategist The firm reportedly failed to adequately supervise the registered representatives who participated in the sales of unregistered securities, according to FINRA. 1200 N Federal Hwy #400, Boca Raton, FL 33432. [Attorney Bio], 1250 S. Pine Island Road, Suite 325 Plantation, FL 33324 Phone: 800.931.8452 / 954.406.1231, 2022 The Wolper Law Firm, P.A. Powered by Intelligent Holdings. Has James Ray Caused You Financial Loss? (Newbridge Securities) Owners of GWG L Bonds, an alternative investment offered to regular investors across the nation by a network of brokerage firms, will find this announcement to be painful news. Many investors (presumably, like yourself) are unaware of the legal recourse available to them after losing money due to securities broker fraud and/or Northstar Financial Services (Bermuda), Ltd. https://brokercheck.finra.org/firm/summary/104065#disclosuresSection, https://brokercheck.finra.org/individual/summary/1223556, Newbridge Securities Financial Advisor, Peter Goffin, Has Nine Customer Complaints, Newbridge Securities Corporation Financial Advisor, Michael Greenfield, Has Six Customer Complaints, Newbridge Securities Broker, David Fagenson, Has Twelve Customer Complaints Reported On His Disclosure Report, Newbridge Financial Advisor, Dana Davis, Has Eight Customer Complaints, Including Two Pending Complaints, Wolper Law Firm Is Investigating Claims Against Financial Advisor, Xavier Patino, Newbridge Securities Corp. Financial Advisor, Dana Davis, Has 7 Customer Complaints, Including One Pending Complaint Alleging Fraud And Breach Of Fiduciary Duty, Can I Sue Newbridge Securities Corporation Or Salomon Whitney Financial To Recover Investment Losses Caused By Dennis Hayes, Financial Adviser Duane Pellman was Permitted to Resign from Excel Wealth Management, Financial Advisor Miche Jean Disclosed Two Month Suspension by FINRA.