0. Post comment Newbridge Securities Corporation celebrates its Chief Market Strategist Don Selkin Michael Greenfield of Newbridge Securities Corporation Newbridge appears to have developed a reputation for providing shelter to rogue brokers. Investigation of Newbridge Securities Corporation Broker Jeffrey Eglow According to FINRA, the firm failed to get investors a fair market price on certain trades. 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. -, Monday April 26, 2021 11:00 AM EST As a result of the misconduct, direct financial harm was done to the firms clients. If you have questions about Newbridge Securities, IAA Financial, and/or Gerald Cocuzzo and the management or performance of your accounts, please contact Attorney Pearce for a free initial consultation via email or Toll Free at 1-800-732-2889. In March 2019, Newbridge Securities Corporation ("Newbridge") filed its Form X-17A-5, commonly called a firm's Focus Report, with the Securities & Exchange Commission ("SEC"). Publishing a list with peoples names, where we havent proven any violations, there would be challenges to that, Axelrod said. Newbridge repeortedly failed to review representatives LJM recommendations. The claim alleges former Newbridge financial advisor Lawrence Labine (Larry Labine), unsuitably invested his client in high-risk alternative investments. 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. Yet, unfortunately, Newbridge Securities has not always lived up to this duty. Thomas John Avery at NEWBRIDGE SECURITIES CORPORATION - View Complaints, Disclosures, Scams and Audit Report (Updated 2023) April 1, 2023. In this article you will find a running list of links to news stories about Newbridge Securities customer complaints and regulatory actions. The complaint alleged that Cocuzzo engaged in a scheme to defraud investors and potential investors by receiving cash kickbacks to recommend and induce customers to purchase ForceField stock without disclosing those kickbacks to his customers. Complaint against Newbridge Securities Corporation? Unauthorized trading is a serious violation of an investors trust and can lead to major financial losses. Have You Suffered Losses Due to Investments with Newbridge Securities The firm is headquartered in Boca Raton, Florida, and it was established in 2001. It also has the unfortunate distinction of a large number of regulatory cases filed against it. 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 allegedly allowed the sale of LJM on its platform without conducting reasonable due diligence and without a sufficient understanding of its risks and features, including the fact that the fund pursued a risky strategy that relied on purchasing uncovered options. Wolper, the Managing Principal of the Wolper Law Firm, is a No recommendation or advice is being given as to whether any investment is suitable for a particular investor. His demeanor was professional and pleasant and I would not hesitate to use him in future matters. Newbridge Securities provides complete client services including Investment Banking, Wealth Management and Insurance & Account Protection. Bruce Jordan has been in the securities industry Total. duties are breached, the customer may be entitled to a recovery of his or her -, 11-04-2019 - Newbridge Securities Corporation Recruits New York City Based Asset Management Group and Winter Park, Florida Group Advising in Excess of $400 Million in Client Assets, 10-12-2019 - Newbridge Securities Corporation Enters into 5-Year Clearing Agreement with Axos Clearing LLC, 2023 Newbridge Securities All Rights Reserved. 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. Currently, Finra only makes one broker record at a time available to customers through its BrokerCheck tool (https://brokercheck.finra.org/). Brokers who have lost money after working with Newbridge Securities Corporation should keep reading . All copies must include this copyright statement. December 2014 FINRA sanctioned the firm after allegations that it engaged in corporate bond transactions in which it failed to buy or sell the bonds at a fair price taking into consideration all applicable circumstances. Current And Past Allegations Of Conduct Leading To Investment Loss According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), in March 2023, there is [], Margin Calls and Securities Based Lending, SECURITIES EMPLOYMENT & INDUSTRY DISPUTES. You can reach us by phone at 844-689-5754 or via e-mail. Raton, Florida. Thomas John Avery has previously been reprimanded and has disclosures and/or client dispute(s) listed at FINRA BrokerCheck. If Newbridge Securities Corporation shows any . The firm has 31 regulatory events and 4 arbitrations on its record, according to, Broker Misconduct and Customer Complaints. Fined $138K by FINRA. The firm works with retail investors as well as corporations. New York City NY, 10006 Roanoke consented to all non-monetary relief sought in the complaint and the court entered a final judgment of permanent injunction on September 27, 2006. As such, we believe that part of our role as attorney is to offer a supportive environment for our clients and to provide advice and support as we attempt to recover these investment losses. Here, our experienced securities fraud attorneys highlight some notable allegations of misconduct that have been brought against this firm. However, most of our clients were not aware their broker was problematic before they had already signed up. This article is syndicated automatically through a third-party agency from BROKERAUDIT.COM. 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. 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. NEWBRIDGE SECURITIES CORPORATION: Street Address: 1200 NORTH FEDERAL HIGHWAY: City: BOCA RATON: State: FL: Area Code: 33432: The firm allegedly permitted control persons to sell unregistered securities through firm accounts, and the sales were not made in compliance with any applicable exemption from registration. If you are considering becoming a client of Newbridge Securities or you are currently a client its important that you know about the customer complaints and regulatory actions against the firm. The rules and regulations of securities laws and FINRA policies are complex, and investment loss claims require an extensive understanding of securities arbitration to achieve the best possible results. That being said, if we are showing up at a firm asking for information on a particular registered person and coming on site to interview that person, thats a clue theyre on a high-risk broker list.. Lawrence Labine of Newbridge Securities Corporation 1200 N Federal Hwy #400, Boca Raton, FL 33432. The lawsuit alleges medical malpractice and also [], The New Mexico governor signs a medical malpractice bill, Gov. Davis has been registered with Newbridge Securities Corporation in New York, New York since 2006. . Founded in 2000 and headquartered in Boca Raton, Florida, Newbridge Securities is a full-service brokerage firm. June 2016 - FINRA censured and fined the firm $115,000 after allegations that it failed to apply sales charge discounts to certain investors eligible investments in unit investment trust products (UITs). Thomas John Avery at NEWBRIDGE SECURITIES CORPORATION - View Complaints 0. Beginning 2017, FINRA announced the prioritization of action to keep track of recidivist/ high-risk brokers. Do you have a complaint about Newbridge Securities? "I spoke to Mr Sonn on a complex legal matter. Contact me online or call anytime at 844-689-5754, What current and prospective clients should know about complaints and regulatory actions against Newbridge Securities. The extravagant claims should be a red flag that the broker is a scam. Numerous customer complaints, including those involving three retired Philadelphia police officers and a firefighter, were reportedly filed against Newbridge alleging that their financial advisor. Newbridge Securities Review: Lawsuits, Regulatory Issues, And Broker There have been several cases in which advisors employed by Newbridge Securities engaged in fraudulent or negligent industry practices. 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. According to publicly available records Newbridge Securities Financial Advisor, Peter Goffin, Has Nine Customer Complaints. Its a significant improvement over the firms previous rankings, but our current measure still misses cases which have been expunged, McCann says. In June of 2016, FINRA fined Newbridge Securities $115,000 and ordered the firm to pay $188,803.99 in restitution to affected customers for failing to apply sales charge waivers to client accounts. Fagenson is no longer employed by Newbridge. From our primary office in South Florida, we protect investors nationwide. with clients. Newbridge Securities Corp., a mid-sized broker-dealer based in Boca Raton, FL with 33 regulatory event disclosures, has a history of compliance problems. At Broker Complaint Registry it's our job to make sure you can fight back and get your money refunded. No filing fees. 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. Davis has been the subject of eight customer complaints between 1997 and 2018, one of which . While Finra has admitted it has ranked all 634,000 of the brokers it oversees since 2015, it continues to decline to release bigger-picture complaint and disciplinary data on firms to the industry or consumer groups.