newbridge securities corporation complaints

CERTAIN CUSTOMERS ELIGIBLE PURCHASES OF UNIT INVESTMENT TRUSTS (UITS).. 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). Matt 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. Instead, the regulator has created a special exam unit targeting high-risk brokers, said Susan Axelrod, Finras executive vice president for regulatory operations at the National Society of Compliance Professionals Conference in Washington, D.C., last week. Many investors (presumably, . We have over 50 years of experience and a 95% success rate. Newbridge appears to have developed a reputation for providing shelter to rogue brokers. 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. The Philadelphia Inquirer reports that on Tuesday, January 23, 2018, a jury for the Delaware County Court of Common Pleas determined that the young girl had received substandard care from Dr. Steven [], Effective new obesity drug poised to revolutionize weight loss treatment, As an increasing number of obese Americans seek Ozempic and Wegovy drugs promoted by celebrities and on TikTok as weight-loss aids a more potent obesity drug is poised to revolutionize treatment. Substantial doubt and ongoing concern was expressed by Liggett & Webb, the firm that audited its accounts, about its ability to stay in business. 0. NEWBRIDGE SECURITIES CORPORATION: Street Address: 1200 NORTH FEDERAL HIGHWAY: City: BOCA RATON: State: FL: Area Code: 33432: Brokers Background He entered the securities industry in 1999 and previously worked for Intercarolina Financial Services, Inc.; Principal Securities, Inc.; WR Rice Financial Services, Inc.; GWN Securities, Inc.; Lincoln Investment; Waddell & Reed, Inc.; and Dean Witter Reynolds, Inc. Current And [], Miche Jean (CRD#: 5918186) is a previously registered Broker and Investment Adviser. allegedly SUBMITT[ING] UNAUTHORIZED PROXY VOTES ON BEHALF OF ITS CLIENTS., Also in 2016, Newbridge was fined There have been several cases of registered representatives employed by Newbridge who were involved in broker misconduct and fraudulent activities. 76 percent of the customer complaints still pending against Newbridge Securities LLC came from equities, SLCG found. 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. The recent complaints/lawsuits against Newbridge are the result of GWG Holdings L Bonds, GPB Capital, and other non-traded investments. The White Law Group is a national securities arbitration, securities fraud, and investor protection law firm with offices in Chicago, Illinois. It also has the unfortunate distinction of a large number of regulatory cases filed against it. Wednesday January 20, 2021 7:48 AM EST. is_confirmation;var mt = parseInt(jQuery('html').css('margin-top'), 10) + parseInt(jQuery('body').css('margin-top'), 10) + 100;if(is_form){jQuery('#gform_wrapper_1').html(form_content.html());if(form_content.hasClass('gform_validation_error')){jQuery('#gform_wrapper_1').addClass('gform_validation_error');} else {jQuery('#gform_wrapper_1').removeClass('gform_validation_error');}setTimeout( function() { /* delay the scroll by 50 milliseconds to fix a bug in chrome */ }, 50 );if(window['gformInitDatepicker']) {gformInitDatepicker();}if(window['gformInitPriceFields']) {gformInitPriceFields();}var current_page = jQuery('#gform_source_page_number_1').val();gformInitSpinner( 1, 'https://8zle54.p3cdn1.secureserver.net/wp-content/plugins/gravityforms/images/spinner.svg', true );jQuery(document).trigger('gform_page_loaded', [1, current_page]);window['gf_submitting_1'] = false;}else if(!is_redirect){var confirmation_content = jQuery(this).contents().find('.GF_AJAX_POSTBACK').html();if(!confirmation_content){confirmation_content = contents;}setTimeout(function(){jQuery('#gform_wrapper_1').replaceWith(confirmation_content);jQuery(document).trigger('gform_confirmation_loaded', [1]);window['gf_submitting_1'] = false;wp.a11y.speak(jQuery('#gform_confirmation_message_1').text());}, 50);}else{jQuery('#gform_1').append(contents);if(window['gformRedirect']) {gformRedirect();}}jQuery(document).trigger('gform_post_render', [1, current_page]);} );} ); In March of 2019, a Newbridge Securities customer filed a FINRA arbitration complaint, alleging that the broker-dealer: The underlying allegations in this case relate to significant investment losses sustained in non-traded real estate investment trust (REIT) offered by GPB Capital a company that is now being investigated for making material misrepresentations to investors and engaging in improper accounting practices. Newbridge Securities Corporation financial advisor Dana Davis (CRD# 1707708) is accused of unsuitable investment recommendations and excessive trading. The worst firms are more than five times as likely to have customer complaints over illiquid investments (30 percent) as all firms (1.16 percent), despite illiquid securities such as variable and indexed annuities, non-traded REITs, oil and gas products, equipment leasing, direct participation products (DPP) and other private placements. Newbridge Securities Corporation Broker Misconduct. To send us an e-mail, simply complete and submit the online form below. & Assoc., Inc. Here, our experienced securities fraud attorneys highlight some notable allegations of misconduct that have been brought against this firm. 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. . Fagenson is no longer employed by Newbridge. 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. When brokers violate securities laws, such as making unsuitable investments, the brokerage firm they are working with may be liable for investment losses through. document.getElementById( "ak_js_2" ).setAttribute( "value", ( new Date() ).getTime() ); *Our firm, in some cases, advance costs and expenses of the case, and in that event, are recovered from the gross recovery of any settlement or verdict. Newbridge representatives sold approximately $323,000 in LJM to customers. Brokers who have lost money after working with Newbridge Securities Corporation should keep reading . Newbridge was censured and issued a fine of $138,000. Customers have alleged that the true risks of the bonds were not represented and not suitable. Investors are now concerned about the condition of these investments and the potential loss of principal after GWG sold L Bonds valued at billions of dollars over the course of several years. 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. Brief and amiable onboarding is the first thing a new user sees in the theme. In August 2010, FINRA found that Newbridge Securities was guilty of facilitating the manipulation of trades, a direct violation of SEC Rule 10b-5. 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. Brokers and financial advisors may commit investment or securities fraud in an effort to control the market, gain business, or maximize commissions. During an extreme volatility event, LJMs value dropped 80% in February 2018 causing the fund to liquidate and close, resulting in thousands of dollars in losses for Newbridges customers. November 2017 Numerous customer complaints, including those involving three retired Philadelphia police officers and a firefighter, were reportedly filed against Newbridge alleging that their financial advisor, Austin Dutton, did not properly warn them of the risks involved with the recommended investments. Investigation of Newbridge Securities Corporation Broker Jeffrey Eglow All broker-dealers have a responsibility to adequately supervise its employees. . Numerous customer complaints, including those involving three retired Philadelphia police officers and a firefighter, were reportedly filed against Newbridge alleging that their financial advisor. Financial Industry Regulatory Authority records show that he is a broker with Newbridge Securities Corporation, doing business as Orion Wealth Management. 0 . Member FINRA/SIPC, Steven Perlstein Joins Newbridge Financial, Inc. as its Vice President of Business Development for Digital Products and Services, Newbridge Securities Corporation Hires Sonni Johnson to Head its Business Development/National Recruiting Initiatives, NFSG Promotes Jennifer Dorfman as CCO of its RIA, Newbridge Securities Corporation Hires Peter Czarnomski to Head Customer Service Group, Newbridge Securities Corporation Recruits Chad Champion, Managing Director, Head of Equity Capital Markets, B. Riley Financial Announces Offering of $100 Million Senior Notes Due 2028 and "BBB+" Rating from Egan-Jones.

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