Abdul Matin Rahmani of Mineola, New York, a stockbroker formerly registered with SW Financial, has been discharged by the firm on December 15, 2017 founded on allegations that he engaged in outside business activities in violation of both the firm’s policy and FINRA Rule 3270.
SW Financial alleged that without the firm’s permission, Rahmani enlisted a sales associate and one of the firm’s registered representatives to assist Rahmani in the establishment of his outside business. SW Financial contended that the sales associate and Rahmani then furnished account transfer documentation to customers of SW Financial whose accounts had been serviced by Rahmani and another SW registered representative, all in an apparent attempt to get customers to transition their accounts to Rahmani’s outside business.
SW further claimed that Rahmani utilized unauthorized communication vehicles to interact with customers, contacting them through the outside business’s e-mail address. Additionally, documentation was seemingly disseminated to customers that contained their financial status, social security numbers and addresses. Rahmani also purportedly furnished a customer’s banking information and account documentation to an unauthorized recipient. SW alleged that Rahmani’s conduct in this regard violated the privacy policy of the firm as well as Regulation S-P.
This is not the first time that Rahmani has been terminated by a brokerage firm employer based upon accusations of misconduct. Particularly, on March 14, 2003, Rahmani was terminated by previous employer, MetLife, supported by allegations that he committed infractions of the firm’s policies by engaging in forgery and alteration of documentation submitted to the firm.
Then, on April 23, 2013, Rahmani was discharged by MML Investors Services, LLC based upon accusations that he violated the firm’s policy by engaging in unauthorized outside business activities during the time that he was placed on heightened supervision.
Since June 1, 2018, Rahmani has been associated with Joseph Stone Capital L.L.C.
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