Andre Vincent LaBarbera, of Dix Hills, New York, a stockbroker registered with Titus Rockefeller LLC, has been sanctioned by Financial Industry Regulatory Authority (FINRA) based upon allegations that LaBarbera failed to comply with an arbitration award or otherwise confirm compliance with the regulator. FINRA Arbitration No. 18-04008 (August 20, 2021). LaBarbera was ordered to pay $858,123.60 in compensatory damages and $100,000.00 in punitive damages to a customer for sales practice violations. The Statement of Claim alleged churning, unauthorized trading, breach of fiduciary duty, breach of contract, and fraud.
FINRA already barred LaBarbera from associating with any FINRA member in any capacity because LaBarbera churned a customer’s account and made unsuitable investment recommendations. Department of Enforcement v. Andrew Vincent LaBarbera, NAC Decision, Disciplinary Proceeding No. 2012030564701 (May 23, 2018). LaBarbera violated FINRA Rules 2010 and 2111.
LaBarbera has also been barred by Florida Office of Financial Regulation based upon allegations that LaBarbera made unsuitable recommendations, churned a customer’s account, and committed fraud. Florida Enforcement Action No. 71607-S (April 30, 2019).
FINRA Public Disclosure shows that LaBarbera is referenced in six customer initiated investment related disputes concerning LaBarbera’s conduct while associated with securities broker dealers, including Newport Coast Securities and Titus Rockefeller LLC.
On January 6, 2016, a FINRA securities arbitration claim involving LaBarbera’s conduct was settled for $2,500.00 in damages based upon allegations that LaBarbera made misrepresentations of material fact during the time that LaBarbera was associated with Newport Coast Securities. FINRA Arbitration No. 14-02532.
On February 15, 2020, a customer filed an investment related FINRA securities arbitration claim involving LaBarbera’s conduct in which the customer requested $23,783.00 in damages based upon allegations that LaBarbera made unsuitable recommendations, churned the customer’s account, breached his fiduciary duties, and made misrepresentations of material fact in connection with the recommendation and sale of over-the-counter equities during the time that LaBarbera was associated with Titus Rockefeller LLC. FINRA Arbitration No. 19-03517.
LaBarbera was associated with Titus Rockefeller LLC in Dix Hills, NY, from January of 2013 to May of 2018.
