Securities Arbitration Investment Fraud Lawyers » Investment and Regulatory News » Investors File $4.8 Million FINRA Arbitration Claim Against Empire Asset Management For Fraud

arbitration notice

Bernard F. Jasmin (also known as Berny Francis and Berny Jazz), of New York, NY, a stockbroker registered with Empire Asset Management Company, is the subject of a customer initiated investment related FINRA securities arbitration claim in which the customer requested $4,800,000.00 in damages based upon allegations that Jasmin committed fraud, churned the customer’s accounts, engaged in unauthorized trading, and charged excessive commissions in connection with the sale of derivatives and over-the-counter equities during the time that Jasmin was associated with Empire Asset Management Company. Financial Industry Regulatory Authority (FINRA) Arbitration No. 21-00936 (April 9, 2021).

FINRA Public Disclosure shows that Jasmin has been referenced in two other customer initiated investment related disputes concerning Jasmin’s conduct while associated with Aura Financial Services Inc. On July 16, 2007, an NASD securities arbitration claim involving Jasmin’s conduct was settled for $3,750.00 in damages based upon allegations that Jasmin made unsuitable recommendations of over-the-counter equities and churned the customer’s accounts. NASD Arbitration No. 07-00603.

Jasmin was also referenced in an NASD securities arbitration claim that was settled for $6,500.00 in damages based upon allegations that Jasmin engaged in unauthorized trading, made unsuitable recommendations, committed fraud, was negligent, breached his fiduciary duties, and breached a contract in connection with the sale of stocks, options, mutual funds, and municipal bonds. NASD Arbitration No. 07-00241 (August 30, 2007).

Jasmin was associated with PHX Financial Inc. in New York, NY, as a stockbroker from May of 2015 to December of 2019. Jasmin has been reassociated with PHX Financial Inc. in New York, NY, as a stockbroker since October 26, 2020.