Nabil Bouab (also known as Bilo Bouab), of Holbrook, New York, a stockbroker registered with American Portfolios Financial Services Inc., is the subject of a customer initiated investment related FINRA securities arbitration claim in which the customer requested $350,000.00 in damages based upon allegations that Bouab engaged in unsuitable trading, mismanaged investment accounts, made misrepresentations and omissions of material fact, breached his fiduciary duties, breached a contract, was negligent, and violated federal securities laws in connection with the sale of special purpose acquisition companies (SPACs) when Bouab was registered with American Portfolios Financial Services Inc. Financial Industry Regulatory Authority (FINRA) Arbitration No. 23-00209 (January 25, 2023). The claim alleges that the securities broker dealer failed to supervise Bouab’s activities.
This is not the first time that Bouab has been referenced in a customer initiated investment related dispute concerning Bouab’s conduct in the securities industry. FINRA Public Disclosure shows that Bouab is also referenced in a customer initiated investment related complaint filed on October 20, 2022, in which the customer requested compensatory damages based upon allegations that Bouab recommended investments which poorly performed. The customer withdrew this complaint.
On November 7, 2022, a American Portfolios Financial Services Inc. customer filed an investment related FINRA securities arbitration claim involving Bouab’s conduct in which the customer requested $776,000.00 in damages based upon allegations that Bouab breached a contract, breached his fiduciary duties, was negligent, made misrepresentations and omissions of material fact, violated FINRA rules, and violated federal securities laws in connection with the sale of special purpose acquisition companies. FINRA Arbitration No. 22-02410.
Public Disclosure also shows that Bouab has been fined $5,000.00 and suspended for twenty days from associating with any FINRA member in any capacity because Bouab impersonated a customer. Letter of Acceptance, Waiver, and Consent No. 2013037548401 (June 3, 2015).
Bouab was registered with American Portfolios Financial Services Inc. as a stockbroker and investment advisor representative between July 26, 2013, and November 1, 2022. He has been registered with Garden State Securities as a stockbroker since October 31, 2022, and registered with Garden State Investment Advisory Services LLC as an investment advisor representative since November 1, 2022.
