Brandon Leon of New York, New York, a stockbroker registered with National Securities Corporation, was the subject of a customer initiated investment related FINRA securities arbitration claim in which the customer requested $336,700.00 in damages based upon allegations that Leon made unsuitable recommendations of private placements when Leon was associated with National Securities Corporation. Financial Industry Regulatory Authority (FINRA) Arbitration No. 22-01636 (July 22, 2022).
National Securities Corporation was a registered broker-dealer with one of its principal places of business at 200 Vesey Street, 25th Floor, New York, New York 10281. According to securities regulators, National had more than 577 registered representatives operating from more than 84 “franchise” branch offices across the United States. On June 23, 2022, National was fined $3.6 million, and was ordered to pay $4.77 million in restitution to certain customers in connection with the fraudulent sale of non-traded Real Estate Investment Trusts, and other securities, including GPB Capital Holdings, LLC., Department of Enforcement v. National Securities Corp., AWC No. 2019061652404 (June 23, 2022). On July 25, 2022, National ceased conducting business, and all, or substantially all of its assets, customer accounts, and registered represenatives were transferred en masse to B. Riley Wealth Management (CRD No. 25432).
This is not the first time that Leon has been referenced in a customer initiated investment related dispute concerning Leon’s conduct in the securities industry. FINRA Public Disclosure shows that Leon was also referenced in a customer initiated investment related complaint filed on March 6, 2017, in which the customer requested $200,000.00 in damages based upon allegations that Leon was negligent, engaged in unauthorized trading, made unsuitable recommendations, and breached his fiduciary duties in connection with the sale of stocks during the time that Leon was associated with National Securities Corporation.
Leon was associated with National Securities Corporation as a stockbroker between March 12, 2010, and June 3, 2022. He has been associated with PHX Financial Inc. since June 2, 2022.
