David Martin Martirosian of New York, New York, a stockbroker formerly registered with Joseph Stone Capital LLC, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because Martirosian failed to cooperate with FINRA in an investigation relating to excessive and unsuitable trading and selling away while registered with Joseph Stone Capital LLC. Letter of Acceptance, Waiver, and Consent No. 2019063251701 (April 26, 2021).
According to the AWC, Martirosian was investigated by FINRA for possible excessive and unsuitable trading and his involvement in an undisclosed private securities transaction during the time he was associated with Joseph Stone Capital LLC. On March 22, 2021, regarding FINRA’s investigation, Martirosian was sent a request by FINRA for the production of documents and information. Through his counsel, Martirosian indicated that he had received the request but would not produce the requested documents or information. FINRA found that Martirosian violated FINRA Rules 2010 and 8210.
FINRA Public Disclosure shows that Martirosian is referenced in three total customer initiated investment related disputes concerning Martirosian’s conduct while associated with securities broker dealers, including Joseph Stone Capital LLC and Legend Securities. Martirosian is referenced in a customer initiated investment related complaint on October 13, 2010, in which the customer requested $7,500.00 in damages based upon allegations that Martirosian inappropriately handled the customer’s account when Martirosian was associated with John Thomas Financial.
On June 11, 2015, another customer filed an investment related complaint involving Martirosian’s conduct in which the customer requested compensatory damages based upon allegations that Martirosian made unauthorized transactions in connection with the recommendation and sale of equities when Martirosian was associated with Legend Securities.
On December 14, 2018, another complaint involving Martirosian’s conduct was settled for $39,077.15 in damages based upon allegations that Martirosian made an unauthorized equities transaction when Martirosian was associated with Joseph Stone Capital LLC.
Martirosian was associated with Joseph Stone Capital LLC from 2016 to 2021, Spartan Capital Securities LLC from 2016 to 2016, and Caldwell International Securities in 2015.
