Steven LaMar Nielsen, of Gilbert, Arizona, a stockbroker formerly registered with DFPG Investments, Inc., is the subject of a customer initiated investment related complaint, which settled on July 6, 2017, for $4,500.00 in damages grounded on allegations that Nielsen effected unsuitable transactions in the customer’s account, and churned the customer’s investment portfolio of mutual funds, stock, government and corporate debt investments.
Financial Industry Regulatory Authority (FINRA) Public Disclosure also reveals that on June 6, 2016, a customer initiated investment related arbitration claim involving Nielsen’s conduct was settled for $30,000.00 in damages, where the customer’s claim was rooted in allegations that while associated with SII Investments, Inc., Nielsen effected the purchase of a variable annuity that was not suitable for the customer.
Nielsen has been terminated from a previous brokerage firm, Madison Avenue Securities, Inc., on December 31, 2013, based upon allegations that Nielsen used unauthorized means to correspond with customers, and disseminated investment marketing materials that were misleading.
Nielsen’s registration with DFPG Investments, Inc. ended on August 2, 2017. He became registered with Centaurus Financial, Inc. on August 7, 2017. Since May 25, 2000, Nielsen has been associated with ten different broker dealers, one of which has been expelled by securities regulators for violation of federal securities laws or is otherwise defunct.
Guiliano Law Group
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