Edward Joseph McMahon, of Red Bank, New Jersey, a stockbroker formerly associated with Alexander Capital L.P., has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because McMahon failed to respond to FINRA requests for information. Case No. 2020066786001 (February 21, 2023).
According to FINRA, Edward McMahon did not request termination of his suspension within three months from the date of the Notice of Suspension FINRA issued to him. Therefore, he is automatically barred. Initially, McMahon was suspended starting December 12, 2022, through February 20, 2023.
Public Disclosure also shows that on September 13, 2008, a customer initiated an investment related NASD securities arbitration claim involving McMahon’s conduct was settled for $33,000.00 in damages based upon allegations that McMahon failed to execute transactions during the time that McMahon was associated with Sky Capital LLC. NASD Arbitration No. 06-04242.
Sky Capital Group, L.L.C., and more specifically its founder, owner and Chief Executive Officer Ross Mandel, was convicted for the violation of Section 17(a) of the Securities Act and Section 10(b) of the Exchange Act for fraud in connection with the sale of the securities, totaling approximately $61.9 million to more than 370 investors, as the registered principal of Sky Capital. United States v. Mandell, et al., 09-cr-662 (S.D.N.Y.); Securities and Exchange Commission v. Mandell, et al., 09-cv-6129 (PAC)(S.D.N.Y. July 8, 2009).
McMahon was associated with Alexander Capital L.P. in Red Bank, New Jersey from May 20, 2014, to September 29, 2022.