John S. Galinksy of Chicago Illinois a stockbroker formerly registered with FinTegra LLC has been fined $7,500.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he disseminated unfair and unbalanced communications to investors concerning a private securities offering. Letter of Acceptance Waiver and Consent No. 2013037298901 (Apr. 13, 2018).
According to the AWC, Galinksy sent twenty-six e-mails to current and prospective customers in regard to a solar power company’s securities offering. Apparently, Galinksy failed to conduct any independent verification or otherwise properly state the terms and conditions of the securities offering so that it could be properly evaluated by customers. The e-mails reportedly contained omissions concerning the risks to investors, which prevented customers from being able to assess the investment opportunity. FINRA found that Galinksy’s communications were not fair or balanced; conduct violative of FINRA Rule 2010 and National Association of Securities Dealers (NASD) Rule 2210(d)(1)(A).
Moreover, Galinksy reportedly made omissions in an e-mail to a customer regarding the fact that the solar power company had been sued for patent infringement. FINRA found Galinksy’s omissions to be violative of FINRA Rule 2010 and NASD Rule 2110(d)(1)(B).
This is not the first time that Galinksy has been sanctioned by FINRA for misconduct. Particularly, on August 7, 2015, Galinksy was suspended from associating with any FINRA member in any capacity based upon accusations that he failed to cooperate with FINRA Arbitration No. 13-01265 (June 12, 2015), in which a customer was awarded $1,193,254.80 in compensatory damages based upon Galinksy having been found liable on the customer’s claims of negligence, breach of fiduciary duty, omissions, misrepresentations, due diligence, suitability and fraud.
Galinksy has been associated with First Dominion Capital Corp. since November 22, 2017.
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