arbitration notice

Frank Mastrosimone of Basking Ridge New Jersey a stockbroker formerly registered with Royal Alliance Associates is the subject of a customer initiated investment related FINRA securities arbitration claim in which the customer requested $100,000.00 in damages supported by accusations that they had been placed into an unsuitable private investment fund by Mastrosimone while he was associated with Royal Alliance Associates Inc.

Mastrosimone has been sanctioned twice by securities regulators. He was issued a Consent Order by the state of Vermont requiring him to disgorge gains and to refrain from soliciting customers based on allegations that he executed switches of long-held mutual funds in customer accounts. He was also fined and censured by National Association of Securities Dealers (NASD) founded upon accusations of him effecting unsuitable sales and purchases of securities.

Mastrosimone’s stockbroker and investment adviser registrations with Royal Alliance Associates have been terminated as of January 6, 2020. Since January 15, 2020, he has been registered with Pruco Securities LLC as a stockbroker. Since February 5, 2020, he has also been registered with Prudential Financial Planning Services as an investment adviser representative.