Geoffrey Scott Cambal of West Yarmouth Massachusetts a stockbroker registered with NBC Securities Inc. has been ordered by the Massachusetts Securities Division to be placed on heightened supervision as a condition of registering with the firm based upon findings that Cambal has been subject of six complaints that alleged sales practice violations including (1) unauthorized trading (2) unsuitable investment recommendations and (3) excessive trading. Case No. R-2015-115 (Sept. 18, 2015).
Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that Cambal has been identified in five customer initiated investment related disputes containing accusations of his violative conduct during the time that he was associated with JHS Capital Advisors, FBC Capital Markets, LLC and Legg Mason Wood Walker, Inc. Specifically, on May 2, 2002, a customer initiated investment related complaint regarding Cambal’s activities was resolved for $17,500.00 in damages supported by allegations that unsuitable investment recommendations were made to the customer concerning over-the-counter equities.
On December 3, 2008, another customer filed an investment related complaint concerning Cambal’s conduct in which the customer sought $53,344.00 in damages based upon accusations that transactions had been effected in the customer’s account that were neither authorized nor suitable. Thereafter, a customer initiated investment related arbitration claim regarding Cambal’s conduct was settled for $65,000 in damages founded on allegations that penny stock and over-the-counter equities transactions were executed in the customer’s account that were not suitable for the customer. FINRA Arbitration No. 12-02947 (Jan. 3, 2014).
Subsequently, a customer initiated investment related arbitration claim concerning Cambal’s activities was resolved for $41,000.00 in damages supported by accusations that the customer’s account had been over-concentrated in inappropriate stocks. FINRA Arbitration No. 13-00102 (Jan. 14, 2014). Another customer initiated investment related arbitration claim involving Cambal’s conduct was settled for $24,999.00 in damages based upon allegations that equity transactions were effected in the customer’s account that were not suitable for the customer. FINRA Arbitration No. 15-00504 (May 1, 2015).
Cambal’s registration with NBC Securities, Inc. has been terminated as of July 23, 2018. Since July 25, 2018, he has been employed by Newbridge Securities Corporation.
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