Guy Gregory Clemente, of New York, New York, a stockbroker formerly registered with Andrew Garrett Inc., is the subject of a customer initiated investment related Financial Industry Regulatory Authority (FINRA) securities arbitration claim in which the customer requested $750,000.00 in damages based upon alleged breach of contract, failure to supervise, excessive trading, unsuitable recommendations, and breach of fiduciary duty in connection with the sale of stocks and over-the-counter equities during the period that Clemente was associated with Andrew Garrett Inc. FINRA Arbitration No. 24-00071 (January 10, 2024).
FINRA Public Disclosure shows that Clemente has been referenced in six other customer initiated investment related disputes concerning Clemente’s conduct in the securities industry. Clemente was the subject of a customer initiated investment related NASD securities arbitration claim in which the customer was awarded $165,000.00 in compensatory damages because Commonwealth Associates was held liable for sales practice violations. NASD Arbitration No. 96-05220 (May 28, 1998). The Statement of Claim alleged unauthorized trading and misrepresentations of material fact in connection with the sale of equities.
On May 21, 1998, a securities arbitration claim involving Clemente’s conduct resulted in the customer being awarded $40,000.00 in compensatory damages because Commonwealth Associates was held liable for sales practice violations. NASD Arbitration No. 97-01462. The Statement of Claim alleged omissions and misrepresentations of material fact, negligence, and breach of contract in connection with the sale of over-the-counter equities when Clemente was associated with Commonwealth Associates.
Clemente was also the subject of a securities arbitration claim in which the customer was awarded $92,697.40 in compensatory damages because Clemente and The Thornwater Company L.P. were held jointly liable for sales practice violations. NASD Arbitration No. 00-04269 (October 27, 2003). The Statement of Claim alleged unauthorized trading, unsuitable recommendations, omissions and misrepresentations of material fact, breach of fiduciary duty, negligence, and fraud in connection with the sale of stocks during the time that Clemente was associated with The Thornwater Company L.P.
Clemente was associated with Andrew Garrett Inc. in New York, New York as an investment advisor representative from January 4, 2013, to January 3, 2024, and as a stockbroker from February 27, 2007, to January 2, 2024. On December 21, 2023, Andrew Garrett Inc. permitted Clemente to resign because of a customer complaint. The complaint prompted an internal review, which allegedly led to the securities broker dealer finding that Clemente violated its policies.
Clemente has been associated with Aegis Capital Corp. in New York, New York as a stockbroker since December 21, 2023. He has been associated with Aegis Capital Corp. in Whitestone, New York as an investment advisor representative since December 22, 2023.
