James J. Mariani of Mineola New York a stockbroker formerly registered with National Securities Corp is referenced in a customer initiated investment related arbitration claim where the customer requested $432,020.69 in damages founded on allegations including (1) negligence (2) breach of fiduciary duty and (3) suitability relating to alternative investment transactions effected in the customer’s account. Financial Industry Regulatory Authority (FINRA) Arbitration No. 18-01146 (Apr. 3, 2018).
FINRA Public Disclosure confirms that Mariani is referenced in five more customer initiated investment related disputes pertaining to accusations of his misconduct while employed with National Securities Corp, First Montauk Securities Corp and Josephthal & Co. Particularly, a customer initiated investment related arbitration claim involving Mariani’s conduct was resolved for $75,175.00 in damages based upon allegations that unauthorized trades were executed in the customer’s account, margin was utilized without the customer’s permission and the customer’s mutual fund portfolio was churned.
On December 3, 2002, another customer filed an investment related complaint regarding Mariani’s conduct in which the customer sought $25,000.00 in damages supported by accusations that Mariani placed stock transactions in the customer’s account that were not suitable for the customer. Thereafter, a customer initiated investment related arbitration claim concerning Mariani’s activities was settled for $15,000.00 in damages founded on allegations that the customer’s account was negligently serviced, contractual and fiduciary duties had been breached, and the customer had been defrauded in reference to the customer’s 1031 Exchange private placement transactions. FINRA Arbitration No. 08-04146 (Mar. 31, 2010).
Subsequently, a customer initiated investment related arbitration claim involving Mariani’s conduct was resolved for $150,000.00 in damages based upon accusations including negligence, suitability, excessive trading, breach of contract and fraud in reference to over-the-counter equities transactions executed in the customer’s account. FINRA Arbitration No. 08-02003 (Aug. 6, 2009). On November 10, 2011, a customer filed an investment related complaint involving Mariani’s activities where the customer requested $100,000.00 in damages supported by allegations that Mariani poorly advised the customer about private placements.
Moreover, Mariani has been fined $15,000.00 and suspended from associating with any National Association of Securities Dealers (NASD) member in any capacity based upon consenting to findings that he made margin-based investment recommendations that were not suitable given the customer’s needs, objectives for investing and financial status; conduct violative of NASD Conduct Rules 2110 and 2310. Letter of Acceptance Waiver and Consent No. C10050025 (May 2, 2005).
Mariani’s registration with National Securities Corporation has been terminated as of September 29, 2017. Since September 6, 2017, he has been employed by Aegis Capital Corp.
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