Jeffrey Allen Baber of Red Bank New Jersey a stockbroker and investment adviser representative formerly registered with First Standard Financial Company is the subject of a customer initiated investment related arbitration claim in which the customer requested unspecified damages based upon allegations that unsuitable equities transactions had been executed by Baber at First Standard Financial Co. Financial Industry Regulatory Authority (FINRA) Arbitration No. 19-00550 (Dec. 26, 2019). According to the claim, there was a breach of contract and a breach of a fiduciary duty in regard to equities transactions which caused the customer losses. The claim alleges negligent retention and the failure to supervise by Baber.
FINRA Public Disclosure confirms that Baber has been identified in two additional customer initiated investment related disputes concerning accusations of his misconduct while employed by Oppenheimer, First Standard Financial Company and National Securities Corporation. On February 15, 2019, a customer filed an investment related arbitration claim concerning Baber’s activities where the customer sought $668,000.00 in damages founded on accusations that unsuitable equities transactions had been executed by the First Standard Financial Company stockbroker. FINRA Arbitration No. 19-00431. The claim also alleges that stock trades were made without the customer’s permission.
Baber has been referenced in a customer initiated investment related arbitration claim in which the customer requested $2,000,000.00 in damages supported by allegations that transactions were effected in the customer’s account on an excessive and unsuitable basis when Baber was employed by First Standard Financial Company. FINRA Arbitration No. 19-00737 (Apr. 8, 2019).
Baber’s employment with First Standard Financial Company was terminated on June 7, 2019 and his employment with First Standard Financial Advisory was terminated as of July 2, 2019. Since July 10, 2019, Baber has been registered with both Newbridge Securities Corporation and Newbridge Financial Services Group Inc.