Jeffrey Allen Baber of Red Bank New Jersey a stockbroker formerly registered with First Standard Financial Company LLC is referenced in a customer initiated investment related FINRA securities arbitration claim in which the customer requested $95,000.00 in damages founded on accusations of unsuitable transactions being effected in the customer’s account and First Standard Financial Company failing to supervise Baber’s activities. Financial Industry Regulatory Authority (FINRA) Arbitration No. 21-00005 (Mar. 25, 2021). The claim alleges that Baber’s negligence relating to stock transactions and margin use resulted in damages.
FINRA Public Disclosure confirms that Baber has been identified in three additional customer initiated investment related disputes regarding allegations of his improper actions when employed by First Standard Financial Company, National Securities Corporation and Oppenheimer. On February 15, 2019, a customer filed an investment related FINRA securities arbitration claim involving Baber’s conduct where the customer sought $668,000.00 in damages based on accusations that Baber executed unauthorized and unsuitable stock trades in the customer’s account. FINRA Arbitration No. 19-00431.
Baber is also the subject of a customer initiated investment related FINRA securities arbitration claim in which the customer requested $2,000,000.00 in damages supported by allegations of Baber’s excessive trading and unsuitable stock transactions during the time that he was associated with First Standard Financial Company. FINRA Arbitration No. 19-00737 (Apr. 8, 2019).
On December 26, 2019, another customer filed an investment related FINRA securities arbitration claim regarding Baber’s activities where the customer sought compensatory damages founded on accusations of First Standard Financial Company failing to supervise the stockbroker resulting in unsuitable stock transactions in the customer’s account. FINRA Arbitration No. 19-00550 (Dec. 26, 2019). According to the claim, a contract between the customer and the securities broker dealer was breached. The claim also contains allegations of a breach of fiduciary duty resulting in damages to the customer.
Baber was registered as a stockbroker of First Standard Financial Company between January 2, 2018 and June 7, 2019. He was also registered as an investment adviser representative of First Standard Financial Advisory between September 4, 2018 and July 2, 2019. Since July 10, 2019, Baber has been both a stockbroker of Newbridge Securities Corporation and an investment adviser representative of Newbridge Financial Services Group Inc.
