Joseph Victor Alhadeff of New York, New York, a stockbroker formerly registered with National Securities Corporation, was the subject of a customer initiated investment related FINRA securities arbitration claim that was settled for $129,524.00 in damages based upon allegations that Alhadeff breached his fiduciary duties, and was otherwise negligent, in connection with the recommendation and sale of over-the-counter equities, common stocks and preferred stocks, and real estate securities when Alhadeff was associated with National Securities Corporation. FINRA Arbitration No. 19-01773 (January 28, 2021).
Financial Industry Regulatory Authority (FINRA) Public Disclosure shows that Alhadeff has been barred from associating with any FINRA member in any capacity in connection with the investigation of Alhadeff for the failure to supervise and the failure to provide information or documents to FINRA in connection with its investigation and the violations of FINRA rules. FINRA Enforcement (AWC) No. 2018057297101 (Nov. 27, 2020).
According to the AWC, in August 2017, FINRA initiated an investigation into a former National Securities Corporation registered representative who was supervised by Alhadeff during the time that Alhadeff was associated with National Securities. FINRA’s investigation included a review of Alhadeff’s supervision of the former National Securities representative. In connection with that investigation, FINRA sent Alhadeff a request for the production of documents and information on November 11, 2020. However, through his counsel, who is also coincidentally in-house counsel for National Securities, Alhadeff indicated that he received FINRA’s request but would not produce the requested documents and information. As a result, Alhadeff violated FINRA Rules 2010 and 8210.
Joseph Alhadeff was associated with National Securities Corporation from November 20, 2012 to December 31, 2018.
