Joshua David Arnold (also known as Josh Arnold) of Edina Minnesota a stockbroker formerly registered with TradingBlock (also known as AOS Inc. and MoneyBlock) is referenced in a customer initiated investment related written complaint which was resolved for $64,500.00 on October 17, 2017 founded on accusations that the customer suffered unwarranted losses on common or preferred stock trades placed in the customer’s account while Arnold was associated with AOS Inc.
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Arnold is referenced in ten more customer initiated investment related disputes pertaining to allegations of Arnold’s violative conduct during the time that he was associated with AOS Inc., BrokersExpress LLC, and Linsco / Private Ledger Corp. Particularly, a customer initiated investment related complaint involving Arnold’s conduct was settled for $10,000.00 in damages based upon accusations that while Arnold was associated with BrokersExpress LLC, the customer was charged excessive fees on investments held in the customer’s account.
On December 17, 2014, another customer filed an investment related complaint concerning Arnold’s conduct in which the customer requested $18,000.00 in damages supported by allegations that while Arnold was associated with MoneyBlock, the customer was placed in inappropriate equity investments which caused the customer to incur losses. Thereafter, a customer initiated investment related arbitration claim involving Arnold’s activities was resolved for $37,500.00 in damages founded on accusations of the mishandling of the customer’s investment account causing the customer to incur losses and undue tax penalties. FINRA Arbitration No. 15-02891 (Sept. 21, 2016).
Subsequently, a customer initiated investment related arbitration claim concerning Arnold’s conduct was settled for $145,000.00 in damages based upon allegations that contractual obligations to the customer had been breached; fiduciary duties owed to the customer were violated; the firm failed to supervise the trades placed in the customer’s investment account; investment recommendations made to the customer were not suitable; and the customer’s account was handled in a negligent manner. FINRA Arbitration No. 16-02664 (Nov. 28, 2017).
FINRA Public Disclosure confirms that Arnold has been sanctioned by securities regulators on three occasions based upon allegations of Arnold’s misconduct in the securities industry. For example, Arnold has been fined $7,500.00 and suspended from associating with any National Association of Securities Dealers (NASD) member in any capacity based upon consenting to findings that while Arnold was associated with SunPoint Securities Inc., Arnold made unsuitable investment recommendations to customers given the nature of the securities involved, trading frequency, resources of investors, and customers’ objectives for investing. Letter of Acceptance Waiver and Consent No. C04000003. NASD found Arnold’s conduct violative of NASD Rules 2310 and 2110.
Arnold’s registration with TradingBlock has been terminated as of December 20, 2016.
