Joel Anthony Benanti, of Farmingdale, New York, a stockbroker formerly registered with Laidlaw and Company (UK) Ltd., has been named in a customer initiated investment related arbitration claim on July 19, 2016, in which the customer requested $22,269.00 in damages based upon allegations that between 2012 and 2013, Benanti effected unsuitable equity transactions in the customer’s account.
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Benanti has been identified in eight additional customer initiated investment related disputes containing allegations of Benanti’s misconduct while he was employed with EKN Financial Services, Inc. and Laidlaw and Company (UK) Ltd. Particularly, on May 17, 2011, a customer initiated investment related written complaint involving Benanti’s conduct was settled for $10,854.00 in damages based upon allegations that Benanti effected unauthorized stock trades in the customer’s account.
On April 30, 2011, a customer filed an investment related written complaint regarding Benanti’s actions, in which the customer requested $7,500.00 in damages based upon allegations that Benanti charged the customer with excessive commissions in equities transactions. Subsequently, on September 15, 2014, a customer was awarded $100,000.00 in damages according to an investment related arbitration claim involving Benanti’s misconduct, based upon allegations that Benanti effected unsuitable equities transactions, churned the customer’s account, and charged the customer with excessive commissions.
On August 17, 2011, another customer filed an investment related written complaint pertaining to Benanti’s actions, wherein the customer requested $18,000.00 in damages based upon allegations that Benanti effected unauthorized trades in the customer’s account, mismanaged the customer’s investments, and excessively charged the customer with markups in equity transactions. Further, on October 18, 2011, a customer filed an investment related written complaint involving Benanti’s conduct, in which the customer requested $216,635.00 in damages based upon allegations that Benanti placed trades in the customer’s account without authorization.
On August 22, 2014, another customer initiated investment related arbitration claim regarding Benanti’s conduct was settled for $7,000.00 in damages based upon allegations that Benanti utilized the customer’s margin in an unsuitable manner, churned the customer’s account, and made misrepresentations to the customer regarding equities.
Additionally, on January 20, 2016, a customer initiated investment related arbitration claim regarding Benanti’s activities was resolved for $46,000.00 in damages based upon allegations that Benanti effected equity transactions in the customer’s account which were not suitable, and churned the customer’s account. On July 2, 2015, another customer initiated investment related arbitration claim involving Benanti’s conduct was settled for $28,500.00 in damages based upon allegations that Benanti effected unsuitable transactions in the customer’s account and churned the customer’s account.
Benanti’s registration with Laidlaw & Company ended on February 26, 2016. From February 1, 2016 to May 27, 2016, Benanti was registered with First Standard Financial Company LLC. From August 2, 2016 to December 21, 2016, Benanti was registered with Salomon Whitney Financial, where he was terminated based upon allegations that Benanti took a $15,000.00 loan from the firm on false pretenses and failed to repay it. Beginning on December 6, 2016, Benanti has been registered with Joseph Stone Capital L.L.C.
Since October 30, 2000, Benanti has been associated with seven different broker dealers, five of which have been expelled by securities regulators for violation of federal securities laws or are otherwise defunct. #cockroach
Guiliano Law Group
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