Michael Fasciglione of Mineola New York a stockbroker formerly registered with National Securities Corporation is referenced in a customer initiated investment related FINRA securities arbitration claim which was resolved for $422,000.00 in damages supported by allegations of Fasciglione’s unsuitable transactions relating to a private placement when Fasciglione was associated with National Securities Corp. Financial Industry Regulatory Authority (FINRA) Arbitration No. 21-01568 (July 8, 2021).
FINRA Public Disclosure shows that Fasciglione has been identified in sixteen additional customer initiated investment related disputes containing accusations of his wrongdoing while employed by securities broker dealers including First Montauk Securities Corp, Josephthal Co. Inc., National Securities Corp and Aegis Capital Corp. Fasciglione is the subject of a customer initiated investment related FINRA securities arbitration claim which was resolved for $11,000.00 in damages based upon accusations that real estate security transactions effected in the customer’s National Securities Corp account were not suitable. FINRA Arbitration No. 19-03440 (May 15, 2020).
On December 15, 2020, another customer initiated investment related FINRA securities arbitration claim concerning Fasciglione’s conduct was settled for $30,566.00 in damages founded on allegations of breach of contract and breach of fiduciary duty relating to private placements. FINRA Arbitration No. 19-02874. The claim also alleges negligence and misrepresentation concerning those private placements.
On May 17, 2021, a different customer filed an investment related FINRA securities arbitration claim regarding Fasciglione’s activities where the customer sought $75,000.00 in damages supported by allegations of unsuitable real estate security and asset-backed debt securities transactions at National Securities Corp. FINRA Arbitration No. 21-01221.
Fasciglione is also referenced in a customer initiated investment related FINRA securities arbitration claim in which the customer requested $135,000.00 in damages founded on accusations of unsuitability relating to banking products and real estate security investments at National Securities Corp. FINRA Arbitration No. 21-01030 (June 5, 2021).
Fasciglione is the subject of a different customer initiated investment related FINRA securities arbitration claim where the customer sought compensatory damages supported by accusations that Fasciglione provided unsuitable recommendations to the customer in regard to a real estate security and banking product during the period that Fasciglione was associated with Aegis Capital Corp and National Securities Corp. FINRA Arbitration No. 21-01414 (June 14, 2021).
On July 12, 2021, an additional customer initiated investment related FINRA securities arbitration claim involving Fasciglione’s conduct was settled for $40,000.00 in damages based upon allegations of Fasciglione effecting an unsuitable real estate security transaction resulting in damages to the National Securities Corp customer. FINRA Arbitration No. 20-01111.
Fasciglione has been sanctioned twice by regulators. He was censured and barred as stockbroker for two months by New York Stock Exchange founded on findings of him failing to supervise, failing to make sure that changes to customer accounts were authorized, and failing to report a customer complaint. He was also fined $5,000.00 and suspended from associating with any FINRA member in any capacity based upon findings of Fasciglione failing to make required disclosures.
