Steven Michael Wisniewski, of Boca Raton, Florida, a stockbroker formerly registered with Newbridge Securities Corporation, has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that Wisniewski never corresponded with FINRA regarding his compliance with the terms of a customer initiated investment related dispute settlement or arbitration award. Case No. 16-02282 (Apr. 13, 2017).
This is not the first time that Wisniewski was sanctioned by FINRA for misconduct. Particularly, on August 5, 2016, Wisniewski was fined $5,000.00 and suspended for three months by FINRA staff based upon his consent to findings that while associated with Cambridge Investment Research, Inc., he forged a customer’s initials on annuity transfer forms and forged the customer’s signature on account documentation without the customer’s authorization. Letter of Acceptance, Waiver and Consent, No. 2015044110101 (Aug. 5, 2016). FINRA found Wisniewski’s conduct to be violative of FINRA Rule 2010.
FINRA Public Disclosure also reveals that on July 26, 2016, a customer initiated investment related arbitration claim involving Wisniewski’s conduct was settled for $25,000.00 in damages based upon allegations that he defrauded the customer, negligently handled the customer’s investment account, engaged in forgery, made misrepresentations to the customer, placed trades without authorization, and churned the customer’s account in reference to real estate securities, mutual funds, stocks, over-the-counter equities, as well as municipal and corporate debt transactions that had been effected in the customer’s account.
Wisniewski’s registration with Newbridge Securities Corporation was terminated on December 23, 2016. Since February 4, 1991, he has been associated with ten different broker dealers, six of which have been expelled by securities regulators for violation of federal securities laws or are otherwise defunct. #cockroach
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