Stephen James Sullivan of New York New York a stockbroker employed by Newbridge Securities Corporation is referenced in a customer initiated investment related arbitration claim in which the customer sought $540,618.00 in damages founded on allegations that (1) trades had been executed in the customer’s account in excessive amounts (2) transactions were not suitable for the customer and (3) Newbridge Securities Corporation failed to supervise Sullivan’s activities causing the customer to experience unwarranted losses. Financial Industry Regulatory Authority (FINRA) Arbitration No. 18-01444 (May 7, 2018).
This is not the first time Sullivan has been subject of a customer dispute concerning his alleged misconduct. A customer filed an investment related complaint concerning Sullivan’s activities where the customer requested $27,592.10 in damages based upon accusations that unauthorized trades were executed in the customer’s account when Sullivan had been employed by First Midwest Securities Inc.
FINRA Public Disclosure reveals that Sullivan has been fined $5,000.00 and suspended from associating with any FINRA member in any capacity based upon findings that he engaged in unauthorized trades in customer accounts while registered with First Midwest; conduct violative of FINRA Rule 2010 and National Association Securities Dealers (NASD) Rule 2510(b). Letter of Acceptance Waiver and Consent No. 2014039219802 (Feb. 3, 2016).
Sullivan’s registration with Newbridge Securities Corporation was terminated on November 22, 2017. Between November 29, 2017 and May 8, 2018, he was registered with Worden Capital Management LLC. On May 8, 2018, he became associated with SW Financial. Since July 18, 2012, Sullivan has been associated with fifteen broker dealers, nine of which have been expelled by securities regulators for violation of federal securities laws or are otherwise defunct.
