David Oscar Braeger, of New York, New York, a stockbroker registered with Newport Coast Securities, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon an Office of Hearing Officers Extended Hearing Panel Decision containing findings that he made misrepresentations to customers concerning the status and value…
Newport Coast Securities, a broker-dealer headquartered in New York, New York, has been fined $1,000,000.00 and expelled from Financial Industry Regulatory Authority (FINRA) membership per an Extended Hearing Panel Decision in which Newport Coast Securities was found to have effected trades in customer accounts on a quantitatively unsuitable basis, churned customer accounts, made qualitatively unsuitable…
Douglas A. Leone, of Dix Hills, New York, a stockbroker formerly registered with Newport Coast Securities, has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity per a FINRA Extended Hearing Panel Decision containing findings that Leone churned customer accounts and effected unsuitable trades. Department of Enforcement…
David M. Levy, of West Palm Beach, Florida, a stockbroker formerly registered with Newport Coast Securities, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity per a FINRA Office of Hearing Officers’ Default Decision containing findings that Levy effected unsuitable trades and churned customer accounts, made recommendations…
David M. Levy, of West Palm Beach, Florida, a stockbroker with Newport Coast Securities, is currently subject to a pending customer dispute. Particularly, on November 3, 2014, a customer requested $60,000.00 in damages in connection with allegations against Levy of churning the customer’s investment account. FINRA’s BrokerCheck reveals that Levy has been subject to thirteen…
Donald A. Bartelt, of Cave Creek, Arizona, is currently subject to a pending customer dispute from May 28, 2013, in which the customer requested $113,000.00 in damages in connection with allegations against Bartelt of engaging in misconduct over several years in the customer’s investment account. Public Disclosure records reveal that Bartelt has previously settled a…
George Dahl, of New York, New York, a stockbroker with Newport Coast Securities, was fined $20,000.00 and suspended for nine months from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that he engaged in unauthorized outside business activities; placed unauthorized trades in a customer’s account; and…
Marc A. Arena of Westbury, New York, a stockbroker with Newport Coast Securities, Inc., was suspended for twenty-three months from associating with any Financial Industry Regulatory Authority (FINRA) member firm in a principal capacity, while being suspended for ten business days from association with any FINRA member firm in any capacity per an Order Accepting…
Aaron Heimowitz, a Stockbroker with Newport Coast Securities, was suspended from association with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity for a period of seven months and fined $15,000 after consenting to findings that Heimowitz participated in private securities transactions and outside business activities in violation of firm policies. Letter of…
Roman Tyler Luckey of Irvine CA, a former registered principal with Newport Coast Securities, Inc., was fined $15,000 and suspended for practicing for 14 months by FINRA’s National Adjudicatory Council after consenting to FINRA sanctions and findings concerning Luckey’s failure to properly supervise his staff which led to his subordinates excessively trading and churning 24…