Todd Joseph Henrich of Iselin New Jersey a stockbroker formerly employed by National Securities Corporation is the subject of a customer initiated investment related arbitration claim where the customer was awarded $14,441.79 in compensatory damages based upon Henrich being found liable on the customer’s claims of (1) misrepresentations concerning the terms or risks of investments sold to the customer (2) trades made in the customer’s account which conflicted with the customer’s tolerance for risk or other investment circumstances and (3) National Securities Corporation’s failure to supervise the stockbroker. FINRA Arbitration No. 18-03414 (Sept. 4, 2019).
Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that Henrich is referenced in two more customer initiated investment related disputes containing accusations of his violative conduct while employed by National Securities Corp. Specifically, on September 29, 2015, a customer initiated investment related arbitration claim concerning Henrich’s activities was settled for $26,000.00 in damages founded on allegations that misrepresentations had been made to the customer, fiduciary duties were violated, the customer’s account was poorly handled, and over-the-counter equities were excessively traded.
Another customer initiated investment related arbitration claim in regard to Henrich’s conduct was resolved for $25,000.00 in damages based upon accusations that false or misleading statements had been made concerning investments; fiduciary duties owed to the customer had not been complied with; over-the-counter equities and real estate security transactions were unsuitable for the customer; the investment account was administered negligently; and trades lacked the customer’s authorization. FINRA Arbitration No. 15-02835 (Mar. 2, 2016).
Henrich’s employment with National Securities Corporation has been terminated as of June 2, 2017.
