Securities Lawyers Blog
According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Alan Appelbaum (Appelbaum), previously associated with Aegis Capital Corp., has at least 3 disclosable events. These events include one customer complaint, 2 regulatory events, alleging that Appelbaum recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.
FINRA BrokerCheck shows a final customer complaint on December 07, 2023.
The Securities and Exchange Commission (‘Commission’) deems it appropriate and in the public interest that public administrative proceedings be, and hereby are, instituted Alan Z. Appelbaum (‘Respondent’). In anticipation of the institution of these proceedings, Respondent has submitted an Offer of Settlement (the ‘Offer’) which the Commission has determined to accept. The Commission finds that on November 14, 2023, a final judgment was entered, by consent, against Appelbaum, providing permanent injunctive relief under Section 17(a) of the Securities Act of 1933 (‘Securities Act’) and Section 10(b) of the Exchange Act and Rule 10b-5 thereunder, in the civil action entitled Securities and Exchange Commission v. Alan Z. Appelbaum, in the United States District Court for the Southern District of Florida. The Commission’s complaint filed in the above-referenced civil action alleged that, from July 2017 through May 2019, Appelbaum disregarded his obligations to seven customers and violated the antifraud provisions of the federal securities laws by making unsuitable investment recommendations. The complaint further alleged that Appelbaum engaged in unauthorized trading, also in violation of the antifraud provisions of the federal securities laws.
