Securities Lawyers Blog
Our securities fraud attorneys are investigating customer complaints filed with The Financial Industry Regulatory Authority (FINRA) against David Fagenson (Fagenson) currently associated with Newbridge Securities Corporation (Newbridge) alleging Fagenson engaged in a number of securities law violations including that the broker made unsuitable investments and unauthorized trading among other claims. According to BrokerCheck, Fagenson currently has nine customer complaints, one criminal matter, two regulatory actions, and one employment termination for cause.
In September 2016 UBS terminated Fagenson after a review found that while on heightened supervision Fagenson violated firm policy by exercising time and price discretion, texting with clients and engaging in short term trading of preferred shares. Also in September 2016 a customer alleged that from 2013 through 2016 that Fagenson engaged in unauthorized trading and gave stop loss orders that were not entered. The complaint is currently pending.
In April 2011 Fagenson was sanctioned by the state of Florida for failing to disclose a criminal matter on his record that was required to be disclosed.