Securities Lawyers Blog
According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Ross Barish (Barish), previously associated with Joseph Stone Capital L.l.c., has at least 2 disclosable events. These events include one customer complaint, one regulatory event, alleging that Barish recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.
FINRA BrokerCheck shows a final customer complaint on August 11, 2022.
The Securities and Exchange Commission (‘Commission’) deems it appropriate and in the public interest that public administrative proceedings be, and hereby are, instituted pursuant to Section 15(b) of the Securities Exchange Act of 1934 (‘Exchange Act’) against Ross Barish (‘Respondent’). The Commission finds that on August 10, 2022, a final judgment was entered by consent against Barish permanently enjoining him from future violations of Section 17(a) of the Securities Act of 1933 and Exchange Act Section 10(b) and Rule 10b-5 thereunder, in the civil action entitled Securities and Exchange Commission v. Ross Barish, 20 Civ. 6437 (JPC), in the United States District Court for the Southern District of New York. The Commission’s complaint alleged that, from 2014 through July 2019, Barish recommended to customers a pattern of high cost, in-and-out trading without any reasonable basis to believe that his recommendations were suitable for anyone. The complaint alleged Barish’s recommendations resulted in losses for the customers and ill-gotten gains for Barish. The complaint also alleged that Barish concealed material information from and made material misrepresentations to his customers, and that Barish engaged in unauthorized trading in customer accounts.