Securities Lawyers Blog
According to BrokerCheck records financial advisor Sam Aziz (Aziz), formerly employed by David A. Noyes & Co. (David Noyes) has been subject to at least three customer complaints, one regulatory investigation, and two terminations for cause. According to records kept by The Financial Industry Regulatory Authority (FINRA), most of Aziz’s customer complaints allege that Aziz made unsuitable recommendations in a variety of investments.
In October 2018 FINRA opened an investigation into Aziz’s activities. On October 24, 2018, FINRA made a preliminary determination to recommend that disciplinary action be brought against Aziz alleging that he made potential violations, specifically excessive trading and unsuitable recommendations of the use of margin), attempting to settle away a customer’s complaint), and use of an undisclosed personal email account and text messages to conduct securities business.
In October 2018 Aziz’s firm, David Noyes, terminated him citing the FINRA investigation as a reason.