New Jersey Broker David Seigerman is Permanently Barred by FINRA

Failure to respond to agency request ends Seigerman’s securities industry career

According to the Financial Industry Regulatory Authority (FINRA), New Jersey-based broker David Seigerman failed to respond to the agency’s request for information and a result has been permanently barred from acting as a broker or otherwise associating with firms that sell securities to the public.

Working as a broker in the securities industry for twenty years, customer complaints about Seigerman’s performance began in 2007. Since then, there have been five customer disputes filed against him, according to his FINRA BrokerCheck report. Damage amounts requested against Seigerman exceed $1.3 million from customers claiming he engaged in unauthorized trading, breach of fiduciary duty, and unsuitability, among other allegations.

In April 2016, FINRA delivered the first blow to Seigerman in the form of a suspension. In July 2016, after Seigerman failed to respond to a FINRA request for information, the regulatory body permanently barred the broker, thus ending his securities industry career.

Prior to his employment with Janney Montgomery Scott LLC in Bedminster, NJ from July 2013 to March 2016, Seigerman was previously employed by a number of firms, most recently:

• Morgan Stanley in Florham Park, NJ from June 2009 to August 2013

• Citigroup Global Markets Inc. in Florham Park, NJ from August 2006 to June 2009

• Morgan Stanley DW Inc. in Miami, FL from December 1999 to August 2006

If you lost money while investing with David Seigerman, you may be entitled to reclaim some or all of your losses. Reach out to the Silver Law Group today to learn about your options. Scott Silver is the current chair of the American Trial Lawyers Association Securities and Financial Fraud Group, and the attorneys at Silver Law Group are leaders in the field of securities arbitration. We represent individual and institutional investors across the United States who have lost money at the hands of a trusted financial advisor. You will be able to talk to an experienced attorney who will answer any of your questions.

Since the Silver Law Group is a contingency-based firm, you won’t owe us anything unless you recover lost money. Call us at 954.755.4799 or just fill out our online contact form.