Articles Tagged with stockbroker mis

New York broker Nathalo Menendez (CRD# 4882003), was permanently barred by FINRA and is no longer licensed to act as a broker, or otherwise associating with firms that sell securities to the public. Menendez is barred from association with any FINRA member in any capacity.

According to FINRA, during the period 2007 through 2010, while employed as a broker at iTRADEdirect.com, Menendez engaged in unauthorized trading and excessive trading (“churning”), and unauthorized account openings, in violation of FINRA Rule 2010 and NASD Rules 2110, 2310, and 3110. The assertions against him involved the excessive buying and selling of stock for the purpose of generating commissions, and not for the benefit of the client.

Menendez was registered with nine firms between 2004 and April 26, 2013 [Salomon Grey Financial Corp., Westpark Capital, Inc., Fordham Financial Management, Inc., iTRADEdirect.com Corp., EKN Financial Services Inc., John Thomas Financial, Laidlaw & Company LTD., and A & F Financial Securities Inc.], and left the securities industry on April 26, 2013. Four out of the nine firms he worked for have been expelled from the brokerage industry by FINRA for violations of the law and misconduct. Additionally, Menendez has other claims against him including a customer award dated August 22, 2013, in the amount of $166,000.00 plus interest against Menendez and EKN Financial Services Inc., jointly. This suit was for unsuitability, fraud, excessive trading, and breach of fiduciary duty, among other claims.