Articles Tagged with Margin

Philip Connors is a stockbroker with Worden Capital Management LLC (“Worden Capital Management”) in New York, New York.  Mr. Connors has a history of customer disputes and a past association with a disreputable brokerage firm that has been expelled by FINRA.

If you have lost money with broker Philip Connors or Worden Capital Management, contact New York securities arbitration lawyers Iorio Altamirano LLP for a free and confidential review of your account.

Worden Capital Management

FINRA has suspended financial advisor Jamie I. Sanchez Rivera (CRD #6013022) from the securities industry for five months and fined him $10,000.   Jamie I. Sanchez Rivera was a stockbroker at First Southern, LLC in Guaynabo, Puerto Rico, from April 2017 until May 2020.

First Southern, LLC fired Mr. Sanchez Rivera in May 2020, alleging the following:

  • Sanchez Rivera failed to immediately advise the firm of a customer’s complaint regarding an investment recommendation that he made, in violation of firm policy.

FINRA has sanctioned Coastal Equities, Inc. for its failure to reasonably supervise a stockbroker who recommended excessive and unsuitable trades in the accounts of customers.   Coastal Equities, Inc. was censured and ordered to pay $270,320 in restitution to clients, plus $9,589 in interest.

FINRA alleged that between October 2016 and July 2018, Coastal Equities, Inc. failed to reasonably supervise a financial advisor that recommended excessive and unsuitable trading in accounts of four customers.  FINRA also alleged that the financial advisor was making unsuitable recommendations to purchase securities using margin in two of those accounts.  According to the allegations, the financial advisor’s supervisor became aware of multiple instances of unsuitable trading but failed to respond reasonably.

Based on public records, it is believed that the financial advisor at issue is Sam Aziz.  Mr. Aziz worked at Coastal Equities in the Dublin, Ohio branch from September 2015 through July 2018.  In 2019, Mr. Aziz was barred by FINRA from the securities industry.   He has also been the subject of numerous customer complaints.

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