FINRA Reportedly Bars Broker David Martirosian after Allegations of Unsuitable & Excessive Trading
According to public records posted by The Financial Industry Regulatory Authority (FINRA), the regulator has reportedly barred broker David Martirosian (CRD #5261144) of Mineola, NY from the securities industry.
This matter purportedly originated from an investigation into Martirosian’s potentially unsuitable and excessive trading and his potential participation in an undisclosed private securities transaction while associated with Joseph Stone.
Martirosian reportedly refused to provide information in FINRA’s investigation which led to the bar, according to a Letter of Acceptance, Waiver and Consent.
According to his FINRA BrokerCheck report, Martirosian was reportedly registered with Joseph Stone Capital in Mineola, NY from July 2016 until April 2021. He has reportedly been affiliated with nine different firms during his thirteen years in the securities industry. Martirosian has three customer complaints and four judgments/liens, according to FINRA.
For FINRA’s full findings see FINRA case #2019063251701.
Potential Lawsuits to Recover Financial Losses
Brokerage firms are required to properly supervise their advisors. They must ensure that those advisors are complying with applicable FINRA rules and regulations. If it can be demonstrated that Martirosian’s employers failed to properly supervise him, the firm may be held responsible for the losses in a FINRA arbitration claim.
If you are concerned about your investments with David Martirosian, please call the securities fraud attorneys at The White Law Group at 888-637-5510 for a free consultation.
For more information on The White Law Group, and its representation of investors, please visit www.WhiteSecuritiesLaw.com.
The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois.