Financial Advisor Sam Aziz, Coastal Equities Inc. Financial in Dublin, OH
FINRA Reportedly Bars Sam Aziz after Allegations of Unsuitable Investments & Excessive Trades
The White Law Group is continuing its investigation involving Sam Aziz and the liability his former employers, Coastal Equities, Inc. may have for failure to properly supervise him.
On January 7, 2020, the Ohio Division of Securities reportedly revoked Aziz’s registration after allegations of churning, breach of fiduciary duty, trading that is unsuitable for investment objectives.
This comes after FINRA’s sanctions in March 2019, when Aziz was reportedly barred from associating with any FINRA member at any time. FINRA reportedly barred Aziz after he purportedly refused to appear for on-the-record testimony in connection to an investigation into his sales practices at his member firms.
The findings stated that FINRA was investigating “allegations of excessive trading and unsuitable recommendations involving the use of margin,” among other allegations.
According to his broker profile, Aziz was reportedly registered with Coastal Equities in Dublin, Ohio from 2015 until 2018. Aziz reportedly has 9 customer complaints filed against him during his career in the securities industry, with two still pending from September 2020. Allegations include unsuitable investments and excessive trades, among others. Aziz’s broker record also indicates he has two employment separations and 3 regulatory disclosures since beginning his career in 1997.
Investigating Potential Lawsuits
Coastal Equities Inc. and all brokerage firms have a responsibility to adequately supervise its employees. They must ensure the necessary procedures and systems to detect misconduct.
If you are concerned about your investments with Sam Aziz and Coastal Equities Inc., please call the securities fraud attorneys at The White Law Group at 888-637-5510 for a free consultation.
The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Franklin, Tennessee.
For more information on The White Law Group, and its representation of investors, please visit www.WhiteSecuritiesLaw.com.