Did you lose money investing with Arthur Mansourian (CRD# 5252154)?
Galvin Legal, PLLC is launching an investigation on behalf of investors who may have suffered losses investing with Arthur Mansourian. If you suffered losses investing with Arthur Mansourian, then Galvin Legal, PLLC may be able to help you recover your losses in a Financial Industry Regulatory Authority (“FINRA“) arbitration claim.
If you suffered losses and would like a free consultation with a securities attorney, then please call Galvin Legal, PLLC at 1-800-405-5117.
As of February 11, 2023, Arthur Mansourian’s FINRA BrokerCheck Report contains the following:
BARRED: FINRA has barred this individual from acting as a broker or otherwise associating with a broker-dealer firm.
Disclosure Events
1 Regulatory Event
June 8, 2021 – An SEC decision became final in which Mansourian was barred from association with any FINRA member in all capacities with a right to reapply for association with a FINRA member firm in two years. The SEC affirmed the findings and modified the sanctions imposed by the NAC. The SEC reduced the bar imposed by FINRA to a bar with the right to reapply for association after two years. The sanction was based on findings that Mansourian participated in an effort to obtain falsified compliance records from associated persons and provided them to FINRA. The findings also stated that Mansourian caused his member firm to maintain inaccurate books and records when he evaded its email retention system by soliciting backdated compliance forms using his personal email account. Mansourian’s requests for backdated compliance forms, and the responses he elicited, were business-related communications that his firm was required to preserve. Mansourian also specifically requested that recipients provide their responses to him at his personal address or an unlogged fax number that the firm shared with other businesses that a firm principal operated. While the SEC agreed with FINRA’s finding that aggravating factors predominated in Mansourian’s misconduct, the SEC found that it was mitigating that Mansourian was inexperienced at the time of his misconduct. (FINRA Case #2013037522501)
Current and Previous Registrations
06/09/2015 – 01/11/2019 NMS CAPITAL ADVISORS, LLC. (CRD#:140356) BEVERLY HILLS, CA
10/26/2012 – 09/25/2015 NMS CAPITAL SECURITIES, LLC (CRD#:107401) BEVERLY HILLS, CA
04/15/2011 – 09/28/2012 ZECCO TRADING, INC. (CRD#:135398) GLENDALE, CA
03/16/2007 – 10/30/2007 ASHRAF CAPITAL CORP. (CRD#:42611) PASADENA, CA
If you suffered losses and would like a free consultation with a securities attorney, then please call Galvin Legal, PLLC at 1-800-405-5117.
Due Diligence Requirement
FINRA requires broker’s to conduct due diligence on investments and to conduct a suitability analysis when recommending securities to a customer that takes into account the customer’s knowledge and experience. FINRA Rule 2111(a) states that “a member or an associated person must have a reasonable basis to believe that a recommended transaction or investment strategy involving a security or securities is suitable for the customer, based on the information obtained through the reasonable diligence of the member or associated person to ascertain the customer’s investment profile. A customer’s investment profile includes, but is not limited to, the customer’s age, other investments, financial situation and needs, tax status, investment objectives, investment experience, investment time horizon, liquidity needs, risk tolerance, and any other information the customer may disclose to the member or associated person in connection with such recommendation.”
Rule 2111 is composed of three main obligations: reasonable-basis suitability, customer-specific suitability, and quantitative suitability. Brokers and the brokerage firms they work for that fail to conduct adequate due diligence on investments they recommend or that make unsuitable recommendations can be held responsible for the customer’s losses in a FINRA arbitration claim.
If you suffered losses and would like a free consultation with a securities attorney, then please call Galvin Legal, PLLC at 1-800-405-5117.
Request a Free Consultation with a Securities Attorney
If you suffered losses investing with Arthur Mansourian and would like a free consultation with a securities attorney, then please call Galvin Legal, PLLC at 1-800-405-5117.
This information is all publicly available and is being provided to you by Galvin Legal, PLLC.
Galvin Legal, PLLC is a national securities arbitration, securities mediation, securities litigation, securities fraud, securities regulation and compliance, and investor protection law practice. For more information on Galvin Legal, PLLC and its representation of investors, please visit www.galvinlegal.com or call 1-800-405-5117.
