Did you lose money investing with Rob Smith (CRD# 2757295)?
Galvin Legal, PLLC is launching an investigation on behalf of investors who may have suffered losses investing with Rob Smith. If you suffered losses investing with Rob Smith, 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 8, 2023, Rob Smith’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
July 23, 2021 – An AWC was issued in which Smith was barred from association with any FINRA member in all capacities. Without admitting or denying the findings, Smith consented to the sanction and to the entry of findings that he refused to provide on-the- record testimony requested by FINRA in connection with its investigation of his sale of unregistered notes issued by his non-FINRA member firm and his use of donations made to or through his member firm. The findings stated that Smith initially cooperated with FINRA’s investigation, but he eventually ceased doing so. (FINRA Case #2021070809101)
Current and Previous Registrations
01/23/2020 – 07/23/2021 ICV GROUP, INC. (CRD#:294024) New York, NY
FINRA expelled the firm on 07/23/2021
02/03/2016 – 09/06/2018 SILVER LEAF PARTNERS, LLC (CRD#:126694) NEW YORK, NY
03/07/2014 – 08/28/2015 NATIONAL SECURITIES CORPORATION (CRD#:7569) NEW YORK, NY
11/27/2012 – 03/07/2014 SOURCE CAPITAL GROUP, INC. (CRD#:36719) SCOTTSDALE, AZ
10/25/2010 – 12/15/2011 CHARDAN CAPITAL MARKETS LLC (CRD#:120128) NEW YORK, NY
05/18/2009 – 10/04/2010 RAFFERTY CAPITAL MARKETS, LLC (CRD#:23682) NEW YORK, NY
04/09/2009 – 04/13/2009 MAGNA SECURITIES CORP. (CRD#:30935) NEW YORK CITY, NY
01/07/2009 – 03/11/2009 BGC FINANCIAL, L.P. (CRD#:19801) NEW YORK, NY
04/05/2007 – 10/24/2008 TOUCHPOINT SECURITIES CORP. (CRD#:137224) SCOTTSDALE, AZ
05/14/2004 – 11/02/2005 BEAR, STEARNS & CO. INC. (CRD#:79) NEW YORK, NY
09/02/2003 – 03/15/2004 FIRST NEW YORK SECURITIES L.L.C. (CRD#:16362) NEW YORK, NY
12/04/2001 – 03/28/2002 ELECTRONIC TRADING GROUP, LLC (CRD#:37453) NEW YORK, NY
08/27/2001 – 11/19/2001 FIRST NEW YORK SECURITIES L.L.C. (CRD#:16362) NEW YORK, NY
07/02/1999 – 07/24/2001 KNIGHT SECURITIES, L.P. (CRD#:38599) JERSEY CITY, NJ
09/12/1996 – 06/11/1999 SHERWOOD SECURITIES CORP. (CRD#:7172) NEW YORK, NY
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 Rob Smith 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.
