Did you lose money investing with Yousuf Saljooki (CRD# 5045123)?
Galvin Legal, PLLC is launching an investigation on behalf of investors who may have suffered losses investing with Yousuf Saljooki. If you suffered losses investing with Yousuf Saljooki, 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 March 29, 2023, Yousuf Saljooki’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
11 Customer Disputes
8 Regulatory Events
2 Employment Separation After Allegations
1 Judgment(s)/Lien
November 12, 2020 – An Office of Hearing Officers (OHO) decision became final in which Saljooki was barred from association with any FINRA member in all capacities. The sanction was based on findings that Saljooki failed to provide information and documents or appear and provide on-the-record testimony requested by FINRA during an investigation. The findings stated that FINRA initially began an investigation into the possible participation by a relative of Saljooki in undisclosed outside business activities (OBAs). During the investigation, the relative provided information to FINRA suggesting that Saljooki may also have participated in undisclosed OBAs while associated with his member firm. FINRA then began investigating Saljooki’s possible involvement in undisclosed OBAs. (FINRA Case #2019063626702)
Current and Previous Registrations
12/22/2017 – 04/20/2018 WORDEN CAPITAL MANAGEMENT LLC (CRD#:148366) Melville, NY
FINRA expelled the firm on 07/25/2022
08/24/2015 – 12/18/2017 SW FINANCIAL (CRD#:145012) Melville, NY
03/30/2015 – 08/25/2015 LEGEND SECURITIES, INC. (CRD#:44952) Melville, NY
FINRA expelled the firm on 04/17/2017
03/12/2015 – 03/20/2015 TRYCO SECURITIES, INC. (CRD#:104025) Melville, NY
07/16/2009 – 03/13/2015 BROOKVILLE CAPITAL PARTNERS (CRD#:102380) Melville, NY
FINRA expelled the firm on 06/08/2015
02/20/2008 – 07/15/2009 WHITAKER SECURITIES LLC (CRD#:121465) UNIONDALE, NY
03/13/2007 – 02/22/2008 VFINANCE INVESTMENTS, INC (CRD#:44962) BOCA RATON, FL
02/15/2006 – 04/09/2007 NEWBRIDGE SECURITIES CORPORATION (CRD#:104065) FT. LAUDERDALE, FL
01/05/2006 – 02/11/2006 BENSON YORK GROUP, INC. (CRD#:40231) MELVILLE, NY
FINRA expelled the firm on 09/27/2006
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 Yousuf Saljooki 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.
