Rockwell Global Capital Broker Carl Antaki Allegedly Churns Account

The Financial Industry Regulatory Authority (“FINRA”) reports troubling allegations of sales practice violations by securities broker Carl Antaki (CRD#: 4177543, Syosset, New York). Indeed, FINRA BrokerCheck shows that five of Antaki’s clients at firms including First Standard Financial, Rockwell Global Capital and Weatherly Securities Corporation filed disputes making allegations of suitability, churning and misrepresentation. Read on to learn more about these disputes which suggest that Antaki made unreasonable and inappropriate trades that caused investors’ losses.

First Standard Financial Client Indicates Carl Antaki Made Unsuitable Trades

The most recent dispute comes from a First Standard Financial client on March 7, 2019. Allegedly, the client alleges in FINRA Arbitration #: 19-00662 that Carl Antaki made unreasonable stock trades for the client’s account. Antaki’s trading supposedly conflicted with the client’s risk tolerance, goals or other circumstances. Notably, the client seeks $100,000 in compensatory relief because of Antaki’s allegedly unsuitable stock trades. Evidently, this complaint is pending a resolution.

Rockwell Global Client Alleges Antaki Misrepresented Investments, Churned Account

A Rockwell Global Capital client brought a FINRA Arbitration #: 17-02508 on October 3, 2017. First of all, the client alleged that Carl Antaki acted in a dishonest, deceptive manner, misrepresenting information about OTC equities. Secondly, Antaki allegedly failed to comply with his obligations as a fiduciary, and instead placed his interests ahead of the client’s interests. Finally, the client alleged that Antaki churned the client’s account which could mean that Antaki made trades just to generate commissions or fees. As a result, Antaki personally compensated the client to settle the matter on November 3, 2017.

Rockwell Settles Client’s Claim Containing Allegations Of Carl Antaki’s Excessive Commissions

Evidently, a second client of Rockwell Global Capital brought a dispute about Carl Antaki’s sales practices. Namely, the client alleged that Antaki charged unreasonable commissions. It is possible that Antaki made excessive trades which caused the client to pay excessive commissions. Not only that, but the client alleged that Antaki’s trading was unsuitable given the client’s circumstances. In addition, Antaki allegedly misused or possibly abused margin relating to his stock trades. Evidently, in 2016, Rockwell Global Capital settled this matter through paying the client $62,500. Notably, Antaki personally contributed the funds to resolve his client’s dispute.

Arbitrator Orders Antaki To Pay Weatherly Client For Breach Of Fiduciary Duty, Negligence

Previously, Antaki worked for Weatherly Securities Corporation. NASD Arbitrators issued an Award ordering Carl Antaki to pay $20,000 to a client of Weatherly Securities. Notably, the client alleged in the Statement of Claim that Antaki breached a fiduciary duty. Supposedly, Antaki made unauthorized transactions, and negligently recommended or traded Cisco Systems, 12 Technologies or QLogic securities. In addition, the client alleged that Antaki violated federal and state securities laws. The NASD Arbitrators determined that Antaki was responsible for causing the client’s losses.

Lars Soreide Highest Ethical Standard Award 2018

Lars Soreide Highest Ethical Standard Award 2018

Have you experienced losses by investing with Carl Antaki when he worked for Rockwell Global Capital (2008 to 2015), First Standard Financial (2015 to 2019) or Network 1 Financial Securities (2019 – present)? If so, contact Soreide Law Group at (888) 760-6552 and speak with experienced counsel about a possible recovery of your investment losses. Soreide Law Group represents clients on a contingency fee basis and advances all costs. The law firm has recovered millions of dollars for clients who have suffered losses due to misconduct of brokers and brokerage firms.