Evidently, Massachusetts Securities Division issued a Consent Order on September 27, 2018, placing securities broker David Silberg (CRD#: 1970484, Melville, New York) on heightened supervision. The Division prohibited Silberg, who affiliated with Aegis Capital Corp. between 2010 and 2019, from soliciting investment purchases from clients for 5 years. Not only that, but the Division stated that Silberg is not even allowed to meet with Massachusetts investors for 5 years.
The Massachusetts Securities Division noticed that five clients disputed David Silberg’s sales practices. Those clients suggested that Silberg engaged in forgery and lied to them about life insurance policy costs. Silberg supposedly falsified information to another client about selling an annuity. Moreover, the Division alleged that Silberg made unauthorized and unsuitable trades. Finally, the Division noted Silberg’s disciplinary history as a factor in sanctioning him.
Evidently, a client of Aegis Capital Corp. filed FINRA Arbitration #: 16-01779 on August 30, 2016. First of all, the client says that from 2013 to 2016, David Silberg made bad investment recommendations. Supposedly, Silberg asked the client to buy corporate debt investments which were not reasonable for his risk tolerance or goals. Secondly, the client suggested that Silberg omitted and misrepresented facts about corporate debt investments. Because of this, the client supposedly purchased an investment that he would not have if informed about all the features and risks. As a result, Aegis agreed on May 30, 2017 to pay the client $29,750 to settle this matter.
Also, David Silberg discloses disputes brought by Kirlin Securities and GunnAllen Financial clients. Allegedly, Silberg misrepresented information about the client’s sale of an annuity and use of proceeds for mutual fund purchases. However, that matter closed without resolution. Later, a GunnAllen Financial client claimed that Silberg made unauthorized and unsuitable stock trades. Indeed, GunnAllen settled that dispute by paying the client $50,000.
Have you experienced losses by investing with securities broker David Silberg? 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.
Soreide Law Group has filed a FINRA arbitration on behalf of our clients (Claimants) against: CONCORDE INVESTMENTS SERVICES, LLC, and BERTHEL, FISHER & COMPANY FINANCIAL SERVICES, INC (Respondents). The Claimants are in their late 70s, retired, and according to the lawsuit, were not looking to take any unnecessary risks with their retirement savings. The Claimants […]
THEODORE WILLIAM BYRER (THEODORE W BYRER, TED BYRER) was registered as a broker with MORGAN STANLEY of Indianapolis, Indiana, from 11/11/2013 - 04/20/2023. He was most recently registered with INTERNATIONAL ASSETS ADVISORY, INC of Westfield, Indiana, from 05/09/2023 - 09/17/2024. According to his BrokerCheck CRD report, dated 7/23/2026, THEODORE W BYRER was suspended for 14 […]
MARK LAWRENCE SULLIVAN (MARK SULLIVAN, MARK L SULLIVAN), formerly with UBS Wealth Management USA in New York City, was fined $10,000 and suspended for three months by the Financial Industry Regulatory Authority (FINRA) over allegations that he traded in customers’ accounts without the proper approval. Sullivan was previously registered both as a broker and as an […]
Phone:
Fax: 1-954-760-6553
Email: info@securitieslawyer.com