Broker Fadi Soliman Gets Sanctioned By New Jersey Securities Bureau, FINRA
Securities regulators have dealt another blow to prior Ameriprise and IBN Financial Services securities broker Fadi Sami Soliman (CRD#: 2740790, Liverpool, New Jersey). Specifically, New Jersey Bureau of Securities, who regulates all securities brokers in the state, just revoked Soliman’s registration as a securities agent and financial advisor. The Bureau’s decision follows FINRA’s move to bar Soliman as a securities broker. Also, two of Soliman’s clients filed disputes about him. Notably, those disputes allege that he caused clients to suffer losses or damages of some sort. Here’s more.
New Jersey Bureau Of Securities, FINRA Expel Fadi Soliman From Securities Industry
First of all, in October 2020, New Jersey Bureau of Securities revoked Fadi Soliman’s privilege to be a securities broker or financial advisor. This regulatory action is primarily based on FINRA barring Soliman as a securities broker.
Evidently, FINRA barred Fadi Soliman in June 2019 because he avoided answering its requests. It is unclear whether FINRA launched an investigation into Soliman. However, it at least inquired into his activities in 2019. Supposedly, Soliman did not respond. FINRA suspended him in July 2019 for his failure to respond. It then barred him in September 2019 for failing to resolve the suspension.
Ameriprise Financial Services Client Indicates That Soliman Unreasonably Charged Them
Evidently The first dispute concerns an Ameriprise Financial Services client who complained about Fadi Soliman in January 2018. Specifically, the client alleged that Soliman did not tell them about mutual fund charges over a six-month period. Supposedly, the securities broker did not have a reasonable basis to charge this client in the manner that he did. However, Ameriprise denied this dispute in January 2018.
Client Alleges That Fadi Soliman Made Excessive, Unauthorized Trades
In the second investor dispute, a client of Ameriprise Financial Services took aim at Fadi Soliman for his trading activities between 2014 and 2016. Namely, the client alleged in this September 2017 dispute that Soliman made excessive trades. Not only that, but the securities broker purportedly traded without the client’s knowledge or permission. Given the allegations of unauthorized and excessive trading, Ameriprise opted to settle the complaint by making a $25,000 payment to the client in December 2017.
Have You Experienced Losses From Fadi Soliman?
Supposedly, Fadi Soliman denies allegations of his sales practice violations. Have you experienced losses by investing with this securities broker? If so, reach out to Soreide Law Group at (888) 760-6552 and speak with experienced counsel concerning 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 been wronged by their securities brokers or financial advisors.