The following information is available on FINRA's Website under “Disciplinary and Other FINRA Actions, April, 2014.”
Gregg N. Nussbaum (CRD #2020751, Registered Representative, Deerfield, Florida)
has been barred by FINRA. Allegedly, according to the FINRA report, Nussbaum intentionally exceeded his trading authority. FINRA's findings stated that his firm authorized Nussbaum could only simultaneously open and close a U.S. Treasury position of no greater than $5 million so as not to engage in risky principal trading for the firm. However Nussbaum did not simultaneously open and close positions and he left positions open for long periods of time throughout the trading day and he opened positions in excess of the $5 million par value limit.
According to FINRA, Nussbaum allegedly had intentionally submitted order tickets with false execution times to the firm and exceeded his trading authority. These tickets indicated falsely that Nussbaum was complying with the firm’s limitations. The firm engaged in proprietary trading, so it was required to maintain a minimum net capital of $100,000. Nussbaum allegedly opened and left open on a particular date, which then caused the firm’s capital position to fall below its required minimum on that day. FINRA's findings stated that as a result on that day, the firm conducted a securities business while it was net-capital deficient.
(FINRA Case #2013038444702)
According to FINRA's BrokerCheck, Gregg N. Nussbaum was previously registered with the following FINRA firm(s):
GILFORD SECURITIES INCORPORATED (CRD# 8076) - FT. LAUDERDALE, FL
04/2012 - 08/2013
NATIONAL SECURITIES CORPORATION (CRD# 7569) - BOCA RATON, FL
01/2012 - 03/2012
FIRST INTEGRITY CAPITAL PARTNERS CORP. (CRD# 146049) - WEST PALM BEACH, FL
02/2011 - 11/2011
KILEY PARTNERS, INC. (CRD# 37814) - PALM BEACH GARDENS, FL
09/2010 - 12/2010
STERNE AGEE FINANCIAL SERVICES, INC. (CRD# 18456) - BOCA RATON, FL
07/2010 - 09/2010
JESUP & LAMONT SECURITIES CORP (CRD# 39056) - BOCA RATON, FL
FINRA expelled the firm in 11/2010 07/2009 - 02/2010
SETON SECURITIES GROUP, INC. (CRD# 18044) - NEW YORK, NY
05/2009 - 08/2009
FIRST AMERICAN CAPITAL AND TRADING CORPORATION (CRD# 118812) - BOCA RATON, FL
03/2007 - 06/2007
NEWBRIDGE SECURITIES CORPORATION (CRD# 104065) - FT. LAUDERDALE, FL
12/2006 - 01/2007
CAPITAL GROWTH FINANCIAL, LLC (CRD# 41040) - BOCA RATON, FL
FINRA expelled the firm in 07/2008 12/2005 - 11/2006
SKY CAPITAL LLC (CRD# 114657) - BOCA RATON, FL
FINRA expelled the firm in 04/2009 07/2004 - 01/2006
S.W. BACH & COMPANY (CRD# 43522) - PORT WASHINGTON, NY
06/2004 - 06/2004
This ends the information from FINRA's website.
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