The following summation of information was obtained on FINRA’s website under “Disciplinary and Other FINRA Actions, January, 2014.”
Irving Marvin Burstein (CRD #1218326, Registered Principal, Boynton Beach, Florida)
was suspended for one year and required to cooperate with FINRA or any other regulator in investigations and hearings related to his member firm. Burstein was his firm’s CCO. FINRA's findings stated that Burstein failed to review customer accounts to detect and monitor for unsuitable transactions, excessive trading activity, unauthorized trading/transactions, excessive losses, wholesale recommendations, excessive securities concentrations, and large or routine debit balances.
Burstein’s review was limited to a quarterly review of customer files on a random basis. Allegedly, the firm’s WSPs provided that the firm would not begin receiving exception reports until a later date and Burstein failed to review them. The customer accounts were being excessively traded each month. Burstein did not review transactions for suitability. The firm's registered representatives made unsuitable recommendations to customers and used excessive margin in trading their accounts. Many of the firm customers sustained significant losses. Many customers did not authorize the trades and had conservative portfolios.
FINRA found that the numerous customer complaints were not reviewed, and registered representatives were allowed to engage in sales practice abuses--unauthorized trading and churning with no oversight. Burstein, the CCO, ignored his responsibilities to supervise the activities of the firm’s registered representatives and to implement and enforce the firm’s WSPs.
The suspension is in effect from December 16, 2013, through December 15, 2014.
(FINRA Case #2011027667401)
According to FINRNA's BrokerCheck, Irving Marvin Burstein was previously registered with the following FINRA firm(s):
R.M. STARK & CO., INC. (CRD# 7612) - DELRAY BEACH, FL
10/2013 - 12/2013
LEGEND SECURITIES, INC. (CRD# 44952) - WEST PALM BEACH, FL
09/2012 - 09/2013
NSM SECURITIES, INC. (CRD# 134357) - WEST PALM BEACH, FL
09/2005 - 10/2011
POINTE CAPITAL, LLC (CRD# 112097) - TAMPA, FL
12/2004 - 03/2005
AURA FINANCIAL SERVICES, INC. (CRD# 42822) - BIRMINGHAM, AL
12/2002 - 08/2004
MILLENNIUM SECURITIES CORP. (CRD# 31695) - NEW YORK, NY
11/1999 - 03/2001
BARRON CHASE SECURITIES, INC. (CRD# 18969) - BOCA RATON, FL
04/1998 - 04/1999
LUMIERE SECURITIES, INC. (CRD# 13414) - DENVER, CO
03/1997 - 06/1997
GLOBAL STRATEGIES GROUP, INC. (CRD# 27414) - NEW YORK, NY
03/1996 - 04/1996
CANTONE RESEARCH INC. (CRD# 26314) - TINTON FALLS, NJ
11/1993 - 02/1996
JARON EQUITIES CORP. (CRD# 5764) - HICKSVILLE, NY
07/1993 - 10/1993
SAPERSTON FINANCIAL INC. (CRD# 27863) - BUFFALO, NY
10/1992 - 02/1993
MEYERS POLLOCK ROBBINS, INC. (CRD# 13436) - NEW YORK, NY
05/1992 - 10/1992
VANTAGE SECURITIES, INC. (CRD# 19611) 09/1990 - 05/1992
STUART, COLEMAN & CO., INC. (CRD# 8642) - NEW YORK, NY
01/1989 - 10/1990
DAMON, ANDREWS & COMPANY LTD. (CRD# 7770) 06/1984 - 11/1985
D.B.G. EQUITIES CORPORATION (CRD# 13427) 01/1984 - 06/1985
This ends the information from FINRA’s website.
Ft. Lauderdale-based, Soreide Law Group, represents clients nationwide in arbitrations before FINRA. For a free consultation on how to potentially recover your investment losses call: 888-760-6552.
TORY A DUGGINS was barred by FINRA from acting as a broker or otherwise associating with a broker/dealer firm. The last firm Duggins was registered with was SPARTAN CAPITAL SECURITIES, LLC, of New York, New York from 02/29/2016 - 01/31/2024. According to the FINRA report dated 1/21/2026, TORY A DUGGINS was named a respondent in […]
Investors might have sustained financial harm through WestPark Capital Inc. [CRD: 39914, Los Angeles, California], according to publicly available information found on Financial Industry Regulatory Authority BrokerCheck. WestPark Capital has been registered with FINRA since 1996 and maintains its headquarters in Los Angeles, California. Keep reading to discover more about the regulatory action involving the […]
Investors might have sustained losses due to securities broker James Fredrick Tighe [CRD: 3129233, Phoenix, Arizona], and Financial Industry Regulatory Authority barred him, based on public information on BrokerCheck. Tighe was associated with Morgan Stanley from June 1, 2009, through January 14, 2025. Continue reading to find out more about Tighe’s regulatory and client dispute […]
Phone:
Fax: 1-954-760-6553
Email: info@securitieslawyer.com