Frank Bodi Of Landolt Securities Fined By FINRA For Discretionary Trading

FINRA suspended securities broker Frank J. Bodi [CRD: 1107838, Solon, Ohio], and investors complaint about him, based on disclosures on Financial Industry Regulatory Authority (FINRA) BrokerCheck. Frank Bodi worked for Landolt Securities Inc. from March 13, 2017, to February 16, 2024. Investors are encouraged to review the information below to discover more about the disclosures associated with this broker’s professional record.

FINRA Sanctioned Bodi For Discretionary Trading

Evidently, on January 30, 2025, FINRA issued Case No. 2023079079001 sanctioning Frank Bodi for infractions. Specifically, Bodi was suspended for one month and fined $7,500. FINRA alleged that Bodi exercised discretion in client accounts without obtaining the required prior written authorization.

According to the regulatory action, FINRA found that while Bodi had previously discussed certain transactions with clients, he executed trades on specific days without first obtaining authorization at the time of execution. None of the affected client accounts were approved as discretionary by the firm, and no client provided written permission allowing Bodi to trade on a discretionary basis. This conduct was found to be inconsistent with FINRA Rule 3260, which governs discretionary trading. The matter was resolved through an Acceptance, Waiver, and Consent, without Bodi admitting or denying the findings. The suspension ran from February 3, 2025, through March 2, 2025.

UBS PaineWebber Investor Accused Frank Bodi Of Unsuitable Recommendations

Also, a client filed a complaint about Frank Bodi. Primarily, the client alleged that Bodi made unsuitable recommendations. For this reason, the client allegedly sustained damages involving mutual funds. As a result, on April 15, 2003, UBS PaineWebber Inc. settled this matter by paying the client $25,000 in damages.

Bodi Disclosed Unauthorized Trading Allegations By Merrill Lynch Client

Also, a client of Merrill Lynch contested Bodi’s sales practices by filing NASD Arbitration No. 02-05685. Allegedly, Bodi engaged in unauthorized trading and made unsuitable recommendations. It appears that Bodi caused the client to experience damages related to options and mutual funds. Consequently, Merrill Lynch opted to settle the matter on August 26, 2003, by compensating the client in the amount of $61,500.

Were You Impacted By Financial Advisor / Securities Broker Frank Bodi?

Are you concerned about investments you made through Frank Bodi? You can contact Soreide Law Group at (888) 760-6552 or online and consult with a securities lawyer concerning a possible recovery of your investment losses. Soreide Law Group has recovered losses for clients located throughout the US. Also, the firm works on a contingency fee basis and advances all costs. Bodi and brokerage firms Bodi worked for deny accusations of sales practice violations.