Soreide Law Group is investigating potential investor claims of sales practice violations possibly committed by securities broker Guy Gregory Clemente [CRD: 1222597, New York, New York], according to disclosures on Financial Industry Regulatory Authority (FINRA) BrokerCheck. Clemente worked for several firms, including Andrew Garrett Inc. from February 27, 2007, to January 2, 2024, and Aegis Capital Corp. since December 21, 2023. Here’s an overview of Clemente’s disclosures.
Specifically, on January 18, 2024, an Andrew Garrett Inc. client filed FINRA Arbitration No. 2400071 about Guy Clemente. The client alleged that Clemente breached his fiduciary duty, made unsuitable recommendations, engaged in excessive trading, and failed to supervise. Because of this, the client allegedly sustained damages on over-the-counter equities and common and preferred stocks. Therefore, the client requested $750,000 in compensation from Andrew Garrett Inc. or Clemente. Evidently, this arbitration is pending a resolution.
Particularly, Andrew Garrett Inc. disaffiliated with Clemente on December 21, 2023. Allegedly, Clemente was the subject of a client complaint. The complaint prompted an internal review, which was ongoing on December 21, 2023, when Clemente submitted his resignation. The internal review concluded that Clemente violated firm policies.
Particularly, a The Thornwater Company LP client filed NASD Arbitration No. 00-04269 about Guy Clemente. Mainly, the client alleged omission of facts, breach of fiduciary duty, unauthorized trading of stocks, negligence, suitability, omissions, and misrepresentations. For this reason, on October 27, 2003, an NASD Arbitration Panel issued an Award ordering Clemente to pay the client $92,697.40 in damages.
Additionally, a client of Commonwealth Associates contested Guy Clemente’s sales practices by filing NASD Arbitration No. 97-01462. Allegedly, Clemente omitted facts, breached a contract, was negligent, and made misrepresentations. It appears that Clemente caused the client to sustain damages. Because of this, NASD Arbitrators issued an Award dated May 21, 1998, compelling Commonwealth Associates to compensate the client in the amount of $40,000.
Have you experienced losses due to financial advisor / securities broker Guy Clemente? If so, contact Soreide Law Group online or at (888) 760-6552 and speak with a securities attorney regarding a potential recovery of your investment losses. Soreide Law Group investment loss lawyers help individuals throughout the United States, work on a contingency fee basis, and advance all costs. Clemente and brokerage firms Clemente worked for deny accusations of sales practice violations.
Moors & Cabot, Inc. (CRD 594) is a brokerage firm based in Boston, Massachusetts. FINRA censured and fined the firm $125,000 after finding it failed to develop and implement an anti-money laundering compliance program reasonably expected to detect and report suspicious transactions, according to an AWC issued August 24, 2026.
Cowen and Company, LLC (CRD 7616), now part of TD Securities (USA) LLC, is a brokerage firm based in New York, New York. FINRA censured and fined the firm a total of $80,000, of which $40,000 is payable to FINRA, according to an AWC issued August 19, 2026.
Webull Financial LLC (CRD 289063) is a brokerage firm based in New York, New York. FINRA censured and fined the firm $115,000 after finding it maintained inaccurate books and records of options order origin codes, according to an AWC issued August 17, 2026.
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