Deutsche Bank Securities Terminates Brokers Jonathan Sdao, Joseph Reardon

Deutsche Bank Securities Inc. (CRD#: 2525) is a brokerage firm which the Financial Industry Regulatory Authority (“FINRA”) regulates. Also, the firm has an investment advisory which the Securities and Exchange Commission (“SEC”) regulates. Notably, Deutsche Bank Securities has a whopping two hundred eighty disclosures on FINRA BrokerCheck. Apparently, many of those disclosures consist of the firm’s regulatory infractions resulting in censures and fines, and some concern customer arbitrations resulting in the firm paying customers compensation for engaging in sales practice violations. Additionally, the firm reportedly terminated some of its own brokers, including Jonathan Sdao and Joseph Reardon, for possibly harming investors. Specifically, take a look at the following disclosures:

Deutsche Bank Securities Terminates Jonathan Sdao For Unauthorized Trading

Jonathan D. Sdao (CRD#: 5527440, New York, New York) used to be a Deutsche Bank Securities registered representative. Specifically, from December 19, 2008 and May 31, 2017, Jonathan Sdao was associated with the firm at its New York, New York offices. Evidently, Deutsche Bank Securities discharged Jonathan Sdao because he allegedly engaged in misconduct. Apparently, the firm internally reviewed Jonathan Sdao’s trading of collateralized mortgage backed securities as part of a regulatory inquiry. It seems that the firm examined allegations of Jonathan Sdao making unauthorized trades and violating the firm’s policies on trading and correspondence. Eventually, the firm determined that Jonathan Sdao violated the firm’s practices, policies or procedures. Subsequently, Jonathan Sdao became a general securities representative for Brean capital, LLC in New York, New York.

Deutsche Bank Securities Discharges Joseph Reardon For Customer Communications

 
Joseph Patrick Reardon (CRD#: 4679428, New York City, New York) is a prior securities representative of Deutsche Bank Securities. It seems that Joseph Reardon’s employment spanned December 14, 2004 to June 16, 2015. Notably, Deutsche Bank Securities discharged Joseph Reardon over violating the firm’s policies. Specifically, the firm claimed that it internally investigated Joseph Reardon’s communications with regard to collateralized mortgage backed securities. This was part of the same regulatory inquiry as referenced in the Jonathan Sdao termination. Eventually, the firm found that Joseph Reardon violated Deutsche Bank Securities policy given his unauthorized communications with customers regarding the CMBS investments.

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