Joseph Brian LaScala Jr Fined and Suspended by FINRA

Soreide Law Group obtained the following information from FINRA’s website under, “Disciplinary and Other FINRA Actions,” March, 2022 regarding broker/financial advisor:
Joseph Brian LaScala Jr (Joe LaScala Jr, CRD #3070261, Merrick, New York), who is currently registered with Aegis Capital of Melville, New York.
On January 24, 2022, an Acceptance, Waiver and Consent (AWC) was issued in which LaScala was fined $7,500 and suspended from association with any FINRA member in all capacities for four months. The suspension is in effect from February 22, 2022, through June 21, 2022.
Without admitting or denying FINRA’s findings, Joseph Brian LaScala Jr consented to the sanctions and to the entry of findings that he allegedly engaged in excessive and quantitatively unsuitable trading in his client’s account.
FINRA’s findings alleged that Joseph Brian LaScala Jr engaged in short-term trading in the client’s individual 401(k) account. According to FINRA, LaScala allegedly decided which stocks to trade and when to trade them, and exercised discretionary authority in connection with the trades. LaScala also allegedly controlled the volume and frequency of trading in the client’s account.
The FINRA report alleges that Joseph Brian LaScala Jr’s short-term trading in the client’s account resulted in $90,720 in trading costs and $116,194 in losses.
FINRA’s findings also stated that LaScala allegedly exercised discretionary authority to effect trades in the same client’s account without having obtained prior written authorization from the client or approval from his member firm to treat the account as discretionary.
(FINRA Case #2021070337201)
According to FINRA’s BrokerCheck, available to the public on FINRA’s website, Joseph Brian LaScala Jr has been in the securities industry for 23 years and has 5 disclosures on his FINRA CRD report, 4 of the disclosures are “Customer Disputes.”  Of the 4 disputes, 3 have settled and 1 was denied.  LaScala denies the allegations.
Brian LaScala Jr has been listed with 5 firms and is currently listed with the following firm:
AEGIS CAPITAL CORP
1305 WALT WHITMAN RD SUITE 120
MELVILLE, NY 11747
If you have experienced financial losses due to the actions or recommendations of the broker/financial advisor, Brian LaScala Jr, currently with AEGIS CAPITAL CORP of Melville, New York, contact Soreide Law Group and speak to an experienced securities lawyer at no cost regarding the possible recovery of your investment losses through a FINRA arbitration at:  888-760-6552.
Soreide Law Group works on a contingency fee basis, no fee to you if no recovery. We represent our clients nationwide before FINRA.