Securities broker Lilia Nia [CRD: 6018019, Fairfield, New Jersey], who worked for Purshe Kaplan Sterling Investments from 2013 to 2021, discloses regulatory sanctions and investor disputes on FINRA BrokerCheck. Read on to learn more about these disclosures.
On January 15, 2023, the New Jersey Bureau of Securities took action against Lilia Nia, imposing a 7.5-month suspension. This decision was based on a previous expulsion order from a self-regulatory organization, leading to the suspension of Nia's investment adviser representative registration.
Also, FINRA sanctioned Lilia Nia on August 7, 2023, for her involvement in unauthorized transactions within a community bank account. Supposedly, Nia, without proper authorization, accepted trading orders from an unapproved individual, resulting in commissions for herself and costs for the bank. The penalties included a $5,000 fine, $150,000 in disgorgement, and a one-year suspension.
Additionally, a Purshe Kaplan Sterling Investments client filed FINRA Arbitration No. 21-01926 against Lilia Nia, alleging breach of fiduciary duty and unsuitable trading. Evidently, the dispute was settled on January 30, 2023, for $425,000, with Nia not contributing personally to the settlement.
If Lilia Nia's actions have impacted your investments, consider discussing your case with Soreide Law Group. The firm, offering services on a contingency fee basis, assists investors nationwide in recovering their losses. Contact them online or at (888) 760-6552. Despite the allegations, Nia and her former employers deny any accusations of sales practice violations.
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