Soreide Law Group has been contacted by former clients regarding the following broker, and upon investigation into his FINRA BrokerCheck report, it was discovered that he has 20 disclosures on his FINRA CRD report, with 18 “Customer Disputes.”
MICHAEL FASCIGLIONE (CRD#: 1806486), is currently with AEGIS CAPITAL CORP. of Mineola, New York since 9/13/2017.
According to FINRA’s BrokerCheck, Fasciglione has been registered in the securities industry for 32 years and has been listed with 11 firms. Prior to Aegis Capital, he was registered with NATIONAL SECURITIES CORPORATION of Mineola, New York from 01/30/2007 – 09/29/2017.
Of the 18 Customer Disputes on MICHAEL FASCIGLIONE’s CRD report, 11 have settled, 6 are pending, and 1 was closed with no action. The disputes date from 1999 to 2021. Of the settled disputes, some of the allegations were: unsuitable investments, breach of fiduciary duty, negligence, negligent misrepresentation, churning, fraud, breach of contract and excessive trading. Some of the settlement amounts were as follows; $40,000.00, $67,500.00, $135,000.00, $300,000.00, $525,000.00. The broker denies allegations.
MICHAEL FASCIGLIONE also has 2 “Regulatory” disclosures on his FINRA report.
In July of 2004 there was an action initiated by NEW YORK STOCK EXCHANGE DIVISION OF ENFORCEMENT. The Sanction details are as follows from September 28, 2004, “DECISION #04-152 ISSUED BY NYSE HEARING PANEL. DECISION: VIOLATED EXCHANGE RULE 342.16 BY FAILING TO SUPERVISE ACTIVITIES OF A REGISTERED REPRESENTATIVE; VIOLATED EXCHANGE RULE 405(2) BY FAILING TO SUPERVISE ACCOUNTS SERVICED BY A REGISTERED REPRESENTATIVE; CAUSED VIOLATIONS OF EXCHANGE RULE 410(A) BY FAILING TO ENSURE PROPER AUTHORIZATION OF ACCOUNT DESIGNATION CHANGES; VIOLATED EXCHANGE RULE 352(C) BY CAUSING REIMBURSEMENT OF LOSSES; CAUSED A VIOLATION OF EXCHANGE RULE 351(D) BY FAILING TO NOTIFY THE FIRM OF A CUSTOMER COMPLAINT. PENALTY: CENSURE, TWO MONTH BAR, AND AN UNDERTAKING TO RE-TAKE QUALIFYING EXAMS.” The broker consented to the findings of the NYSE without admitting or denying the allegations.
In December of 2014, MICHAEL FASCIGLIONE was suspended for one month and fined $5,000.00 following allegations from FINRA, “WITHOUT ADMITTING OR DENYING THE FINDINGS, FASCIGLIONE CONSENTED TO THE SANCTIONS AND TO THE ENTRY OF FINDINGS THAT HE FAILED TO TIMELY AMEND HIS FORM U4 TO DISCLOSE ONE INTERNAL REVENUE SERVICE (IRS) TAX LIEN FILED AGAINST HIM.”
If you’ve experienced financial losses due to the actions or recommendations of the AEGIS CAPITAL CORP. of Mineola, New York broker, MICHAEL FASCIGLIONE, 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 and represents our clients nationwide before FINRA.