The Financial Industry Regulatory Authority (FINRA) reports important information about securities broker Michael Fasciglione [CRD#: 1806486, Garden City, NY]. Evidently, investors disputed the sales practices of the securities broker, who worked for Aegis Capital Corp. Additionally, the securities broker discloses a regulatory enforcement action. However, Fasciglione denies the allegations of sales practice violations. Read on to learn more about the allegations against Fasciglione.
Evidently, on July 29, 2022, a Aegis Capital Corp. client filed FINRA Arbitration #: 22-01690 about Michael Fasciglione. Notably, the client alleged that Fasciglione made unsuitable and unauthorized transactions, breached a fiduciary duty, and was negligent. Because of this, the client sustained damages. Therefore, the client requested compensation from Aegis Capital Corp. or Fasciglione. Evidently, this arbitration is pending a resolution.
Also, on April 4, 2022, a National Securities Corp. client filed FINRA Arbitration #: 22-00737 about Michael Fasciglione. Namely, the client alleged that Fasciglione made unsuitable transactions. Because of this, the client sustained damages on real estate securities. Therefore, the client requested $5,000 in compensation from National Securities Corp. or Fasciglione. Evidently, this arbitration is pending a resolution.
Evidently, on December 30, 2014, FINRA issued Case #: 2012034246201 sanctioning Michael Fasciglione for infractions. Specifically, FINRA issued a one-month suspension and a $5,000 fine. Notably, FINRA alleged that Fasciglione failed to make required regulatory disclosures.
Also, on March 22, 2022, a National Securities Corp. client filed FINRA Arbitration #: 22-00624 about Michael Fasciglione. Notably, the client alleged that Fasciglione made unsuitable transactions. Because of this, the client sustained damages on real estate securities. Therefore, the client requested $200,000 in compensation from National Securities Corp. or Fasciglione. Evidently, this arbitration is pending a resolution.
Moreover, a client of Aegis Capital Corp. contested Michael Fasciglione’s sales practices by filing FINRA Arbitration #: 22-00471. Allegedly, Fasciglione made unsuitable and excessive transactions, made unauthorized transactions, breached a fiduciary duty, was negligent, made misrepresentations, and made omissions. Supposedly, the stocks which Fasciglione sold or recommended had caused the client to sustain damages. Therefore, Aegis Capital Corp. opted to settle the matter on March 7, 2022 by compensating the client in the amount of $50,000.
Evidently, on February 3, 2022, a National Securities Corp. client filed FINRA Arbitration #: 22-00247 about Michael Fasciglione. Namely, the client alleged that Fasciglione made unsuitable transactions. Because of this, the client sustained damages on real estate securities. Therefore, the client requested $225,000 in compensation from National Securities Corp. or Fasciglione. Evidently, this arbitration is pending a resolution.
Have you sustained damages because of investing through Michael Fasciglione? If so, contact Soreide Law Group at (888) 760-6552 to talk with a securities attorney about potentially recovering your investment losses. Soreide Law Group, who has successfully recovered money for investors in all 50 states, represents clients on a contingency fee basis and advances all costs. Fasciglione and brokerage firms Fasciglione was employed by deny any and all allegations of sales practice violations.
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