FINRA Sanctions Scott Martinson

Soreide Law Group is investigating possible investor claims against securities broker Scott Martinson (also known as Scott Randall Martinson) [CRD: 2509952, Melville, NY]. Evidently, FINRA sanctioned the securities broker, who worked for First Standard Financial Company LLC. Allegedly, Martinson failed to supervise registered representatives. Also, investors disputed Martinson’s sales practices. Here is a brief summary of FINRA’s allegations against Martinson.

FINRA Sanctions Martinson For Failure To Supervise

Mainly, on December 22, 2021, FINRA issued Case: 2020065035203 sanctioning Scott Martinson for infractions. Specifically, Martinson was issued a 2-month suspension as a securities principal, meaning FINRA disallowed him from maintaining an association with FINRA-member firms. Also, the financial regulator issued him a fine in the amount of $5,000. Notably, FINRA alleged that Martinson failed to supervise registered representatives. Notably, the regulator claims that the representatives made unsuitable transactions in client accounts.

Scott Martinson Disclosed Failure To Supervise Allegations By First Standard Financial Company LLC Client

Also, a client of First Standard Financial Company LLC contested Scott Martinson’s sales practices by filing FINRA Arbitration: 19-00550 on April 15, 2021. Allegedly, Martinson failed to supervise registered representatives. It is alleged that Scott Martinson caused the client to sustain damages on stocks. Therefore, the client asked for compensatory relief from First Standard Financial Company LLC or Martinson in the amount of $5,000 in this dispute, which the firm and broker denied.

GunnAllen Financial Investor Accused Martinson Of Excessive Trading

Evidently, a GunnAllen Financial client filed a complaint about Scott Martinson. Namely, the client alleged that Martinson engaged in excessive trading and made unsuitable investment recommendations. Because of this, the client allegedly sustained damages on over-the-counter equities. Therefore, on May 29, 2008, GunnAllen Financial settled this matter by paying the client $17,500 in damages. However, the firm and securities broker admit no liability in this settlement.

Scott Martinson Disclosed Poor Performance Allegations By GunnAllen Financial Client

Also, a client of GunnAllen Financial contested Scott Martinson’s sales practices, according to a complaint. Allegedly, Martinson recommended investments which poorly performed. Supposedly, Martinson caused the client to sustain damages on over-the-counter equities. Therefore, GunnAllen Financial opted to settle the matter, with no admission of liability, on July 6, 2006, by compensating the client in the amount of $4,500.

GunnAllen Financial Investor Accused Martinson Of Unsuitable Trading

Additionally, a GunnAllen Financial client filed NASD Arbitration: 05-06422 about Scott Martinson. Namely, the client alleged that Martinson engaged in unsuitable trading and overconcentrated accounts in certain investments. Because of this, the client allegedly sustained damages on options. Therefore, on January 25, 2006, GunnAllen Financial settled this matter by paying the client $22,000 in damages. However, the firm and Martinson admit no liability in this settlement.

Martinson Employment Information

• Martinson worked for Arive Capital Markets in Staten Island, NY, as a securities broker from March of 2021 to June of 2021.
• Martinson worked for First Standard Financial Company LLC in Melville, NY, as a securities broker from April of 2019 to September of 2019.
• Martinson worked for SW Financial in Melville, NY, as a securities broker from September of 2019 to January of 2021.

Did First Standard Financial Company LLC Securities Broker Scott Martinson Cause You To Experience Damages?

Have you experienced damages by investing with Scott Martinson? If so, contact Soreide Law Group at (888) 760-6552 and speak with a securities lawyer about a possible recovery of your investment losses. Soreide Law Group, who has successfully recovered money for hundreds of investors in all 50 states, represents clients on a contingency fee basis and advances all costs. The firm will take the time to fully understand your situation and will carefully explain your legal options. Scott Martinson and brokerage firms Martinson worked for deny any and all allegations of sales practice violations.