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Nicholas Armellino of GMS Group in New Jersey is Barred by FINRA
Israels & Neuman, a securities arbitration law firm is looking into allegations made by FINRA against Nicholas Armellino, who formerly was a representative with GMS Group. He worked in a Jersey City office.
FINRA allegedly received a “regulatory” tip, which prompted an investigation into Armellino. According to FINRA’s AWC, Mr. Armellino originally cooperated with FINRA’s investigation, but by April 2025, he ceased doing so. That led to him being barred from the securities industry.
History of Nicholas Armellino
Nicholas Armellino had been a representative of GMS Group from May 2007 to May 2025. Armellino had been affiliated with a number of other firms from 1999 to 2007. Armellino had previously been the subject of seven customer complaints, although two of those were denied. Armellino was also disbarred as an attorney in New Jersey in 1997.
GMS Group’s Potential Responsibility
Under FINRA Rule 3110, brokerage firms like GMS Group have to reasonably supervise their representatives. If GMS Group failed to adequately monitor Armellino, it could be liable for any investor harm.
Our firm represents investors throughout the country as well as New Jersey, who have been victims of broker misconduct, unsuitable investment recommendations, and fraud. If you were a client of Nicholas Armellino and believe he acted improperly, you may be entitled to recover losses through FINRA arbitration.