10.0David P Neuman
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WARNING! Advisor Frank Venturelli SUSPENDED – Red Bank, NJ

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22
Jun

WARNING! Advisor Frank Venturelli SUSPENDED – Red Bank, NJ

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WARNING!  Advisor Frank Venturelli SUSPENDED – Red Bank, NJ

Frank Venturelli, formerly with First Standard Financial Company, Suspended by FINRA

Have you lost money with financial advisor Frank Venturelli from Red Bank, New Jersey?  We are looking into allegations made by FINRA (the Financial Industry Regulatory Authority) against Frank Venturelli. FINRA filed a complaint against Venturelli regarding allegations while he was affiliated with First Standard Financial Company.  FINRA suspended Venturelli for 11 months and ordered him to pay partial restitution of $30,000.

Venturelli was being investigated regarding allegations that he engaged in unsuitable and excessive trading (churning) in customers’ accounts.  FINRA alleged that Venturelli’s customers had accounts with a cost-to-equity ratios of 88% to 146% while at First Standard Financial Company  To put this in perspective, if an account had a cost equity ratio of 50%, that means the trading in the account would have to make a 50% profit annually just to break even from the costs of trading.

Frank Venturelli was a registered representative and financial advisor with First Standard Financial Company from November 2014 to September 2019.  He worked out of a branch office in Red Bank, New Jersey.  Venturelli has also been the subject of at least one customer complaint.

Broker-dealers like First Standard Financial Company have a responsibility to adequately supervise all representatives who are registered through their firm, including investments sold by their registered representatives.  Broker-dealers also must take steps to ensure that their financial advisors follow all securities rules and regulations.  When broker-dealers fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers. 

Israels & Neuman PLC is a securities and investment fraud law firm with offices in Denver, Colorado; Seattle, Washington; Phoenix, Arizona; and Ann Arbor, Michigan.  We represent investors in FINRA arbitration proceedings in all 50 states, including investors in New Jersey.  Our attorneys have represented over one thousand investors against many brokerage firms in the past, including against First Standard Financial Company.

IF YOU HAVE LOST MONEY WITH FRANK VENTURELLI OR FIRST STANDARD FINANCIAL COMPANY, AND WANT TO HEAR ABOUT ALL LEGAL OPTIONS, CONTACT ISRAELS & NEUMAN AT 720-599-3505.

Israels & Neuman, PLC is a private law firm and is not affiliated with any government or law enforcement agency. Any investigation referenced in this blog is independent in nature and is being conducted by our law firm privately, not in conjunction with any government or law enforcement agency. All information contained in this blog should be deemed statements of opinion derived from the author’s review of public records, not statements of fact. This blog is advertising material and does not create an attorney client relationship, nor does it constitute legal advice. Everyone’s situation is different and the question of whether or not you have a claim will vary on a case-by-case basis. In contingent representation, clients may still be liable for costs.
10.0David P Neuman

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