Marc Reda, with Spartan Capital Securities, Subject of FINRA Complaint
NEW YORK, NY – Have you lost money with financial advisor Marc A. Reda of New York, New York? We are investigating allegations made by FINRA, the Financial Industry Regulatory Authority, against Marc Reda. FINRA alleged that Reda made unsuitable recommendations by excessively trading (or churning) customers’ accounts. Reda had a strategy to trade ahead of corporate announcements, but FINRA deemed the trading to be too excessive.
Marc Reda has been a financial advisor and registered representative of Spartan Capital Securities from May 2016 to the present. He was also associated with PHX Financial. He worked at a branch office in New York, New York. Reda has been the subject of Twelve (12) customer complaints and was permitted to resign by PHX Financial in 2016.
Brokerage firms like Spartan Capital Securities have a responsibility to adequately supervise all representatives who are registered through their firm. Brokerage firms also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies. When brokerage firms 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; Phoenix, Arizona; Seattle, Washington; and Ann Arbor, Michigan. We represent investors in FINRA arbitration proceedings in all 50 states, including investors in New York in the past. Our attorneys have recovered millions of dollars for investors against many brokerage firms in the past.
Click to view FINRA Complaint: Reda, Marc FINRA Complaint
Click to view BrokerCheck: Reda, Marc BrokerCheck 6.16.21
If you lost money with Marc Reda or Spartan Capital Securities, please CONTACT US at (720) 599-3505 or (206) 795-5798 for a free evaluation of your case.