Mickey Schreiber, with Aegis Capital, Suspended by FINRA
RED BANK, NEW JERSEY
Have you been a client of financial advisor M.B. Mickey Schreiber, with Aegis Capital in Red Bank, New Jersey? Our securities arbitration firm is looking into allegations made by FINRA against Mickey Schreiber, who was recently suspended by FINRA for three months and fined $5,000.
According to FINRA’s allegations, Mickey Schreiber engaged in discretionary trading in customer accounts – where a broker or advisor makes trades in an account without contacting the customer prior to the trades – on 295 occasions. He also mismarked trade tickets as being “unsolicited” – meaning the client called the broker to make a specific trade – when in reality the trades were “solicited” (recommended by the broker).
From August 2016 to the present, Mickey Schreiber has been a representative of Aegis Capital and worked in Aegis Capital’s Red Bank, New Jersey office. He has also been the subject of four customer complaints, he was terminated by another firm in 2007, and was suspended for 60 days by FINRA in 2010.
Brokerage firms like Aegis Capital must adequately supervise its advisors. The advisors also have an obligation to follow FINRA rules and must get prior written permission to engage in discretionary trading.
Israels & Neuman has represented over one thousand investors against numerous brokerage firms, including claims against Aegis Capital. Although we have offices in Denver, Seattle, and Phoenix, we represent investors throughout the country, including investors in New Jersey and New York.