SAM AZIZ Barred/Coastal Equities Ordered to Pay $279,000 – Dublin, OH
Coastal Equities Ordered to Pay $279,000 Regarding Sam Aziz
Have you lost money with financial advisor Sam Aziz of Dublin, Ohio? We are continuing to look into allegations made by FINRA, the Financial Industry Regulatory Authority, against Sam Aziz. In 2019, FINRA barred Aziz from the securities industry after he failed to respond to a FINRA investigation. FINRA also investigated his former brokerage firm, Coastal Equities, regarding allegations that Coastal Equities failed to adequately supervise him. To settle these allegations, Coastal Equities agreed to pay restitution of $270,320 plus interest of $9,588.80.
FINRA was investigating Aziz based on allegations that he engaged in excessive trading (or churning), the unsuitable use of margin, and whether he attempted to settle a case without disclosing such to his brokerage firm.
Sam Aziz was a financial advisor and registered representative of Coastal Equities from September 2015 to July 2018. He also was affiliated with Wells Fargo from December 2012 to September 2015 and with David A. Noyes & Co. from July 2018 to November 2018. He worked at a branch office Dublin, Ohio. He has been the subject of three previous customer disputes, and he was also terminated by another firm in 1997.
Brokerage firms like Wells Fargo and Coastal Equities 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; Ann Arbor, Michigan; and Seattle, Washington. We represent investors in FINRA arbitration proceedings in all 50 states, including investors throughout Ohio. Our attorneys have represented over one thousand investors against many brokerage firms in the past, including against Wells Fargo.
If you lost money with Sam Aziz, Wells Fargo, or Coastal Equities, please CONTACT US at 720-599-3505 for a free evaluation of your case.
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