INVESTIGATION of THOMAS STAPPAS – Parsippany, NJ
Thomas Stappas, formerly with Summit Equities, Barred from Securities Industry
Have you lost money with financial advisor Thomas Stappas from Parsippany, New Jersey? We are looking into allegations made by FINRA (the Financial Industry Regulatory Authority) against Thomas Stappas. FINRA barred Stappas from the securities industry after he failed to respond to an investigation. Stappas was being investigated regarding allegations that he engaged in outside business activities and recommended private securities transactions to customers of his former brokerage firm, Summit Equities.
Thomas Stappas (CRD #855198) was a registered representative and financial advisor with Summit Equities from 1993 to July 2018. He worked out of a branch office in Parsippany, New Jersey. He was also terminated by Summit Equities regarding these allegations.
Broker-dealers like Summit Equities 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; 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.
Click to view: Stappas, Thomas FINRA AWC
Click to view: Stappas, Thomas BrokerCheck 9.16.19
If you have lost money with Thomas Barry Stappas and Summit Equities, and want to hear about ALL legal options, please CONTACT ISRAELS & NEUMAN at 720-599-3505.