Did you lose money investing with Abdul Rahmani (CRD# 4269583)?
Galvin Legal, PLLC is launching an investigation on behalf of investors who may have suffered losses investing with Abdul Rahmani. If you suffered losses investing with Abdul Rahmani, then Galvin Legal, PLLC may be able to help you recover your losses in a Financial Industry Regulatory Authority (“FINRA“) arbitration claim.
If you suffered losses and would like a free consultation with a securities attorney, then please call Galvin Legal, PLLC at 1-800-405-5117.
As of January 21, 2023, Abdul Rahmani’s FINRA BrokerCheck Report contains the following:
BARRED: FINRA has barred this individual from acting as a broker or otherwise associating with a broker-dealer firm.
Disclosure Events
1 Customer Dispute
1 Regulatory Event
1 Investigation
3 Employment Separation After Allegations
3 Judgment(s)/Liens
November 2, 2021 – An Order Accepting Offer of Settlement was issued in which Rahmani was barred from association with any FINRA member in all capacities. Without admitting or denying the allegations, Rahmani consented to the sanction and to the entry of findings that he engaged in outside business activities (OBAs) through and on behalf of an entity that advertised its business as marketing and selling shares of pre-initial public offering (IPO) companies to investors without providing prior written notice to his member firm. The findings stated that Rahmani acted as an employee or independent contractor for the entity by soliciting prospective investors, meeting with at least one prospective investor, using an entity email account and using a debit card to withdraw funds from a bank account associated with the entity. In addition, Rahmani told the firm that he was not involved in the entity. The findings also stated that Rahmani failed to cooperate with FINRA’s investigation of his undisclosed OBAs. Rahmani provided incomplete information to FINRA in response to its requests for information. Although FINRA requested that Rahmani identify all email addresses he used, as well as all bank accounts he controlled, he failed to disclose an email address that he used with an entity domain name. Rahmani also failed to disclose the existence of bank accounts that he opened at approximately the same time the entity was formed. The findings also included that Rahmani provided false or misleading information to FINRA during on-the-record testimony. Rahmani testified that he had no involvement with the entity, that he never used an email address associated with the entity–despite the fact that he had already produced to FINRA emails sent to and from his email account with an entity domain name—and that he had closed multiple bank accounts that he initially failed to disclose to FINRA. FINRA found that Rahmani also failed to provide information and documents requested by FINRA during its investigation. Following Rahmani’s on-the-record testimony, FINRA requested information and documents pertaining to the bank accounts that Rahmani opened. However, Rahmani failed to provide FINRA with all the requested information or documents for two of the accounts and failed to provide any information or documents whatsoever related to the remaining accounts. (FINRA Case #2019063626703)
Current and Previous Registrations
06/01/2018 – 08/17/2020 JOSEPH STONE CAPITAL L.L.C. (CRD#:159744) MINEOLA, NY
12/20/2017 – 05/17/2018 WORDEN CAPITAL MANAGEMENT LLC (CRD#:148366) Melville, NY
FINRA expelled the firm on 07/25/2022
08/22/2016 – 12/18/2017 SW FINANCIAL (CRD#:145012) Melville, NY
09/30/2013 – 09/08/2016 CORINTHIAN PARTNERS, L.L.C. (CRD#:38912) NEW YORK, NY
07/18/2008 – 04/30/2013 MML INVESTORS SERVICES, LLC (CRD#:10409) NEW YORK, NY
02/02/2007 – 07/31/2008 AMERITAS INVESTMENT CORP. (CRD#:14869) NEW YORK, NY
03/18/2003 – 06/29/2006 SIGNATOR INVESTORS, INC. (CRD#:468) BOSTON, MA
11/17/2000 – 03/26/2003 METLIFE SECURITIES INC. (CRD#:14251) SPRINGFIELD, MA
11/17/2000 – 03/26/2003 METROPOLITAN LIFE INSURANCE COMPANY (CRD#:4095) NEW YORK, NY
If you suffered losses and would like a free consultation with a securities attorney, then please call Galvin Legal, PLLC at 1-800-405-5117.
Due Diligence Requirement
FINRA requires broker’s to conduct due diligence on investments and to conduct a suitability analysis when recommending securities to a customer that takes into account the customer’s knowledge and experience. FINRA Rule 2111(a) states that “a member or an associated person must have a reasonable basis to believe that a recommended transaction or investment strategy involving a security or securities is suitable for the customer, based on the information obtained through the reasonable diligence of the member or associated person to ascertain the customer’s investment profile. A customer’s investment profile includes, but is not limited to, the customer’s age, other investments, financial situation and needs, tax status, investment objectives, investment experience, investment time horizon, liquidity needs, risk tolerance, and any other information the customer may disclose to the member or associated person in connection with such recommendation.”
Rule 2111 is composed of three main obligations: reasonable-basis suitability, customer-specific suitability, and quantitative suitability. Brokers and the brokerage firms they work for that fail to conduct adequate due diligence on investments they recommend or that make unsuitable recommendations can be held responsible for the customer’s losses in a FINRA arbitration claim.
If you suffered losses and would like a free consultation with a securities attorney, then please call Galvin Legal, PLLC at 1-800-405-5117.
Request a Free Consultation with a Securities Attorney
If you suffered losses investing with Abdul Rahmani and would like a free consultation with a securities attorney, then please call Galvin Legal, PLLC at 1-800-405-5117.
This information is all publicly available and is being provided to you by Galvin Legal, PLLC.
Galvin Legal, PLLC is a national securities arbitration, securities mediation, securities litigation, securities fraud, securities regulation and compliance, and investor protection law practice. For more information on Galvin Legal, PLLC and its representation of investors, please visit www.galvinlegal.com or call 1-800-405-5117.
