Did you lose money investing with Adam Belardino (CRD# 5221927)?
Galvin Legal, PLLC is launching an investigation on behalf of investors who may have suffered losses investing with Adam Belardino. If you suffered losses investing with Adam Belardino, 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 25, 2023, Adam Belardino’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
7 Customer Disputes
2 Regulatory Events
1 Employment Separation After Allegations
October 5, 2021 – An OHO decision became final in which Belardino was barred from association with any FINRA member in all capacities. The sanction was based on findings that Belardino failed to provide on-the-record testimony requested by FINRA during the course of an investigation initiated after his member firm submitted a Uniform Termination Notice for Securities Industry Registration (Form U5) disclosing that it had terminated him in connection with customer complaints it was reviewing. The findings stated that the customer complaints included allegations that Belardino had misrepresented account values, traded excessively and did not liquidate accounts as requested by his customers. FINRA requested on-the-record testimony after initially receiving only a partial response to its request for information. (FINRA Case #2019062347102)
Current and Previous Registrations
03/25/2017 – 04/16/2019 MML INVESTORS SERVICES, LLC (CRD#:10409) ELMSFORD, NY
10/23/2007 – 03/25/2017 MSI FINANCIAL SERVICES, INC. (CRD#:14251) ELMSFORD, NY
05/09/2007 – 10/15/2007 METLIFE SECURITIES INC. (CRD#:14251) SHELTON, CT
05/09/2007 – 07/09/2007 METROPOLITAN LIFE INSURANCE COMPANY (CRD#:4095) ISELIN, NJ
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 Adam Belardino 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.
