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BrokerCheck Report
THOMAS ANTHONY GALLO
Section Title
Report Summary
Broker Qualifications
Registration and Employment History
Disclosure Events
CRD# 1705791
1
2 - 3
5 - 6
7
Page(s)
About BrokerCheck®
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THOMAS A. GALLO
CRD# 1705791
This broker is not currently registered.
Report Summary for this Broker
This report summary provides an overview of the broker's professional background and conduct. Additionalinformation can be found in the detailed report.
Disclosure Events
All individuals registered to sell securities or provideinvestment advice are required to disclose customercomplaints and arbitrations, regulatory actions,employment terminations, bankruptcy filings, andcriminal or civil judicial proceedings.
Are there events disclosed about this broker? Yes
The following types of disclosures have beenreported:
Type Count
Regulatory Event 3
Customer Dispute 4
Broker Qualifications
This broker is not currently registered.
This broker has passed:
1 Principal/Supervisory Exam
3 General Industry/Product Exams
1 State Securities Law Exam
Registration History
This broker was previously registered with thefollowing securities firm(s):
SPARTAN CAPITAL SECURITIES, LLCCRD# 146251NEW YORK, NY05/2017 - 04/2018
B
NEWBRIDGE SECURITIES CORPORATIONCRD# 104065NEW YORK, NY06/2015 - 05/2017
B
CORINTHIAN PARTNERS, L.L.C.CRD# 38912NEW YORK, NY02/2014 - 05/2015
B
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Broker Qualifications
Registrations
This section provides the self-regulatory organizations (SROs) and U.S. states/territories the broker is currently registered and licensed with, thecategory of each license, and the date on which it became effective. This section also provides, for every brokerage firm with which the broker iscurrently employed, the address of each branch where the broker works.
This broker is not currently registered.
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Broker Qualifications
Industry Exams this Broker has Passed
This individual has passed 1 principal/supervisory exam, 3 general industry/product exams, and 1 state securities law exam.
This section includes all securities industry exams that the broker has passed. Under limited circumstances, a broker may attain a registrationafter receiving an exam waiver based on exams the broker has passed and/or qualifying work experience. Any exam waivers that the broker hasreceived are not included below.
Exam Category Date
Principal/Supervisory Exams
General Securities Principal Examination 02/26/1992Series 24B
Exam Category Date
General Industry/Product Exams
Securities Industry Essentials Examination 04/10/2018SIEB
Investment Banking Registered Representative Examination 09/04/2014Series 79B
General Securities Representative Examination 12/30/2009Series 7B
Exam Category Date
State Securities Law Exams
Uniform Securities Agent State Law Examination 01/18/2010Series 63B
Additional information about the above exams or other exams FINRA administers to brokers and other securities professionals can be found atwww.finra.org/brokerqualifications/registeredrep/.
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Broker Qualifications
Professional Designations
This section details that the representative has reported 0 professional designation(s).
No information reported.
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Registration and Employment History
Registration History
Registration Dates Firm Name CRD# Branch Location
The broker previously was registered with the following firms:
B 05/2017 - 04/2018 SPARTAN CAPITAL SECURITIES, LLC 146251 NEW YORK, NY
B 06/2015 - 05/2017 NEWBRIDGE SECURITIES CORPORATION 104065 NEW YORK, NY
B 02/2014 - 05/2015 CORINTHIAN PARTNERS, L.L.C. 38912 NEW YORK, NY
B 01/2010 - 02/2014 GARDEN STATE SECURITIES, INC. 10083 RED BANK, NJ
B 09/2001 - 03/2003 KIRLIN SECURITIES INC. 21210 SYOSSET, NY
B 12/1991 - 09/2001 M.S. FARRELL & COMPANY, INC. 24232 SYOSSET, NY
B 04/1989 - 12/1991 D. H. BLAIR & CO., INC. 6833 NEW YORK, NY
B 07/1987 - 05/1989 SHEARSON LEHMAN HUTTON INC. 7506
Employment History
Employment Employer Name Investment RelatedPosition Employer Location
This section provides up to 10 years of an individual broker's employment history as reported by the individual broker on the most recently filedForm U4.
Please note that the broker is required to provide this information only while registered with FINRA or a national securities exchangeand the information is not updated via Form U4 after the broker ceases to be registered. Therefore, an employment end date of"Present" may not reflect the broker's current employment status.
05/2017 - Present Spartan Capital Securities LLC REGISTEREDREPRESENTATIVE
Y NEW YORK, NY, UnitedStates
06/2015 - 05/2017 NEWBRIDGE SECURITIESCORPORATION
REGISTEREDREPRESENTATIVE
Y RUMSON, NJ, United States
01/2009 - 05/2017 23 MECHANIC ADV., LLC CONSULTANT N SHREWSBURY, NJ, UnitedStates
12/2009 - 02/2014 GARDEN STATE SECURITIES, INC. REGISTERED REP Y TINTON FALLS, NJ, UnitedStates
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Registration and Employment History
Other Business Activities
This section includes information, if any, as provided by the broker regarding other business activities the broker is currently engaged in either asa proprietor, partner, officer, director, employee, trustee, agent or otherwise. This section does not include non-investment related activity that isexclusively charitable, civic, religious or fraternal and is recognized as tax exempt.
Notis Global (NGBL), Director of Board of Directors, as of May 2017
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Disclosure Events
What you should know about reported disclosure events:
1. All individuals registered to sell securities or provide investment advice are required to disclose customer complaints and arbitrations,regulatory actions, employment terminations, bankruptcy filings, and criminal or civil judicial proceedings.
2. Certain thresholds must be met before an event is reported to CRD, for example: o A law enforcement agency must file formal charges before a broker is required to disclose a particular criminal event. o A customer dispute must involve allegations that a broker engaged in activity that violates certain rules or conduct governing the
industry and that the activity resulted in damages of at least $5,000. o
3. Disclosure events in BrokerCheck reports come from different sources: o As mentioned at the beginning of this report, information contained in BrokerCheck comes from brokers, brokerage firms and
regulators. When more than one of these sources reports information for the same disclosure event, all versions of the event willappear in the BrokerCheck report. The different versions will be separated by a solid line with the reporting source labeled.
o4. There are different statuses and dispositions for disclosure events:
o A disclosure event may have a status of pending, on appeal, or final.§ A "pending" event involves allegations that have not been proven or formally adjudicated.§ An event that is "on appeal" involves allegations that have been adjudicated but are currently being appealed.§ A "final" event has been concluded and its resolution is not subject to change.
o A final event generally has a disposition of adjudicated, settled or otherwise resolved.§ An "adjudicated" matter includes a disposition by (1) a court of law in a criminal or civil matter, or (2) an administrative
panel in an action brought by a regulator that is contested by the party charged with some alleged wrongdoing.§ A "settled" matter generally involves an agreement by the parties to resolve the matter. Please note that brokers and
brokerage firms may choose to settle customer disputes or regulatory matters for business or other reasons.§ A "resolved" matter usually involves no payment to the customer and no finding of wrongdoing on the part of the
individual broker. Such matters generally involve customer disputes.
For your convenience, below is a matrix of the number and status of disclosure events involving this broker. Further informationregarding these events can be found in the subsequent pages of this report. You also may wish to contact the broker to obtain furtherinformation regarding these events.
Final On AppealPending
Regulatory Event 0 3 0
Customer Dispute 1 3 N/A
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Disclosure Event Details
When evaluating this information, please keep in mind that a discloure event may be pending or involve allegations that are contested and havenot been resolved or proven. The matter may, in the end, be withdrawn, dismissed, resolved in favor of the broker, or concluded through anegotiated settlement for certain business reasons (e.g., to maintain customer relationships or to limit the litigation costs associated with disputingthe allegations) with no admission or finding of wrongdoing.
This report provides the information exactly as it was reported to CRD and therefore some of the specific data fields contained in the report maybe blank if the information was not provided to CRD.
Regulatory - Final
This type of disclosure event may involve (1) a final, formal proceeding initiated by a regulatory authority (e.g., a state securities agency, self-regulatory organization, federal regulatory such as the Securities and Exchange Commission, foreign financial regulatory body) for a violation ofinvestment-related rules or regulations; or (2) a revocation or suspension of a broker's authority to act as an attorney, accountant, or federalcontractor.
Disclosure 1 of 3
Reporting Source: Regulator
Regulatory Action InitiatedBy:
FINRA
Sanction(s) Sought:
Date Initiated: 02/12/2019
Docket/Case Number: 2017053921601
Employing firm when activityoccurred which led to theregulatory action:
Corinthian Partners, L.L.C.
Product Type: Promissory Note
Allegations: Without admitting or denying the findings, Gallo consented to the sanctions and tothe entry of findings that he contravened Sections 17(a)(2) and 17(a)(3) of theSecurities Act of 1933 (Securities Act), and thereby violated FINRA Rule 2010 bynegligently misrepresenting a material fact in the sale of promissory notes to twoinvestors. The findings stated that the purpose of the convertible promissory noteoffering (private placement) was to provide the company offering the promissorynote a bridge loan to finance its operations until it received anticipated long-termfinancing through a public offering. Gallo's member firm acted as placement agenton the private placement and Gallo received a total of $8,000 in compensation inconnection with the investments. Gallo negligently represented to the investorsthat the company had a firm commitment offering in place. The misrepresentationwas material because the company's payment of interest on the privateplacements and each investor's recovery of their principal investment depended onthe company raising significant capital in the anticipated public offering and/or onthe ability of the investors to sell the company stock that they received inconnection with the private placement. The public offering for the company wasconducted on a best-efforts basis and did not raise the anticipated level of capital.Consequently, the company stock price dropped significantly, and the twoinvestors lost money from the private placement, totaling approximately $33,337.
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Without admitting or denying the findings, Gallo consented to the sanctions and tothe entry of findings that he contravened Sections 17(a)(2) and 17(a)(3) of theSecurities Act of 1933 (Securities Act), and thereby violated FINRA Rule 2010 bynegligently misrepresenting a material fact in the sale of promissory notes to twoinvestors. The findings stated that the purpose of the convertible promissory noteoffering (private placement) was to provide the company offering the promissorynote a bridge loan to finance its operations until it received anticipated long-termfinancing through a public offering. Gallo's member firm acted as placement agenton the private placement and Gallo received a total of $8,000 in compensation inconnection with the investments. Gallo negligently represented to the investorsthat the company had a firm commitment offering in place. The misrepresentationwas material because the company's payment of interest on the privateplacements and each investor's recovery of their principal investment depended onthe company raising significant capital in the anticipated public offering and/or onthe ability of the investors to sell the company stock that they received inconnection with the private placement. The public offering for the company wasconducted on a best-efforts basis and did not raise the anticipated level of capital.Consequently, the company stock price dropped significantly, and the twoinvestors lost money from the private placement, totaling approximately $33,337.
Current Status: Final
Resolution: Acceptance, Waiver & Consent(AWC)
Resolution Date: 02/12/2019
Sanctions Ordered:
Does the order constitute afinal order based onviolations of any laws orregulations that prohibitfraudulent, manipulative, ordeceptive conduct?
No
Civil and Administrative Penalty(ies)/Fine(s)RestitutionSuspension
If the regulator is the SEC,CFTC, or an SRO, did theaction result in a finding of awillful violation or failure tosupervise?
No
(1) willfully violated anyprovision of the SecuritiesAct of 1933, the SecuritiesExchange Act of 1934, theInvestment Advisers Act of1940, the InvestmentCompany Act of 1940, theCommodity Exchange Act, orany rule or regulation underany of such Acts, or any ofthe rules of the MunicipalSecurities Rulemaking Board,or to have been unable tocomply with any provision ofsuch Act, rule or regulation?
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(1) willfully violated anyprovision of the SecuritiesAct of 1933, the SecuritiesExchange Act of 1934, theInvestment Advisers Act of1940, the InvestmentCompany Act of 1940, theCommodity Exchange Act, orany rule or regulation underany of such Acts, or any ofthe rules of the MunicipalSecurities Rulemaking Board,or to have been unable tocomply with any provision ofsuch Act, rule or regulation?
(2) willfully aided, abetted,counseled, commanded,induced, or procured theviolation by any person ofany provision of theSecurities Act of 1933, theSecurities Exchange Act of1934, the InvestmentAdvisers Act of 1940, theInvestment Company Act of1940, the CommodityExchange Act, or any rule orregulation under any of suchActs, or any of the rules ofthe Municipal SecuritiesRulemaking Board? or
(3) failed reasonably tosupervise another personsubject to your supervision,with a view to preventing theviolation by such person ofany provision of theSecurities Act of 1933, theSecurities Exchange Act of1934, the InvestmentAdvisers Act of 1940, theInvestment Company Act of1940, the CommodityExchange Act, or any rule orregulation under any suchActs, or any of the rules ofthe Municipal SecuritiesRulemaking Board?
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(3) failed reasonably tosupervise another personsubject to your supervision,with a view to preventing theviolation by such person ofany provision of theSecurities Act of 1933, theSecurities Exchange Act of1934, the InvestmentAdvisers Act of 1940, theInvestment Company Act of1940, the CommodityExchange Act, or any rule orregulation under any suchActs, or any of the rules ofthe Municipal SecuritiesRulemaking Board?
Capacities Affected: All capacities
Duration: 60 days
Start Date: 02/18/2019
End Date: 04/18/2019
Sanction 1 of 1
Sanction Type: Suspension
Monetary Related Sanction: Restitution
Total Amount: $33,337.00
Portion Levied againstindividual:
$33,337.00
Date Paid by individual:
Was any portion of penaltywaived?
No
Amount Waived:
Monetary Sanction 1 of 2
Payment Plan: deferred; plus interest
Is Payment Plan Current:
Monetary Sanction 2 of 2
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Monetary Related Sanction: Civil and Administrative Penalty(ies)/Fine(s)
Total Amount: $10,000.00
Portion Levied againstindividual:
$10,000.00
Date Paid by individual:
Was any portion of penaltywaived?
No
Amount Waived:
Payment Plan: deferred
Is Payment Plan Current:
Disclosure 2 of 3
i
Reporting Source: Regulator
Regulatory Action InitiatedBy:
NASD NKA FINRA
Sanction(s) Sought:
Other Sanction(s) Sought:
Date Initiated: 04/11/2006
Docket/Case Number: 04-03406
Employing firm when activityoccurred which led to theregulatory action:
Product Type: No Product
Other Product Type(s):
Allegations: RESPONDENT FAILED TO COMPLY WITH AN ARBITRATION AWARD ORSETTLEMENT AGREEMENT OR TO SATISFACTORILY RESPOND TO AN NASDREQUEST TO PROVIDE INFORMATION CONCERNING THE STATUS OFCOMPLIANCE.
Current Status: Final
Resolution: Other
Does the order constitute afinal order based onviolations of any laws orregulations that prohibitfraudulent, manipulative, ordeceptive conduct?
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Resolution Date: 04/11/2006
Sanctions Ordered:
Other Sanctions Ordered:
Sanction Details: PURSUANT TO ARTICLE VI, SECTION 3 OF NASD BY-LAWS, AND NASD RULE9510 SERIES, RESPONDENT'S NASD REGISTRATION IS SUSPENDED APRIL11, 2006 FOR FAILING TO COMPLY WITH AN ARBITRATION AWARD ORSETTLEMENT AGREEMENT OR TO SATISFACTORILY RESPOND TO AN NASDREQUEST TO PROVIDE INFORMATION CONCERNING THE STATUS OFCOMPLIANCE.SUSPENSION LIFTED SEPTEMBER 17, 2008; FINRA RECEIVEDNOTIFICATION THAT THE AWARD OR SETTLEMENT AGREEMENT HAS BEENSATISFIED OR SATISFACTORY INFORMATION SHOWING VALID REASONSFOR NON-COMPLIANCE.
Does the order constitute afinal order based onviolations of any laws orregulations that prohibitfraudulent, manipulative, ordeceptive conduct?
No
Suspension
iReporting Source: Broker
Regulatory Action InitiatedBy:
FINRA
Sanction(s) Sought: Suspension
Date Initiated: 04/11/2006
Docket/Case Number: 04-03406
Employing firm when activityoccurred which led to theregulatory action:
KIRLIN SECURITIES
Product Type: Other: PRIVATE PLACEMENT
Allegations: FAILURE TO COMPLY WITH AN ARBITRATION AWARD OR SETTLEMENTAGREEMENT OR TO SATISFACTORILY RESPOND TO AN NASD REQUEST TOPROVIDE INFORMATION CONCERNING THE STATUS OF COMPLIANCE.
Current Status: Final
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Resolution: AWARD
Resolution Date: 01/11/2006
Sanctions Ordered:
Broker Statement THE FOLLOWING COMMENTS ARE IN REFERENCE TO QUESTION 14E (4),WHICH INDICATES A RESPONSE TO CONFIRM THAT A SUSPENSION WITH AMEMBER FIRM HAS BEEN IMPLEMENTED ON MY LICENSE FOR THEPERIOD OF APRIL 11, 2006 AND ENDING ON SEPTEMBER 17, 2008.
ON MARCH 25, 2003 I RESIGNED ALL OF MY POSITIONS AT KIRLINSECURITIES TO PURSUE OTHER BUSINESS INTERESTS OUTSIDE OF THESECURITIES INDUSTRY. MY SECURITIES LICENSES LAPSED IN MARCH,2005.
THE "SUSPENSION" IMPOSED BY FINRA RELATES TO THE PAYMENT OF ANARBITRATION AWARD WHICH WAS RENDERED LONG AFTER MYSECURITIES LICENSES HAD LAPSED. AS FINRA'S RECORDS REFLECT,THE AWARD WAS PAID IN FULL. I AM AT A LOSS TO UNDERSTAND WHY ASUSPENSION WAS EVER IMPOSED.
TOM GALLO
Does the order constitute afinal order based onviolations of any laws orregulations that prohibitfraudulent, manipulative, ordeceptive conduct?
No
Suspension
Capacities Affected: ALL CAPACITIES
Duration: 2 YEARS
Start Date: 04/11/2006
End Date: 09/17/2008
Sanction 1 of 1
Sanction Type: Suspension
Disclosure 3 of 3
i
Reporting Source: Regulator
Regulatory Action InitiatedBy:
NATIONAL ASSOCIATION OF SECURITIES DEALERS, INC.
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Sanction(s) Sought:
Date Initiated: 10/22/2001
Docket/Case Number: C10010129
Employing firm when activityoccurred which led to theregulatory action:
M.S. FARRELL & COMPANY, INC.
Product Type: No Product
Allegations: NASD RULES 1120(A),2110,3010(B)(1),3070,3070(A)(7), 3070(A)(8), 3070(C) -WITHOUT ADMITTING OR DENYING THE ALLEGATIONS, THE RESPONDENTCONSENTED TO THE ENTRY OF FINDINGS THAT, A MEMBER FIRM, ACTINGTHROUGH GALLO, CONTINUED TO CONDUCT A SECURITIES BUSINESSALTHOUGH THE FIRM'S MEMBERSHIP HAD BEEN SUSPENDED FORFAILURE TO PAY AN ARBITRATION AWARD;A MEMBER FIRM, ACTINGTHROUGH GALLO, FAILED TO REPORT TO THE NASD STATISTICAL ANDSUMMARY INFORMATION REGARDING CUSTOMER COMPLAINTSRECEIVED BY THE FIRM, FAILED TO REPORT TO THE NASD ANARBITRATION THE FIRM SETTLED FOR AN AMOUNT EXCEEDING $25,000,AND FAILED TO REPORT TO THE NASD CUSTOMER CLAIMS THAT THE FIRMSETTLED FOR AMOUNTS EXCEEDING $25,000; A MEMBER FIRM, ACTINGTHROUGH GALLO, PERMITTED INDIVIDUALS ASSOCIATED WITH THE FIRMTO ACT AS REGISTERED PERSONS WHILE INACTIVE DUE TO FAILURE TOCOMPLETE THE REGULATORY ELEMENT OF THE NASD'S CONTINUINGEDUCATION REQUIREMENT; ACTED AS A REGISTERED PERSON WHILE HISREGISTRATION STATUS WAS INACTIVE DUE TO HIS FAILURE TOCOMPLETE THE REGULATORY ELEMENT OF THE NASD'S CONTINUINGEDUCATION REQUIREMENT; AND A MEMBER FIRM,ACTING THROUGHGALLO, FAILED TO ESTABLISH AND MAINTAIN WRITTEN SUPERVISORYPROCEDURES REASONABLY DESIGNED TO ENSURE COMPLIANCE WITHTHE REGULATORY ELEMENT OF THE NASD'S CONTINUING EDUCATIONREQUIREMENTS.
Current Status: Final
Resolution: Acceptance, Waiver & Consent(AWC)
Resolution Date: 10/22/2001
Sanctions Ordered:
Regulator Statement CENSURED AND FINED $25,000, JOINTLY AND SEVERALLY. FINES PAID07/05/2002.
CensureCivil and Administrative Penalty(ies)/Fine(s)
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iReporting Source: Broker
Regulatory Action InitiatedBy:
NATIONAL ASSOCIATION OF SECURITIES DEALERS, INC.
Sanction(s) Sought: Censure
Other Sanction(s) Sought:
Date Initiated: 10/22/2001
Docket/Case Number: C10010129
Employing firm when activityoccurred which led to theregulatory action:
M.S. FARRELL & COMPANY, INC.
Product Type: No Product
Other Product Type(s):
Allegations: WITHOUT ADMITTING OR DENYING THE ALLEGATIONS, AND SOLELY FORTHE PURPOSES OF PROCEEDING NUMBER C10010129, RESPONDENTCONSENTED TO A FINDING THAT NASD RULES 1120(A), 2110, 3010(B)(1),3070, 3070(A)(7), 3070(A)(8) WERE VIOLATED.
Current Status: Final
Resolution: Acceptance, Waiver & Consent(AWC)
Resolution Date: 10/22/2001
Sanctions Ordered:
Other Sanctions Ordered:
Sanction Details: CENSURED AND FINED 25,000.00.
CensureMonetary/Fine $25,000.00
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Customer Dispute - Award / Judgment
This type of disclosure event involves a final, consumer-initiated, investment-related arbitration or civil suit containing allegations of sales practiceviolations against the broker that resulted in an arbitration award or civil judgment for the customer.
Disclosure 1 of 3
Reporting Source: Regulator
Employing firm whenactivities occurred which ledto the complaint:
Allegations:
KIRLIN SECURITIES, INC., M.S. FARRELL & CO., INC.
UNSUITABILITY, BREACH OF CONTRACT, MISREPRESENTATION, BREACHOF FIDUCIARY DUTY.
Product Type: Other
Other Product Type(s): STOCK
Alleged Damages: $165,864.42
Arbitration/Reparation Claimfiled with and Docket/CaseNo.:
NASD - CASE #04-03406
Date Notice/Process Served: 05/03/2004
Arbitration Pending? No
Disposition: Award
Disposition Date: 01/11/2006
Disposition Detail: RESPONDENT IS JOINTLY AND SEVERALLY LIABLE FOR AND SHALL PAY TOCLAIMANT COMPENSATORY DAMAGES IN THE AMOUNT OF $50,000.00PLUS INTEREST.
Arbitration Information
iReporting Source: Firm
Employing firm whenactivities occurred which ledto the complaint:
Allegations:
M.S. FARRELL
SUITABILITY AND BREACH OF FIDUCIARY DUTIES
Product Type: Other
Other Product Type(s): PRIVATE PLACEMENT
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Alleged Damages: $165,564.42
Date Complaint Received: 06/03/2004
Complaint Pending? No
Status:
Status Date: 06/03/2004
Settlement Amount:
Individual ContributionAmount:
Arbitration/Reparation Claimfiled with and Docket/CaseNo.:
NASD ARBITRATION #04-3406NY
Date Notice/Process Served: 06/03/2004
Arbitration Pending? Yes
Customer Complaint Information
Arbitration Information
Arbitration/Reparation
iReporting Source: Broker
Employing firm whenactivities occurred which ledto the complaint:
Allegations:
KIRLIN SECURITIES, INC. ; M.S. FARRELL & CO
SUITABILITY, BREACH OF CONTRACT, MISREPRESENTATION, BREACH OFFIDUCIARY DUTY
Product Type: Other: PRIVATE PLACEMENT
Alleged Damages: $165,864.82
Is this an oral complaint? No
Is this a written complaint? Yes
Is this an arbitration/CFTCreparation or civil litigation?
Yes
Arbitration/Reparation forumor court name and location:
FINRA - OH
Docket/Case #: 04-03406
Filing date ofarbitration/CFTC reparationor civil litigation:
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Date Complaint Received: 06/03/2004
Complaint Pending? No
Status:
Status Date: 01/11/2006
Settlement Amount: $50,000.00
Individual ContributionAmount:
$50,000.00
Date Notice/Process Served: 06/03/2004
Arbitration Pending? No
Disposition: Award to Customer
Disposition Date: 01/11/2006
Monetary CompensationAmount:
$50,000.00
Customer Complaint Information
Arbitration Information
Individual ContributionAmount:
$50,000.00
Arbitration Award/Monetary Judgment (for claimants/plaintiffs)
Filing date ofarbitration/CFTC reparationor civil litigation:
05/03/2004
Arbitration/CFTC reparationclaim filed with (FINRA, AAA,CFTC, etc.):
05/03/2004
Docket/Case #: 04-03406
Disclosure 2 of 3
i
Reporting Source: Regulator
Employing firm whenactivities occurred which ledto the complaint:
Allegations:
M.S. FARRELL & CO., INC.
BREACH OF CONTRACT; COMMON LAW FRAUD; BREACH OF FIDUCIARYDUTY; BREACH OF THE DUTY OF GOOD FAITH AND FAIR DEALING;NEGLIGENCE; CHURNING
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Product Type: Mutual Fund(s)
Other Product Type(s): STOCKS
Alleged Damages: $182,759.00
Arbitration/Reparation Claimfiled with and Docket/CaseNo.:
NASD - CASE #01-02243
Date Notice/Process Served: 04/30/2001
Arbitration Pending? No
Disposition: Award
Disposition Date: 08/30/2002
Disposition Detail: RESPONDENT IS JOINTLY AND SEVERALLY LIABLE AND SHALL PAY TOCLAIMANT $32,783.60 AS COMPENSATORY DAMAGES, PLUS INTEREST.
Arbitration Information
iReporting Source: Broker
Employing firm whenactivities occurred which ledto the complaint:
Allegations:
MS FARRELL & CO.
BREACH OF FIDUCIARY DUTY, FAILURE TO SUPERVISE.
Product Type: Equity - OTC
Other Product Type(s): MUTUAL FUNDS
Alleged Damages: $182,759.00
Date Complaint Received: 04/30/2001
Complaint Pending? No
Status:
Status Date: 04/30/2001
Settlement Amount:
Individual ContributionAmount:
Customer Complaint Information
Arbitration Information
Arbitration/Reparation
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Arbitration/Reparation Claimfiled with and Docket/CaseNo.:
NASD CASE NUMBER 01-02243
Date Notice/Process Served: 04/30/2001
Arbitration Pending? No
Disposition: Award to Customer
Disposition Date: 08/30/2002
Monetary CompensationAmount:
$32,783.60
Broker Statement RESPONDENTS ARE JOINTLY LIABLE AND SHALL PAY TO THE CLAIMANTTHE SUM OF $32,783.60 PLUS INTEREST.I WAS NOT THE CUSTOMER'S BROKER AND I NEVER HAD ANY CONTACTWITH THE CUSTOMER. I WAS NOT NAMED IN THE ORIGINAL STATEMENTOF CLAIM, BUT WAS ADDED LATER ON AS BEING THE BROKER'SSUPERVISOR.
Arbitration Information
Individual ContributionAmount:
$3,500.00
Disclosure 3 of 3
i
Reporting Source: Regulator
Employing firm whenactivities occurred which ledto the complaint:
Allegations:
D.H. BLAIR & CO., INC.
SUITABILITY; MISREPRESENTATION; ACCOUNTRELATED - FAILURE TO SUPERVISE; ACCOUNT RELATED-OTHER
Product Type: Penny Stock(s)
Alleged Damages: $73,000.00
Arbitration/Reparation Claimfiled with and Docket/CaseNo.:
NASD - CASE #93-04751
Date Notice/Process Served: 11/29/1993
Arbitration Pending? No
Disposition: Award
Arbitration Information
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Disposition: Award
Disposition Date: 10/05/1994
Disposition Detail: THE RESPONDENT THOMAS GALLO BE AND HEREBY IS LIABLE ANDSHALLPAY TO THE CLAIMANTS THE SUM OF $31,000.00.
iReporting Source: Firm
Employing firm whenactivities occurred which ledto the complaint:
Allegations:
D.H. BLAIR & CO., INC.
MISREPRESENTATION AND UNSUITABLERECOMMENDATIONS ALLEGED DAMAGES ARE $73,000.
Product Type:
Alleged Damages: $73,000.00
Date Complaint Received:
Complaint Pending? No
Status:
Status Date:
Settlement Amount:
Individual ContributionAmount:
Arbitration/Reparation Claimfiled with and Docket/CaseNo.:
National Association of Securities Dealers, Inc.; 93-04751
Date Notice/Process Served: 11/29/1993
Arbitration Pending? Yes
Firm Statement N/ANot Provided
Customer Complaint Information
Arbitration Information
Arbitration/Reparation
iReporting Source: Broker
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Employing firm whenactivities occurred which ledto the complaint:
Allegations:
D.H. BLAIR & CO., INC.
UNSUITABILITY AND RELATED CLAIMS.
Product Type: Penny Stock(s)
Alleged Damages: $73,000.00
Date Complaint Received: 11/15/1993
Complaint Pending? No
Status:
Status Date: 11/15/1993
Settlement Amount:
Individual ContributionAmount:
Arbitration/Reparation Claimfiled with and Docket/CaseNo.:
NATIONAL ASSOCIATION OF SECURITIES DEALERS, INC.; 93-04751
Date Notice/Process Served: 11/29/1993
Arbitration Pending? No
Disposition: Award to Customer
Disposition Date: 10/05/1994
Monetary CompensationAmount:
$38,000.00
Customer Complaint Information
Arbitration Information
Individual ContributionAmount:
$31,000.00
Arbitration/Reparation
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Customer Dispute - Pending
This type of disclosure event involves (1) a pending consumer-initiated, investment-related arbitration or civil suit that contains allegations of salespractice violations against the broker; or (2) a pending, consumer-initiated, investment-related written complaint containing allegations that thebroker engaged in, sales practice violations resulting in compensatory damages of at least $5,000, forgery, theft, or misappropriation, orconversion of funds or securities.
Disclosure 1 of 1
Reporting Source: Firm
Employing firm whenactivities occurred which ledto the complaint:
Allegations:
Corinthian Partners, LLC
Misrepresentation or misleading information. Unsuitable recommendations.
Product Type: Other: private placement
Alleged Damages: $35,000.00
Date Complaint Received: 06/09/2017
Complaint Pending? Yes
Settlement Amount:
Individual ContributionAmount:
Customer Complaint Information
Alleged Damages AmountExplanation (if amount notexact):
$50,000 originally but he received $15,000 and the security is still trading.
Is this an oral complaint? No
Is this a written complaint? Yes
Is this an arbitration/CFTCreparation or civil litigation?
No
iReporting Source: Broker
Employing firm whenactivities occurred which ledto the complaint:
Allegations:
Corinthian Partners, LLC
Misrepresentation or misleading information. Unsuitable recommendations.
Other: Private Placement
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Product Type: Other: Private Placement
Alleged Damages: $35,000.00
Date Complaint Received: 07/10/2017
Complaint Pending? Yes
Settlement Amount:
Individual ContributionAmount:
Broker Statement Mr. Gallo has not seen a copy of the complaint
Customer Complaint Information
Alleged Damages AmountExplanation (if amount notexact):
$50,000 originally but he received $15,000 and the security is still trading.
Is this an oral complaint? No
Is this a written complaint? Yes
Is this an arbitration/CFTCreparation or civil litigation?
No
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