FINRA Bars Michael Fasciglione after 23 Investor Disputes 

The White Law Group is investigating potential securities claims involving former advisor, Michael Fasciglione. 

According to public records, the Financial Industry Regulatory Authority has barred former advisor Michael Fasciglione from working in the securities industry as of January 2, 2024. 

Fasciglione reportedly has multiple pending customer complaints filed against him. Allegations include unsuitable investments, breach of contract, breach of fiduciary duty, negligence, among others. 

The bar reportedly followed FINRA’s Notice of Suspension and Suspension from Association letters dated September 27, 2023 and October 30, 2023.  Fasciglione reportedly failed to request termination of his suspension within three months of the date of the Notice of Suspension; he is automatically barred from association with any FINRA member in all capacities. 

FINRA BrokerCheck – Michael Fasciglione 

According to this FINRA BrokerCheck report, Michael Fasciglione was affiliated with the following firms during his career, among others: 

09/13/2017 – 03/15/2023, AEGIS CAPITAL CORP. (CRD#:15007), Garden City, NY,
B, 01/30/2007 – 09/29/2017, National Securities Corp. (CRD#:7569), MINEOLA, NY
B, 05/13/2004 – 02/05/2007, FIRST MONTAUK SECURITIES CORP. (CRD#:13755), PORT WASHINGTON, NY 

The FINRA BrokerCheck tool is a free online tool that allows investors to research and verify the background and credentials of financial brokers, brokerage firms, and investment advisors registered with FINRA. Investors can use the tool to verify if a broker or brokerage firm is registered with FINRA, review their employment history, licensing status, and any regulatory actions or complaints filed against them. 

Filing a Complaint against your Brokerage Firm     

When brokers abuse client accounts and conduct transactions that violate securities laws, the brokerage firm they are working with may be liable for investment losses through FINRA Arbitration. Brokerage firms that fail to monitor the business activities of their employees may be liable for investment losses due to negligent supervision for the misconduct of their employees. 

 Class Action vs. Individual FINRA Arbitration Lawsuit  

You may wonder whether a large class action lawsuit is a better litigation option than an individual FINRA arbitration case.  The answer depends on many factors, but typically if the loss sustained is large (say larger than $100,000), an individual arbitration claim is likely a better option.  Class actions as a recovery option are more appropriate for grouping large numbers of individuals who have small claims – too small to generally pursue individually. 

Free Consultation with a Securities Attorney 

If you have suffered investment losses with Michael Fasciglione, the securities attorneys at the White Law Group may be able to help you. For a free consultation with a securities attorney, please call (888) 637-5510. 
 
The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm dedicated to helping investors in claims in all 50 states against their financial professional or brokerage firm. Since the firm launched in 2010, it has handled over 700 FINRA arbitration cases.    

Our firm represents investors in all types of securities related claims, including claims involving stock fraud, broker misrepresentation, churning, unsuitable investments, selling away, and unauthorized trading, among many others.            

With over 30 years of securities law experience, The White Law Group has the expertise to help investors to recover their securities fraud losses.