Former Spartan Capital Securities Broker Ronald G. Smith Barred by FINRA
The Financial Industry Regulatory Authority (FINRA) has reportedly barred former broker Ronald G. Smith (CRD#: 6038062) from associating with any FINRA member firm in any capacity, according to a recent disclosure on his FINRA BrokerCheck record.
FINRA Investigation into Excessive Trading Allegations
According to FINRA, Smith refused to cooperate with its investigation regarding potential excessive trading (churning) in customer accounts while associated with Spartan Capital Securities, LLC (CRD#: 146251).
Without admitting or denying the findings, Smith consented to a permanent bar from the securities industry. FINRA stated that although he provided a partial response, he failed to produce all requested documents and electronic communications related to the investigation.
The bar became effective November 10, 2025.
Customer Disputes and Allegations
Smith’s BrokerCheck report shows three disclosures, including a pending customer dispute filed in February 2024 alleging:
- Breach of fiduciary duty
- Negligence
- Failure to supervise
- Unsuitable investment recommendations
- Unauthorized trading
- Misrepresentation and omission of material facts
The pending dispute seeks $250,000 in damages.
An earlier customer complaint filed in 2021 was closed with no action.
Employment History
Smith was registered with the following brokerage firms during his career:
- Sanford C. Bernstein & Co., LLC – Stamford, CT (2024–2025)
- Spartan Capital Securities, LLC – New York, NY (2013–2023)
He reportedly worked in the securities industry for approximately 12 years.
Understanding FINRA Arbitration for Investor Recovery
When a financial advisor engages in excessive trading, misrepresentation, or recommends unsuitable investments, investors may be able to pursue recovery of losses through FINRA arbitration.
FINRA arbitration is a private dispute resolution process designed for investors to seek compensation from brokerage firms and financial advisors. It is often faster and less costly than traditional litigation.
Claims can include:
- Unsuitable investment recommendations
- Failure to supervise
- Churning or excessive trading
- Misrepresentation or omission of material facts
- Breach of fiduciary duty
The White Law Group has represented hundreds of investors in FINRA arbitration claims against brokerage firms across the country, including Spartan Capital Securities.
How The White Law Group Can Help
If you have concerns regarding investments with Ron G. Smith or Spartan Capital Securities, you may be entitled to recover losses through a FINRA arbitration claim.
The attorneys at The White Law Group have over 30 years of experience representing investors in securities fraud and negligence cases nationwide.
For a free consultation with a FINRA arbitration attorney, call The White Law Group at (888) 637-5510 or visit www.whitesecuritieslaw.com.
Frequently Asked Questions (FAQs)
What does it mean when a broker is barred by FINRA?
When FINRA bars a broker, it means the individual is permanently prohibited from associating with any FINRA-registered brokerage firm. This action typically follows serious misconduct or a refusal to cooperate in a FINRA investigation, as in the case of Ronald G. Smith.
Can I recover investment losses through FINRA arbitration?
Yes. Investors who have suffered losses due to broker misconduct — such as unsuitable recommendations, excessive trading, or misrepresentation — can often seek recovery through FINRA arbitration. The process allows investors to pursue compensation from the brokerage firm responsible for supervising the broker.
How can The White Law Group help investors with claims involving Spartan Capital Securities?
The White Law Group has extensive experience representing investors in FINRA arbitration claims against brokerage firms like Spartan Capital Securities. The firm’s attorneys investigate potential negligence, supervision failures, and unsuitable investment practices to help investors pursue recovery of their losses.
