FINRA Reportedly Bars Advisor Mitchell Biernick after allegations of Unsuitable Recommendations
According to the Financial Industry Regulatory Authority (FINRA) on October 18, 2022, the regulator has barred Mitchell Biernick (CRD #2690172) from working in the securities industry after he reportedly refused to appear for on the record testimony. The investigation was reportedly in connection with Biernick’s potential unsuitable recommendations to customers while he was associated with Arive Capital Markets.
According to his FINRA Broker Report, Biernick was reportedly affiliated with the following firms during his career in the securities industry.
02/23/2022 – 03/16/2022, NEWBRIDGE SECURITIES CORPORATION (CRD#:104065), FREEPORT, NY,
B, 07/31/2015 – 12/10/2021, ARIVE CAPITAL MARKETS (CRD#:8060), Ronkonkoma, NY
B, 06/27/2005 – 08/04/2015, J.P. TURNER & COMPANY, L.L.C. (CRD#:43177), MIDDLE ISLAND, NY
Biernick reportedly has two customer complaints filed against him, according to his broker record. Allegations include “NEGLIGENCE, CHURNING, MISREPRESENTATION, UNSUITABLE INVESTMENTS, BREACH OF FIDUCIARY DUTY AND BREACH OF CONTRACT.”
Potential Lawsuits to Recover Investment Losses
Brokerage firms are required to adequately supervise their advisors. They must ensure they are complying with FINRA rules.
When brokers abuse client accounts and conduct transactions that violate securities laws, such as making unsuitable investment recommendations , the brokerage firm they are working with may be liable for investment losses. 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.
If you suffered investment losses with financial advisor Mitchell Biernick, the securities attorneys at The White Law Group may be able to help you. Please call 888-637-5510 for a free consultation, or visit us on the web at www.whitesecuritieslaw.com.
The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Seattle, Washington.
Tags: Mitchell Biernick Arive, Mitchell Biernick financial advisor, Mitchell Biernick FINRA, Mitchell Biernick investigation, Mitchell Biernick lawsuit, Mitchell Biernick recovery options, Mitchell Biernick securities fraud attorney, Securities Lawyer Last modified: October 20, 2022