Joseph Gunnar & Company Regulatory History Overview  

The White Law Group Reviews the Regulatory History of Joseph Gunnar & Company LLC

Joseph Gunnar & Company (CRD# 24795) is a FINRA-registered broker-dealer based in Uniondale, New York. The firm has operated in the securities industry for decades and currently manages approximately $28.7 million in assets. According to FINRA BrokerCheck, Joseph Gunnar & Company has 16 disclosure events, including multiple regulatory actions and arbitration claims. Such a record raises concerns for investors, as repeated disclosures may reflect supervisory lapses, compliance failures, or patterns of unsuitable recommendations.

FINRA and the SEC oversee brokerage firms like Joseph Gunnar & Company to protect investors and uphold industry integrity. These regulators may impose censures, fines, suspensions, restitution, or other penalties in response to violations. Likewise, arbitration awards reported on BrokerCheck can signal significant customer disputes and financial harm.

The following is an overview of publicly available information concerning Joseph Gunnar & Company’s regulatory history and broker misconduct.

Joseph Gunnar & Company Regulatory History

• July 8, 2024 – FINRA sanctioned Joseph Gunnar for charging a minimum commission of $100 on more than 1,600 equity transactions between 2018 and 2022, finding that these charges were unfair to customers. The firm also failed to maintain a supervisory system and neglected to file offering documents for 14 private placements between 2020 and 2023. FINRA ordered a censure, $65,000 fine, and $69,898.17 in restitution plus interest.
• December 4, 2020 – The firm agreed to a censure and $55,000 fine for failing to maintain an adequate anti-money laundering program and due diligence procedures for foreign financial institutions, violating FINRA Rules 3310(a), 3310(b), and 2010.
• December 5, 2017 – Joseph Gunnar was censured and fined $60,000 after FINRA found that the firm failed to properly supervise a top-producing broker who made unsuitable recommendations to an elderly widow. The unsuitable concentration in speculative securities caused losses exceeding $150,000.
• December 2022 – A FINRA arbitration panel awarded more than $1.5 million to a former Joseph Gunnar broker who alleged unpaid commissions, unjust enrichment, and fraud. The panel ordered additional contingent payments tied to liquidity events in several companies.

Broker Misconduct and Customer Complaints

Joseph Gunnar & Company has employed brokers who were involved in misconduct and disciplinary actions. Firms may be held responsible for such misconduct through FINRA arbitration if they fail to supervise their representatives.

• August 2019 – A Joseph Gunnar broker in New York was fined $5,000 and suspended for unauthorized trading, including trades in deceased customers’ accounts, and for exercising discretion without written authorization.
• 2016 – A former Greenwich-based Joseph Gunnar broker was fined $20,000 and suspended two months for recommending unsuitable short-term steepener transactions that caused client losses of about $24,000.

FINRA Supervision Rules

Supervision is a critical safeguard in the securities industry, requiring firms to monitor their representatives’ conduct to ensure compliance with FINRA rules and to protect investors. When brokers engage in misconduct—such as churning, unauthorized trading, or recommending unsuitable investments—firms may be held accountable for failing to supervise.

Potential Claims to Recover Investment Losses

If you have suffered investment losses with Joseph Gunnar & Company or its brokers, you may be able to pursue a claim through FINRA arbitration. Working with an experienced securities attorney can increase your chances of recovering damages.

FAQs

What types of violations has Joseph Gunnar faced?
The firm has been sanctioned for excessive commissions, AML compliance failures, and supervisory lapses that allowed unsuitable investments.

How can investors recover from investment losses with Joseph Gunnar & Company?
Investors may pursue recovery through a FINRA arbitration claim, which can provide financial compensation for losses caused by broker misconduct or firm negligence.

If you invested with Joseph Gunnar & Company and have concerns about your accounts, contact The White Law Group at (888) 637-5510 for a free consultation.