Written by The White Law Group• May 30, 2019• 1:35 pm• Blog, Current Investigations

Michael Bastardi | Broker Investigation

FINRA Bars Michael Bastardi, Former Securities America Financial Advisor

Are you concerned about investments with former financial advisor Michael Bastardi? If so, the securities attorneys at The White Law Group may be able to help you by filing a FINRA Dispute Resolution claim.

According to the FinancialIndustry Regulatory Authority (FINRA), the regulator has barred Michael Bastardi for allegedly failing to provide information in regards to an investigation into his conduct.

According to his broker check report, Bastardi was affiliated with Securities America in Warwick, New York from June 2014 to March 2016, and then went to National Securities Corp. in Mahopac, New York for a year before landing at Chelsea Financial Services.

His broker reports states that in September 2018, Securities America amended a Form U5 filing in which it reportedly disclosed that Bastardi was allegedly the subject of a customer complaint that he had “engaged in unsuitable margin trading, unauthorized trading, fraud and forgery” between 2012 and 2014 when he was registered through Dalton Strategic Investment Services, and at Securities America, resulting in purported damages of approximately $250,000.

Recovery of Investment Losses

The White Law Group is investigating potential claims involving Bastardi and the liability his former employers may have for failure to properly supervise him.

Under FINRA rules and regulations, Broker-Dealers are responsible for supervising the actions of those advisors registered with their firm, and therefore may be held liable for the actions of their Broker(s).

The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Franklin, Tennessee.

We represent investors in FINRA arbitration claims in all 50 states, including New York. Our attorneys have recovered millions of dollars from many brokerage firms in the past.