Concerns About Newbridge Securities Corp.
The securities attorneys at The White Law Group are investigating potential claims involving Newbridge Securities Corp. (CRD#: 104065), a Boca Raton, Florida–based broker-dealer with a troubling history of compliance failures. FINRA records show the firm has more than 30 regulatory events and several customer arbitrations, including sanctions for unsuitable investment recommendations, anti-money laundering (AML) deficiencies, and supervisory lapses that have exposed investors to unnecessary risk.
Broker Misconduct and Customer Complaints
Several Newbridge brokers have been implicated in misconduct and fraudulent activities over the years.
- Marshall Isaacson – A former Newbridge Securities broker, Isaacson was barred by FINRA in 2020 after refusing to cooperate with an investigation into unsuitable investment recommendations. His record includes multiple customer complaints alleging misrepresentation and suitability issues.
- Austin Dutton – Numerous complaints, including those from three retired Philadelphia police officers and a firefighter, alleged that Dutton failed to properly disclose the risks of recommended investments.
- Lawrence Labine – The White Law Group filed a FINRA lawsuit against Newbridge on behalf of an Arizona investor, alleging fraud, breach of fiduciary duty, negligence, and negligent supervision. Labine had multiple regulatory events and customer complaints tied to high-risk alternative investments.
- Gerald Cocuzzo – Former Newbridge broker Cocuzzo pleaded guilty to securities fraud for his role in a $131 million market manipulation scheme involving ForceField Energy stock. He allegedly accepted kickbacks to recommend the stock without disclosure.
FINRA Sanctions – Supervisory Issues
- January 2025 – Margin Supervision Failures
FINRA censured and fined Newbridge $60,000 for failing to supervise margin use in five customer accounts. The firm was also ordered to pay $45,000 in restitution plus interest. - September 5, 2024 – AML & Variable Rate Structured Products Failures
FINRA found Newbridge’s AML program was not reasonably designed, citing deficiencies in customer identification and due diligence during preparations for a China-based IPO. More than 20 accounts were opened under questionable circumstances. The firm also failed to supervise unsuitable sales of Variable Rate Structured Products (VRSPs) to customers with low or moderate risk tolerance. Investors paid nearly $20,000 in sales charges and suffered over $23,000 in losses. Newbridge was fined $125,000 and ordered to pay $43,000 in restitution. - March 27, 2023 – Alternative Mutual Fund Supervision Failures
FINRA sanctioned Newbridge for failing to supervise sales of the LJM Preservation & Growth Fund, an alternative mutual fund that used uncovered options. The firm approved the product without adequate due diligence or risk understanding. Approximately $323,000 was invested by customers, and when the fund collapsed during a volatility event, it lost 80% of its value. Newbridge was censured, fined $50,000, and ordered to pay more than $114,000 in restitution plus interest. - September 2019 – Complex Products
FINRA censured Newbridge and fined the firm $225,000 for failing to supervise sales of structured notes and leveraged, inverse ETFs.
Investigating Potential Claims
Brokerage firms are required to supervise their financial advisors and protect customers from unsuitable investments and fraudulent practices. When firms like Newbridge fail to implement adequate oversight, investors can suffer significant losses.
Investors who purchased high-risk products or unsuitable investments through Newbridge may be able to pursue recovery of losses through FINRA arbitration.
Hiring a Securities Attorney
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 all 50 states. Since 2010, the firm has handled over 800 FINRA arbitration cases. With offices in Chicago, Illinois and Seattle, Washington, we represent investors nationwide in claims against brokerage firms.
Our attorneys handle all types of securities-related cases, including stock fraud, broker misrepresentation, churning, unsuitable recommendations, unauthorized trading, and selling away.
If you have concerns about investments made through Newbridge Securities Corp. and would like to speak with a securities attorney, please call The White Law Group at 888-637-5510.
FAQs About Newbridge Securities Corp.
What is Newbridge Securities’ regulatory history?
Newbridge has over 30 regulatory events, including FINRA sanctions for AML failures, margin supervision issues, and unsuitable product sales.
Can I recover losses from investments sold by Newbridge?
Yes. Investors may file FINRA arbitration claims to seek recovery of investment losses caused by broker misconduct or inadequate supervision.
Why does FINRA sanction brokerage firms like Newbridge?
FINRA enforces industry rules and investor protection standards. Firms like Newbridge face sanctions when they fail to supervise advisors, recommend unsuitable products, or violate AML and reporting obligations.
