Former Broker Simon Michel Joseph Suspended by FINRA after Allegations
The White Law Group is investigating potential securities claims involving former broker Simon Michel Joseph (also known as Simon Michael Youssef), who recently agreed to sanctions by the Financial Industry Regulatory Authority (FINRA).
According to a Letter of Acceptance, Waiver, and Consent (AWC) accepted on August 8, 2025, between December 2019 and July 2024, Joseph willfully failed to disclose a consent order issued by the Maryland Securities Commissioner on multiple Uniform Applications for Securities Industry Registration or Transfer (Forms U4) filed with FINRA.
FINRA alleges that this conduct violated Article V, Section 2(c) of FINRA’s By-Laws and FINRA Rules 1122 and 2010. Without admitting or denying the findings, Joseph consented to a $5,000 fine and a six-month suspension from associating with any FINRA member in any capacity.
A History of Disclosures and Prior Sanctions
Joseph, who has been in the securities industry for 15 years, has reportedly worked with multiple firms, including:
- LPL Financial LLC (2024)
- Momentum Independent Network Inc. (2022–2024)
- Truist Investment Services, Inc. (2021–2022)
- BB&T Securities, LLC (2016–2021)
- Morgan Stanley (2009–2016)
- AXA Advisors, LLC (2009)
- ING Financial Partners, Inc. (2008–2009)
His BrokerCheck report lists six disclosures, including two employment terminations after allegations, two customer disputes that settled for a combined $160,000, and two prior regulatory actions.
Notably, in 2019, Joseph was sanctioned by FINRA for exercising discretion in client accounts without authorization and for mismarking order tickets. He was fined $10,000 and suspended for 30 business days. Around the same time, the Maryland Securities Division suspended his registration for 43 days and imposed conditions on his ability to serve Maryland clients for three years.
Simon Michel Joseph: Customer Disputes
In 2023, a customer alleged over $250,000 in losses due to unauthorized trades, unsuitable recommendations, and misrepresentation. The case settled for $90,000, with the broker denying the allegations.
In 2016, a client alleged unauthorized trading between February 2015 and July 2016, with the dispute settling for $70,000.
Potential Claims for Investors
If you invested with Simon Michel Joseph and suffered losses, you may be able to recover your investment through FINRA arbitration. Brokerage firms are required to adequately supervise their financial advisors to ensure compliance with securities laws and regulations. When they fail to do so, they may be liable for investment losses.
FINRA Arbitration for Investor Recovery
FINRA’s dispute resolution forum provides a way for investors to pursue claims against brokers and brokerage firms for misconduct, including:
- Unauthorized trading
- Misrepresentation or omission of material facts
- Unsuitable investment recommendations
- Failure to supervise
The process is typically faster and more cost-effective than traditional litigation, and investors may not need to attend in person.
Free Consultation with a Securities Attorney
If you believe you have suffered investment losses due to recommendations or actions by Simon Michel Joseph, The White Law Group may be able to help. Our securities attorneys have handled over 800 FINRA arbitration cases nationwide.
For a free consultation, please call 888-637-5510 or visit www.whitesecuritieslaw.com.
FAQs: Simon Michel Joseph
What did FINRA sanction Simon Michel Joseph for in 2025?
FINRA suspended Joseph for six months and fined him $5,000 for willfully failing to disclose a Maryland consent order on multiple Form U4 filings between December 2019 and July 2024.
Has Simon Michel Joseph faced prior regulatory actions?
Yes. In 2019, FINRA and the Maryland Securities Division sanctioned him for unauthorized discretionary trading and mismarking order tickets.
Can I recover losses from investments recommended by Simon Michel Joseph?
Possibly. Investors may be able to pursue recovery through FINRA arbitration if they can show that their losses resulted from unsuitable recommendations, misrepresentation, or other broker misconduct.
