Vanderbilt Securities Regulatory Review

Vanderbilt Securities Review – Regulatory History & Customer Complaints Prepared by The White Law Group – National Securities Fraud Attorneys

The White Law Group is reviewing potential securities claims involving Vanderbilt Securities LLC (CRD#: 5953, SEC#: 8-16712), a dual-registered broker-dealer and investment advisor headquartered in Woodbury, New York. The firm reported over $43 million in revenue in 2021, according to public disclosures.

Vanderbilt Securities Regulatory Disclosures

According to FINRA’s BrokerCheck, Vanderbilt Securities LLC has a total of six disclosures on its firm record:

• Five regulatory events
• One arbitration case

Regulatory actions can include sanctions such as fines, censures, suspensions, and restitution. These disclosures may indicate failures in firm supervision, compliance, or oversight of broker conduct.

Vanderbilt Brokers with Customer Complaints or Alleged Misconduct

Broker-dealers like Vanderbilt Securities are responsible for supervising their registered representatives. Below are examples of Vanderbilt brokers reportedly with recent complaints or disciplinary actions:

Mark Kaplan (CRD#: 1978048)

Barred by FINRA in 2018 for allegedly churning the account of a 93-year-old client,Mark Kaplan was named in at least eight customer complaints and caused more than $700,000 in losses.

Kurt Allen Berry (CRD#: 2204602)

Suspended by FINRA in 2024 and fined $5,000 for unauthorized private securities transactions, Berry also reportedly faces a pending $473,000 customer complaint involving oil and gas investments.

Brian Gardiner (CRD#: 3268932)

Currently registered with Vanderbilt, Gardiner reportedly has a pending $210,000 complaint filed in 2025 alleging unsuitable recommendations in private placements.

Hagop Jack Nalbandian (CRD#: 2921246)

Nalbandian has two customer complaints filed in 2024 alleging misrepresentation and unsuitable investment recommendations, one of which remains pending.

John Francis Carroll (CRD#: 1148905)

Reportedly suspended indefinitely by FINRA in 2023 for failing to comply with an arbitration award or provide requested information during a regulatory proceeding.

FINRA Sanctions & Cautionary Actions

July 2018 – $100,000 Fine & Censure

FINRA fined Vanderbilt Securities $100,000 for failing to supervise Mark Kaplan. According to the Letter of Acceptance, Waiver & Consent (AWC), the firm failed to maintain a supervisory system to detect unsuitable excessive trading and churning in customer accounts.

January 2020 – Cautionary Action

FINRA issued a cautionary letter after identifying deficiencies during a routine exam:

• Inadequate suitability determinations in 1031 like-kind exchanges
• Inadequate written procedures for reviewing customer escrow agreements

Vanderbilt reportedly corrected the deficiencies in response.

January 2019 – Cautionary Action

FINRA found that Vanderbilt:

• Failed to supervise mutual fund switches
• Lacked adequate due diligence procedures for recommended securities

The firm responded that these deficiencies had been addressed.

FINRA Rule 3110 – Supervision Requirements

FINRA Rule 3110 requires firms to:

• Designate qualified supervisors
• Create and maintain written supervisory procedures
• Review customer account activity
• Inspect office locations

Rule 3110 is critical for protecting investors and ensuring firms detect misconduct before it leads to harm. Failure to comply can result in regulatory action and liability for client losses.

Class Action vs. FINRA Arbitration – Which Is Right for You?

FINRA Arbitration

• Mandatory for disputes with brokerage firms
• Faster and less expensive than court
• Decision is binding and final
• Most common route for investor claims

Securities Class Action

• Filed in court and often involves publicly traded securities
• Suitable for large-scale fraud affecting many investors
• May take years and result in small individual payouts

For individual investors with losses from specific brokers or unsuitable recommendations, FINRA arbitration is usually the best option.

Hiring a FINRA Attorney

If you suffered investment losses with Vanderbilt Securities, you may be entitled to pursue recovery through FINRA arbitration. The White Law Group has represented investors in over 800 FINRA cases and offers decades of experience in securities law.

We can:

• Review your case and assess potential claims
• Draft and file your Statement of Claim
• Represent you during arbitration
• Negotiate a settlement when appropriate

Frequently Asked Questions (FAQs) –  Vanderbilt Securities

1. What are common complaints against Vanderbilt Securities?

Complaints include churning, failure to supervise, and unsuitable recommendations, particularly involving elderly or vulnerable clients.

2. How do I check my broker’s disciplinary history?

You can search your broker’s record using FINRA’s BrokerCheck tool to review their licenses, complaints, and disciplinary history.

3. Can I recover losses from Vanderbilt Securities?

If your losses were due to broker misconduct or firm negligence, you may be eligible to file a FINRA arbitration claim. An experienced securities attorney can help evaluate your options.

Contact The White Law Group

The White Law Group is a national securities fraud and investor protection law firm with offices in Chicago and Seattle, representing investors in all 50 states.

If you believe you have suffered investment losses with Vanderbilt Securities, call us at 888-637-5510 for a free consultation.

For more information, visit our website: www.whitesecuritieslaw.com