Last Updated: November 2023 (New York, NY)
Joey Giamichael Investigation Summary
Here’s what you need to know about New York, NY, stockbroker Joey Giamichael:
- Name: Mr. Joey Giamichael
- Current Employer: Spartan Capital Securities
- Previous Firms: Revere Securities, Benchmark Investments, I-Bankers Direct LLC
- Function: Stock Broker/ Financial Advisor
- Aliases: None
- Primary Location: New York, NY
- CRD 3248158
- Can Joey Giamichael be sued in FINRA arbitration: Yes
- Sanctioned by FINRA & SEC: No
- Terminated by a prior employer: Yes
Discuss your case with experienced investment fraud lawyer Bob Rex at (877) 224-3199 for a free consultation.
Allegations of Broker Misconduct Against Joey Giamichael by Securities Regulators
Securities regulators have alleged the following wrongdoing by Joey Giamichael:
- The U.S. Securities and Exchange Commission (SEC) censured and fined Joey Giamichael in 2017 for violating Sections 17(a)(2) and 17(b) of the Securities Act. According to SEC allegations Giamichael published 45 research reports in which he included ‘buy’ recommendations, as well as price targets that were above current market value at the time of the publications. The reports did not disclose the amount of compensation he received and he traded personally in the securities. Recommending a security to the public as an investment while selling that security contrary to the recommendation, without disclosure, is a deceptive practice known as “scalping”.
- In 2013 FINRA suspended and fined Giamichael for trading in a security that his member firm had published a research report on in violation of FINRA Rule 2010.
- In 2013 FINRA revoked his registration for failure to pay fines/costs in a FINRA case. Revocation was rescinded in 2018.
Joey Giamichael was “permitted to resign” from Benchmark Investments in 2021. Benchmark alleged the Giamichael was under investigation for violation of FINRA Rules 3270 and 3280.
The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.
Recover Your Investment Losses Now With Rex Securities Law
See this for information on our investigations of Revere Securities brokers
If you have suffered investment losses in an account handled by Joey Giamichael, contact us for a complimentary consultation with an experienced securities lawyer to learn how you may be able to recover damages through FINRA arbitration.
With offices in Boca Raton, FL and Austin, TX, stockbroker fraud attorney Bob Rex provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers, financial advisors and broker dealers.
If you have questions about how your account has been handled, call (877) 224-3199 to speak with an experienced securities attorney at no cost to you.
Most cases are handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.