MAY 2017 UPDATE–Francesco Scarso was permanently barred from the securities industry in 2/2017 for failing to respond to a request for information in connection with an investigation.
ORIGINAL POST JUNE 2016
According to FINRA records, Francesco A. Scarso , a stockbroker who was recently employed by First Standard Financial Co. , discloses a pending customer dispute, 9 prior final customer disputes, 3 regulatory events and 4 currently outstanding judgement/liens.
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.
In FINRA Case 13-01629, a customer when Scarso was employed by John Thomas Financial alleges damages of $400,000 for misrepresentations and failing to disclose material facts.
In his most recent regulatory matter in 2015, Scarso was suspended for 30 days and fined $5,000 to resolve FINRA allegations that he failed to disclose tax liens and a compromise with a creditor in a timely manner.
Scarso is not currently employed in the securities industry. Prior to First Standard Financial, he was employed by PHX Financial and before that by Alexander Capital.
If you have questions about an account handled by Francesco Scarso , call for a no charge consultation.
Rex Securities Law , with offices in Boca Raton, FL, and Austin, TX, provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.
Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
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