Last Updated: April 2025 | Melville, NY
Frank Giacalone Investigation Summary
Here’s what you need to know about Melville, NY, stockbroker Frank Giacalone:
- Name: Mr. Frank Giacalone
- Current Employer: Aegis Capital Corp.
- Function: Stockbroker / Financial Advisor
- CRD Number: 4314174
- Primary Location: Melville, NY
- DBA: On-Site Insurance School of NY, ACC Agency
- Can Frank Giacalone be sued in FINRA arbitration? Yes
- Sanctioned by FINRA? No
- Pending or Settled Customer Disputes: 4
- Total Settlement Amounts: $82,400
If you’ve sustained damages from Mr. Giacalone, discuss your case with experienced investment fraud lawyer Bob Rex at (877) 224-3199 for a free consultation.
Did You Lose Money With Frank Giacalone As Your Stockbroker?
Frank Giacalone has been the subject of four customer disputes, three of which resulted in monetary settlements, with the most recent case settled in May 2024.
Recent and Notable Claims:
- Case #24-00945 (Filed May 1, 2024 – FINRA, Dallas, TX)
- Allegations: Unsuitable recommendations and investments in equity-listed securities (August 2018 – April 2021)
- Settlement Amount: $14,900
- Case #16-01620 (Filed June 27, 2016 – FINRA)
- Allegations: Churning, unauthorized trading, negligence, breach of fiduciary duty, and misrepresentation during employment at Obsidian Financial and Aegis
- Settlement Amount: $27,500 (paid entirely by Mr. Giacalone)
- Case #15-02634 (Filed October 2015 – FINRA)
- Allegations: Unsuitable recommendations in OTC securities
- Settlement Amount: $40,000
Allegations of Broker Misconduct Against Frank Giacalone
Customers of Frank Giacalone have alleged the following forms of misconduct:
- Unsuitable Investment Recommendations
- Clients claim they were steered into securities that didn’t align with their risk tolerance or investment objectives, a potential violation of FINRA Rule 2111 (Suitability).
- Churning and Excessive Trading
- Allegations that Mr. Giacalone engaged in excessive trading to generate commissions, violating the duty of care and FINRA Rule 2010.
What is Excessive Trading (Churning)?
Churning According to U.S. Securities and Exchange Commission (SEC)
Other Investigations Involving Churning
- Unauthorized Trading
- Complaints include executing trades without customer consent —FINRA Rules 2010 and 3260.
Other Cases Involving Unauthorized Trading
- Misrepresentation and Omissions
- Clients allege key details about investments were misrepresented or omitted — potentially violating FINRA Rule 2020 (Prohibition on Manipulative Practices).
Recover Your Investment Losses Now With Rex Securities Law
Investigations of Aegis Capital and Aegis Capital Brokers-Lawsuits, Arbitrations & Disputes
If you have suffered investment losses in an account handled by Frank Giacalone, 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.