Last Updated: February 2024 (Hauppauge, NY)
Joseph Audia Investigation Summary
Here’s what you need to know about Hauppauge, NY, stockbroker Joseph Audia:
- Name: Mr. Joseph Scott Audia
- Current Employer: VCS Venture Securities
- Previous Firms: Joseph Stone Capital , First Midwest Securities
- Function: Stock Broker/ Financial Advisor
- Aliases: Joseph Audia
- Primary Location: Hauppauge, NY
- CRD 290761
- Can Joseph Audia be sued in FINRA arbitration: Yes
- Sanctioned by FINRA: Yes
- Highest Settlement or Award: $24,000
- Two Pending Customer Disputes Seek Damages of $649,000
Discuss your case with experienced investment fraud lawyer Bob Rex at (877) 224-3199 for a free consultation.
Did You Lose Money With Joseph Audia As Your Stockbroker?
Joseph Audia was suspended from acting in any principal capacity and fined $5,000 in 2022 by FINRA to resolve allegations that he failed to reasonably supervise a broker who excessively and unsuitably traded certain customer accounts. FINRA found that he overlooked a number of red flags indicating excessive trading, including high cost-to-equity ratios and high turnover rates. In addition FINRA found that AUdia failed to enforce commission restrictions imposed on the broker by the firm and reflected on the active account reports that he reviewed.
In 2010 a customer of American Capital Partners was paid $195,000 to resolve a FINRA arbitration alleging that Audia made unsuitable recommendations and churned the accounts.
In 2007 a customer with similar claims was paid a settlement of $24,000.
Currently there are two pending cases against Audia. Allegations include churning, unsuitability, unauthorized trading, misrepresentations and omissions. Cumulative damages are nearly $650,000.
Other Cases Involving Unauthorized Trading
Allegations of Broker Misconduct Against Joseph Audia
Customers of Joseph Audia have alleged the following wrongdoing in connection with the handling of customer accounts:
- Unsuitable Investment Recommendations
- Churning
- Unauthorized Trading
- Omissions
- Misrepresentations
- Negligence
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
If you have suffered investment losses in an account handled by Joseph Audia, 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.
