Last Updated: April 2025 | New York, NY
Sergio M. Rovner Investigation Summary
Here’s what you need to know about New York, NY, stockbroker Sergio M. Rovner:
- Name: Mr. Sergio M. Rovner
- Current Employer: Aegis Capital Corp.
- Prior Employer: Rockwell Securities
- Primary Location: New York, NY
- Function: Stockbroker / Financial Advisor
- CRD Number: 2884441
- Aliases: Sergey Rovner, Sergio Rovner
- Can Sergio Rovner be sued in FINRA arbitration? Yes
- Sanctioned by FINRA? Yes
- Pending Customer Dispute Seeks Damages of: $4,095,000
- Highest Award or Settlement: $78,000
If you’ve sustained damages from Mr. Rovner, discuss your case with experienced investment fraud lawyer Bob Rex at (877) 224-3199 for a free consultation.
Did You Lose Money With Sergio Rovner As Your Stockbroker?
A pending FINRA arbitration case has been filed against Sergio M. Rovner, alleging unsuitable investments in private placements.
- Pending Case Details:
- Docket Number: 24-02534
- Filing Date: December 3, 2024
- Allegations: Recommended high-risk private placements unsuitable for the investor’s profile.
- Claim Amount: $4,095,00
Private Placements under Reg D: What is a Private Placement? According to the U.S. Securities and Exchange Commission (SEC):
“Under the federal securities laws, a company may not offer or sell securities unless the offering has been registered with the SEC or an exemption from registration is available. Offerings exempt from the SEC’s registration requirements pursuant to Securities Act Section 4(a)(2) or its safe harbor under Regulation D of the Securities Act are often referred to as private placements.”
The SEC warns that unregistered offerings may be utilized to conduct investment scams and that investors should have the ability to weather a total loss in these illiquid investments. See this SEC Investor Alert about red flags to watch out for in unregistered offerings.
Past Settlements & Allegations:
- Settlement 1 (2019):
- Allegation: Unauthorized trading, unsuitable investment recommendations.
- Settlement Amount: $12,635
- Settlement 2 (2004):
- Allegation: Failure to place a stop-loss order.
- Settlement Amount: $4,810
- Settlement 3 (2003):
- Allegation: Overcharging commissions.
- Settlement Amount: $35,000
- Settlement 4 (2002):
- Allegation: Unauthorized trades in an equity account.
- Settlement Amount: $78,000
- Settlement 5 (1999):
- Allegation: Unsuitability, negligence, and breach of fiduciary duty.
- Settlement Amount: $40,000
Other Cases Involving Unauthorized Trading
Discretionary vs. Non-Discretionary Accounts
Under FINRA Rule 2111, brokers must ensure that investment recommendations align with the client’s risk tolerance and financial objectives. Private placements are often high-risk investments and should only be recommended to accredited investors.
Allegations of Broker Misconduct Against Sergio Rovner
Customers and regulators have reported the following allegations against Sergio M. Rovner:
- Excessive Trading & Churning:
- In 2005, the NASD (now FINRA) sanctioned Rovner for excessive trading, leading to a $10,000 fine and a 30-day suspension.
- Violated FINRA Rule 2111, which requires brokers to recommend investments suitable for their clients.
- Failure to Adhere to Regulatory Standards:
- In 2006, the Illinois Securities Department revoked his registration, barring him from reapplying for two years due to misconduct.
- Unauthorized Trading & Mismanagement:
- Several customer complaints allege unauthorized trading, with one resulting in a $78,000 settlement in 2002.
- Overcharging Commissions:
- A 2003 settlement of $35,000 was reached after a customer alleged excessive fees and commission charges.
- Unsuitable Investment Recommendations:
- The current $4,095,000 FINRA arbitration involves allegations of unsuitable recommendations in private placements, a direct violation of FINRA Rule 2111.
Given his history of regulatory actions, customer complaints, and settlements, investors should thoroughly review any transactions involving Rovner.
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 Sergio M. Rovner, 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.