May 2018-Hauppauge, New York
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.
According to FINRA records, Timothy V. Longo , has been registered with American Capital Partners since 8/2015. Prior to that he was registered with Trident Partners, Ltd. from 1/2006-8/2015.
FINRA records disclose that Longo is currently named in two customer disputes and there have been 7 prior customer disputes that have been resolved. Several of the disputes involve exchange traded note sales to customers while he was registered with Trident Partners. In those cases the customers allege that the sale of the exchange traded notes was unsuitable in regards to the customer’s risk tolerance and investment objectives.
In 2006 the New York Stock Exchange sanctioned Longo with a censure and a 4 month suspension to resolve allegations that he engaged in conduct inconsistent with just and equitable principles of trade.
Prior customer disputes that have been resolved include:
- FINRA Case 17-1370 a customer of Trident Partners/American Capital alleged that unsuitable trades were made in his account and sought damages of $150,000. The case was settled for $43,000.
- In 9/2013 a customer of Trident Partners alleged poor performance from July 2011-2013 and sought damages of $100,000. The case settled for $70,000.
In a currently pending matter a customer of Trident Partners alleges unauthorized trading in VXX Exchange Traded Notes, an investment the customer alleges was unsuitable in light of the customer’s investment objectives and risk tolerance. Damages of $34,405 are sought.
If you have losses in an account handled by Timothy V. Longo, contact us for a no charge consultation to learn how you may be able to recover damages through FINRA arbitration.
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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