Valentino Michael Scott Investigation
June 2023- West Hills, CA
The FINRA records of Valentino Michael Scott, a Centaurus Financial, Inc. broker, disclose customer disputes.
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 #10-05023 filed by a Centaurus Financial, Inc. customer, allegations were made of misrepresentation, omission of fact, unsuitability and elder abuse. The award to the customer was $39,916.
In March 2022, FINRA case #22-00509, filed by a Centaurus Financial, Inc. customer, alleged that Scott made poor recommendations, misrepresented and over concentrated the customer accounts in unsuitable, illiquid and risky investments. The customer does not allege a specific compensatory damage amount but rather requests that “compensatory damages be calculated on the formula provided for in the case law as well as the FINRA Arbitrators’ Guide, commonly referred to as market-adjusted or benchmark damages. The case is pending.
In March 2020, FINRA case #20-00891, filed by a Centaurus Financial, Inc. customer, alleged that during the period 2014 through 2020, Scott recommended and over concentrated their account in unsuitable investments including variable annuities, mutual funds and real estate securities. In 5/2022 the case was settled for $110,000.
Scott has been employed with Centaurus Financial Inc., since January of 1995.
If you have losses in an account handled by Valentino Michael Scott , 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, at no cost to you.
Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
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