Palm Beach County Broker Barred From Securities Industry After Unsuitable Investment Complaints
Marshall Owen Isaacson (CRD #1140370) is a previously registered securities broker. From August of 2007 to July of 2016, Mr. Isaacson was a representative for National Securities Corporation in Boca Raton, Florida. Subsequently, he served as a financial representative for Newbridge Securities., also based at a branch location in Boca Raton.
Since 2016, at least six different customers have filed complaints against broker Marshall Owen Isaacson. In July of 2020, Mr. Isaacson was indefinitely barred from the securities industry after he declined to cooperate with FINRA’s investigation into allegations against him. Here, our Miami investor losses attorney discusses the allegations against the former Florida securities broker.
Investor Complaints: Marshall Owen Isaacson
According to records accessed through FINRA’s BrokerCheck database, investors filed complaints against Mr. Isaacson while he was at National Securities Corporation and while he was at Newbridge Securities. Here is a brief summary of recent customer complaints filed against the former South Florida broker:
- March 2016: Customer alleged losses due to unauthorized trading and unsuitable investment recommendations. The claim was settled for $215,000.00.
- September 2016: Investor alleged losses due to unsuitable investment strategies. Claim was settled for $92,000.00.
- April 2019: Customer alleged losses due to broker negligence, breach of fiduciary duty, and breach of contract. The claim was settled for $14,999.00.
- April 2019: Customer alleged financial damages to due broker negligence and breach of fiduciary duty. The claim is still listed as ‘pending’ by FINRA.
- May 2019: Investor alleged losses due to unsuitable investment advice and breach of fiduciary duty. The claim was settled for $11,125.00.
- January 2019: Investor alleged financial losses due to unsuitable investment recommendations and material misrepresentations. The claim is still listed as ‘pending’ by FINRA.
Broker Barred for Failure to Cooperate With FINRA Investigators
Following the string of customer complaints against broker Marshall Owen Isaacson, FINRA launched its own investigation into his conduct. Specifically, the investigation centered on whether or not Mr. Isaacson improperly made unsuitable investment recommendations to investors. Securities brokers must ensure that their investment recommendations are reasonably suitable for their customers.
In violation of securities industry regulations, this broker declined to provide documents or testimony. Under FINRA Rule 8210 and FINRA Rule 2010, registered representatives have a professional duty to cooperate with FINRA investigators. All brokers must provide testimony and records when requested by FINRA. Without admitting any wrongdoing in the case, Mr. Isaacson consented to an indefinite bar from the securities industry.
Call Our Miami Securities Fraud Lawyers for a Confidential Consultation
At Carlson & Associates, P.A., our Miami investment fraud lawyers have the knowledge and experience needed to represent clients in unsuitable investment claims. If you suffered losses due to your broker’s breach of the suitability rule, we are more than qualified to help. Call us now for comprehensive initial consultation. With a legal office in Miami, we represent investors throughout the entire region, including in Miami-Dade County and Broward County.
Resource:
brokercheck.finra.org/individual/summary/1140370
