Marc Augustus Reda Allegedly Engaged in Alleged Churning & Unauthorized Trading; Damage Amount of $17,620.00 Requested

Marc A. Reda allegedly engaged in churning and unauthorized trading, according to a Pending  Customer Dispute under review by investor rights attorney Alan Rosca.

The aforementioned dispute was filed on April 10, 2019, FINRA states, and damage amounts of $17,620.00 have been requested.

Marc Reda is also the subject of a Pending Financial Dispute alleging Bankruptcy, FINRA reports. Said Dispute was filed on December 29, 2017, and has no further information.

Investor rights attorney Alan Rosca, of the Goldman Scarlato & Penny PC law firm, is investigating activity related to Marc A. Reda’s alleged churning and unauthorized trading.

Investors who believe they may have lost money in activity related to Marc A. Reda’s alleged churning and unauthorized trading are encouraged to contact attorney Alan Rosca with any useful information or for a free, no obligation discussion about their options.

Marc A. Reda Settled a Customer Dispute for $45,000 Accusing Reda of Allegedly Charging Excessive Commissions; Reda Has Been Suspended Three Months by FINRA

Marc Reda also settled a Customer Dispute which alleged that Read purportedly charged excessive commissions, FINRA notes.

The aforementioned dispute was filed on July 11, 2017, FINRA notes, and damage amounts of $74,232.60 were requested, but was ultimately settled for $45,000.

Marc Reda settled a Customer Dispute which alleged that Reda allegedly failed to timely disclose on his Form U4 a federal tax lien filed against him in the amount of $575,101, according to a Final Regulatory Action filed on June 2, 2017, FINRA states.

Reda, without admitting or denying the findings, reportedly consented to the sanctions and to the entry of findings that he exercised discretion in customers’ accounts without written authorization from the customers and without having obtained his member firm’s approval to treat those accounts as discretionary, FINRA notes. Reda was ultimately fined $5,000 and also suspended for three month, FINRA reports, from July 3, 2017 through October 2, 2017.

Marc Reda has been registered with  Spartan Capital Securities, LLC in New York, NY since May 12, 2016, and has also been registered with the following firms:

  • First Standard Financial Company, LLC, Staten Island, NY— February 22, 2016 to May 2, 2016
  • PHX Financial, INC., New York, NY— October 3, 2014 to January 28, 2016
  • Laidlaw & Company (UK) LTD., New York, NY— November 21, 2013 to October 31, 2014

Finally, it is important to note that, as of the date of this article, there has not been a finding of liability as to the complaints mentioned in this article, unless otherwise indicated.

Securities Lawyer Investigating

The Goldman Scarlato & Penny PC law firm represents investors who lose money as a result of investment-related fraud or misconduct and are currently investigating Marc A. Reda’s alleged churning and unauthorized trading. The firm takes most cases of this type on a contingency fee basis and advance the case costs, and only gets paid for their fees and costs out of money recovered for clients. Attorney Alan Rosca, a securities lawyer and adjunct professor of securities regulation, and has represented thousands of victimized investors across the country and around the world in cases ranging from arbitrations to class actions.

Investors who believe they lost money as a result of Marc A. Reda’s alleged churning and unauthorized trading may contact attorney Alan Rosca for a free no-obligation evaluation of their recovery options, at 888-998-0530, via email at rosca@lawgsp.com, or through the contact form on this webpage.

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In our legal system, every person is innocent until and unless found guilty by a court of law or a tribunal. Whenever we reference “allegations” or charges that are “alleged,” such allegations or charges have not been proven, and are merely accusations, not findings of fault, as of the date of the blog. We do not have, nor do we undertake, a duty to continue to monitor or follow cases about which we report, and/or to publish subsequent updates regarding various developments that may occur in such cases. Readers are encouraged to conduct their own research regarding any such cases and any developments that may or may not have occurred in such cases. Also, the brokercheck report linked to some of our blogs is the up-to-date version as of the date of posting. Visitors may check the most recent version of each brokercheck report at www.finra.org.