Nicholas Francis Milano, Formerly of Aegis Capital, Allegedly Engaged in Unauthorized Trading & Unsuitability
Nicholas Francis Milano allegedly engaged in unauthorized trading & unsuitability, all according to a customer complaint disclosed in publicly available records maintained by the Financial Industry Regulatory Authority (FINRA).
The investor rights lawyers at Goldman Scarlato & Penny law firm are investigating Mr. Milano’s conduct to determine whether any investors may have claims for alleged unauthorized trading & unsuitability. Investors may contact investor rights attorney Alan Rosca to provide information or inquire about their legal options.
The aforementioned claim was filed on February 12, 2018, and is requesting $188,1000 in requested damages, FINRA states.
Milano was a registered rep with Aegis Capital Corp from June 13, 2014 through December 9th, 2015, and has also worked at two firms which are now expelled by FINRA.
Milano, from 2012 through 2014, worked at Craig Scott Capital (expelled by FINRA) and, for less than a year, also worked at Brooksone Securities (expelled by FINRA) between 2011 and 2012, FINRA notes.
Nicholas Milano Allegedly Engaged in Breach of Fiduciary Duty, Breach of Contract, Unjust Enrichment, & Negligent Misrepresentation
Nicholas Francis Milano allegedly engaged in negligence and unsuitability, churning, unauthorized trading, breach of fiduciary duty, breach of contract, unjust enrichment, lost opportunity damages, and negligent misrepresentation and omissions, FINRA states.
Said claims come from a claim filed claimed on February 6, 2015, FINRA notes. Said claim requested damages of $493,521.31, and it was ruled that said claimant should receive $252,193.83 in compensatory damages, FINRA reports.
Brokerage firms such as Aegis Capital Corp have a responsibility to adequately supervise all of their registered representatives who are employed through their firm, to prevent violations of securities rules and regulations. Brokerage firms also must initiate action to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies. If and when brokerage firms fail to adequately supervise their registered representatives, they may be held liable for investment losses sustained by customers.
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 Nicholas Francis Milano‘s alleged unauthorized trading & unsuitability. 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, has represented thousands of victimized investors across the country and around the world in cases ranging from arbitrations to securities class actions.
If you or a loved one or a friend has lost money investing with Nicholas Francis Milano, you may contact attorney Alan Rosca or his colleagues for a free no-obligation evaluation of their recovery options, at 888-998-0530, via email at firstname.lastname@example.org, or through the contact form on this webpage.