DID MICHAEL ROBERT MOLINARO CAUSE YOU INVESTMENT LOSSES?
Robert Molinaro Of Network 1 Financial Securities Inc. Has 3 Customer Complaints For Alleged Broker Misconduct
About Robert Molinaro of Network 1 Financial Securities Inc.?
Robert Molinaro (CRD #2358346) currently holds registrations with Network 1 Financial Securities Inc. in Red Bank, New Jersey, since February 2014. His extensive background includes past registrations with multiple firms, including Columbus Advisory Group, LTD., EJ Sterling Inc., and several others dating back to his first registration in 1996. Molinaro has successfully completed a total of 13 industry examinations, including six Principal/Supervisory Exams and five General Industry/Product Exams. His qualifications span multiple roles, evidenced by his approvals in various capacities such as General Securities Principal, Compliance Officer, and Investment Banking Representative.
Investment Losses? Let’s talk.or, give us a ring at (800) 732-2889.
Robert Molinaro Customer Complaints and Reviews
Michael Molinaro’s FINRA report lists several disclosure events, including:
- Regulatory Events (3 incidents)
- First Incident: On 08/31/2023, Molinaro faced sanctions for failing to establish adequate supervisory procedures regarding excessive trading, resulting in a three-month suspension and a fine.
- Second Incident: On 01/13/2015, he was suspended for 45 days due to failure in supervising private placements and unauthorized opening of a branch office.
- Third Incident: In 2008, he was censured for administrative errors in registration processes in multiple states.
- Customer Disputes (3 incidents)
- First Incident: A dispute involving allegations of failure to supervise with claimed damages of over $130,000 was stayed by bankruptcy filing.
- Second Incident: Another supervision-related complaint with alleged damages of approximately $72,000 also stayed by bankruptcy.
- Third Incident (Pending): Allegations include breach of fiduciary duty and other violations with claimed damages of $500,000.
- Financial Disclosure (1 incident): Bankruptcy filed in August 2015, discharged in April 2017.
Allegations Against Robert Molinaro
- Regulatory Actions:
- Overseeing Excessive Trading: Allegations of inadequate supervision and failure to prevent excessive trading leading to high customer costs.
- Improper Supervision of Private Placements: Failed to enforce a supervisory system for private placements, leading to unauthorized actions.
- Administrative Failures: Negligence in filing and supervising registration documents resulted in a censure.
- Customer Disputes:
- Failure to Supervise: Allegations of inadequate supervision leading to financial losses for clients, with two disputes affected by his bankruptcy.
- Pending Dispute: Claims of breach of fiduciary duty, fraud, and failure to supervise, with substantial financial implications for the involved parties.
- Financial Disclosures:
- Bankruptcy: Declared Chapter 7 bankruptcy in 2015, affecting ongoing financial disputes.
Robert Molinaro Red Flags & Your Rights As An Investor
Of course, Robert Molinaro did not admit to any of the allegations. But regardless of whether an arbitration award was entered, a settlement occurred, or the customer complaint is still pending, the allegations made by customers are red flags which should put all current and former customers of Robert Molinaro at Network 1 Financial Securities Inc. on alert to review carefully the activity and performance of their accounts and question whether Robert Molinaro has engaged in any stockbroker misconduct that may have caused them investment losses. The large number of customer complaints at Network 1 Financial Securities Inc. also raises questions about the brokerage firms’ supervisory practices. If these red flags raise questions, call us and we will inform you of your rights as an investor.
Did You Lose Money Because of Broker Misconduct?
If you have lost money due to negligence or fraud by a stockbroker or advisor, the easiest way to know if you have a case is to call our office at 800-732-2889. Our investment fraud attorneys will evaluate your claim for free and let you know if we can help you recover your losses.
Need Legal Help? Let’s talk.or, give us a ring at 561-338-0037.
File A Claim To Recover Your Investment Losses At Network 1 Financial Securities Inc. Due To Robert Molinaro
If you have questions about Network 1 Financial Securities Inc. and/or Robert Molinaro and the management or performance of your accounts, please contact Attorney Pearce for a free initial consultation via email or Toll Free at 1-800-732-2889.
Rate this Post
Loading...