DID GABRIEL BLOCK CAUSE YOU INVESTMENT LOSSES?
Gabriel Block formerly with First Standard Financial Company, LLC And National Securities Corporation Has 13 Customer Complaints for Alleged Broker Misconduct
Who is Gabriel Block formerly with First Standard Financial Company, LLC?
Gabriel Block (CRD #2103543) who was formerly registered with First Standard Financial Company, LLC and located in Red Bank, New Jersey is a subject of one of our many securities industry sales practice abuse investigations.
Prior to First Standard Financial Company, LLC, Gabriel Block was associated with National Securities Corporation and 8 other investment advisory and brokerage firms with a history of customer complaints and securities industry regulatory problems.
Incredibly, Gabriel Block has been the subject of 5 separate regulatory actions. Most recently, the State of New Jersey alleged that Gabriel Block engaged in dishonest or unethical business practices in the securities business; by consent, he was fined $291,600. FINRA has barred him for failing to respond to a FINRA request for information in connection with 1 of its investigations and permanently barred him from further association with any member firm in the securities industry.
FINRA had previously suspended him for failing to comply with an arbitration award or settlement agreement or to satisfactorily respond to a FINRA request to provide information concerning the status of compliance. Gabriel Block had previously been investigated by the Delaware Investor Protection Unit which filed an administrative complaint that was settled by consent and resulted in Gabriel Block relinquishing his right to reapply for future registration as a broker-dealer or agent in Delaware.
This event was subsequently viewed as a statutory disqualification, and when Gabriel Block sought relief from that statutory disqualification it was denied.
First Standard Financial Company, LLC Broker Misconduct
In his career, Gabriel Block has been the subject of 13 customer complaints that we know about, 4 of those complaints were filed in the last two years to recover investment losses. Six of Gabriel Block’s 13 customer complaints were settled in favor of investors. Four of those complaints were denied by his employer’s and the investors took no further action to date.
There are currently 3 pending customer complaints filed against Gabriel Block’s former employer First Standard Financial Company, LLC for investment losses caused by his alleged misconduct.
Allegations Against Gabriel Block
A sample of the allegations made in the FINRA reported arbitration claim settlements and pending complaints for investment losses are as follows:
- Suitability, excessive trading, breach of fiduciary duty, and negligence.
- The claimant alleges the financial advisor made unauthorized and unsuitable purchases of Puerto Rico Bonds in claimants account; that Block mismanaged his accounts and engage and unsuitable unauthorized trading and churning.
- Breach of fiduciary duty, suitability, and negligence relating to over-the-counter equity transactions.
- Breach of fiduciary duty, suitability, negligence, and breach of contract.
- The claimant asserts claims for churning, unsuitability, breach of fiduciary duty, and related claims in connection with Gabriel Block’s handling of her account.
- The claimant alleges that her retirement savings were concentrated in positions that were unsuitable based on the claimant’s investment objectives and risk tolerance.
- Delaware client alleges that his former financial advisor mismanaged the handling of his investments.
- The claimant alleges claims are unsuitability, breach of fiduciary duty, and breach of contract.
- Claimants alleged unauthorized trading, purchase of unsuitable securities, overconcentration of the accounts and risky securities, churning, unauthorized use of margin, material misrepresentations and omissions, and dishonest trade practices.
Gabriel Block Red Flags & Your Rights as An Investor
Of course, Gabriel Block 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 that should put all current and former customers of Gabriel Block at First Standard Financial Company, LLC and National Securities Corporation on alert to review carefully the activity and performance of their accounts and question whether Gabriel Block has engaged in any stockbroker misconduct that may have caused them investment losses.
The large number of customer complaints at First Standard Financial Company, LLC, National Securities Corporation, and Oppenheimer and Co. also raise questions about their supervisory practices. If these red flags raise questions, call us and we will inform you of your rights as an investor.
File A Claim To Recover Your Investment Losses At First Standard Financial Company, LLC, National Securities Corporation, and Oppenheimer and Co.
If you have questions about First Standard Financial Company LLC, National Securities Corporation, Oppenheimer and Co. and/or Gabriel Block 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.
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