Another Former Aegis Capital Corp. Advisor, Scott Hananel, Handed Lengthy Suspension by FINRA

MELVILLE, NY

Have you lost money investing with financial advisors at Aegis Capital Corp.? The investment fraud and securities arbitration law firm of Israels & Neuman is continuing to look into allegations made by FINRA (the Financial Industry Regulatory Authority) against financial advisors at Aegis Capital. Scott Hananel was recently suspended by FINRA for 15 months and fined $7,500 for allegations that he engaged in excessive trading or churning. Another Aegis Capital advisor, Arkady Ginsburg, was also recently suspended for churning.

FINRA alleged that Hananel excessively traded at least six customers’ accounts between 2014 and 2018. The customers had cost-to-equity ratios of between 26.57 and 55.61. To put that in context, if an account has a cost-to-equity ratio of 20, that means that the account most make a profit of 20 percent to break even from the costs of the trading.

Scott Hananel had been a financial advisor with Aegis Capital Corp. from 2010 to February 2021. He has also been the subject of at least six customer complaints. He worked at an office in Melville, New York.

Financial advisors have a duty to make suitable investment recommendations to their customers. Moreover, firms like Aegis Capital Corp. have a duty to supervise their advisors to ensure that they comply with FINRA rules, including suitability obligations.

Our investment fraud law firm has offices in Denver and Seattle but represents investors all over the country. We have recovered millions of dollars for investors in the past, including investors who have sued Aegis Capital Corp.

View FINRA AWC: Hananel, Scott FINRA AWC

View BrokerCheck: Hananel, Scott BrokerCheck 3.30.22

If you lost money with Scott Hananel or Aegis Capital Corp., contact the law firm of ISRAELS & NEUMAN at (720) 599-3505 or (206) 795-5798 for a Free evaluation of your case.