Douglas Szempruch, formerly with Aegis Capital, Suspended by FINRA
MELVILLE, NEW YORK – Have you lost money with financial advisor Douglas Szempruch of Melville, New York? We are looking into allegations made against Douglas Szempruch. FINRA, the Financial Industry Regulatory Authority, suspended Douglas Szempruch from the securities industry for 12 months and ordered him to pay nearly $100,000 in restitution. Szempruch was alleged to have excessively traded or churned accounts while he was affiliated with Aegis Capital.
Douglas Szempruch was a representative of Aegis Capital from June 2011 to June 2021. He worked at a branch office in Melville, New York. Szempruch has also been the subject of 2 customer complaints.
Brokerage firms like Aegis Capital have a responsibility to adequately supervise all representatives who are registered through their firm. Brokerage firms also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies. When brokerage firms fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers.
Israels & Neuman PLC is a securities and investment fraud law firm with offices in Denver, Colorado; Seattle, Washington; Phoenix, Arizona; and Ann Arbor, Michigan. We represent investors in FINRA arbitration proceedings in all 50 states, including investors in New York. Our attorneys have represented over one thousand investors against many firms in the past, including against Aegis Capital.
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