Philip Marchese, Formerly with Spartan Capital Securities, Suspended 12 Months from Securities Industry

NEW YORK, NY

The investment fraud and securities arbitration law firm of Israels & Neuman is looking into a regulatory complaint made by FINRA, the Financial Industry Regulatory Authority, against Philip Marchese.  In 2022, FINRA brought a regulatory action against Marchese and suspended him from the securities industry for 12 months, as well as ordering $50,000 in partial restitution.   Marchese was alleged to have engaged in excessively trading, or churning, at least four customers’ accounts.  These customers lost a combined $240,000 from Marchese’s trading.

Philip Marchese, from New York City, had been a financial advisor and registered representative of Spartan Capital Securities from August 2017 to June 2020, and again from June 2021 to March 2022.  He was also with Joseph Stone Capital and Worden Capital Management.  Marchese was also the subject of one customer complaint made in 2015.

Securities brokerage firms like Spartan Capital Securities have a responsibility to adequately monitor the conduct of its stockbrokers and financial advisors.  FINRA Rule 3110 requires such supervision.  If a securities brokerage firm fails to adequately supervise their representatives, the firm may be liable for investment losses sustained by customers.

Israels & Neuman PLC is a securities and investment fraud law firm that represents investor in FINRA arbitration proceedings throughout the country, including investors in New York in the past.  Our attorneys have represented over one thousand investors against many brokerage firms in the past.

View BrokerCheck Report:  Marchese, p BrokerCheck 4.25.22

View FINRA AWC:  Marchese, p FINRA AWC

If you lost money with Philip Marchese or Spartan Capital Securities, please Contact Us at 720-599-3505 or 206-795-5798 for a free evaluation of your case.