Marc Reda, Formerly with Spartan Capital Securities, Barred from Securities Industry

NEW YORK, NY

We are continuing to look into the regulatory complaint made by FINRA, the Financial Industry Regulatory Authority, against Marc Reda.  In 2021, FINRA brought an action, alleging that Reda made unsuitable recommendations by excessively trading (or churning) customers’ accounts.  Reda had a strategy to trade ahead of corporate announcements, but FINRA deemed the trading to be too excessive.  In 2022, FINRA barred Reda from the securities industry regarding these same allegations.

Marc Reda, from New York City, had been a financial advisor and registered representative of Spartan Capital Securities from May 2016 to March 2022.  Reda has been the subject of 12 customer complaints and was permitted to resign by PHX Financial in 2016.

Spartan Capital Securities has a responsibility to adequately monitor the conduct of its stockbrokers and financial advisors.  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.

Click to view:  Reda, m FINRA Complaint

Click to view:  Reda, m FINRA Order

Click to view:  Reda, m BrokerCheck 6.16.21

If you lost money with Marc Reda or Spartan Capital Securities, please Contact Us at (720) 599-3505 for a free evaluation of your case.