Israels & Neuman, PLC investigates RONALD M. BERMAN of AXIOM CAPITAL MANAGEMENT, INC.

Have you lost money with financial advisor RONALD M. BERMAN (CRD# 19728) of AXIOM CAPITAL MANAGEMENT, INC. (CRD# 26580 / SEC# 8-42638) of New York, New York?  We are investigating allegations of regulatory agencies related to Ronald Berman. Ronald Berman’s CRD report, a public record maintained by FINRA, states that:

On December 11, 2014, FINRA denied the membership continuance application (mc-400) submitted by Mr. Berman’s broker-dealer (“axiom”) based upon Mr. Berman’s disciplinary and regulatory record, Axiom’s failure to show that it could effectively supervise Mr. Berman, and Mr. Berman’s outstanding loans, and the conflict presented by these loans. As a result of the denial of the MC-400 application, Mr. Berman’s general securities representative registration was revoked by FINRA. Based upon the FINRA revocation, the division sought to revoke Mr. Berman’s agent registration.

Berman’s CRD further states:

Mr. Berman, for a period of five (5) years from the date of issuance of the consent order, agrees not to reapply for registration in Maryland as a broker-dealer, agent, investment adviser, or investment adviser representative.

Ronald Berman’s securities license was also suspended in the state of Vermont for the unauthorized trading of his client’s accounts.  In the past, Berman has been the subject of numerous customer lawsuits, where he paid out roughly $400,000.00 to his clients in damages.  He was previously fined an aggregate of $80,000.00 by various regulatory agencies related to his practices in the securities industry.

Ronald Berman was previously a registered representative of Axiom Capital Management, Inc. from May of 2003 to December of 2014.   Prior to that, he was registered with Bear, Stearns & Co., Inc. from October 1977 to May of 2003.

Brokerage firms 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 and the Seattle area.  We represent investors in FINRA arbitration proceedings in all 50 states, including investors in New Jersey. Our attorneys have represented over one thousand investors against many brokerage firms in the past, including AXA Advisors, LPL Financial, Merrill Lynch, Morgan Stanley, Smith Barney, Stifel Nicolaus & Company, UBS Financial Services, Oppenheimer, Charles Schwab, Wells Fargo Advisors, Ameriprise Financial Services, Raymond James, ProEquities, Securities America, National Securities Corp., and many others.

If you lost money with RONALD M. BERMAN or AXIOM CAPITAL MANAGEMENT, INC., please Contact Us at 720-599-3505 for a free evaluation of your case.

Click to view:  Berman Consent Order

Click to view:  Berman BrokerCheck