Stockbroker Sanctioned by FINRA For Failure To Respond
Fadi Sami Soliman of Liverpool New York a stockbroker formerly registered with IBN Financial Services Inc. has been barred by Financial Industry Regulatory Authority (FINRA) from associating with any FINRA member in any capacity based upon allegations that the stockbroker neglected to respond to FINRA’s request for information about his activities. FINRA Case No. 2018057407901 (Sept. 9, 2019).
FINRA Public Disclosure reveals that Soliman is referenced in two customer initiated investment related disputes in regard to the stockbroker’s violative activities while registered with Ameriprise. Specifically, Soliman is the subject of a customer initiated investment related complaint which was settled for $25,000.00 in damages on December 8, 2017 founded on accusations that trades were executed without the customer’s knowledge or consent; common or preferred stock transactions failed to be suitable for the customer given the customer’s risk tolerance; and transactions were effected on an excessive basis.
Also, a customer filed an investment related complaint in regard to Soliman’s conduct on February 6, 2018 in which the customer sought $33,000.00 in damages supported by allegations that when Soliman was employed by Ameriprise Financial Services, inappropriate sales charges were assessed on mutual funds transactions effected by the stockbroker and the customer was deprived of information about the charges.
Soliman’s employment with IBN Financial Services has been terminated as of April 25, 2019.