Another Newbridge Stockbroker Barred By FINRA In Investigation
Marshall Owen Isaacson of Boca Raton Florida a stockbroker formerly associated with Newbridge Securities Corporation has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that Isaacson failed to cooperate with FINRA’s investigation into allegations that he provided unsuitable investment advice to customers. Letter of Acceptance Waiver and Consent No. 2019062552401 (July 20, 2020).
According to the AWC, FINRA received word on May 22, 2019 that Isaacson was terminated from the securities broker dealer. The AWC stated that an investigation was opened up into Isaacson’s investment recommendations to determine whether he violated FINRA suitability rules. The AWC revealed that the stockbroker at first cooperated with the regulator but he stopped doing so in July of 2020. On July 8, 2020, a request was sent to Isaacson from FINRA which called upon him to hand over information and documentation to comply with FINRA’s investigation.
On July 9, 2020, the regulator spoke with Isaacson at which time the stockbroker made clear that he received FINRA’s request but would at no point turn over any information and documentation in FINRA’s investigation. The stockbroker’s obstruction of FINRA’s violation constituted the violation of FINRA Rules 2010 and 8210.
FINRA Public Disclosure confirms that Isaacson has been identified in six customer initiated investment related disputes concerning accusations of his misconduct while employed by National Securities Corporation and Newbridge Securities Corporation. On October 5, 2017, a customer initiated investment related arbitration claim concerning Isaacson’s activities was resolved for $215,000.00 in damages founded on accusations that over-the-counter equities were unsuitable for the customer and that unauthorized trades were executed in the customer’s National Securities Corp account. FINRA Arbitration No. 16-00627.
Isaacson has also been referenced in a customer initiated investment related arbitration claim which was settled for $92,000.00 in damages supported by allegations that inappropriate over-the-counter equities transactions were executed in the customer’s account. FINRA Arbitration No. 16-00627 (Aug. 14, 2017).
On April 18, 2019, another customer filed an investment related arbitration claim in reference to Isaacson’s conduct where the customer sought $60,000.00 in damages based upon accusations that misrepresentations were made to the customer and that a contract was breached in regard to the stockbroker’s sale of alternative investments during the time that he was associated with Newbridge Securities Corporation. FINRA Arbitration No. 19-01070. According to the claim, a fiduciary duty that was owed to the customer had been breached and Isaacson’s negligence resulted in the customer’s losses.
Isaacson is also the subject of a customer initiated investment related arbitration claim on January 10, 2020 in which the customer requested $100,000.00 in damages based upon allegations of misrepresentation and suitability relating to real estate security products sold to the National Securities Corporation customer by the stockbroker. FINRA Arbitration No. 20-00098. On June 9, 2020, another customer initiated investment related arbitration claim concerning Isaacson’s activities was resolved for $14,999.00 in damages founded on accusations that alternative investment transactions were misrepresented by Isaacson when he was employed by Newbridge Securities Corporation. FINRA Arbitration No. 19-01070. The claim alleges negligence and the breach of both a fiduciary duty and a contract relating to a 1031 exchange.
Isaacson has been referenced in another customer initiated investment related arbitration claim which was settled for $11,125.00 in damages supported by allegations that the customer was placed into an inappropriate variable annuity and other risky investments. FINRA Arbitration No. 19-01098 (June 2, 2020). According to the claim, Isaacson breached a contract and breached a fiduciary duty. The claim alleges that the stockbroker facilitated the sale of unsuitable investments including mutual funds and over-the-counter equities while at National Securities Corporation and at Newbridge Securities Corporation.
Isaacson’s registration with Newbridge Securities Corporation has been terminated as of May 22, 2019.