Investors Bring FINRA Arbitration Claim Against National Securities For Unauthorized Trading
Vincent James Mazza of Jersey City New Jersey a stockbroker formerly registered with National Securities Corporation is the subject of a customer initiated investment related arbitration claim where the customer sought $400,000.00 in damages supported by allegations that unauthorized over-the-counter equities trades were effected in the customer’s account during the time that Mazza was associated with National Securities Corporation. Financial Industry Regulatory Authority (FINRA) Arbitration No. 20-00844 (Apr. 21, 2020).
Mazza has been referenced in five more customer initiated investment related disputes containing accusations of his misconduct while employed by securities broker dealers including National Securities Corporation, Kovack Securities and JP Turner Company. Mazza has been referenced in a customer initiated investment related complaint in which the customer requested more than $5,000.00 in damages founded on allegations of excessive commissions and high pressure sales tactics by Mazza at JP Turner as it concerned the customer’s investments in over-the-counter equities. The complaint alleges that Mazza improperly solicited the customer’s investments.
Another customer initiated investment related arbitration claim involving Mazza’s conduct was settled for $9,000.00 in damages based upon accusations that securities fraud laws had been violated by Mazza at Kovack Securities. The complaint alleges that Mazza used deceptive practices in relation to the customer’s over-the-counter equities investments. According to the complaint, a contract between the customer and the securities broker dealer had been breached.
Mazza is also the subject of a customer initiated investment related written complaint where the customer sought more than $5,000.00 in damages supported by allegations that trades were executed in the customer’s account without authorization. Margin was allegedly misused by Mazza to effect over-the-counter equities transactions. Another customer initiated investment related arbitration claim concerning Mazza’s activities was resolved for $47,500.00 in damages founded on accusations of Mazza breaching a fiduciary duty that was owed to the National Securities Corporation customer. The claim also alleges breach of contract and that Mazza’s negligence resulted in the customer’s losses on private placements and equities.
Mazza has been referenced in a customer initiated investment related written complaint in which the customer requested $40,000.00 in damages based upon allegations that Mazza charged the customer an excessive amount in commissions on stock trades effected by him at National Securities Corporation.
Mazza has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by accusations that he failed to cooperate with FINRA’s requests. Case No. 2018060932001 (Oct. 28, 2019). The stockbroker was asked for information by the regulator in 2019 but failed to comply. He was suspended between August 19, 2019 and October 27, 2019 for his non-compliance. He was provided an opportunity to honor FINRA’s requests even after being suspended. His lack of a response by the October 27, 2019 deadline caused his suspension to convert to an automatic bar.
Mazza was registered with National Securities Corporation until December 18, 2018.