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Articles Tagged with First Standard Financial Company

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Roy Joseph Failla (CRD #2786551) is a registered broker who is currently employed with First Standard Financial Company LLC (CRD #168340) of Red Bank, NJ. His previous employers include Alexander Capital, L.P. (CRD #40077), Brookstone Securities, INC. (CRD #13366, expelled by FINRA on 10/09/2012) and J.P. Turner & Company, L.L.C. (CRD #43177), all of Staten Island, NY. He has been in the industry since 1998.

https://www.silverlaw.com/blog/wp-content/uploads/2017/07/FINRA-Permanently-Bars-Honetta-C.-Kao-After-Allegations-of-Unauthorized-Trading-and-Mishandled-Accounts-300x200.jpgA customer dispute filed on 5/29/2018 alleges that Failla engaged in “unauthorized trading and unsuitable investments,” and requests damages of $1,500,000. Failla denies the allegations.

Two of Failla’s previous disputes were filed during Failla’s tenure at Brookstone Securities. The first, filed on 2/19/2010, alleged “excessive and unauthorized trading, fraud, breach of fiduciary duty, misrepresentation and unsuitability.”  This customer requested damages of $299,817.48, and the case settled for $75,000. The second case, filed on 5/25/2010, alleged “churning, unsuitable trades and misrepresentation.”  The client requested damages of $417,000.00, and the case was settled for $40,000.

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