{"id":11764,"date":"2025-10-15T11:34:52","date_gmt":"2025-10-15T15:34:52","guid":{"rendered":"https:\/\/www.silverlaw.com\/blog\/?p=11764"},"modified":"2025-10-15T11:35:43","modified_gmt":"2025-10-15T15:35:43","slug":"former-gms-group-broker-nicholas-armellino-barred-by-finra","status":"publish","type":"post","link":"https:\/\/www.silverlaw.com\/blog\/former-gms-group-broker-nicholas-armellino-barred-by-finra\/","title":{"rendered":"Former GMS Group Broker Nicholas Armellino Barred By FINRA"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"alignleft wp-image-11768 size-full\" src=\"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2025\/10\/Blog-Graphics20.png\" alt=\"Nicholas Armellino (CRD# 3189691), a broker working for GMS Group in Jersey City, New Jersey, was recently barred because he refused to appear for on-the-record testimony requested by FINRA in connection with an investigation that originated from a regulatory tip submitted to FINRA. This refusal to provide testimony during a regulatory investigation violated FINRA Rule 8210. He did not admit or deny the findings. Armellino did initially cooperate with FINRA\u2019s investigation, but then he stopped.\n\nNicholas Armellino had 11 disclosures during his 25 years of working as a broker. Five of these investor disputes from 2006 through 2016 were settled by the brokerage firm giving the client money in return for the damages.\u00a0 They included allegations such as unauthorized trading, making unsuitable investments and misrepresentations regarding certain securities, failing to provide the client with several notices of material events prior to the customer\u2019s purchase of a bond and excessive trading in an unsuitably leveraged account. Two of the investor disputes were denied, which means that the broker and or their firm revied the customer\u2019s complaint and determined that it is unfounded or lacks merit. It does not necessarily mean the complaint was false, but they did not find sufficient evidence to support the customer.\" width=\"300\" height=\"200\" srcset=\"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2025\/10\/Blog-Graphics20.png 300w, https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2025\/10\/Blog-Graphics20-180x120.png 180w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/>Nicholas Armellino (<a href=\"https:\/\/brokercheck.finra.org\/individual\/summary\/3189691\" target=\"_blank\">CRD# 3189691<\/a>), a broker working for GMS Group in Jersey City, New Jersey, was recently barred because he refused to appear for on-the-record testimony requested by FINRA in connection with an investigation that originated from a regulatory tip submitted to FINRA. This refusal to provide testimony during a regulatory investigation violated FINRA Rule 8210. He did not admit or deny the findings. Armellino did initially cooperate with FINRA\u2019s investigation, but then he stopped. <a href=\"https:\/\/www.silverlaw.com\/blog\/former-gms-group-broker-nicholas-armellino-barred-by-finra\/#more-11764\" class=\"more-link\">Continue reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Nicholas Armellino (CRD# 3189691), a broker working for GMS Group in Jersey City, New Jersey, was recently barred because he refused to appear for on-the-record testimony requested by FINRA in connection with an investigation that originated from a regulatory tip submitted to FINRA. This refusal to provide testimony during a regulatory investigation violated FINRA Rule [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[577,580],"tags":[],"class_list":["post-11764","post","type-post","status-publish","format-standard","hentry","category-finra-disciplinary-actions","category-stockbroker-misconduct"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Former GMS Group Broker Nicholas Armellino Barred By FINRA &#8212;<\/title>\n<meta name=\"description\" content=\"Nicholas Armellino, a broker working for GMS Group in Jersey City, New Jersey, was recently barred by FINRA.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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