Newbridge Securities Corporation broker Philip Gibson (CRD# 2905474) is accused of investment losses related to alternative investments. He has been registered with Newbridge Securities Corporation in Fort Lauderdale, Florida since 2001.
In November 2017, “Newbridge Securities Corporation (NSC) entered into a Stipulation with the NY State Dept. of Financial Services (DFS) relating to an inadvertently late report of a prior regulatory action against NSC in connection with its securities business. Even though the underlying regulatory action had nothing to do with NSC’s insurance business, the NY State Dept. of Financial Services requires that the matter be reported under its Insurance Laws, through the NIPR system. Philip Gibson was named as an additional respondent in the Stipulation solely in his capacity as the designated producer for the insurance business of NSC; he was not in any way involved in the oversight that led to the late report, nor in the underlying regulatory action that was late reported.” A $1,000 monetary penalty was stipulated.
Philip Gibson Customer Complaints
He has been the subject of two customer complaints between 2003 and 2022, according to his CRD report. The most recent complaint was regarding:
April 2022. “Negligence, Breach of Fiduciary Duty, Breach of Contract, Negligent Supervision, Violation of Securities Laws, and Fraud.” The customer is seeking $135,000 in damages and the case is currently pending. The complaint was regarding alternative investment losses.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, Newbridge Securities Corporation may be liable for investment or other losses suffered by Philip Gibson’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.