Investigation of First Standard Financial Company LLC Financial Advisor Roy Failla
Posted on Wednesday, October 3rd, 2018 at 4:43 pm
First Standard Financial Company LLC financial advisor Roy Failla (CRD# 2786551) is accused of unauthorized trading and unsuitable investments. Failla has been registered with First Standard Financial Company LLC in Red Bank, New Jersey since 2014.
Failla has been the subject of three customer complaints between 2010 and 2018, according to his CRD report. The most recent complaint is regarding:
May 2018. “Client is alleging unauthorized trading and unsuitable investments.” The customer is seeking $1.5 million in damages and the case is currently pending. This case is regarding common and preferred stocks.
Settled cases from 2010 are regarding churning, unsuitable trades, misrepresentation, and excessive and unauthorized trades.
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, First Standard Financial Company LLC may be liable for investment or other losses suffered by Failla’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If and 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.