BMA Securities, LLC Broker Martin Noonan Jr. Accused of Unsuitable Investment Recommendations
Posted on Monday, July 20th, 2020 at 7:22 pm
Erez Law is currently investigating BMA Securities, LLC broker Martin Noonan Jr. (CRD# 2982159) regarding unsuitable investment recommendations. Noonan has been registered with BMA Securities, LLC in El Segunda, California from 2013 to 2020.
In May 2020, FINRA barred Noonan after he consented to the sanction and to the entry of findings that he refused to produce information or documents requested by FINRA during an investigation that it began after reviewing a Dispute Resolution Statement of Claim filed against him and his member firm alleging unsuitable and excessive trading in a client account.
Noonan has been the subject of one customer complaint in 2018, according to his CRD report:
November 2018. “Claimants accounts were allegedly mismanaged or that the account representative engaged in unsuitable or excessive trading while at Equibond Inc (ending 12/2013) or BMA Securities LLC (3/2014 -8/2017).” The customer is seeking $250,000 in damages and the case is currently pending. The complaint took place while Noonan was registered with Equibond Inc. and BMA Securities LLC and was regarding common and preferred stocks.
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, FIRM may be liable for investment or other losses suffered by Noonan’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.