As recently reported, former registered representative Marshall Owen Isaacson (CRD# 1140370), previously affiliated with broker-dealer Newbridge Securities Corporation (Newbridge) in Boca Raton, Florida, has been barred from the securities industry by FINRA. Pursuant to a Letter of Acceptance, Waiver and Consent (AWC) effective July 20, 2020—in which Mr. Isaacson neither admitted nor denied the factual findings—the industry bar concerns his alleged refusal “to provide documents and information requested by FINRA in connection with its investigation into whether he made unsuitable investment recommendations.”

Mr. Isaacson was a longtime stockbroker with 35 years of industry experience. Mr. Isaacson entered the securities industry in 1983 and was initially affiliated with J.B. Hanauer & Co. (1983-1987). Most recently—from June 2016 until May 2019—he was affiliated with Newbridge. Through its recent investigation into “whether Isaacson made unsuitable investment recommendations” FINRA issued him a “request for documents and information.” Mr. Isaacson’s purported refusal to provide documents constituted a violation of FINRA Rule 8210, in addition to Rule 2010 which requires industry members to “conduct business with high standards of commercial honor” and “maintain just and equitable principles of trade.”

Publicly available information indicates that Mr. Isaacson has been named or otherwise involved in six customer disputes. Of these FINRA customer disputes, four have resolved through settlement while two remain pending. One of the pending securities arbitrations involves allegations of “suitability and misrepresentation” requesting damages of $100,000 and the other dispute concerns allegations of breach of fiduciary duty, negligence, and misrepresentation related to a 1031 exchange requesting damages of $60,000.

Under applicable securities laws and FINRA Rules, brokerage firms like Newbridge have a duty to ensure that their registered representatives are adequately supervised. In this regard, brokerage firms must take reasonable steps to ensure that their brokers follow applicable securities rules and regulations, as well as adhere to the firm’s internal policies. In those instances when a brokerage firm fails to adequately supervise its brokers, it may be held liable for losses suffered by investors.

Investors who have suffered losses with Marshall Owen Isaacson, or another financial advisor, may contact our office by telephone at (201) 771-1115 or by email at info@gialawgroup.com for a no-cost and confidential consultation to learn more about their legal rights. The attorneys at Giarrusso Law Group LLC have extensive experience with handling all manner of claims on behalf of investors who have been victimized by securities fraud or related misconduct.