Ex-Englewood stockbroker George McCaffrey (CRD# 847377) was recently sanctioned by the Financial Industry Regulatory Authority and barred from acting as...Read More
David Martirosian: NYC Rep Barred Over Trading Allegations
David Martirosian (CRD# 5261144), previously a broker registered with Joseph Stone Capital in New York City, has been sanctioned by the Financial Industry Regulatory Authority (FINRA) in connection to allegations he made potentially unsuitable and excessive trades. He has been barred from associating with FINRA member firms.
According to a Letter of Acceptance, Waiver and Consent (No. 2019063251701) dated April 2021, David Martirosian was registered with Joseph Stone Capital when, on March 22, 2021, FINRA sent him a request to produce documents and information related with its investigation into allegations he made unsuitable and excessive trades, as well as allegations he may have participated in “an undisclosed private securities transaction while associated with Joseph Stone.” FINRA’s AWC Letter states that Martirosian acknowledged via counsel in April 2021 that he had received the request but would not produce the requested documents or information “at any time.” FINRA found that his refusal to produce such constituted violations of FINRA Rules 8210 and 2010. As a result, it barred him from associating with any FINRA member firm “in all capacities.”
David Martirosian’s BrokerCheck report also lists one denied investor complaint against him. Filed in 2015, the complaint alleged that while Martirosian was a representative of Legend Securities, he made an unauthorized transaction. The complaint alleged damages of $10,696, but it was denied by the firm.
According to the Financial Industry Regulatory Authority (FINRA), David Martirosian holds 13 years of securities industry experience and is currently barred from acting as a broker. His prior registrations include Joseph Stone Capital in New York, New York; Spartan Capital Securities in Garden City, New York; Caldwell International Securities in Nassau; Legend Securities in Oyster Bay, New York; SCF Securities in Fresno, California; John Carris Investments in Hoboken, New Jersey; Cape Securities in Bayside, New York; John Thomas Financial in New York, New York; and National Securities Corporation in Huntington, New York. He has passed four securities industry qualifying examinations: the Uniform Securities Agent State Law Examination, or Series 63; the Securities Industry Essentials Examination, or SIE; the General Securities Principal Examination, or Series 24; and General Securities Representative Examination, or Series 7. He currently holds zero state securities licenses. (Information current as of August 19, 2021.)