Switch to ADA Accessible Theme
Close Menu
Free Consultation: 888-976-6111

David Silberg: Garden City Financial Advisor Sanctioned

A disciplinary action taken by state securities authorities against Garden City, New York broker and investment advisor David Silberg (CRD# 1970484) sanctioned him in connection to allegations of forgery, misrepresentations, unauthorized trading, and more. A representative of Allied Millennial Partners, Silberg was placed on heightened supervision for two years.

Dated September 2018, the action taken by the Massachusetts Securities Division stated that David Silberg “has been the subject of five customer complaints,” detailing such allegations as forgery of a loan form and check, the misrepresentation of costs associated with a life insurance policy transfer, the misrepresentation of the consequences that would result from an annuity sale, the execution of unauthorized trades, the recommendation of unsuitable investments, and the misrepresentation and omission of material facts. Silberg entered into a consent order with regulators placing him on heightened supervision for two years, and stipulating that he “will not solicit or meet with new Massachusetts customers and will not service accounts for new Massachusetts customers.”

David Silberg’s disclosure records also list two customer complaints against him.

A 2016 complaint alleged that from 2013 until the present, he recommended unsuitable investments, misrepresented material facts, and omitted material facts connected to an investment in a corporate debt security. The complaint reached a settlement in 2017 of $29,750.

A 2009 complaint alleged that as a representative of Gunnallen Financial, Silberg recommended unsuitable investments, failed in his supervisory duties, and executed unauthorized trades. The complaint reached a settlement of $50,000.

David Silberg is currently registered with Allied Millennial Partners in Garden City, New York, where he has been registered since 2018. His employment history includes Aegis Capital in Melville, New York; Gunnallen Financial in Farmingdale, New York; Great Eastern Securities in New York, New York; Kirlin Securities in Syosset, New York; Maxim Group in New York, New York; Investec Ernst in New York, New York; Northeast Securities in Mitchelfield, New York; Triad Financial in Holbrook, New York; NYLife Securities in New York, New York; John Hancock Distributors in Boston, Massachusetts; and John Hancock Mutual Life Insurance Company in Boston, Massachusetts. He currently holds five state licenses and has passed 19 securities industry qualification examinations.

Facebook Twitter LinkedIn
Contact Us For A Free Case Evaluation
Latest Blog Posts
  • FINRA Bars Ex-LPL Broker Patrick Coogan: “Reckless Misrepresentation”

    Former Baton Rouge, Louisiana-based LPL Financial broker Patrick Coogan (CRD# 4576580) has been barred by the Financial Industry Regulatory Authority...

    Read More
  • Lazaros Coss: FINRA Bars Los Angeles Broker

    Lazaros Coss (CRD# 6476885), previously a broker registered with Northwestern Mutual Investment Services, was recently the subject of a disciplinary...

    Read More
  • Tim Hetrick: Boise Broker Sanctioned Over Alleged Forgeries

    Former US Brokerage broker Tim Hetrick (CRD# 2048466) has been sanctioned by the Financial Industry Regulatory Authority (FINRA) in connection...

    Read More
  • Steve Lu: Ex-JP Morgan Broker Investigated and Barred by FINRA

    Steve Lu (CRD# 6856088), previously a representative of JP Morgan in Altadena, California, has been sanctioned by the Financial Industry...

    Read More
  • Previous
  • Next