A recent investor complaint disclosed on Jamestown, North Dakota financial advisor Paul Witthauer’s (CRD# 1672263) BrokerCheck report concerns allegations regarding...Read More
Gerald Brodsky: Barred NYC Rep Has $800k Concord Group Complaint
Ex-Dinosaur Financial Group representative Gerald Brodsky (CRD# 1172647) was barred by the Financial Industry Regulatory Authority (FINRA) from acting as a broker or otherwise associating with a broker-dealer firm. According to FINRA, he was registered with the firm’s branch office in New York City and is the subject of a pending customer complaint.
Gerald Brodsky’s BrokerCheck report discloses one pending customer complaint against him. It also describes a 2019 FINRA sanction barring him from the industry. According to a Letter of Acceptance, Waiver and Consent, Brodsky received a letter from FINRA on May 17, 2019 requesting documents and information “in connection with FINRA’s review of his outside business activities.” A response to the letter was due by May 31, 2019, and Brodsky requested and received an extension until June 14, 2019. According to FINRA, on that date he provided “a partial, but incomplete, response to FINRA’s request,” and his lawyer “confirmed to FINRA staff” that he would not produce the remaining requested documents. As such, FINRA found that he violated FINRA Rule 8210, which allows FINRA to require persons under its jurisdiction to provide information concerning matters involved in its investigations. Brodsky consented to a bar from association with any FINRA member in any capacity.
The pending investor complaint against Gerald Brodsky was filed in October 2020. It alleges that from August 2015 until December 2015, the customer “made investments in a private placement of Concord Group Holdings” which the customer alleges was a “Ponzi scheme.” The pending complaint alleges damages of $800,000.
According to the Financial Industry Regulatory Authority, Gerald Brodsky holds 16 years of securities industry experience. Over the course of those ten years he was registered with ten broker-dealer firms. His registration history includes Dinosaur Financial Group (New York, New York; 2014-2016), Emerald Point Capital (Oakdale, New York; 2009-2013), Torsiello Securities (New York City; 2007-2009), Intercoastal Financial Services (New York City; 2006), Great Eastern Securities (New York City; 2005-2006), Harmonic Research Inc. (New York City; 2000-2004), Euro Brokers (New York City; 1997-2000), Lowenbaum & Company (Austin, Texas; 1997), Banca IMI Securities (New York City, 1991-1992), and Mabon Nugent & Co (1991). He has passed the Uniform Securities Agent State Law Examination (Series 63), the Securities Industry Essentials Examination (SIE), the General Securities Representative Examination (Series 7), and the General Securities Principal Examination (Series 24). He does not currently hold any state licenses. (Information current as of November 14, 2021.)