Alex Williams (CRD# 2646185), a broker and investment adviser based in New York, has received a pending customer complaint. According...Read More
Michael Fasciglione: Former National Securities Broker Receives Complaints, Suspension
Investor complaints against the former National Securities Corporation broker Michael Fasciglione (CRD# 1806486) allege conduct including suitability violations, breach of fiduciary duty, and negligence by the Bayside, New York-based representative. One such complaint alleges damages of $467,000, while another reached a settlement of $525,000. His disclosure history also contains a suspension by the Financial Industry Regulatory Authority, according to information drawn from FINRA records. He is currently registered with Aegis Capital’s Bayside location.
Michael Fasciglione allegedly committed a breach of his fiduciary duty to act in his customers’ best interests, and made recommendations to invest in unsuitable real estate products, according to a pending 2018 customer complaint concerning his conduct at National Securities Corporation. That complaint alleges damages of $467,000.
Michael Fasciglione allegedly made an unsuitable recommendation to a customer who filed a pending 2018 complaint concerning his employment at National Securities Corporation. The complaint alleges damages of $12,703.
Michael Fasciglione allegedly made an unsuitable recommendation, violated his fiduciary duty, and was negligent in carrying out his duties, according to a 2017 complaint concerning his conduct at National Securities Corporation. The complaint reached a settlement of $135,000.
Another 2014 complaint alleged that as a representative at National Securities Corporation, he committed breach of contract, violated his fiduciary duty, made suitability violations, and was negligent in his conduct connected to private placement investments. The complaint reached a 2016 settlement of $525,000.
His history as a broker also includes a disciplinary action. In 2014, he was sanctioned by FINRA over allegations he did not timely file his disclosure form to disclose a federal tax lien against him. He was fined $5,000 and given a suspension lasting one month.
A 2002 complaint alleged that as a representative at Josephthal and Company, Mr. Fasciglione committed breach of contract, made negligent misrepresentations and omissions, executed unauthorized trades, and violated his fiduciary duty. The complaint concluded with an award to the claimant of $300,000.
Michael Fasciglione entered the securities industry in 1988 and is currently a representative at Aegis Capital in New York, where he has been employed since 2017. His employment history includes National Securities Corporation, First Montauk Securities Securities Corporation, Oppenheimer & Company, Josephthal & Company, Continental Broker-Dealer Corporation, Chatfield Dean & Company, the Stuart-James Company, Robert Todd Financial Corporation, Vanderbilt Securities, and JT Moran & Company. He holds six state registrations and has passed five securities industry qualification examinations. (Information current as of August 9, 2019.)