Alex Williams (CRD# 2646185), a broker and investment adviser based in New York, has received a pending customer complaint. According...Read More
Sam Aziz: FINRA Bars Ohio David A. Noyes Advisor
A disciplinary action taken by the Financial Industry Regulatory Authority against former Dublin, Ohio broker and investment advisor Sam Aziz (CRD# 1721932) barred him over allegations he refused to appear for on-the-record testimony requested as part of an investigation into his sales practices. A former representative of David A. Noyes & Company and Coastal Equities, Aziz was barred from acting as a broker or otherwise associating with a broker-dealer firm.
According to a Letter of Acceptance, Waiver and Consent (No. 2017052325701), in March 2019 FINRA sent Sam Aziz a request for testimony as part of its investigation into “allegations of excessive trading and unsuitable recommendations involving the use of margin” as well as allegations he attempted to settle a client’s complaint away from his firm. The investigation also concerned allegations he used an undisclosed personal email address as part of his securities business. Following this request, Aziz indicated through counsel that he would not provide the requested testimony. FINRA’s findings state that this refusal constituted violations of FINRA Rules 8210 and 2010. As a result of the foregoing alleged conduct, he was barred from associating with any FINRA member in any capacity.
Sam Aziz has also been named in a pending complaint by the Ohio Division of Securities in connection to allegations of churning, breach of fiduciary duty, and the execution of unsuitable trades. The complaint remains pending.
Sam Aziz has also been named in several settled or pending customer complaints. A 2017 complaint concerning his conduct at Coastal Equities, for instance, alleged he purchased unsuitable securities without authorization and excessively traded the customer’s accounts; the complaint reached a settlement in 2018 of $210,000.
A 1997 complaint concerning his conduct as a representative of Merrill Lynch alleged Sam Aziz executed unsuitable and unauthorized trading; the complaint reached a settlement of $75,000.
A pending 2019 complaint concerning his activities as a representative of Wells Fargo Advisors Financial Network alleges that he “made unauthorized, unsuitable, and excessive trades in the client’s accounts.” The claimant alleges damages of $447,000.
Sam Aziz is not currently registered as a broker or investment advisor. His employment history includes David A. Noyes & Company in Dublin, Ohio, Coastal Equities, Wells Fargo Advisors Financial Network, JJB Hilliard WL Lyons, Citigroup Global Markets, JC Bradford & Company, Merrill Lynch, and American Express Financial Advisors. He currently holds no state registrations and has passed five securities industry qualification examinations.