Todd Cohen: $200K Complaint Against Aegis Advisor

Melville, New York financial advisor Todd Cohen (CRD# 2918824) allegedly made misrepresentations of material facts, according to a recent investor complaint. Financial Industry Regulatory Authority records show that he is registered as a broker with Aegis Capital.

Mr. Cohen’s BrokerCheck report discloses two investor complaints. The most recent, filed in April 2026, alleges that as a representative of Aegis Capital Corporation, he recommended an unsuitable corporate bond investment, breached his fiduciary duty, and made misrepresentations of material facts. The pending complaint alleges damages of $200,000.

An earlier investor complaint, filed in 2018, alleged that as a representative of Aegis Capital, he recommended an unsuitable investment. In 2019 the complaint reached a settlement of $375,000.

FINRA rules stipulate that brokers like Mr. Cohen can only recommend that their clients invest in what are known as suitable investments and/or strategies. What this means, according to FINRA Rule 2111, is that brokers must “have a reasonable basis to believe that a recommended transaction or investment strategy” is appropriate for a customer’s background and objectives. They must arrive at this basis through reasonable diligence into the customer’s investment profile. They are similarly required by FINRA Rule 2020 to make their recommendations without using “manipulative, deceptive or other fraudulent device[s] or contrivance[s],” while FINRA Rule 2010 requires them to “shall observe high standards of commercial honor and just and equitable principles of trade.” In other words, brokers may not make misrepresentations of material facts relating to the investments they recommend, as these misrepresentations may lead investors to purchase unsuitable products. FINRA-registered persons who advise their clients to invest unsuitably may be found liable in the event of losses.

According to the Financial Industry Regulatory Authority, Todd Cohen holds 27 years of securities industry experience. Based in Melville, New York, he has been registered as a broker with Aegis Capital since 2012. His past registrations include Paulson Investment Company, Gunnallen Financial, Wachovia Securities, Prudential Securities, and Lehman Brothers. His credentials include the passage of four securities industry qualifying exams: the Securities Industry Essentials Examination, or SIE; the Uniform Investment Adviser Law Examination, or Series 65; the Uniform Securities Agent State Law Examination, or Series 63; the General Securities Representative Examination, or Series 7. He is licensed in California, Connecticut, the District of Columbia, Florida, Georgia, Illinois, Minnesota, New Jersey, New York, North Carolina, Ohio, Pennsylvania, South Carolina, Texas, and Virginia. (Information current as of July 3, 2026.)

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