Nicholas Palumbo, of Park Avenue Securities, Barred by FINRA – ARMONK, NEW YORK
Have you lost money with financial advisor Nicholas R. Palumbo of Armonk, New York? We are investigating allegations made by FINRA, the Financial Industry Regulatory Authority, against Nicholas Palumbo. FINRA barred Palumbo after he failed to respond to an investigation. Palumbo was being investigated after he was alleged to have engaged in undisclosed outside business activities and private securities transactions.
Nicholas Palumbo was a financial advisor and registered representative of Park Avenue Securities from 1999 to May 2020. He worked at a branch office in Armonk, New York. Palumbo was also terminated by Park Avenue Securities.
Brokerage firms have a responsibility to adequately supervise all representatives who are registered through their firm. Brokerage firms also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies. When brokerage firms fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers.
Israels & Neuman PLC is a securities and investment fraud law firm with offices in Denver, Colorado; Phoenix, Arizona; Seattle, Washington; and Ann Arbor, Michigan. We represent investors in FINRA arbitration proceedings in all 50 states, including investors in New York in the past. Our attorneys have represented over one thousand investors against many brokerage firms in the past, including against Park Avenue Securities.
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