Did Jeffrey David Stanga Cause You Investment Losses?
Jeffrey David Stanga of Aliso Viejo, California submitted a Letter of Acceptance, Waiver and Consent to the Financial Industry Regulatory Authority in which he was fined $10,000, suspended from association with any FINRA member in all capacities for a period of 12 months and ordered to pay disgorgement of benefits received in the amount of $28,359, plus interest. The sanctions were based on findings that he allegedly failed to fully disclose his outside business activities and participated in private securities transactions in violation of FINRA Rules 3270, 3280, and 2010. The suspension is in effect from April 5, 2021, through April 4, 2022.
In October 2014, Jeffrey David Stanga joined FMN Capital while registered as a General Securities Representative. According to FINRA’s findings, Stanga allegedly participated in outside business activities and private transactions without notice or approval from his member firm. The findings state that although Stanga had informed his firm of certain outside business activities, he failed to disclose the fact that he served as a manager for an investment-related business and previously sold promissory notes of approximately $1,160,000 to four investors in connection with a real estate brokerage firm. In addition, Stanga received $28,359 in referral fees in connection with the private transactions that he was ordered to pay back. Although Jeffrey David Stanga is no longer registered with a FINRA member firm, he remains subject to FINRA’s jurisdiction.
FINRA Rule 3270 provides that “[n]o registered person may be an employee, independent contractor, sole proprietor, officer, director or partner of another person, or be compensated, or have the reasonable expectation of compensation, from any other person as a result of any business activity outside the scope of the relationship with his or her member firm, unless he or she has provided prior written notice to the member, in such form as specified by the member.” A violation of FINRA Rule 3270 is also a violation of FINRA Rule 2010. FINRA Rule 3280, and its predecessor, NASD Rule 3040, requires that prior to participating in a private securities transaction, a person associated with a member firm shall provide written notice to his or her firm, “describing in detail the proposed transaction and the person’s proposed role therein and stating whether he has received or may receive selling compensation in connection with the transaction.”
Do You Need a California Private Placement Investment Attorney?
Are you an Aliso Viejo, California investor who has suffered significant losses in your stock brokerage and investment accounts? Did your California stockbroker or investment advisor misrepresent or mislead you about an investment in a Private Placement or make an unsuitable recommendation that you invest in a Private Placement like GPB Capital Holdings or EquiAlt or otherwise mismanage your investment account? If so, you will need to have representation by an experienced, highly rated and nationally recognized FINRA securities arbitration law attorney—an attorney who understands these highly complex and risky Private Placement investments. You need an experienced lawyer who knows FINRA rules and procedures inside and out and how to handle these FINRA arbitration cases and other complex legal issues.
Free Initial Consultation With Experienced Private Placement Investment Lawyers Serving Aliso Viejo, California Residents In FINRA Arbitration Proceedings
At The Law Offices of Robert Wayne Pearce, P.A. we represent investors in all kinds of securities, commodities, and investment law disputes in FINRA, AAA and JAMS arbitration and mediation proceedings. Attorney Pearce and his staff represent investors throughout California, and across the United States on a CONTINGENCY FEE basis which means you pay nothing – NO FEES-NO COSTS – unless we put money in your pocket after receiving a settlement or FINRA arbitration award.
Se habla español For dedicated representation by Attorney Pearce with over 40 years of experience and success in all kinds of securities, commodities, and investment law disputes serving California citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail.