Anthony Joseph Martinez Audit (2023) – A Scam or Legit Broker?

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Anthony Joseph Martinez  – and the firm that employs him or her – is regulated by the Financial Industry Regulatory Authority (FINRA).

If you are like most people, before you go out to dinner at a new restaurant, you probably take a quick look at the reviews. This makes sense; you are going to pay for an expensive dinner, and you need to be sure that you are getting a good value.

Yet, when choosing a financial advisor, many people fail to conduct this same level of due diligence. Before turning over access to your money, you need to be sure that you have found a financial advisor that you can trust. Here, our audit report, including details of allegations, complaints, and sanctions will help you decide whether or not to invest with Anthony Joseph Martinez.

The stock market is a device for transferring money from the impatient to the patient… Warren Buffet

BrokerComplaints.com is currently investigating allegations related to Anthony Joseph Martinez. We provide a free platform for investors to help them in their claims against negligent brokers and brokerage firms.

 

About Anthony Martinez

Anthony Joseph Martinez is an Investment Adviser. Anthony Joseph Martinez’s Central Registration Depository (CRD) number is 1568443 and the FINRA Profile can be found at – https://brokercheck.finra.org/individual/summary/1568443.

Click here to download a Detailed Audit Report for Anthony Joseph Martinez.

Anthony Joseph Martinez has previously been reprimanded and has disclosures and/or client dispute(s) listed at FINRA BrokerCheck.

 

Accusations and Disclosures

You can find below, a quick snapshot of Anthony Joseph Martinez’s regulatory actions, arbitrations, and complaints.

DISCLOSURE 1 – 

 

  • Event Date: 7/30/2004
  • Disclosure Type: Regulatory
  • Disclosure Resolution: Final
  • Disclosure Detail :: DocketNumberFDA: CAF040052
  • DocketNumberAAO: 040052
  • Initiated By: NASD (N/K/A FINRA)
  • Allegations: NASD CONDUCT RULES 2110, 2120, 2210, 2230, 2320 AND 2110 AND EXCHANGE ACT SECTION 10(B) AND RULE 10B-5 AND 10B-10(A)(2) -RESPONDENT MARTINEZ GENERATED INTRA-DAY PROFITS OF MORE THAN $694,000 IN HIS FIRM’S PROPRIETARY ACCOUNTS BY TRADING AHEAD OF A FIRM CUSTOMER WITHOUT DISCLOSING TO THE CUSTOMER THAT THE FIRM WAS REALIZING SUCH PROFITS ON HIS TRANSACTIONS IN ADDITION TO AGREED UPON COMMISSIONS, MARK-UPS, AND MARK-DOWNS; AFTER RECEIVING AN ORDER FROM A PUBLIC CUSTOMER OR LEARNING OF HIS INTENTION TO PLACE AN ORDER, HE USED THE INFORMATION THEREBY OBTAINED TO TAKE A POSITION IN A FIRM PROPRIETARY ACCOUNT IN THE SECURITY THE CUSTOMER WISHED TO BUY OR SELL, IF THE POSITION INCREASED IN VALUE IN THE COURSE OF THE DAY, HE EXECUTED THE CUSTOMER’S ORDER AS A PRINCIPAL TRANSACTION AT THE LATER PRICE; OTHERWISE, HE EXECUTED THE ORDER AT THE EARLIER PRICE AS A RISKLESS PRINCIPAL TRSANCTION. IN CARRYING OUT THE SCHEME, HE CREATED OR CAUSED HIS FIRM TO CREATE, FALSE RECORDS AND CUSTOMER FONFIRMATIONS, AND FAILED TO PROPERLY REPORT TRANSACTIONS.
  • Resolution: Decision
  • Sanction Details :: Sanctions: Bar
  • Sanction Details: NAC DECISION RENDERED MARCH 12, 2008. THE NAC FINDS THAT: MARTINEZ EMPLOYED A SCHEME TO DEFRAUD A PUBLIC CUSTOMER AND MADE MATERIAL OMISSIONS, IN VIOLATION OF SECTION 10(B) OF THE EXCHANGE ACT, RULE 10B-5, SECTION 17(A) OF THE SECURITIES ACT, AND NASD RULES 2120 AND 2110; MARTINEZ FAILED TO OBTAIN BEST EXECUTION FOR A CUSTOMER’S ORDERS, IN VIOLATION OF NASD RULES 2320 AND 2110; AND MARTINEZ CAUSED HIS MEMBER FIRM TO ISSUE FALSE CONFIRMATIONS, IN VIOLATION OF SECTION 10(B) OF THE EXCHANGE ACT, RULE 10B-10(A)(2), AND NASD RULES 2210, 3110, AND 2110. THE NAC BARRED MARTINEZ FROM ASSOCIATION WITH ANY FINRA MEMBER IN ANY CAPACITY. THE BAR IS EFFECTIVE IMMEDIATELY. THE NAC AFFIRMED THE HEARING PANEL’S ORDER THAT MARTINEZ PAY $3,780.54 IN COSTS AND IMPOSED APPEAL COSTS OF $1,236.42. THE DECISION IS FINAL APRIL 14, 2008. THE HEARING PANEL MADE NUMEROUS OTHER FINDINGS OF VIOLATIONS, INCLUDING THAT: MARTINEZ, IN NUMEROUS CROSS TRADES, FAILED TO DISCLOSE THE NAME OF THE PERSON FROM WHOM THE SECURITY WAS PURCHASED OR SOLD AND THE AMOUNT OF REMUNERATION THE BROKER-DEALER RECEIVED FROM THE OTHER PERSON, AS REQUIRED BY EXCHANGE ACT RULE 10B-10(A)(2) AND NASD RULES 2230(B), 2210(D), 3110, AND 2110; THAT MARTINEZ CAUSED THE FIRM TO INACCURATELY DISCLOSE IN CONFIRMATIONS ITS TRADING CAPACITY ON NINE TRADES, IN VIOLATION OF EXCHANGE ACT RULE 10B-10(A)(2), NASD RULES 2230, 2210(D), 3110, AND 2110; THAT MARTINEZ CAUSED THE FIRM TO FAIL TO MAKE AND KEEP ACCURATE RECORDS OF THE CUSTOMER’S ORDERS, IN VIOLATION OF SECTION 17(A) OF THE EXCHANGE ACT AND RULES 17A-3(A)(6), 17A-3(A)(7), AND 17A-4, AND NASD RULE 2110; AND THAT MARTINEZ MADE VARIOUS TRADE REPORTING VIOLATIONS, IN VIOLATION OF NASD RULES 4632, 6130, 6420 AND NASD RULE 2110. AFTER A THOROUGH REVIEW OF THE RECORD, THE NAC REVERSED ALL SUCH FINDINGS. IN THE INTEREST OF BREVITY, THE NAC EXERCISED DISCRETION NOT TO PRESENT THE EXTENSIVE AND DETAILED DISCUSSION THAT WOULD OTHERWISE BE REQUIRED TO EXPLAIN ITS RATIONALE.
  • Broker Comment: RESPONDENT VEHEMENTLY DENYING ALL ALLEGATIONS.
See also  Richard Charles Schulte Audit (2023) - A Scam or Legit Broker?

 

According to a study prepared for the FINRA Investor Education Foundation, 80 percent of American investors report that they have been solicited to participate in a fraud scheme, while 11 percent of American investors report that they personally lost money as a result of fraud.

FINRA notes that the rate of investment fraud is most likely much higher than it is reported. This is because many victims of financial advisor scams are too ashamed to come forward. Further, the study also found that a significant number of investors do not know how to spot common red flags of investment fraud. The least you should do is share your experience with other potential victims of investment scams.

 

Previous Associations

Under federal securities law and securities industry regulations, registered investment firms have a legal duty to supervise their financial advisors. Section 15(b)(4)(E) of the Securities and Exchange Act of 1934 makes a securities firm liable for the conduct of representatives.

See also  Michael Gerald Smith Audit (2023) - A Scam or Legit Broker?

 

  • BROKERAGEAMERICA, LLC (CRD#: 47966) :: 4/15/2002 – 1/3/2005 :: NEW YORK, NY
  • BROKERAGEAMERICA, INC (CRD#: 103942) :: 4/23/2001 – 4/15/2002 :: NE W YORK, NY
  • KIRLIN SECURITIES INC. (CRD#: 21210) :: 6/19/1995 – 4/23/2001 :: SYOSSET, NY
  • SHEARMAN, RALSTON INC. (CRD#: 7320) :: 3/5/1992 – 7/7/1995 :: GREENWICH, CT
  • EQUITABLE SECURITIES OF NEW YORK,INC. (CRD#: 14583) :: 9/24/1986 – 5/8/1987

 

The duty to supervise securities representatives is a strong legal requirement. Registered investment firms must take many different steps to ensure that they are protecting their customers from irresponsible and criminal financial advisors.

Anthony Joseph Martinez

 

Legit or Not?

Unfortunately, stockbroker fraud is more common than many investors would like to think. And yes, stockbrokers (including Anthony Joseph Martinez, but not limited to)  can (and do) steal money from their clients. While it’s rare that a broker will literally steal his client’s money (though that does happen), typically the “theft” of investment funds comes in the form of other fraudulent violations of securities law and FINRA rules which leads to significant investment losses.

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Sometimes investment losses occur because advisors, stockbrokers, and even brokerage firms, commit fraud. Massimo Vignelli

Investors generally understand that there are risks associated with buying and selling securities. The market can go up, and the market can go down. No matter how skilled of an investor you are, there are always risks. With that being said, sometimes investment losses cannot be blamed on simple back luck.

There are 10 major types of complaints we receive against Investment Brokers –

  • Outright Theft (Conversion of Funds)
  • Unauthorized Trading
  • Misrepresentation or Omission of Material Facts
  • Excessive Trading (Churning)
  • Lack of Diversification
  • Unsuitable Investment Recommendations
  • Failure to Disclose a Personal Conflict of Interest
  • Front Running of Transactions
  • Breakpoint Sale Violations
  • Negligent Portfolio Management

Do your due diligence before investing. Public records are available for everybody to review and decide on the safest bet. 

 

How to Protect Yourself

We, as citizens, place a great deal of trust in the financial advisors who are tasked with helping us achieve and maintain financial security. Most of the time financial advisors and stockbrokers are honest folks who work diligently in their client’s best interests. However, on occasion financial advisors and the brokerage firms who employ them mess up and cause serious financial harm to their clients. Sometimes these losses are caused by simple negligence. Other times fraud or other serious misconduct is to blame.

See also  Kevin Herbert Goldstein Audit (2023) - A Scam or Legit Broker?

 

Anthony Joseph Martinez

 

Here are 5 signs that your broker needs to be reported –

  • Breach of Fiduciary Duty: Under the Investment Advisers Act of 1940, certain investment professionals, known as registered investment advisors (RIAs), owe fiduciary obligations to their customers. Your investment broker must always look out for your best interests. If you lost money because of your broker’s breach of fiduciary duty, you may be entitled to compensation for the full value of your damages.
  • Unsuitable Investments: Many financial advisors are not fiduciaries. Instead, they are held to the suitability standard. These stockbrokers and financial advisors can only sell and recommend financial products that are appropriate for a customer’s unique investment profile. If you lost money in unsuitable investments, you should consider reporting them.
  • Material Misrepresentations or Omissions: Brokers have a duty to make fair and honest representations to their clients. If they fail to do so, and an investor loses money due to a misrepresentation or a material omission, the broker may be liable for the investor’s losses.
  • Lack of Diversification: Brokers must also act with the appropriate level of professional skill. Pushing a customer into over-concentrated investments is highly risky. Brokers can be held liable for losses sustained because of an investor’s inappropriate lack of diversification.
  • Excessive Trading (Churning): Stockbrokers and financial advisors must have a well-grounded, reasonable basis to execute all trades. Unfortunately, there are cases in which brokers will frequently trade on a customer’s account, simply to increase their own fees. This unlawful practice is known as churning.
  • Unauthorized Trading: Brokers must have the proper legal authority to make transactions on behalf of a client. If you lost money because your broker made trades that you never approved of, you may have been the victim of unauthorized trading. You should consult with an experienced attorney.
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Report Anthony Martinez

In order to prevail in an investment fraud lawsuit or FINRA arbitration cases, you must be able to assert a viable ‘cause of action’.

Anthony Joseph Martinez – and the firm that employs this broker – is regulated by the Financial Industry Regulatory Authority (FINRA). FINRA provides an online form to allow investors to file a formal complaint against their financial advisor, stockbroker, or brokerage firm.

Click here to go to FINRA’s Online Complaint Form →

This form will ask you for specific information related to your complaint. Be prepared by gathering the following:

  • Name and symbol for the investment product in question.
  • The CRD number (1568443) for the broker – Anthony Joseph Martinez
  • Your complete contact information.

Remember, it is advised to report your broker to FINRA, only after you have exhausted all of your other remedies and carefully prepared a compelling complaint.  Once you file a complaint against your broker at FINRA, your case will be bound by FINRA’s rules and the arbitration panel’s eventual decision. The time clock will start, and your complaint will be served on your broker or broker-dealer.

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