Securities Lawyers Blog
According to BrokerCheck records kept by The Financial Industry Regulatory Authority (FINRA) broker Gabriel Block (Block) has been subject to at least 12 customer complaints and five regulatory actions during his career. Block is currently barred from the industry but was formerly employed by First Standard Financial Company LLC (First Standard Financial) and National Securities Corporation (National Securities). The majority of the customer complaints against Block concern allegations of high frequency trading activity also referred to as churning.
In May 2019 the New Jersey Bureau of Securities revoked Block’s license in his home state of New Jersey finding that Block engaged in dishonest or unethical business practices in the securities business. The state went on to find that Block engaged in a device, scheme, or artifice to defraud.
In April 2019 a customer complained that Block violated the securities laws by alleging that the financial advisor engaged in unsuitable and excessive trading causing $2,000,000 in damages. The claim is currently pending.
In March 2019 a customer complained that Block violated the securities laws by alleging that the financial advisor engaged in unsuitable trading. The claim is currently pending.
In February 2019 a customer complained that Block violated the securities laws by alleging that the financial advisor engaged in unsuitable and unauthorized trading causing $668,000 in damages. The claim is currently pending.