Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) indicate that broker, Corey Alexander Johnson (CRD # 5752206) was recently suspended from the securities industry by FINRA’s Department of Enforcement for using unauthorized discretion in customer accounts.
The Law Office of Kevin J. Deloatch, Esq. is interested in speaking to investors who have complaints regarding Mr. Johnson.
Registration Background for Corey Johnson
Mr. Johnson first became registered in the securities industry in 2010. He is currently registered with Melville, NY based Aegis Capital Corp. (CRD # 15007). His prior registrations include Global Arena Capital Corp (CRD # 16871) from November 2010 to June 2011 and Prestige Financial Center, Inc. (CRD # 30407) from April 2010 to November 2010.
FINRA’s Allegations Against Corey Johnson
According to FINRA Letter of Acceptance, Waiver and Consent (AWC) dated March 23, 2021, Mr. Johnson consented to, without either admitting to or denying, the following findings by FINRA’s Department of Enforcement:
- “From April 2017 through April 2019, [Mr.] Johnson exercised discretionary trading authority to effect 1,358 transactions in five customers’ accounts”;
- “None of the five customers provided written authorization for [Mr.] Johnson to exercise discretion in their accounts and Aegis did not accept any of the five accounts as discretionary accounts”; and
- By virtue of his actions, Mr. Johnson violated NASD Rule 2510(b), regarding discretionary accounts and FINRA Rule 2010, regarding standards of commercial honor and principles of trade.
FINRA Sanctions Corey Johnson
As a result of such violations and in addition to the above described findings and conclusions, FINRA’s March 23, 2021 AWC also indicates that Mr. Johnson consented to the following sanction(s):
- A 30-calendar day suspension from association with any FINRA member in all capacities; and
- A fine in the amount of $5,000.00.
Corey Johnson Has No History of Customer Complaints
In addition Corey Johnson being suspended for using unauthorized discretion, FINRA BrokerCheck for Mr. Johnson reveals that he has no history of customer complaints and/or customer initiated arbitrations.
If you or someone you know has or had a brokerage account with Corey Alexander Johnson and have concerns regarding losses in your investments or possible sales practice violations including fraud, you may be entitled to recover lost funds. The Law Office of Kevin J. Deloatch, Esq. has an extensive securities law practice and over 30 years of experience on Wall Street. Call today at (646) 792-2156 for a free consultation. The time to file your claim may be limited so you should call today to avoid delay.