Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) indicate that broker/adviser, Marshall Owen Isaacson (CRD # 1140370) was recently barred from the securities industry by FINRA’s Department of Enforcement. The sanction occurred as a result of an investigation into unsuitable investment recommendations while he was associated with Newbridge Securities Corporation (CRD # 104065). The Law Office of Kevin J. Deloatch, Esq. is interested in speaking to investors who have complaints regarding Mr. Isaacson.
Registration Background for Marshall Owen Isaacson
Mr. Isaacson first became registered in the securities industry in 1983 and was most recently registered with Boca Raton, FL based Newbridge Securities Corporation from June 2016 to May 2019. His prior registrations include National Securities Corporation (CRD# 7569) from August 2007 to July 2016 and Ladenburg Thalmann & Co. Inc. (CRD# 505) from March 2016 to August 2017.
FINRA’s Allegations against Marshall Owen Isaacson
FINRA’s investigation led to Mr. Isaacson entering into a Letter of Acceptance, Waiver and Consent (AWC) with FINRA on July 20, 2020. According to the AWC, Mr. Isaacson consented to, without either admitting to or denying, the following findings by FINRA’s Department of Enforcement:
- “In connection with FINRA’s investigation into whether [Mr.] Isaacson made unsuitable investment recommendations, FINRA staff issued [Mr.] Isaacson a request for documents and information pursuant to FINRA Rule 8210”;
- “[Mr.] Isaacson refused to provide the documents and information requested”;
- “Although [Mr.] Isaacson initially cooperated with FINRA’s investigation, he ceased doing so in July 2020”;
- “Specifically, on July 8, 2020, FINRA staff sent [Mr.] Isaacson a request for documents and information pursuant to FINRA Rule 8210″;
- “As stated during [Mr.] Isaacson’s phone call with FINRA staff on July 9, 2020, and by this agreement, [Mr.] Isaacson acknowledges that he received FINRA’s request and will not produce the documents and information requested at any time”; and
- By virtue of the above, Mr. Isaacson violated FINRA Rule 8210 and FINRA Rule 2010.
FINRA Sanctions Marshall Owen Isaacson
As a result of such violations and in addition to the above described findings and conclusions, FINRA’s July 20, 2020 AWC also indicates that Mr. Isaacson consented to the following sanction:
- A bar from associating with any FINRA member in any capacity.
Marshall Owen Isaacson has a History of Complaints
In addition to the findings of FINRA’s Department of Enforcement, FINRA BrokerCheck for Mr. Isaacson (pages 14 – 22) reveals he has a history of customer complaint(s)/arbitration(s) including, but not necessarily limited to the following:
- On April 18, 2019 a customer initiated an arbitration naming Mr. Isaacson as a Respondent for acts that allegedly occurred while he was associated with Newbridge Securities Corporation. The customer alleged negligence, breach of fiduciary duty, breach of contract and misrepresentation in connection with a 1031 exchange, resulting in damages in the amount of $60,000.00. The arbitration was settled on June 9, 2020 in the amount of $14,999.00.
- On May 3, 2019 a customer initiated an arbitration naming Mr. Isaacson as a Respondent for acts that allegedly occurred while he was associated with Newbridge Securities Corporation and National Securities Corporation. The customer alleged unsuitable investments, breach of fiduciary duty and breach of contract in connection with a variable annuity. The customer did not specify damages. However, the arbitration was settled on June 2, 2020 in the amount of $11,125.00.
- On September 1, 2016 a customer initiated an arbitration naming Mr. Isaacson as a Respondent for acts that allegedly occurred while he was associated with National Securities Corporation. The customer alleged unsuitability that resulted in damages in the amount of $150,000.00. The arbitration was settled on August 14, 2017 in the amount of $92,000.00.
- On March 2, 2016 a customer initiated an arbitration naming Mr. Isaacson as a Respondent for acts that allegedly occurred while he was associated with National Securities Corporation. The customer alleged unauthorized trading and unsuitability that resulted in damages in the amount of $300,000.00. The arbitration was settled on October 5, 2017 in the amount of $215,000.00.
If you or someone you know has or had a brokerage account with Mr. Marshall Owen Isaacson 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.
