Roy Joseph Failla, Broker with Arive Capital Markets, Named in Customer Dispute Alleging Unsuitable Recommendations

Failla was suspended by the New Jersey Bureau of Securities earlier this year. 

Roy Joseph Failla (CRD#: 2786551) is registered as a broker with Arive Capital Markets, where he’s been employed since 2019. Previously, Failla was registered as a broker with First Standard Financial Company from 2014 until 2019. 

Failla has five disclosures on his BrokerCheck report. 

May 2021 Customer Dispute

• Status: Pending
• Allegations: Unsuitable transactions
• Damage Amount Requested: $147,000.00
• Broker Comment: Registered representative adamantly denies any and all allegations of wrongdoing as set forth in the Statement of Claim, and also, he was not meritoriously affiliated with the customer account. Accordingly, registered representative will seek expungement relief of this matter at the earliest opportunity.

October 2021 Regulatory Judgment

• Initiated By: New Jersey Bureau of Securities
• Allegations: Failla engaged in dishonest or unethical practices in securities business.
• Resolution: Consent 
• Sanctions: Civil and Administrative Penalty(ies)/Fine(s)
• Amount: $15,000.00
• Sanctions: Suspension
• Registration Capacities Affected: All Capacities
• Duration: 45 Days
• Start Date: 1/5/2021
• End Date: 2/19/2021
• Sanctions: Undertaking
• Sanctions: During the pendency of the suspension, Failla is denied all exemptions contained in N.J.S.A. 49:3-501 subsection (a), paragraph 9, 10, 11, and subsection (b). During the pendency of the suspension, Failla is denied all exemptions to the registration requirements provided by N.J.S.A. 49:3-56(b), N.J.S.A. 49:3-56(c), and N.J.S.A. 49:3-56(g).

May 2018 Customer Dispute

• Status: Settled
• Allegations: Client is alleging unauthorized trading and unsuitable investments.
• Damage Amount Requested: $1,500,000.00
• Settlement Amount: $200,000.00
• Broker Comment: Mr. Failla was dismissed with prejudice.

May 2010 Customer Dispute

• Status: Settled
• Allegations: Churning, unsuitable trades and misrepresentation.
• Damage Amount Requested: $417,000.00
• Settlement Amount: $40,000.00

February 2010 Customer Dispute

• Status: Settled
• Allegations: Excessive and unauthorized trading, fraud, breach of fiduciary duty, misrepresentation and unsuitability.
• Damage Amount Requested: $299,817.84
• Settlement Amount: $75,000.00

Contact Us Today

The Sonn Law Group is currently investigating allegations surrounding Roy Joseph Failla. We represent investors in claims against negligent brokers and brokerage firms. If you or your loved one experienced investment losses, we are here to help. For a free consultation, please call us now at 866-827-3202 or complete our contact form.