Andrew Corbman (CRD#: 2513558) is a former registered broker and registered investment advisor (RIA). From 2015 to 2016, Mr. Corbman was employed at Newbridge Securities Corporation based at a branch office in Lansdowne, Virginia. This broker was also recently associated with Kovack Securities (2011 to 2015).
In December of 2016, Mr. Corbman was barred from the securities industry by FINRA (NO. 2016051009001). In the last three years, this broker has settled at least eight different customer disputes. Here, our securities fraud lawyers review the FINRA disciplinary action taken against Andrew Corbman.
Barred Broker: Andrew Corbman
FINRA barred Andrew Corbman from the industry after he failed to cooperate with an investigation into potential wrongdoing. Under FINRA Rule 8210, registered representatives must comply with investigations. According to publicly available records, Mr. Corbman has been accused of improperly offering high-risk penny stocks to clients. Since 2016, six investor complaints have been settled by this broker. These complaints include:
- Unauthorized trading and unsuitable investments: Settled for $400,000
- Lack of diversification of investment holdings: Settled for $15,000
- Unsuitable investments and overconcentration of assets: Settled for $45,000
- Financial advisor negligence: Settled for $40,000
- Breach of fiduciary duty and overconcentration of investments: Settled for $125,000
- Unsuitable investments and negligent supervision: Settled for $28,000
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