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Adam Newon (National Securities Broker) Faces Complaint

Adam NewonThe securities and investment fraud law firm Fitapelli Kurta is investigating allegations of misconduct against New York-based National Securities Corporation broker Adam Newon (CRD# 5705166).

Adam Newon has spent three years in the securities industry and has been registered with National Securities in New York, New York since January 2015. He was previously registered with Global Arena Capital Corporation in New York, New York (2013-2014) and HFP Capital Markets in New York, New York (2012-2013). Both of his former employers have since been expelled by the Financial Industry Regulatory Authority (FINRA).

According to his BrokerCheck report, Adam Newon is the subject of two pending customer complaints.

In August 2015 a customer alleged Adam Newon, while employed at Global Arena Capital, misrepresented material facts related to an investment, recommended an unsuitable investment, and breached his fiduciary duty. The customer is seeking damages exceeding $31,800 in the pending complaint.

In 2014 a customer alleged Adam Newon, while employed at Global Arena Capital, misrepresented material facts related to an investment. The customer is seeking unspecified damages in the pending complaint.

According to FINRA rules as well as federal securities law, financial advisers like Adam Newon are beholden to a fiduciary duty that requires them to act only in their clients’ best interests. This means, for instance, that they can only recommend suitable investments that take into account such factors as the client’s investment experience, goals, income, net worth, and risk tolerance. Brokers and advisers are forbidden from misrepresenting or omitting material facts related to an investment, as this might cause a customer to invest unsuitably. Brokerage firms like Global Arena Capital have a duty to supervise their representatives and ensure compliance with these regulations. Brokers and firms who fail to recommend suitable investments may be subject to disciplinary action by FINRA or the Securities and Exchange Commission.

If you have lost money investing with Adam Newon, you may be entitled to recover lost funds. Call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. All cases are taken on contingency: Fitapelli Kurta only gets paid if and when you recover money. Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.