INVESTORS: Former Aegis Capital broker Joseph Francis Valdini was named in a customer dispute alleging churning, unsuitable trade recommendations, breach of fiduciary duty, and negligent misrepresentations.
Joseph Francis Valdini (CRD#:5517610) was registered as a broker with Aegis Capital from 2016 until 2017. Previously, Valdini was registered as a broker with Worden Capital Management from 2014 until 2016.
Valdini has six disclosures on his BrokerCheck report.
August 2021 Customer Dispute
Allegations: Churning and violations of SEC Rule 10b-5; qualitative and quantitative unsuitablity; breach of fiduciary contract; negligent misrepresentations and omissions; and violations of FINRA Rule 2010. Alleged activity occurred between September 2015 and September 2019.
Damage Amount Requested: $1,277,631.00
February 2020 Customer Dispute
Allegations: Churning/excessive trading; common law fraud; NY Consumer Protection Act violations; breach of fiduciary duty; breach of contract; negligence,negligent misrepresentation and omissions; and negligent supervision. Dates of activity are March 2015 through September 2015.
Damage Amount Requested: $1,000,000.00
September 2017 Regulatory Judgment
Initiated By: FINRA
Allegations: Respondent Valdini failed to respond to FINRA request for information.
Sanctions: Bar (Permanent)
Registration Capacities Affected: All Capacities
Start Date: 12/18/2017
Regulator Statement: Pursuant to FINRA Rule 9552(h) and in accordance with FINRA’s Notice of Suspension and Suspension from Association letters dated September 14, 2017 and October 10, 2017, respectively, on December 18, 2017, Valdini is barred from association with any FINRA member in any capacity. Respondent failed to request termination of his suspension within three months of the date of the Notice of Suspension; therefore, he is automatically barred from association with any FINRA member in any capacity.
January 2016 Customer Dispute
Allegations: Negligence, Violations of the New Jersey Uniform Securities Law, Breach of Fiduciary Duty, Breach of Contract, Respondeat Superior
Damage Amount Requested: $125,000.00
Settlement Amount: $79,000.00
January 2016 Employment Separation After Allegations
Firm Name: Worden Capital Management, LLC
Termination Type: Voluntary Resignation
Allegations: Unauthorized trade(s)
January 2016 Customer Dispute
Allegations: Unauthorized trade placed on 12/31/2015, with subsequent margin call sellouts, resulting in a loss of over $28,000 to the client.
Damage Amount Requested: $28,125.00
Settlement Amount: $28,125.00
Broker Comment: I firmly deny any and all allegations that were made against me. The client made certain statements that were absolutely incorrect.
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