National investment loss lawyers KlaymanToskes is investigating broker Nicholas Caruso (CRD# 7301382) of Alexander Capital, L.P. and Monmouth Capital Management LLC, who has been suspended from acting as a broker by the Financial Industry Regulatory Authority (“FINRA”), following allegations that he willfully violated the Best Interest Obligation under Rule 15l-1 of the Securities Exchange Act of 1934, by recommending a series of transactions in two elderly retail customers’ accounts that was excessive in light of their investment profiles.
The SEC’s Regulation Best Interest, or “Reg BI”, under the Securities Exchange Act of 1934, establishes a “best interest” standard of conduct for brokers and brokerage firms making recommendations of securities investments and investment strategies to their customers. Brokers, financial advisors, and their brokerage/investment advisory firms have a responsibility to make recommendations with their customer’s best interest in mind, and based upon the client’s personal needs and preferences.
According to FINRA BrokerCheck, broker Nicholas Caruso was previously registered with Monmouth Capital Management from 2022 to 2023, and with Alexander Capital from June to August 2023 in Red Bank, NJ.
Investors that suffered losses with broker Nicholas Caruso are encouraged to contact attorney Lawrence L. Klayman, Esq., at 888-997-9956 or by email at lawrence@klaymantoskes.com to discuss recovery options. We do not collect attorney’s fees unless we are able to obtain a financial recovery for you.
KlaymanToskes is a leading national investment loss law firm that represents the interests of investors throughout the world who have suffered losses due to broker misconduct, investment fraud, and securities violations.
The articles linked below contain important information relating to KlaymanToskes’ investigation of broker Nicholas Caruso:
If you suffered losses with broker Nicholas Caruso, contact KlaymanToskes at 888-997-9956 or fill out a short contact form for a free and confidential consultation.
The firm has helped recover over $600 million* for investors, and can help you determine if your loss is due to financial advisor misconduct, unsuitable investment advice, and/or other securities violations.
*Exclusive of attorneys fees and costs.
As an investor, there are a few signs that you should look out for if you believe you may have a claim against broker Nicholas Caruso. These signs could potentially indicate broker misconduct, negligence, or investment fraud. Investors are encourage to contact our firm immediately if you have experienced any of the following:
Some investors have close relationships with their brokers due to the time and trust built over the course of their investment relationship. However, it is crucial to remember that financial decisions should be based on careful analysis and due diligence rather than solely relying on personal relationships.
According to FINRA, brokerage firms such as Alexander Capital and Monmouth Capital Management are responsible for the supervision of all of the activities of their registered brokers and investment advisors. Investors may be entitled to a financial recovery if their brokerage firm failed to supervise the representative managing their brokerage account, and/or if their broker/advisor made unsuitable investment recommendations.
Engaging the services of an experienced securities attorney to evaluate the specific circumstances of your case is strongly advised. At KlaymanToskes, our team of experienced securities attorneys has a deep understanding of this complex area of law, allowing us to provide invaluable insight and tailored guidance that directly addresses your individual needs.
If you suffered losses with broker Nicholas Caruso, or have concerns regarding your investment portfolio at Alexander Capital and/or Monmouth Capital Management, contact KlaymanToskes at 888-997-9956 or fill out a short contact form for a free and confidential consultation to discuss recovery options.