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Broker Misconduct Investigation: Antoine Souma (Galliott Capital Advisors) 

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Updated on: June 9, 2025

National securities arbitration law firm KlaymanToskes is continuing its investigation of broker Antoine Nabih Souma (CRD# 4210987), who has been permanently barred from the securities industry by the Financial Industry Regulatory Authority (“FINRA”). Souma’s bar by FINRA follows allegations of misconduct, including private securities transactions, excessive trading, margin abuse, and  unauthorized trading. Antoine Souma has been involved in numerous complaints from investors and has 6 disclosures listed on his CRD report.

If you suffered investment losses with Antoine Souma at Galliott Capital Advisors, Insigneo Securities, or Morgan Stanley, contact KlaymanToskes at (888) 997-9956 or by email at investigations@klaymantoskes.com to discuss potential recovery options.

FINRA Bar and Regulatory Actions Against Antoine Souma

On February 21, 2023, FINRA issued a Letter of Acceptance, Waiver, and Consent (“AWC”), barring Antoine Souma from associating with any FINRA member in all capacities after he allegedly refused to cooperate with an investigation into his involvement in private securities transactions.

Timeline of Regulatory Actions Against Souma:

  • November 2021: FINRA fined Souma $20,000 and suspended him for two months for providing misleading account reports that understated commissions and omitted positions in customer accounts.
  • August 2022: A customer complaint alleged Souma engaged in unauthorized transactions and unsuitable investment recommendations, seeking $2 million in damages. The case was settled in favor of the investor for.
  • February 2023: FINRA permanently barred Souma after he failed to respond to inquiries related to private securities transactions and other violations.

Souma’s repeated violations of FINRA Rules 8210, 2010, and 1122 demonstrate a pattern of misconduct that resulted in significant investor losses. His refusal to provide requested information ultimately led to his permanent industry ban. 

Allegations Against Antoine Souma: Investor Losses & Complaints

Investors who worked with Souma have filed multiple complaints alleging serious financial misconduct, including:

  • Margin Abuse & Structured Note Losses: Inappropriate use of margin and failure to disclose the risks of structured notes, resulting in millions in investor losses.
  • Excessive Trading & Churning: Engaging in high-volume trading to generate excessive commissions.
  • Unauthorized Transactions: Executing trades without client approval.
  • Misrepresenting Investment Performance: Providing misleading account reports that overstated portfolio values and omitted key transactions.

Who is Antoine Nabih Souma?

  • Former Broker & Investment Advisor (CRD# 4210987)
  • Operated Galliott Capital Advisors (2021-Present)
  • Previously registered with Morgan Stanley (2016-2020), Insigneo Securities (2020-2022)
  • Ranked #76 on Barron’s 2016 Top 100 Financial Advisors List

According to FINRA BrokerCheck, Souma was previously registered with Insigneo Securities from July 2020 to July 2022 in Beverly Hills, CA and with Morgan Stanley from 2016 to 2020 in Los Angeles, CA. Souma accepted an industry bar in February 2023, which permanently barred him from acting as a broker or associating with a broker-dealer firm by the Financial Industry Regulatory Authority (“FINRA”).

Customers of Antoine Nabih Souma that suffered losses at Galliott Capital Advisors, Insigneo Securities, and/or Morgan Stanley, are encouraged to contact our firm immediately to discuss potential recovery options at (888) 997-9956 or by email at investigations@klaymantoskes.com.