Updated on: September 3, 2025
National investment loss lawyers KlaymanToskes is investigating broker Simon Michael Joseph a/k/a Simon Michael Youssef (CRD#: 5602157).
According to FINRA BrokerCheck, on August 8, 2025, broker Simon Michael Joseph consented to sanctions of a 6 month suspension and $5,000 fine after failing to disclose a Consent Order from the Securities Commissioner of Maryland on his Form U4. The Consent Order found that Joseph had “engaged in dishonest and unethical practices by, among other things, effecting discretionary transactions in customer accounts without written authorization and mismarking order tickets”.
Investors that suffered losses with broker Simon Michael Joseph are encouraged to contact attorney Lawrence L. Klayman, Esq., at 888-997-9956 or by email at investigations@klaymantoskes.com to discuss potential recovery options. We do not collect attorney’s fees unless we are able to obtain a financial recovery for you.
Simon Michael Joseph’s History of Disclosures
The August 2025 suspension marks Simon Michael Joseph’s latest regulatory disclosure. According to publicly available information through FINRA BrokerCheck, Joseph has been the subject of multiple customer disputes and regulatory issues over the years, including:
Regulatory Events (3)
- October 10, 2019
FINRA accepted an Acceptance, Waiver & Consent (“AWC”) in which Joseph consented (without admitting or denying) that he executed discretionary transactions in customer accounts without written authorization and mismarked orders as “unsolicited”, causing inaccurate firm records. He accepted a 30-business-day suspension (November 4–December 16, 2019) and a $10,000 fine.
- October 10, 2019
The Maryland Securities Division issued a Consent Order concluding that Joseph engaged in “dishonest and unethical practices” by entering discretionary trades without prior written client consent or without approval from his firm and mismarking order tickets. The order imposed a 42-day suspension, a cease-and-desist, and a three-year ban on managing discretionary accounts or serving supervisory roles for Maryland clients, with limited exceptions.
- August 8, 2025
FINRA accepted another AWC, finding that Joseph “willfully failed to disclose” the Maryland Consent Order on multiple Forms U4 across several firms (BB&T Securities, Truist Investment Services, Momentum Independent Network, and LPL Financial). He received a six-month suspension (August 18, 2025 – February 17, 2026) and a $5,000 fine.
Customer Disputes (2)
- September 8, 2016
A client of Morgan Stanley filed a FINRA arbitration claim alleging unauthorized trades in their account from February 2015 to July 2016. The dispute settled for $70,000, according to FINRA’s public records.
- May 11, 2023
A complaint filed by a Truist Investment Services customer alleged over $250,000 in losses due to unauthorized trades, unsuitable recommendations, misrepresentation, failure to supervise, breach of fiduciary duty, and violations of Virginia securities law—connected to accounts held by the customers at Joseph’s previous firm. The claim settled for $90,000, according to FINRA’s public records.
Employment Terminations (2)
- March 1, 2022
Reported as a voluntary resignation from Truist Investment Services, Inc. The broker allegedly misrepresented the details related to “his usage of loan proceeds from his personal securities-backed line of credit as well as details related to compensation for an outside business activity which was approved under the condition he would not be compensated.”
- August 2, 2016
Simon Michael Joseph was discharged from Morgan Stanley Wealth Management due to allegations involving discretionary account activity and inaccurate marking of certain trades as unsolicited.
Simon Michael Joseph’s Employment History
During his time as a broker, Simon Michael Joseph has been registered with the following brokerage firms:
- 05/07/2024 – 08/08/2024 LPL Financial LLC in Alexandria, VA
- 03/01/2022 – 05/09/2024 Momentum Independent Network, Inc. in Dallas, TX
- 02/17/2021 – 03/31/2022 Truist Investment Services, Inc. in Alexandria, VA
- 08/24/2016 – 02/17/2021 BB&T Securities LLC in Richmond, VA
- 8/19/2009 – 08/05/2016 Morgan Stanley in Alexandria, VA
- 5/20/2009 – 07/09/2009 AXA Advisors LLC in Lansdowne, VA
- 12/04/2008 – 06/16/2009 ING Financial Partners, Inc. in Lansdowne, VA
Signs Investors Should Look Out For About Their Brokerage Accounts
As an investor, there are a few signs that you should look out for if you believe you may have a claim against your financial advisor. These signs could potentially indicate misconduct, negligence, or investment fraud. Investors are encouraged to contact our firm immediately if you have experienced any of the following:
- You have substantial losses in your investment accounts
- You received a call, email, or other communication from your broker’s supervisor or manager regarding your portfolio
- Your broker misrepresented investment opportunities, or failed to disclose details about investments
- You notice unauthorized transactions in your investment accounts
- Your broker is not returning your calls or emails
- You filed a complaint with your brokerage firm that has not been resolved
- You see a mistake on your statement, or receive a fraudulent statement
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.
Engaging the services of an experienced securities attorney to evaluate your specific circumstances 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 Simon Michael Joseph, or have concerns regarding your investment portfolio at any of the firms listed above, or with any other financial advisor or firm, contact KlaymanToskes at 888-997-9956 or fill out a short contact form for a free and confidential consultation.
