Former National Securities Corporation broker Mark Gassoso (CRD# 2590007) is accused of private placement losses. He has been registered with Arete Wealth Management, LLC in Jersey City, New Jersey, since 2024. He was registered with B. Riley Wealth Management in Jersey City, New Jersey, from 20222 to 2024, and National Securities Corporation in Jersey City, New Jersey, from 2000 to 2022.
In June 1999, NASD ordered him to pay a $5,000 civil and administrative fine and suspended him from association with any NASD member in any capacity for 10 days, after it found that he “violated the terms of its restrictive agreement, by: engaging in “penny stock” transactions, conducting business in a manner that required it to maintain net capital of not less than $100,000, participating in “firm-commitment” underwritings and effecting more than 10 principal trades, despite language to the contrary in the agreement.”
Mark Gassoso Customer Complaints
He has been the subject of one customer complaint, according to his CRD report:
July 2024. “Claimant alleges RR made unsuitable recommendations and mismanaged Claimant’s assets.” The customer is seeking $500,000 in damages, and the case is currently pending. The complaint was regarding private placements, and it took place while he was registered with National Securities Corporation.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, National Securities Corporation may be liable for investment or other losses suffered by Mark Gassoso’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.
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