Finra, looking into fraud, bars former Securities America rep
Michael Bastardi decided not to provide regulator with requested information.
The Financial Industry Regulatory Authority Inc. has barred former Securities America rep Michael Bastardi for failing to provide it with information in connection with an inquiry into his conduct.
Mr. Bastardi, who was registered through Securities America from June 2014 to March 2016, was subsequently registered with National Securities Corp. for a year and then Chelsea Financial Services for a year.
(More: Finra bars former LPL rep over no-show at hearing)
In September, 2018, Securities America amended a Form U5 filing in which it disclosed that Mr. Bastardi was the subject of a customer complaint alleging that he had “engaged in unsuitable margin trading, unauthorized trading, fraud and forgery” between 2012 and 2014 when he was registered through Dalton Strategic Investment Services, and at Securities America, resulting in damages of approximately $250,000.
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