SoCal Broker Angelo Talebi Fined & Suspended for Improper Trading in Customer's Account

Attorney Advising Disclaimer

FINRA suspended Los Angeles-area broker Angelo Talebi and fined him $10,000 for allegedly executing transactions in a customer's online account without advising his primary firm nor notifying this second firm of his association with his primary firm.

FINRA AWC #2014042834201

According to his BrokerCheck report, this is Talebi's 27th total disclosure and 24th since 2011, when a series of customer complaints filed against Talebi alleging misconduct ranging from misrepresentation, unsuitability, excessive trading and use of margin, and negligence produced a series of settlements in which Talebi paid out over $580,000 in total damages, with a series of customer disputes still pending, totaling almost $1 million in additional alleged damages.

During this series of complaints, Talebi was associated with LPL Financial (through March 2012) and Royal Alliance Associates, Inc. (through April 2014), both of Beverly Hills, California. BrokerCheck indicates Talebi is presently associated with Independent Financial Group, LLC, of Sherman Oaks, CA.

The findings state that while Talebi was associated with Royal, one of his customers moved accounts from Royal to another firm that provided online trading, whereupon Talebi executed transactions in this new online trading account using his customer's login username and password.

The report additionally states that although FINRA rules require brokers to inform their firms of associations with third party firms, Talebi did not inform Royal of this discretionary trading activity nor did he notify the second firm of his association with Royal.

If you have invested with Angelo Talebi or with any broker or financial adviser whose misconduct—such as logging into your account or employing discretionary trading without first securing appropriate permission or making proper notifications—has proven harmful to your investments or interests, please call The Law Offices of Jonathan W. Evans & Associates at (800) 699-1881 for an investigation and consultation.

Related Posts
  • Stifel Financial Agrees to Pay for Failing to Supervise Brokers Who Allegedly Stole Client Funds, Made Unsuitable Trades Read More
  • Osaic aka SagePoint Financial's David Tall Barred for Unauthorized Promissory Notes Read More
  • Anaheim's Centaurus Financial Tops SLCG List of Riskiest Brokerage Firms for 2024 Read More