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Investors Seek Six-Figure Damages in Disputes with John Girgis

May 5, 2023 Excessive Trading

John Girgis (CRD #: 5021526), a broker formerly registered with SW Financial, is involved in three pending disputes, according to his BrokerCheck record, accessed on April 27, 2023. Read on if you have questions about his alleged conduct as a broker.

Investor Dispute

A pending dispute filed on March 3, 2023, named John Girgis in allegations of excessive and unauthorized trading, negligence, excessive commissions, and violation of the suitability rule. This dispute seeks $264,475 in damages.

On March 21, 2022, an investor filed a similar dispute alleging John Girgis engaged in fraud, churning, unauthorized trading, and suitability violations. The client further alleges negligence and breach of contract. They seek $210,180.83 in this pending dispute.

On December 24, 2020, an investor alleged that John Girgis engaged in churning and other suitability violations, breached his contract, and made negligent misrepresentations and omissions.

This misconduct allegedly took place between December 2017 and May 2018. This client seeks $411,740 in damages in this pending dispute.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to take investors’ profiles into account when recommending investments. Brokers must examine the information contained in an investor’s profile, such as their tax status, age, and risk tolerance.

Investors who rely on brokers for recommendations may be able to recover their losses by seeking out FINRA arbitration.

FINRA Rule 3260

FINRA Rule 3260 requires brokers to receive written authorization from their clients before engaging in discretionary trading. The firm must also approve the designation of an account as discretionary before this trading can occur.

FINRA Rule 2010

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade.

FINRA Rule 2020

FINRA Rule 2020 forbids the use of manipulation, deception, and other fraudulent means of influencing investors’ decisions. This includes the misrepresentation or omission of information, such as an investment’s potential returns, fees, or risks.

What is broker negligence?

Brokers may act in many negligent ways, including misrepresenting material facts,  recommending unsuitable investments, or executing unauthorized trades.

Investors who have lost money through broker negligence may be able to recover their funds by pursuing FINRA arbitration.

Background Information

John Girgis has passed the following exams:

  • Series 65 – Uniform Investment Adviser Law Examination
  • Series 63 – Uniform Securities Agent State Law Examination
  • Series 79TO – Investment Banking Registered Representative Examination
  • SIE – Securities Industry Essentials Examination
  • Series 7 – General Securities Representative Examination

He previously worked for the following firms:

  • SW Financial (CRD#:145012)
  • Worden Capital Management (CRD#:148366)
  • Legend Securities (CRD#:44952)
  • Joseph Gunnar & Company (CRD#:24795)
  • Brookstone Securities (CRD#:13366)
  • J.P. Turner & Company (CRD#:43177)
  • GunnAllen Financial (CRD#:17609)

Kurta Law Can Help

If you worked with John Girgis and you have concerns about your investments, please contact us today at 877-600-0098 or for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.