Publicly available records published by the Financial Industry Regulatory Authority (FINRA) on February 24, 2017 indicate New York-based National Securities and Adirondack Trading Group broker Leigh Garber has been sanctioned by FINRA. Fitapelli Kurta is interested in hearing from investors who have complaints regarding Ms. Garber (CRD# 2768572).
Leigh Garber has spent eighteen years in the securities industry and has been registered with National Securities in New Woodstock, New York since 2015. Previous registrations include Adirondack Trading Group in New Woodstock, New York; Clayton Lowell & Conger in New Woodstock, New York; Newbridge Securities Corporation in New Woodstock, New York; and IBN Financial Services in Liverpool, New York. She is a registered broker in New York.
According to her BrokerCheck report, Leigh Garber has received two FINRA sanctions and one NASD sanction.
In October 2016 FINRA sanctioned Leigh Garber following allegations that “on numerous, she allowed her member firm to conduct a securities business while not maintaining sufficient net capital” while she was serving as the firm’s president and CEO. According to FINRA’s findings: “Garber was responsible for the firm’s net capital compliance. On several occasions, these net capital deficiencies resulted from the firm’s failure to reflect all of its accrued expenses, either by not accruing an expense when it was incurred, as required under generally accepted accounting principles, or by removing liabilities from its book and records before they were paid. Also, on several occasions, the firm failed to record certain operating expenses at all, including payments to numerous vendors.” She was issued a three-month suspension from participating in principal and supervisory activities.
In January 2016 FINRA sanctioned Leigh Garber following allegations that “her firm and two of its representatives sold an unregistered security, and Garber, its designated supervisor, failed to supervise the activities that consisted of interest-only strips from loans issued by the United States Small Business Association (SBA) meant only for Qualified Institutional Buyers (QIBs) to individual retail investors at undisclosed markups of 14-33 percent using general solicitation emails that fraudulently misrepresented the product and the respondents’ role in its development.” She was issued a one-year suspension and a fine of $15,000.
In 2005 the National Association of Securities Dealers sanctioned her following allegations that acting on behalf of her member firm, she allowed an individual to maintain his securities license with the firm even though he was not actively involved in its securities or investment banking business. She was issued a fine of $5,000.
If you or someone you know has lost money investing with Leigh Garber, call Fitapelli Kurta at 877-238-4175 for a free consultation. You may be eligible to recoup your losses. Fitapelli Kurta accepts all cases on a contingency basis: we only get paid if and when you collect money. Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.