Raymond Menna – Financial Advisor Raymond Menna Suspended from Securities Industry

Raymond Menna – Financial Advisor Raymond Menna Suspended from Securities Industry​ | Goodman & Nekvasil P.A., May Recover Investor Losses

Raymond Menna aka Ray Menna CRD #1918097

Raymond Menna has been licensed with Planmember Securities Corporation since 2010. FINRA reports that Raymond Menna was suspended from the securities industry for 45 days and fined $5,000 in September 2018.  

ACCORDING TO FINRA: Raymond Menna consented to the sanctions and to the entry of findings that he improperly shared in the losses of a customer. The findings stated that the value of the account of one of Raymond Menna’s customers declined to zero as a result of customer withdrawals and trading losses. Raymond Menna informed his customer that he would give the customer money on a monthly basis because the customer’s account had declined in value to zero. Raymond Menna made monthly cash payments to the customer. In total, Raymond Menna paid the customer approximately $15,000. Raymond Menna did not obtain prior written authorization from his member firm or the customer to make such payments, nor had Raymond Menna or the firm financially contributed to the customer’s brokerage account. The findings also stated that Raymond Menna provided misleading or inaccurate answers to his firm on compliance questionnaires. Raymond Menna electronically completed his firm’s annual compliance questionnaires, and, on each questionnaire, he inaccurately answered that he had not shared in any profits or losses in a customer’s account.

According to Raymond Menna’s CRD, an arbitration claim was filed alleging that Raymond Menna engaged in practices including unauthorized trading, unsuitable investing, misrepresentation and material omissions. According to Raymond Menna’s CRD, this arbitration claim was settled for $260,000.

If you lost money on investments with Raymond Menna and believe the investments may have been unsuitable or otherwise improper for you, we would like to discuss the possibility of your retaining our firm to represent you in an arbitration action concerning Raymond Menna’s conduct. There is no charge for an evaluation of your case. Further, we handle our cases on a contingency fee basis. This means that unless we recover money for you, we charge no attorney’s fee. Unless you recover any money, you pay us nothing, not even the costs and expenses which the firm will advance on your behalf.

Kalju Nekvasil, Esq., formerly regional counsel with the NASD, now known as FINRA, has practiced in this area of the law for more than 35 years. Goodman & Nekvasil, P.A. has recovered more than $180 million on behalf of victimized investors. If you lost money on investments with Raymond Menna and would like your case evaluated by a securities attorney (again, there is no charge for an evaluation and all cases are handled on a purely contingency fee basis), please contact us.

Ray Menna, Investment Fraud Attorney, Stockbroker Misconduct Disciplinary Actions, Unsuitable Investment Advice, Investment Fraud, Churning, Misrepresentation and Omission of Material Facts, Elder Fraud, Unauthorized Trading, Theft, Selling Away, Unapproved Outside Business, Nationwide, PIABA, SEC, Securities Exchange Commission, NASD, National Association of Securities Dealers, NASDAQ, Dow Jones, Wall Street, New York Stock Exchange, Ray Menna

Contact Us Today!

1 Step 1
FormCraft - WordPress form builder