Call Now For a Free Consultation:
(614) 532-4576
Nationwide Representation

Former Ohio Financial Advisor Sam Aziz Loses Securities License For Excessive Trading

The Ohio Division of Securities revoked the securities license of former broker Sam Aziz of Dublin, Ohio for excessive trading in at least 12 customer accounts.

According to his FINRA BrokerCheck report, Aziz was the subject of seven customer disputes, two terminations, and three regulatory actions before finally losing his license in 2020.

According to the Division, Aziz churned at least 12 customer accounts, generating commissions of more than $2.4 million for himself between 2015 and 2018.  The Hearing Officer assigned to the case further found that Aziz failed to disclose to his clients the opening of new accounts for them and the use of margin loans in customer accounts.  In 2019, FINRA also permanently barred Aziz from working in the securities industry for his failure to cooperate with its own investigation into excessive trading allegations.

Excessive trading, or churning, occurs when a broker engages in excessive buying and selling of securities in a customer’s account in order to generate commissions that benefit the broker. It is illegal, a violation of the securities industry’s rules, and the basis for a civil action.

Meyer Wilson has successfully represented several of Sam Aziz’s former customers.  If you were a client of Aziz and lost money, our investment fraud attorneys are interested in talking to you about your recovery options. Give us a call for a free consultation.

The information contained in The Firm’s posts on its blog, fraud alerts, investigations or elsewhere on the site is based upon information obtained from other sources including, but not limited to, news outlets and federal, state, and regulatory agency filings. All suspects and subjects of postings herein are presumed innocent until proven guilty in a court of law or administrative action and any and all crimes are alleged until a court or regulatory agency finds otherwise .

Share This Story
If you found the information provided by this article useful, consider sharing to your social media channels to help others in their search for reliable resources.
Consult with Our Legal Team
There is never a cost associated with a consultation
Atlanta Office

945 East Paces Ferry Road, Suite 2275
Atlanta, GA 30326
Columbus Office

614-224-6000
305 W. Nationwide Blvd
Columbus, OH 43215
Meyer Wilson
New Orleans Office

900 Camp Street 
Suite 337
New Orleans, LA 70130
Los Angeles Office

310-905-8688
2029 Century Park East,
Suite 400N
Los Angeles, CA 90067
Cleveland Office

216-600-1355
4781 Richmond Rd.
Suite 400
Warrensville Heights, OH 44128
Bloomfield Hills Office

248-817-8214
41000 Woodward Ave.,
Suite 350
Bloomfield Hills, MI 48304
Quick Links
The information contained in this Website is provided for informational purposes only, and should not be construed as legal advice on any subject matter. No recipients of content from this site, clients or otherwise, should act or refrain from acting on the basis of any content included in the site without seeking the appropriate legal or other professional advice on the particular facts and circumstances at issue from an attorney licensed in the recipient's state. Read More
The information contained in this Website is provided for informational purposes only, and should not be construed as legal advice on any subject matter.
Read More
chevron-down linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram