Leslie Flaum faces two pending Financial Industry Regulatory Authority (FINRA) arbitrations filed by customers alleging that he failed to meet his supervisory obligations, resulting in the sale of unsuitable investments to customers.
According to FINRA, Flaum was registered with Oppenheimer & Company based in Melville, New York from 1994 to 2017.
According to his FINRA BrokerCheck report, the disputes allegations range in time from 2010 to 2016. One arbitration alleges that Flaum failed to supervise a broker who sold unsuitable investments and churned the customer’s account. The amount of claimed damages is over $1 million. The other arbitration, filed in In the March 2017, also alleges that Flaum failed to properly supervise the sale of closed-end funds. The damages alleged in that case are $2 million.
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