According to records with the Financial Industry Regulatory Authority (FINRA), Oppenheimer broker Leslie Flaum has allegedly violated securities laws. He was accused of making unsuitable investment recommendations, churning accounts, breaching fiduciary duty, failing in supervisory duties from December 2010 through December 2016 in connection to investments in listed equities and closed-end funds, and other violations. These are all against securities laws. Churning, also referred to as excessive trading, is a particularly egregious violation, because it typically results in unnecessary fees for the client. It also typically results in large commissions for the broker. Leslie Brian Flaum was previously registered with David Lerner, Christopher Weil & Company, Integrated Resources Equity Corp, HYM Financial, Reich & Company, and Oppenheimer & Co. in Melville, New York from August 1994 until August 2017. He has two customer disputes pending against him and is not currently registered as a broker within the industry, according to FINRA records.
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