Andrew Corbman has been the subject of at least two customer complaints over allegations of securities law violations that include unsuitable investment recommendations, overconcentration of investments and violations of industry rules among other claims. Some of the securities in question include leveraged and non-traditional exchange traded funds (ETFs). The Financial Industry Regulatory Authority (FINRA) also found that Corbman distributed a sales brochure for an alternative mutual fund to his customers that contained information that was misleading and failed to provide a sound basis for evaluating the alternative mutual fund. In February 2016, FINRA settled a regulatory action against Corbman alleging that he made recommendations that were unsuitable and over-concentrated and exposed customers to a risk loss that exceeded each customer’s risk tolerance and investment objectives. As a result, FINRA suspended Corbman for one month.
Corbman was registered with RAF Financial Corp, A.G. Edwards & Sons, Morgan Stanley, ING Financial Partners, FSC Securities, Kovack Securities and Newbridge Securities in Lansdowne, Virginia from November 2015 until March 2016. He has nine customer disputes against him, two of which are currently pending. He is not licensed within the industry and not registered with any firm.
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