Leonard Fox; FSC Securities; Marlton, New Jersey; Barred From Industry

Stoltmann Law Offices is investigating Leonard Fox, a former broker with FSC Securities in Marlton, New Jersey. Fox was recently barred from the industry by the Financial Industry Regulatory Authority (FINRA) after it was alleged that he had borrowed and misappropriated funds from a firm customer. Fox allegedly borrowed $10,000 in funds from another customer on a separate occasion and was suspended for 10 days. The providing of loans or selling of notes and other investments outside of a brokerage firm constitutes impermissible private securities transactions, commonly known as “selling away.” Fox disclosed one of his private securities transactions as being with Fox Wealth Management Group. Selling away is when a broker sells or offers a securities transaction that is not offered or sold by his brokerage firm.

According to his online FINRA BrokerCheck report, Leonard Fox was registered with First Jersey Securities , Merrill Lynch, Janney Montgomery Scott, Morgan Stanley and FSC Securities in Marlton, New Jersey from April 2013 until August 2016. He has four customer disputes against him, one of which is currently pending. He is not licensed within the industry and FINRA has permanently barred him from associating with firms that sell securities to the public. Please call us at 312-332-4200 today to speak to an attorney about your options of bringing legal action against Fox’s former firm, FSC Securities. We may be able to help you recover your financial losses.

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