Investor Alleges Philip Gibson Engaged in Fraud and Negligence

Philip Gibson (CRD #: 2905474), a broker registered with Newbridge Securities, allegedly violated securities laws, according to his BrokerCheck record, accessed on June 11, 2022. If you have questions about Philip Gibson’s conduct as a broker, read on.

Investor Dispute

On April 28, 2022, an investor alleged that Philip Gibson violated unspecified securities laws as well as committing fraud, breach of contract, and negligence and negligent supervision. The client seeks $135,000 in damages in this pending dispute.

What is broker negligence?

Brokers can act negligently in many ways, ranging from unauthorized trading to omitting material information about investments’ risks and returns. Investors who feel their losses are the result of broker negligence can seek out FINRA arbitration to recover their funds.

FINRA Rule 3110

Failure to supervise violates FINRA Rule 3110, which requires firms to maintain systems of supervision to ensure their compliance with securities regulations.

Regulatory Action by State of New York

On November 30, 2017, the New York State Department of Financial Services named Philip Gibson in a regulatory action filed against Newbridge Securities Corporation.

Newbridge Securities entered into a stipulation with the Department of Financial Services regarding the firm’s alleged late filing of a disclosure of a regulatory action with the state. The Department of Financial Services notes Philip Gibson was named as a respondent in this stipulation because he served as the designated producer for Newbridge Securities’ insurance business.

New York imposed a $1,000 penalty as a result of this action.

Background Information

Philip Gibson has passed the following exams:

• Series 65 – Uniform Investment Adviser Law Examination
• Series 63 – Uniform Securities Agent State Law Examination
• SIE – Securities Industry Essentials Examination
• Series 7 – General Securities Representative Examination
• Series 24 – General Securities Principal Examination

Philip Gibson is a registered broker in 33 states and the District of Columbia.

He has also worked for the following firms:

• Sands Brothers & Company (CRD#:26816)
• Bluestone Capital Corporation (CRD#:13516)
• Shochet Securities (CRD#:8275)
• GKN Securities (CRD#:19415)
• First American Equities (CRD#:31091)
• Joseph Charles & Associates (CRD#:3949)

Kurta Law Can Help

If you worked with Philip Gibson and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.