NICHOLAS GEORGE PHOTIADIS is currently employed as a Broker and/or Investment Adviser at LPL FINANCIAL LLC located at 461 FROM RD, 3RD FL, STE 385, PARAMUS, NJ, 07652-3524.
NICHOLAS GEORGE PHOTIADIS has worked at LPL FINANCIAL LLC since March 18, 2011
Disclosure History
NICHOLAS GEORGE PHOTIADIS has 3 Disclosure Event(s).
Date: March 29, 2011 Category: Customer Dispute Allegations: THE CUSTOMER ALLEGES UNSUITABLE INVESTMENT RECOMMENDATIONS AND UNAUTHORIZED TRADING FROM OCTOBER 2007 TO SEPTEMBER 2009. Damage Amount Requested: $1,000,000.00 Settlement Amount: $125,000.00 11-01119
Date: March 01, 2010 Category: Customer Dispute Allegations: THE CUSTOMERS ALLEGE UNSUITABLE INVESTMENT RECOMMENDATIONS AND MISREPRESENTATION IN 2007 AND 2008. Damage Amount Requested: $300,000.00 Settlement Amount: $341,087.50
Date: April 13, 2009 Category: Customer Dispute Allegations: THIS VERBAL COMPLAINT AROSE OUT OF THE SALE OF AN AUCTION RATE SECURITY (ARS) THAT WAS MADE PRIOR TO THE UNPRECEDENTED ILLIQUIDITY IN THE ARS MARKET THAT OCCURRED IN FEBRUARY 2008. Settlement Amount: $100,000.00 Broker Comment: THIS MATTER INVOLVES THE SALE OF AUCTION RATE SECURITIES (ARS). THE TRANSACTION(S) AT ISSUE TOOK PLACE BEFORE MID-FEBRUARY 2008, WHEN THE ARS MARKET SUFFERED WIDESPREAD AUCTION FAILURES AND ILLIQUIDITY. THE FINANCIAL ADVISOR DID NOT CAUSE, CONTRIBUTE OR HAVE ANY CONTROL WHATSOEVER OVER THESE MARKET EVENTS. THE FIRM REACHED AGREEMENT WITH CERTAIN OF ITS REGULATORS, PURSUANT TO WHICH IT REPURCHASED ARS FOR THEIR FULL PAR VALUE FROM CERTAIN CLIENTS, INCLUDING THE INSTANT CLIENT, WHERE THEY COMPLAINED OR NOT. THE FINANCIAL ADVISOR WAS NOT A PARTY TO THAT AGREEMENT, DID NOT MAKE ANY PAYMENT TO THE CLIENT, AND WAS NOT ASKED TO AND DID NOT CONTRIBUTE TO THE REPURCHASE AMOUNT. THE SETTLEMENT AMOUNT IN ITEM 11 ABOVE REFLECTS THE PAR VALUE OF THE REPURCHASED ARS, AS REQUIRED BY FINRA REGULATORY NOTICE 09-12.
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