RONALD SARNO is currently employed as a Broker and/or Investment Adviser at SAXONY SECURITIES, INC. located at 7401 Watson Road, Suite 86, ST. LOUIS, MO, 63119.
RONALD SARNO has worked at SAXONY SECURITIES, INC. since September 02, 2003
Disclosure History
RONALD SARNO has 2 Disclosure Event(s).
Date: May 08, 2001 Category: Customer Dispute Allegations: 5/02: STATEMENT OF CLAIM ALLEGES UNSUITABLE TRADING, EXCESSIVE TRADING, DISCRETIONARY TRADING, MIREPRESENTATION5/01: COMPLAINED OF UNSUITABLE INVESTMENTS AND EXCESSIVE TRADING. IN RESPONSE TO NASD, CSA STATED THAT AFTER REVIEWING THE VARIOUS ELEMENTS OF CUSTOMER'S COMPLIANT, AND SPEAKING WITH THE PARTIES INVOLVED, IT WAS THE OPINION OF CSA THAT RON HANDLED HIMSELF AND THE CUSTOMERS ACCOUNT IN A MATTER THAT COMPORTED WITH THE CLIENT'S STATED INVESTMENT OBJECTIVES AND FINANCIAL RESOURCES AS WELL AS THE APPLICABLE NASD RULES AND REGULATIONS. THE MATTER WAS CLOSED WITH A STATUS OF NO ACTION. Damage Amount Requested: $143,137.00 Settlement Amount: $75,000.00 Broker Comment: THE SETTLEMENT WAS PAID BY CLEARING SERVICES OF AMERICA, THIS ENTITY IS BANKRUPT, NOT BY MR. SARNO. IN A STATEMENT TO THE NASD DATED 12/03/2003 BY CUSTOMER IN A AFFIDAVIT TO INFORM ANY INTERESTED PARTY THAT I DO NOT OBJECT TO ANY MOTION BY RONALD SARNO TO HAVE THIS MATTER EXPUNGED FROM THIS CENTRAL REGISTRATION DEPOSITORY RECORD. MR. SARNO WILL ACTIVELY SEEK EXPUNGEMENT. CUSTOMER'S PREVIOUS ACCOUNT AT PAINEWEBBER SHOWS SHE HAS AN AGGRESSIVE NATURE. HER PAINEWEBBER ACCOUNT IS MARKED AS RETURN OBJECTIVES: CURRENT INCOME & CAPITAL GROWTH AND HER RISK PROFILE SHOWS: MODERATE, AGGRESSIVE, SPECULATIVE. ALSO CUSTOMER SIGNED AN ACTIVE TRADING DISCLOSURE FORM BEFORE I WOULD DO ANY TRADES FOR HER.
Date: April 23, 1993 Category: Customer Dispute Allegations: ESTATE ALLEDGE CLAIMANT WAS NOT ASOPHISTICATED INVESTOR $30,000 Damage Amount Requested: $30,000.00 Damages Granted: $7,815.00 Broker Comment: SETTLEMENT ONLY $7815THE ARBITRATOR THOUGHT IT FAIR TO AWARD $7815 -INSTEAD OF $30,000
More Information
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