Antoine Souma Barred After Failing to Cooperate with FINRA Investigation
National investment fraud lawyers KlaymanToskes announce that FINRA barred the Beverly Hills based broker Antoine Nabih Souma for violating FINRA Rules. On February 21, 2023, Souma entered into a settlement with FINRA known as a Letter of Acceptance, Waiver, and Consent (“AWC”) after he failed to provide documents and information for FINRA’s 2021 investigation of an Insigneo Securities’ branch office and the ongoing $2 million arbitration claim filed against Souma by KlaymanToskes last August.
Investors that suffered losses at the advice of Antoine Souma should immediately contact attorney Steven D. Toskes at 888-997-9956 or stoskes@klaymantoskes.com to discuss recovery options.
Antoine Souma’s Regulatory History
Antoine Souma, once recognized on Barron’s list of Top 100 Financial Advisors with $3 billion under management, has a history of regulatory issues. In November 2021, Souma entered into his first AWC with FINRA accepting a 2-month suspension and $20,000 fine in connection with a $14,000,000 customer dispute at JPMorgan. One month later, Souma resigned from Galliott Capital LLC as requested by the State of California.
Souma’s second and final AWC, finalized February 21, 2023, ultimately barred him from acting as a broker or otherwise associating with a broker-dealer firm after Souma failed to provide documents and information to aid in FINRA’s investigations.
According to securities attorney Steven D. Toskes, Esq., “We find it very interesting that Souma refused to provide information and documents to FINRA relating to our client. Through the arbitration process, we will be seeking answers as to why Souma refused to cooperate with FINRA in our efforts to obtain a financial recovery for our client’s losses.”
Former and current customers of Antoine Souma who sustained damages at Galliot Capital Advisors, Morgan Stanley, or Insigneo Securities are encouraged to contact Steven D. Toskes, Esq. at 1 (888) 997-9956 or stoskes@klaymantoskes.com.
About Us
KlaymanToskes is a leading national securities law firm which practices exclusively in the field of securities arbitration and litigation on behalf of retail and institutional investors throughout the world in large and complex securities matters. The firm has recovered more than $250 million for investors in FINRA arbitrations and over $350 million in other securities litigation matters for its clients. KlaymanToskes has office locations in California, Florida, New York, and Puerto Rico.
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