• January 4, 2022
• Aegis Capital Corp

Johnny Guan (CRD#: 5711977) is a registered Broker at Aegis Capital Corp. in Red Bank, NJ.

Broker’s Background

He entered the securities industry in 2009 and previously worked for National Securities Corporation and Newbridge Securities Corporation.

Current And Past Allegations Of Conduct Leading To Investment Loss

According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), in August 2021, a customer dispute was filed against Johnny Guan. The allegation states, “Excessive trading.” The customer dispute is pending.

In addition, Johnny Guan has been the subject of three customer complaints, including one that remains pending, including the following:

• April 2021 – “Time frame: December 2012 – November 2020. Claimants allege unsuitable investment recommendations.” Damages of $125,820.12 are requested, and the customer dispute is pending.
• December 2019 – “Time Frame: Unspecified. Claimants allege: Unsuitability, Over Concentration, Unauthorized Transactions, Breach of Fiduciary Duty.” The customer dispute was settled for $5,400.
• April 2016 – “SUITABILITY, MISREPRESENTATION, NEGLIGENCE.” The customer dispute was settled for $7,200.

For a copy of Johnny Guan’s FINRA BrokerCheck, click here.

We Help Investors Recover Investment Losses

Excessive trading often occurs when a Financial Advisor puts his or her interests ahead of the clients and makes transactions solely for the purpose of generating commissions. Financial Advisors have a regulatory duty to recommend suitable investment strategies. One of the components of the suitability analysis is quantitative suitability.

Quantitative suitability requires a brokerage firm or financial advisor with actual or de facto control over a customer’s account to have a reasonable basis for believing that a series of recommended transactions – even if suitable when viewed in isolation – is not excessive and unsuitable for the customer when taken together in light of the customer’s investment profile. No single test defines excessive activity, but factors such as the turnover rate, the cost-equity ratio, and the use of in-and-out trading in a customer’s account may provide a basis for a finding that a member or associated person has violated the quantitative suitability obligation. Financial advisors have a legal and regulatory obligation to recommend only suitable investments that are appropriate for their clients’ needs and objectives. Their employing brokerage firm has a legal and regulatory obligation to supervise the Financial Advisors’ sales practices and dealings with clients. To the extent any of these duties are breached, the customer may be entitled to a recovery of his or her investment losses.

The Wolper Law Firm, P.A. represents investors nationwide in securities litigation and arbitration on a contingency fee basis.  Matt Wolper, the Managing Principal of the Wolper Law Firm, P.A., is a trial lawyer who has handled hundreds of securities cases during his career involving a wide range of products, strategies and securities. Prior to representing investors, he was a partner with a national law firm, where he represented some of the largest banks and brokerage firms in the world in securities matters. We can be reached at (800) 931-8452 or by email at mwolper@wolperlawfirm.com.