Who is Scott Tominaga? CRD# 2416724
Scott Tominaga has worked for over 25 years in the financial services and alternative investing industries. He began his career as a FINRA regulator and spent over 20 years in brokerage and investment management. He is well-versed in financial services businesses’ middle and back offices, accounting, compliance, and administrative duties. Throughout his career, he has been in charge of all parts of back-office operations, investor relations, and marketing. He graduated with a B.S. in Business Finance from Arizona State University.
Scott Tominaga began his work as a quality control expert at Mitchell Sweet & Associates from 1988 to 1989. He then worked as an Associate and Compliance Examiner, and subsequently as a Senior Compliance Examiner, at the National Association of Securities Dealers, Inc. in Los Angeles, California. He was involved in many situations where he was discovered to be defrauding his consumers. It was discovered that he was doing transactions on behalf of his customers without informing them.
Scott Tominaga on behalf of his member firm, prepared and filed with the NASD 12 false and misleading focus reports. He even failed to appear for an on the record interview.
Allegations against Scott Tominaga
Scott Tominaga has cheated his customers by not informing them about the transactions which he made without their consent. He was making transactions on his customers behalf without telling them anything about it. Not only this, he also on behalf of his member firm, prepared and filed with the NASD 12 false and misleading focus reports. He even did not come for an on the record interview.
- He cheated his customers and made transactions on their behalf without informing them.
- He on behalf of his member firm, prepared and filed with the NASD 12 false and misleading focus reports.
- He even failed to come for an on the record interview.
This is what we found about this broker on FINRA broker check website https://files.brokercheck.finra.org/individual/individual_2416724.pdf
What is NASD?
National Association of Securities Dealers (NASD) was a regulatory body responsible for overseeing the securities industry. It was responsible for both the operation and regulation of all securities exchange, market trading, as well as over the counter (OTC) market trades.
What is FINRA?
The NASD and the NYSE’s regulatory arm merged to establish FINRA. The SEC supervises FINRA, and it is critical that FINRA follows all of the SEC’s regulations, rules, and standards.
FINRA’s key tasks include overseeing securities trading agents, branch offices, and brokerage companies. FINRA regulates securities and securities trading.
Can you expose the broker trying to trick you?
FINRA offers the free web tool BrokerCheck, which allows users to check a broker’s credentials, registration, and employment history. The disclosure part of BrokerCheck includes information on client conflicts, disciplinary proceedings, and specific financial and legal issues on the broker’s record.
FINRA is also in charge of enabling the licensing of representatives who trade securities or provide trading services.
EMPIRE CAPITAL GROUP LLC
This company was established in Arizona on 01/11/1999. Fiscal year of this brokerage firm ends in December. This firm is classified as a limited liability company. This firm is no longer registered with FINRA or a national securities exchange. Allegations on this company are unauthorized trading and the breach of contract.
EMPIRE ASSET MANAGEMENT, LLC (INVESTMENT ADVISOR) and EMPIRE CAPITAL GROUP, LLC (BROKER/DEALER), they both are sister companies owned by the parent company EMPIRE CAPITAL HOLDINGS GROUP, LLC. This firm’s registration was from 07/22/1999 to 10/24/2002.
Who is a broker?
A broker dealer is in the business of buying and selling securities, stocks, bonds, mutual funds, and certain other investment products on behalf of its customer (as broker), for its own bank (dealer), or both. Individuals who work for broker dealers the sales personnel are commonly referred to as brokers.
Who are investment advisers?
An investment adviser is someone who is paid for providing advice about securities to clients. In addition, some investment advisers manage investment portfolios and offer financial planning services. For a financial professional it is very common to act as both a broker and an investment adviser. Therefore it is very important to do proper research about your financial advisor before investing your money.
You should do proper research about your broker before investing your money or giving your sensitive information to them because not only can your investment but also your sensitive information can be misused.
HOW THESE FRAUD BROKERS REMOVE THEIR ALLEGATIONS AND MAINTAIN A CLEAN RECORD
Financial advisors frequently use Disclosure Expungement to remove their complaints from FINRA’s public database. Even legal companies provide expungement services to financial advisors in order for them to conceal or eliminate customer conflicts and preserve a clean record. So, the absence of any disclosure on BrokerCheck does not necessarily mean that there have been no previous disagreements. Even legal documents are frequently removed from the internet.
Scott Tominaga works at a hedge firm in Los Angeles, which explains why we can’t discover any information about his financial misdeeds on Google. This is definitely important that people like him and other investment banking executives who are wrecking lives are always at the top of Google so that innocent people don’t get duped by such scumbags who use their money and power to clear their name and remove all of the allegations that their clients have made against them. It has become quite tough for traders and investors to distinguish between who is a liar and who is truly trustworthy.
Crimes in the financial industry are on the rise, and there is no means for the average citizen to learn about them. We just want to urge all investors to conduct thorough investigation before spending their money or providing sensitive information to such fraudsters since it is not worth it to risk your investment and personal information.