After FINRA barred former NMS Capital Securities (Beverly Hills, California) brokers Arthur Mansourian, Trevor Michael Saliba, Richard Daniel Tabizon (all Southern California), and Sperry Randall Younger (New York) for various disclosure and policy violations, including use of personal e-mail, soliciting backdated outside business activities, and repeatedly providing false, incomplete, and misleading information to FINRA, the National Adjudicatory Council affirmed FINRA's decision, barring all four from the securities industry.
Though it may appear a formality, NAC Decision #2013037522501 turns out to be quite important, as Trevor Saliba (CRD #2692057) and Arthur Mansourian (CRD #5252154) remained registered as brokers with NMS Capital Advisors with proper broker registration through December 31, 2018 (Saliba) and January 11, 2019 (Mansourian), all while FINRA's investigation and their appeals played out.
Mansourian, for instance, in his appeal claimed not to have awareness of various compliance measures (per Mansourian's BrokerCheck comment, "Mr. Mansourian had absolutely no compliance background and was not aware what he was doing"), yet an EB-5 Visa Investments Marketplace profile for Mansourian lists him as Vice President for a firm that specializes in, among other things, "broker dealer compliance."
According to NAC, Mansourian's testimony changed between several hearing dates, first claiming that he "'did the personal emails...at the direction of Trevor Saliba'" and, later, claiming that "Tabizon directed him to send the email [concerning backdated and recreated compliance forms], told him to use personal email addresses, and dictated the content of the email to him word for word."
The regulator found that although Saliba, Mansourian, and Tabizon's testimonies contradicted each other, the common theme was that all partook in "recreating" compliance documents and backdated forms.
According to his profile, Mansourian is presently associated with NMS Consulting Inc., also of Beverly Hills. NMS Capital's CEO, Saliba, announced in September 2018 that the firm would spin off its consulting practice as NMS Consulting Inc., which is not subject to FINRA oversight.
In 2018, an Office of Hearing Officers extended panel found that Mansourian, Saliba, Tabizon, and Younger violated various FINRA rules and compliance measures while providing investigators with false or fabricated documents; for instance, backdating compliance forms and forging memos, submitting them to FINRA's Los Angeles office as if they were genuine.
The April 2018 OHO decision affirmed Tabizon (Rosemead, CA)'s bar, while the others remained on appeal until NAC released its final decision.
If you have invested with Arthur Mansourian, Trevor Michael Saliba, Richard Daniel Tabizon, or Sperry Randall Younger of NMS Capital Securities or NMS Capital Advisors and have suffered harm as a result of these barred brokers, or any other financial adviser's actions in forging, fabricating, or altering forms; using personal e-mails that caused the firm not to store vital communications; or soliciting outside business activities or private securities transactions not approved by the firm, please call The Law Offices of Jonathan W. Evans & Associates at (800) 699-1881 for investigation and consultation.