Sami Qubty: Ex-Principal Securities Rep Terminated Over Trading Allegations
Publicly available records published by the Financial Industry Regulatory Authority and accessed on June 19, 2019 indicate that former Florida-based Principal Securities broker Sami Qubty was recently terminated from his former employer in connection to alleged rule violations and is currently not affiliated with any broker-dealer firm. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Qubty (CRD# 2121862).
Sami Qubty has spent 28 years in the securities industry and was most recently registered with Principal Securities in Orlando, Florida (2013-2019). He was previously registered with New England Securities in Orlando, Florida (1991-2013). He has passed five securities industry examinations: Series 63 (Uniform Securities Agent State Law Examination), which he obtained on March 18, 1992; SIE (Securities Industry Essentials Examination), which he obtained on October 1, 2018; Series 7 (General Securities Representative Examination), which he obtained on July 8, 1999; Series 6 (Investment Company Products/Variable Contracts Representative Examination), which he obtained on March 6, 1991; and Series 24 (General Securities Principal Examination), which he obtained on April 18, 2001. He is currently not registered with any state or firm.
According to his BrokerCheck report, he has received two customer complaints and was discharged from a former employer in connection to alleged rule violations.
In May 2019 he was terminated from his position at Principal Securities in connection to allegations brought up in an investigation regarding “the frequency of transactions” in some of his customers’ accounts.
In 2014 a customer alleged Sami Qubty, while employed at New England Securities, recommended unsuitable investments and executed unsuitable transactions. The complaint settled for $100,000.
In 2012 a customer alleged Sami Qubty, while employed at New England Securities, did not fully explain an investment in real estate investment trusts. The customer sought unspecified damages in the complaint, which was denied.
In 2006 a customer alleged Sami Qubty, while employed at New England Securities, did not disclose certain expenses and surrender charges associated with a variable annuity, and failed to provide a prospectus. The customer sought more than $6,900 in damages in the complaint, which was denied.
In 1999 a customer alleged he, while employed at New England Securities, failed to make certain disclosures in connection to an insurance policy and did not deliver the policy. The complaint settled for $6,782.
If you or someone you know has a complaint regarding Sami Qubty, call the attorneys at Fitapelli Kurta at 877-238-4175 for a free consultation. You may be able to recover lost funds. Fitapelli Kurta accepts all cases on contingency: we only get paid if and when you collect money. You may have a limited window to file your complaint, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.