Thomas Nguyen (CRD #3092480, Rye, New York)

June 26, 2024 – An AWC was issued in which Nguyen was assessed a deferred fine of $7,500 and suspended from association with any FINRA member in all capacities for three months. Without admitting or denying the findings, Nguyen consented to the sanctions and to the entry of findings that he opened and maintained outside brokerage accounts without disclosing or receiving prior approval from his member firm, and without notifying the executing financial institutions of his association his firm. The findings stated that Nguyen was required to sign and submit regular compliance affirmations disclosing to his firm any outside brokerage accounts, but he failed to disclose these outside brokerage accounts in 12 such compliance affirmations. Furthermore, Nguyen’s undisclosed outside accounts, all of which were actively managed by outside advisors, executed trades that were on his firm’s restricted trading list. The findings also stated that Nguyen failed to disclose OBAs to his firm. Nguyen and his wife were co-owners and members or governors of three limited liability companies that were actively conducting business activities that Nguyen was required to disclose to his firm. In addition, Nguyen was required to sign and submit regular compliance affirmations disclosing his OBAs to his firm, but he did not include these entities in 16 such compliance affirmations. The suspension is in effect from July 1, 2024, through September 30, 2024. (FINRA Case #2022075393201) If you have suffered losses as a result of Thomas Nguyen's act and/or actions we would like to hear from you. We are currently investigating claims on behalf of clients who have suffered significant losses in their portfolios that are managed by Thomas Nguyen. The Schwartz Law Firm represents investors in claims against financial advisors and their firms. If you have questions about your potential claim or need assistance from an investment fraud lawyer, please contact us at 866-618-0545 or email Matthew Schwartz directly at mschwartz@tslfirm.com.