Ross Barish


August 19, 2020

Type of alert:

SEC Complaint  

Ross Barish, a registered representative at Joseph Stone Capital, LLC in Mineola, New York, was recently the subject of a Complaint filed by the Securities and Exchange Commission (SEC). Barish has been associated with Joseph Stone Capital LLC since February 2013.

According to the Complaint, Barish engaged in a high-cost, in-and-out trading strategy in sixteen retail customer accounts between 2013 and 2019, without their knowledge or permission and without conducting due diligence to reasonably determine whether the trading strategy could bring minimal profitability for his customers. The SEC asserts that Barish’s trading activity was unsuitable for his customers based on investing objectives and financial needs identified in their investment portfolios, along with the excessive costs from frequent trading making a minimal profit nearly impossible. As a result of this trading strategy, Barish’s customers experienced $800,000 in losses to customers, while he made $400,000 in commissions.

The SEC seeks permanent injunctive relief, disgorgement of ill-gotten gains, plus interest, and civil penalties.

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