N.H. settles trading case with broker
Modified: 3/15/2021 8:11:54 PM
CONCORD The New Hampshire Bureau of Securities Regulation has settled a case against a New York-based broker who has been ordered to pay restitution to the estate of a Lebanon man.
Joseph Ambrosole, a state-licensed broker-dealer made stock trades that were unsuitable for the 80-year-old Lebanon resident he took on as a client in December 2017, the state said in a consent order issued Monday.
Joseph Stone Capital, a New Hampshire registered broker-dealer that Ambrosole worked for, failed to have “adequate written supervisory policies/procedures in effect to monitor Ambrosole’s trading activity,” the consent order says.