Alain Ohayon: Did Aegis Advisor Breach Fiduciary Duty?

Melville, New York financial advisor Alain Ohayon (CRD# 1180975) recently received an investor complaint alleging that he breached his fiduciary duty and recommended unsuitable investments. Financial Industry Regulatory Authority records show that he is registered as a broker with Aegis Capital.

Mr. Ohayon’s BrokerCheck report discloses multiple investor complaints. The most recent, filed in September 2024, alleges that as a representative of Aegis Capital, he recommended unsuitable investments, breached contract, and breached his fiduciary duty. The pending complaint alleges unspecified damages.

An earlier investor complaint, filed in 2021, alleged that as an Aegis Capital representative, he executed unauthorized trades and recommended investments that performed poorly. In 2022 the complaint reached a settlement of $14,900. In a statement included with the complaint’s disclosure, Mr. Ohayon “vehemently” denied the allegations. “I had reasonable basis to make the recommendations,” he wrote, “based on the clients stated investment objective, experience and profile, to her brother who was trading the account.”

A third investor complaint, filed in 1994, alleged that as a representative of Donaldson Lufkin & Jenrette, he recommended unsuitable investments, misrepresented material facts, and churned investments. In 1995 the complaint reached a settlement of $40,000.

Mr. Ohayon’s LinkedIn profile includes a section in which he describes his services and approach as a Senior Managing Director at Aegis Capital. “I have over 35 years of experience in the financial services industry, working with diverse and high-net-worth individuals and organizations,” he explains. “My core competencies include negotiation, customer service, and corporate finance. I leverage my analytical skills and strategic vision to help my clients achieve their financial goals and optimize their portfolio performance.”

According to the Financial Industry Regulatory Authority, Alain Ohayon holds 41 years of securities industry experience. Based in Melville, New York, he has been registered as a broker with Aegis Capital since 2013. His past registrations include Dominick & Dominick, First Security Investments, Donaldsun Lufkin & Jenrette Securities, Painewebber, and Smith Barney Harris Upham. His credentials include the passage of eight securities industry qualifying exams: the General Securities Sales Supervisor Examination (Options Module & General Module), or Series 8; the General Securities Principal Examination, or Series 24; the General Securities Sales Supervisor – Options Module Examination, or Series 9; the General Securities Sales Supervisor – General Module Examination, or Series 10; the General Securities Representative Examination, or Series 7; the National Commodity Futures Examination, or Series 3; the Securities Industry Essentials Examination, or SIE; and the Uniform Securities Agent State Law Examination, or Series 63. He is licensed in California, Florida, New Jersey, New York, Pennsylvania, South Carolina, and Wyoming. (Information current as of October 20, 2024.)

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