Newstown CraigScottCapital: Dark Truths Finally Exposed
What Is Newstown CraigScottCapital?
Newstown CraigScottCapital is not clearly identified as a separate, currently regulated investment company. The name is mainly used as a search phrase connected with Craig Scott Capital, LLC, a former U.S. broker-dealer.
Craig Scott Capital, LLC was a financial firm based in Uniondale, New York. Its FINRA BrokerCheck record identifies the firm as CRD #155924. The firm is no longer an active FINRA member.
This distinction matters because a website or article using the name “Newstown CraigScottCapital” does not automatically represent the historical broker-dealer.
If you are researching the term for investment purposes, verify the exact legal entity and its current regulatory status before trusting any financial claim.
Is Newstown CraigScottCapital a Legitimate Brokerage?
There is no clear evidence that “Newstown CraigScottCapital” is a current licensed brokerage. The documented entity is Craig Scott Capital, LLC, which has a historical FINRA record and is no longer an active member.
FINRA’s BrokerCheck report lists Craig Scott Capital, LLC under CRD #155924 and includes its registration, firm history, operations, and disclosure information.
The safest approach is to avoid treating a modern website, article, or brand name as proof of regulatory authorization.
For any investment service, check the exact legal name in official regulatory databases.
Quick Facts
| Detail | Information |
|---|---|
| Search term | Newstown CraigScottCapital |
| Historical company | Craig Scott Capital, LLC |
| Business type | Broker-dealer |
| CRD number | 155924 |
| Historical location | Uniondale, New York |
| FINRA status | Expelled |
| Current active brokerage status | No |
| Regulatory records | FINRA and SEC |
| Main historical concerns | Trading practices and supervision |
What Was Craig Scott Capital?
Craig Scott Capital, LLC was a U.S. broker-dealer that operated in the securities industry. The company was associated with Craig S. Taddonio and Brent M. Porges.
The SEC identified Craig Scott Capital as a registered broker-dealer in a 2016 administrative proceeding involving the firm and its two principals.
The company later became the subject of significant regulatory action.
That history is important when evaluating articles or websites that discuss CraigScottCapital today.
What Happened to Craig Scott Capital?
Craig Scott Capital ultimately lost its FINRA membership and was expelled from FINRA.
FINRA’s BrokerCheck record provides the firm’s official historical information, including its registration and withdrawal history.
The firm also faced regulatory proceedings involving its business practices and supervisory systems.
Therefore, it would be misleading to describe the historical Craig Scott Capital as a currently active FINRA brokerage.
Why Was Craig Scott Capital Investigated?
Regulators raised concerns about the firm’s supervision, customer information practices, and other compliance issues.
The SEC’s 2016 order found violations involving the protection of confidential customer information and the preservation of business communications.
According to the SEC, the firm used personal email addresses to receive thousands of customer-related faxes. Some contained sensitive information, including names, addresses, Social Security numbers, bank and brokerage account numbers, and copies of identification documents.
The SEC also found that the firm’s procedures did not adequately protect customer records and information.
What Did the SEC Find?
The SEC found that Craig Scott Capital violated requirements related to customer information and business records.
The SEC’s April 12, 2016, order stated that the firm violated Regulation S-P by failing to maintain policies reasonably designed to protect customer records and information. It also found violations of the Exchange Act’s books-and-records requirements.
The proceeding involved Craig Scott Capital, Craig S. Taddonio, and Brent M. Porges.
The respondents settled the SEC proceeding without admitting or denying the findings, except for jurisdictional matters and other specified provisions in the order.
What Penalties Were Imposed?
The firm agreed to pay a $100,000 civil money penalty, while Taddonio and Porges each agreed to pay $25,000.
The SEC’s administrative summary confirms these penalties as part of the settlement.
These penalties relate to the SEC proceeding concerning customer information, records, and communications.
They should not be confused with every other regulatory matter involving the firm or its representatives.
Who Was Craig S. Taddonio?
Craig S. Taddonio was a principal associated with Craig Scott Capital.
The SEC’s proceeding names Taddonio as one of the firm’s principals. The case also examined his role in the firm’s compliance with securities laws and regulatory requirements.
Taddonio was therefore a key figure in the firm’s regulatory history.
Who Was Brent M. Porges?
Brent M. Porges was another principal associated with Craig Scott Capital.
The SEC’s 2016 proceeding named Porges alongside Taddonio and Craig Scott Capital, LLC. The proceeding resulted in findings related to customer information protection and books-and-records requirements.
Both principals agreed to civil money penalties as part of the SEC settlement.
What Does “Churning” Mean in the Craig Scott Capital Context?
Churning refers to excessive trading in a customer’s account that can generate commissions without being justified by the customer’s investment objectives.
The term is important when researching Craig Scott Capital because separate FINRA proceedings involving the firm and associated individuals addressed allegations and findings concerning excessive trading and supervision.
However, readers should distinguish those FINRA matters from the SEC’s 2016 proceeding. The SEC proceeding cited above focused on customer information, communications, and recordkeeping.
Keeping these proceedings separate makes the company’s regulatory history easier to understand.
Is Craig Scott Capital Still Active?
No. Craig Scott Capital should be treated as a historical broker-dealer, not an active FINRA brokerage.
Its FINRA BrokerCheck record identifies the firm as CRD #155924 and provides its historical registration and disclosure information.
This is one of the most important facts for anyone searching for Newstown CraigScottCapital.
A current website using a similar name does not automatically mean it is the same company or that it has inherited the firm’s former regulatory status.
How Can You Check Newstown CraigScottCapital?
Use official regulatory records before trusting any investment-related claim.
Check these details:
- Exact legal company name
- FINRA membership status
- FINRA CRD number
- BrokerCheck record
- SEC registration information
- Registered representatives
- Regulatory disclosures
- Company address
- Current authorization to provide investment services
The historical Craig Scott Capital record can be checked through FINRA BrokerCheck, which specifically warns users to verify who they are dealing with when investing or communicating online.
This is especially important if a website asks for money, account information, identification, or investment deposits.
Newstown CraigScottCapital vs. Craig Scott Capital
| Factor | Newstown CraigScottCapital | Craig Scott Capital, LLC |
|---|---|---|
| What it is | Search phrase/name | Documented historical company |
| Separate legal entity verified? | Not clearly established | Yes. |
| Business | Not clearly established | Broker-dealer |
| CRD number | Not established | 155924 |
| FINRA record | Not clearly established | Yes. |
| Current FINRA membership | Not established | No |
| Regulatory history | Unclear as a separate entity | Extensive historical record |
| SEC record | Not established as a separate entity | Yes. |
The key point is simple: do not automatically connect every modern use of “Newstown CraigScottCapital” with the former Craig Scott Capital, LLC.
What Should Investors Do?
Investors should verify the company before sending money or sharing personal information.
Do not rely only on:
- A company name
- A financial blog
- Social media profiles
- Investment claims
- A professional-looking website
- A claimed FINRA or SEC connection
Instead, confirm the legal entity and current registration through official sources.
If the information does not match, treat that as a warning sign.
Final Verdict
Newstown CraigScottCapital is best understood as a search term associated with the history of Craig Scott Capital, rather than as a clearly verified current brokerage.
Craig Scott Capital, LLC, was a documented U.S. broker-dealer with FINRA CRD #155924. Its history includes regulatory proceedings involving the firm’s operations, supervision, customer information, and recordkeeping. The SEC’s 2016 proceeding resulted in civil money penalties against the firm and its two principals.
The most important takeaway is verification. If a modern website or service uses the CraigScottCapital name, check its exact legal identity and current regulatory status instead of assuming it is the former regulated firm.
