Haselkorn & Thibaut Opens Investigation into Philip A. Noto II, Barry T. Eisenberg, and Alexander Capital, L.P. (New York, NY)
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If you are an investor who worked with Philip A. Noto II (CRD #4837180) or Barry T. Eisenberg (CRD #2313107) at Alexander Capital, L.P. (CRD #40077) in New York, NY, this detailed research report is for you. Haselkorn & Thibaut, a nationally recognized investment fraud law firm, has opened a comprehensive investigation into the conduct and supervision at Alexander Capital, as well as the actions of these two financial advisors.
With over 50 years of experience, a 98% success rate, and millions recovered for clients, Haselkorn & Thibaut (investmentfraudlawyers.com) stands ready to assist investors concerned about their portfolios. If you have suffered investment losses or have any doubts regarding the handling of your account, call 1-888-994-8066 for a free, confidential consultation. There is no recovery, no fee—you have nothing to lose by seeking guidance.
Background: SEC and Fair Fund Disbursement for Alexander Capital, L.P.
On September 30, 2025, the U.S. Securities and Exchange Commission (SEC) issued an order directing the distribution of a Fair Fund in key administrative proceedings involving Alexander Capital, L.P. and former representatives Philip A. Noto II and Barry T. Eisenberg. The Fair Fund distributed $592,957 to nineteen harmed investors, compensating them fully for losses and reasonable interest stemming from prior unsuitable investment recommendations and supervision lapses at the firm.
The core issues identified:
- Failure to implement and enforce compliance and supervisory procedures (2012–2014)
- Lax supervision enabling mismanagement in client accounts
- Antifraud violations by multiple representatives
- Regulatory action against supervisors for not preventing misconduct
These findings served as the basis for the Fair Fund’s creation and the return of funds to affected clients.
Summary of Complaints and Regulatory Disclosures
Below is a comprehensive summary of disclosure events, based on a review of FINRA BrokerCheck and SEC public records as of July 2024:
| Advisor Name | Advisor CRD # | Broker-Dealer | Broker-Dealer CRD # |
|---|---|---|---|
| Philip A. Noto II | 4837180 | Alexander Capital, L.P. | 40077 |
| Barry T. Eisenberg | 2313107 | Alexander Capital, L.P. | 40077 |
No formal customer complaints, arbitration awards, or reported disciplinary actions currently appear on the FINRA BrokerCheck records for Philip A. Noto II, Barry T. Eisenberg, or Alexander Capital, L.P. Likewise, a search of the SEC’s EDGAR and press release archives yielded no direct enforcement actions against these individuals outside of the referenced settlement.
Important Red Flags and Investor Considerations
It’s crucial for every investor to understand that even in the absence of formal disclosures, regulatory action or returned funds—such as the recent SEC Fair Fund—can signal historical problems with compliance, supervision, and suitability of recommendations. Here’s what investors should be mindful of:
- Supervision Lapses: Firms must actively supervise brokers; failures can result in undetected misconduct, as the SEC found with Alexander Capital during the target period.
- Suitability Rules: Advisors are required to consider your age, investment objectives, liquidity needs, and risk tolerance when suggesting investments. Unsuitable recommendations can lead to significant losses, particularly for retirees or less-experienced investors.
- Disclosure Requirements: While no formal complaints have been reported for Noto, Eisenberg, or Alexander Capital in FINRA records, private settlements or recently occurring misconduct may not yet appear. Continual monitoring is advisable.
- Regulatory History: Alexander Capital discloses six regulatory events in its FINRA record, underscoring the importance of reviewing a broker’s background.
- Past Barred Status: Philip A. Noto II was barred by FINRA in 2019, and Barry T. Eisenberg has left Alexander Capital (as of 2023) and is not registered at any current FINRA broker-dealer.
What Investors Should Do: Steps to Protect Your Interests
If you worked with these advisors or invested through Alexander Capital, review your statements closely for any investments or transactions you do not understand or did not authorize. If you suspect losses, or your portfolio seemed misaligned with your risk tolerance or objectives, seek experienced legal assistance immediately.
Haselkorn & Thibaut offers a confidential, complimentary case review to determine if you may qualify for loss recovery through FINRA arbitration or other means.
Why Choose Haselkorn & Thibaut?
- 50+ years of combined experience nationally
- 98% success rate for investors
- Millions recovered—no recovery, no fee
- Personal, attentive service and free consultations
Don’t wait for more losses or future regulatory findings to impact your financial future. Protect your retirement and hold firms accountable for any lapses in supervision, compliance, or suitability.
Contact Haselkorn & Thibaut Today
Are you worried about investments made with Philip A. Noto II, Barry T. Eisenberg, or Alexander Capital, L.P.? Call Haselkorn & Thibaut’s investment fraud lawyers now at 1-888-994-8066 for your free, confidential consultation. Experienced attorneys are available to review your case, explain your options, and guide you on the best path forward—at no cost and no obligation.
Your financial future deserves an expert advocate on your side.
