Shadi Taysir Barakat (also known as Sean Barakat), of New York, New York, a stockbroker registered with Spartan Capital Securities LLC, is the subject of an enforcement action initiated by Financial Industry Regulatory Authority (FINRA) in which the regulator is seeking sanctions against Barakat based on allegations that Barakat failed to provide testimony during an…
Chadwick David Carrick (also known as Chadwick Davie Carrick and as Chad Carrick), of Mobile, Alabama, a stockbroker registered with Stifel Nicolaus Company Incorporated, was referenced in a customer initiated investment related civil action that was settled for $300,000.00 in damages based upon the alleged breach of fiduciary duty, churning, excessive trading, failure to supervise,…
Michael Richard Rosalia, of Melville, New York, a stockbroker registered with SW Financial, is the subject of an enforcement action initiated by Financial Industry Regulatory Authority (FINRA) in which the regulator is seeking sanctions against Rosalia for allegedly failing to comply with FINRA in connection with its investigation into Rosalia’s potential unsuitable and excessive trading…
Stephen James Sullivan of Garden City, New York, a stockbroker registered with Spartan Capital Securities LLC, is the subject of an enforcement action initiated by Financial Industry Regulatory Authority (FINRA) in which the regulator is seeking sanctions against Sullivan based upon allegations that Sullivan failed to provide testimony requested by FINRA in connection with its…
William Robert Mielke Jr., of Green Bay, Wisconsin, a stockbroker registered with Stifel Nicolaus Company Incorporated, was the subject of a customer initiated investment related complaint that was settled on March 21, 2022, for $18,144.00 in damages based upon allegations that Mielke engaged in unauthorized trading in stocks, options, and mutual funds when Mielke was…
Robert Steven Meyer, of Point Pleasant Beach, New Jersey, a stockbroker registered with Monmouth Capital Management LLC, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because Meyer refused to appear for testimony in a FINRA investigation. Letter of Acceptance, Waiver, and Consent No. 2022076459306 (April 9, 2024)….
Dax Aaron Seale (also known as Dax Seale), of Dallas, Texas, a stockbroker registered with Raymond James Associates Inc., was the subject of a customer initiated investment related civil action that was settled for $9,500.00 in damages based upon allegations that Seale engaged in unsuitable trading and “reverse churning,” when Seale was associated with Raymond…
James Brett Stuart of Castle Rock, Colorado, a stockbroker previously registered with Richfield Orion International Inc., was barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because he failed to create and implement a supervisory system designed to comply with securities laws and FINRA rules; he failed to supervise stockbrokers’…
Louis Joseph Pellegriti, of New York, New York, a stockbroker registered with Spartan Capital Securities LLC, was the subject of a customer initiated investment related Financial Industry Regulatory Authority (FINRA) securities arbitration claim that was settled for $500,000.00 in damages based upon allegations that Pellegriti breached his fiduciary duties, engaged in churning, made misrepresentations of…
Joseph C. DeSapio, of New York, New York, a stockbroker registered with Spartan Capital Securities LLC, has been suspended for 15 months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because DeSapio engaged in excessive and unsuitable trading in customer accounts and borrowed money from a customer. Letter of Acceptance,…
Stewart Ginn (also known as Stewart Taylor and Paxton Ginn Jr.), of Santa Maria, California, a stockbroker registered with Independent Financial Group LLC, is the subject of a Financial Industry Regulatory Authority (FINRA) Complaint in which the regulator is seeking sanctions against Ginn based upon allegations that Ginn churned customer accounts. Department of Enforcement v….
Tory A. Duggins of New York, New York, a stockbroker registered with Spartan Capital Securities LLC, has been suspended for eighteen months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because Duggins engaged in excessive trading and failed to report a customer complaint. Letter of Acceptance, Waiver, and Consent No….
Troy Allen Orlando of New York, New York, a stockbroker registered with Spartan Capital Securities LLC, has been fined and suspended for 20 months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because Orlando engaged in excessive and unsuitable trading in customer accounts. Letter of Acceptance, Waiver, and Consent No….
Arthur Bruce McQuaide of Garden City, New York, a stockbroker registered with Spartan Capital Securities, LLC, has been suspended for six months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because McQuaide engaged in churning or excessive trading in his customer accounts during the time that he was associated with Spartan…
Yann C. Faho (also known as John Faho and Jann Faho), of New York, NY, a stockbroker registered with Aegis Capital Corp., has been fined $5,000.00 and suspended for two months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because Faho used unauthorized communication devices to correspond with customers regarding…
Nicholas Michael Caruso of Red Bank, New Jersey, a stockbroker formerly registered with Monmouth Capital Management LLC, has been suspended for three months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because Caruso engaged in excessive trading during the time that he was associated with Monmouth Capital Management LLC. Letter…
Gary Steven Costello II, of Boca Raton, Florida, a stockbroker registered with Oppenheimer Co. Inc., is the subject of an investment related FINRA securities arbitration claim in which the customer requested $2,103,426.00 in damages based upon allegations that Costello engaged in churning, unauthorized withdrawals, negligence, breach of fiduciary duty, breach of contract, fraud, and state…
David Edwin Alvarado, of New York, New York, a stockbroker formerly associated with SW Financial, also known as Saloman Whitney LLC, is the subject of a customer initiated investment related Financial Industry Regulatory Authority (FINRA) securities arbitration claim. The customer seeks $30,000.00 in damages based upon allegations that Alvarado engaged in unsuitable, excessive, and unauthorized…
Monmouth Capital Management LLC, a securities broker dealer headquartered in Point Pleasant Beach, New Jersey, has been expelled from Financial Industry Regulatory Authority (FINRA) membership because it churned customer accounts and failed to supervise certain representatives, resulting in losses to customers. Letter of Acceptance, Waiver, and Consent No. 2022076459303 (July 6, 2023). Between August of…
Raymond William Clark of Point Pleasant Beach, New Jersey, a stockbroker registered with Monmouth Capital Management LLC, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because Clark failed to testify when FINRA investigated the stockbroker for possible violations of FINRA rules. Letter of Acceptance, Waiver, and Consent…
Eduardo Andrew Martinez (also known as Andrew Martins and Andrew Martin), of New York, New York, a stockbroker registered with PHX Financial Inc., is the subject of a customer initiated investment related FINRA securities arbitration claim in which the customer requested $33,269.42 in damages based upon allegations that Martinez engaged in unauthorized trading, breached fiduciary…
Ivan Richard Gefen of Boca Raton, Florida, a stockbroker registered with Newbridge Securities Corporation, is the subject of a customer initiated investment related FINRA securities arbitration claim in which the customer requested $1,200,000.00 in damages based upon allegations that Gefen breached a contract, committed fraud, was negligent, and breached fiduciary duties in connection with the…
Biaggio Anthony Caroleo (also known as Blaise Anthony Caroleo), of New York, New York, a stockbroker registered with SW Financial, is the subject of a customer initiated investment related Financial Industry Regulatory Authority (FINRA) securities arbitration claim in which the customer requested $264,475.00 in damages based upon allegations that Caroleo was negligent, engaged in unauthorized…
Douglas Blake Solinsky of New York, New York, a stockbroker registered with Newbridge Securities Corporation, has been fined $10,000.00 and suspended for four months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because Solinsky engaged in excessive and unsuitable trading. Letter of Acceptance, Waiver, and Consent No. 2019064511203 (June 29,…
Kumail Abbas (also known as Ken Abbas), of Melville, New York, a stockbroker registered with Laidlaw Company (UK) Ltd., is the subject of a customer initiated investment related FINRA securities arbitration claim in which the customer requested $181,056.00 in damages based upon allegations that Abbas charged excessive commissions and engaged in excessive and unauthorized trading…
Arkady Ginsburg of New York, New York, a stockbroker registered with Aegis Capital Corp., has been censured by the State of Maryland because he was sanctioned by Financial Industry Regulatory Authority (FINRA) for unsuitable and excessive trading. Consent Order No. 20220157 (June 14, 2022). Ginsburg’s registration has been withdrawn in the state, and he agreed…
Matthew Eric Platnico of New York, New York, a stockbroker registered with Allied Millennial Partners LLC, has been fined $10,000.00 and suspended for nine months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because Platnico engaged in unsuitable and unauthorized trading in a customer’s account. Letter of Acceptance, Waiver, and…
David Jonathon Feigeles of Melville, New York, a stockbroker registered with Oppenheimer Co. Inc., is the subject of a customer initiated investment related FINRA securities arbitration claim in which the customer requested $3,500,000.00 in damages based upon allegations that Feigeles breached his fiduciary duties, breached a contract, converted funds, was negligent, failed to supervise certain…
Michael Ciro Colletti of Glen Cove, New York, a stockbroker registered with The Investment Center Inc., is the subject of an enforcement action initiated by FINRA in which the regulator is seeking sanctions against Colletti based upon allegations that Colletti engaged in unauthorized and unsuitable trading. Department of Enforcement v. Colletti, Complaint No. 2019061942901 (February…
Todd Anthony Cirella of Melville, New York, a stockbroker registered with Laidlaw Company Ltd., has been fined $5,000.00 and suspended for three months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because Cirella made unsuitable recommendations and engaged in churning or excessive trading. Letter of Acceptance, Waiver, and Consent No….
Joseph Michael Fedorko Jr., of Greenwich, Connecticut, a stockbroker registered with Laidlaw Company Ltd., has been fined $7,500.00 by Connecticut’s Banking Commissioner because Fedorko engaged in excessive and unauthorized trading and engaged in business as an unregistered investment adviser agent. Case No. CO-22-20225-S (May 17, 2022). Fedorko has also been fined $7,500.00 and suspended for…
Leonid Yurovsky (also known as Lenny Yurovsky), of Mineola, New York, a stockbroker registered with Joseph Stone Capital LLC., has been suspended for five months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because Yurovsky engaged in excessive and unsuitable trading. Letter of Acceptance, Waiver, and Consent No. 2020066888401 (December…
Richard Foerster Reynolds of Garden City, New York, a stockbroker registered with Worden Capital Management LLC, was the subject of a customer initiated investment related FINRA securities arbitration claim that was settled for $100,000.00 in damages based upon allegations that Reynolds made unsuitable investment recommendations, engaged in unauthorized trading, churned the customer’s accounts, committed fraud,…
The Guiliano Law Group is pleased to announce that the United States District Court for the Northern District of Georgia entered a judgment and confirmed a $1.9 million arbitration award rendered against the president and owner of a Connecticut based securities broker-dealer and one of its former agents. Malone et al v. Stoyeck et al.,…
Chad Edward Allen of New York, New York, a stockbroker registered with Oppenheimer & Co. Inc., was the subject of a customer initiated investment related FINRA securities arbitration claim that was settled for $50,000.00 in damages based upon allegations that Allen committed fraud, engaged in excessive and unauthorized trading, made unsuitable recommendations, and failed to…
Brian Robert Roth of Morristown, NJ, a stockbroker registered with Newbridge Securities Corporation, is the subject of a customer initiated investment related FINRA securities arbitration claim in which the customer requested $1,500,000.00 in damages based upon allegations that Roth made misrepresentations and omissions of material fact and failed to supervise certain registered representatives in connection…
Elliot Hough Sherer of Melville, NY, a stockbroker registered with Aegis Capital Corp., is the subject of a customer initiated investment related FINRA securities arbitration claim in which the customer requested damages based upon allegations that Sherer breached his fiduciary duties, was negligent, made misrepresentations of material fact, breached a contract, and churned the customer’s…
Eugene Arthur McAdams (also known as Eugene Arthur Mc Adams), of Center Moriches, NY, a stockbroker registered with Joseph Stone Capital LLC, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because McAdams failed to testify when FINRA investigated the stockbroker for possible violations of FINRA rules with…
Bernard F. Jasmin (also known as Berny Francis and Berny Jazz), of New York, NY, a stockbroker registered with Empire Asset Management Company, is the subject of a customer initiated investment related FINRA securities arbitration claim in which the customer requested $4,800,000.00 in damages based upon allegations that Jasmin committed fraud, churned the customer’s accounts,…
James J. Mariani of Mineola, New York, a stockbroker registered with Aegis Capital Corp., was the subject of a customer initiated investment related FINRA securities arbitration claim that was settled for $50,000.00 in damages based upon allegations that Mariani made unsuitable recommendations, engaged in excessive and unauthorized trading, breached his fiduciary duties, was negligent, and…
Terry Tzagarakis (also known as Terry Rakis), of Bay Ridge, New York, a stockbroker registered with Spartan Capital Securities LLC, has been fined $10,000.00 and suspended for twelve months from associating with any Financial Industry Regulatory Authority (FINRA) member because Tzagarakis engaged in excessive trading. Letter of Acceptance, Waiver, and Consent No. 2018056490305 (October 14,…
John Sebastion Cangialosi Jr., of New York, New York, a stockbroker registered with Worden Capital Management LLC, is the subject of a customer initiated investment related FINRA securities arbitration claim in which the customer requested $1,281,156.00 in damages based upon allegations that Cangialosi churned the customer’s account, charged excessive commissions, made misrepresentations of material fact,…
Mitchell Scott Biernick of Freeport, New York, a stockbroker registered with Arive Capital Markets, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because Biernick failed to testify during the time that FINRA investigated the stockbroker for possible violations of FINRA rules. Letter of Acceptance, Waiver, and Consent…
Mirsad A. Muharemovic (also known as Mirso Muharemovic), of Staten Island, New York, a stockbroker registered with Arive Capital Markets, was the subject of a customer initiated investment related FINRA securities arbitration claim that was settled for $115,000.00 in damages based upon allegations that Muharemovic churned the customer’s account, engaged in excessive trading, and made…
Stephen James Sullivan of Garden City, New York, a stockbroker registered with Salomon Whitney LLC, has been fined $10,000.00 and suspended for nine months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because Sullivan engaged in unsuitable trading. Letter of Acceptance, Waiver, and Consent No. 2019061952601 (October 21, 2022). FINRA…
Anthony Tricarico of New York, New York, a stockbroker registered with Aegis Capital Corp., was the subject of a customer initiated investment related FINRA securities arbitration claim that was settled for $450,000.00 in damages based upon allegations that Tricarico made unsuitable recommendations of investments when Tricarico was associated with Aegis Capital Corp. Financial Industry Regulatory…
Joseph Michael Giordano (also known as Joe Giordano) of Melville, New York, a principal registered with Aegis Capital Corp. has been fined $10,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity for six months based upon allegations that Giordano failed to supervise. FINRA Enforcement (AWC) No. 2016051704306 (Nov….
Timothy Patrick Higgins (also known as Tim Higgins), of Garden City, New York, a stockbroker registered with Spartan Capital Securities LLC, is the subject of a Financial Industry Regulatory Authority (FINRA) enforcement decision where he was permanently barred when he failed to testify in connection with a FINRA investigation of is conduct. FINRA Enforcement Action…
John Michael Lopinto of New York, New York, a stockbroker registered with Worden Capital Management LLC has been fined $7,500.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity for nine months based upon allegations that Lopinto engaged in the excessive and unauthorized trading of his customer accounts. FINRA…
Praxedes Russi of Garden City, New York, a stockbroker registered with Worden Capital Management LLC, is the subject of a customer initiated investment related Financial Industry Regulatory Authority (FINRA) securities arbitration claim in which the customer requested $15,974.00 in damages based upon allegations that Russi churned the customer’s account, charged the customer excessive commissions, made unauthorized…
John Joseph Santariello of Coram, New York, a stockbroker registered with Arive Capital Markets, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that Santariello failed to pay a FINRA arbitration customer award against him for more than $420,000. FINRA Arbitration No. 19-02196 (Jan. 10,…
Nicholas James Schiano of New York, New York, a stockbroker registered with Spartan Capital Securities LLC, is the subject of a customer initiated investment related Financial Industry Regulatory Authority (FINRA) securities arbitration claim in which the customer requested $350,343.10 in damages based upon allegations that Schiano churned the customer’s account, made unsuitable investment recommendations, breached…
Joseph Paul Todaro, of Melville, New York, a stockbroker registered with SW Financial, is the subject of a customer initiated investment related Financial Industry Regulatory Authority (FINRA) securities arbitration claim in which the customer requested $194,599.73 in damages based upon allegations that Todaro engaged in excessive trading, charged the customer excessive commissions, and engaged in…
Douglas Jarrett Rosenberg of Mineola, New York, a stockbroker currently registered with Joseph Stone Capital LLC, has been suspended for seven months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because of his excessive and unsuitable trading during the time that he was associated with Joseph Stone Capital. 2019063821605 (December…
Adam Maggio of Mineola, New York, a stockbroker currently registered with Joseph Stone Capital LLC, is the subject of a customer initiated investment related FINRA securities arbitration claim in which the customer requested $2,087,663.24 in damages based upon allegations that Maggio made unauthorized and unsuitable transactions, churned the customer’s account, acted negligently, and breached a…
James Robert Pecoraro of Melville, New York, a stockbroker formerly registered with SW Financial has been fined $10,000.00 and suspended for nine months from associating with any FINRA member in any capacity based upon allegations that Pecoraro engaged in quantitatively unsuitable excesive trading in customer accounts. Letter of Acceptance Waiver and Consent No. 2017056820701 (Aug….
Ahmad Mohamed Maklouf (also known as Ed Maklouf) of New York, New York, a stockbroker currently registered with Spartan Capital Management LLC, is referenced in a customer initiated investment related FINRA securities arbitration claim where the customer sought $350,343.10 in damages based upon allegations that Maklouf churned accounts, breached a fiduciary duty, made unsuitable and…
Michael Christopher Venturino of Garden City, New York, a stockbroker registered with Aegis Capital Corp., is referenced in an enforcement action initiated by Financial Industry Regulatory Authority (FINRA) where the regulator is seeking sanctions against Venturino based upon allegations that Venturino committed fraud and made excessive and unsuitable transactions in Aegis Capital Corp customer accounts….
Franz Helmut Lambert II of New York, New York, a stockbroker formerly registered with Worden Capital Management LLC, has been fined $5,000.00 and suspended for five months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because he effected unsuitable and excessive trades in a customer’s Worden Capital Management account. Letter…
Thomas Duggan of Melville, New York, a stockbroker formerly registered with Aegis Capital Corp, was referenced in a customer initiated investment related FINRA securities arbitration claim which was settled for $7,500.00 in damages based upon accusations that Duggan made excessive and unauthorized trades while he was registered with Aegis Capital Corp. Financial Industry Regulatory Authority…
Lawrence John Fawcett (also known as Larry Fawcett Jr.) of Los Angeles, California, a stockbroker formerly registered with Westpark Capital and Salomon Whitney Financial, has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member supported by allegations that Lawrence failed to pay an arbitration award to an investor. FINRA Public Disclosure …
Philip Marchese of New York, New York, a stockbroker formerly registered with Spartan Capital Securities LLC, has been suspended for twelve months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that Marchese made unsuitable recommendations to a customer when Marchese was employed by Spartan Capital. Letter of…
Scott Neil Hananel of Melville, New York, a stockbroker formerly registered with Aegis Capital Corp, has been fined $7,500.00 and suspended for 15 months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings that Hananel engaged in unsuitable and excessive trading when he was associated with Aegis Capital…
Francis Joseph Velten (also known as Frank Velten) of New Port Richey, Florida, a stockbroker formerly registered with Summit Brokerage Services Inc., has been charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement with failing to cooperate in a FINRA investigation into accusations of Velten’s churning of customer accounts when he was employed by…
Patrick Nicholas Teutonico of Seaford, New York, a stockbroker currently registered with Network 1 Financial Securities, has been suspended for three months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that Teutonico made excessive and unsuitable trades during the time that he was associated with Network 1…
Marc Augustus Reda of New York, New York, a stockbroker formerly registered with Spartan Capital Securities, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based on findings that he churned investor accounts and made unauthorized trades when he was employed by Spartan Capital Securities. Department of Enforcement…
Arkady Ginsburg of New York, New York, a stockbroker currently registered with Aegis Capital Corp, has been suspended for six months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings of his excessive trading in customers’ accounts during the time that he was employed by Aegis Capital Corp….
John Anthony Orlando of Melbourne Beach, Florida, a stockbroker currently registered with SW Financial LLC, is the subject of a FINRA investigation where FINRA has recommended that Orlando face disciplinary action founded on accusations of his violation of federal securities laws and FINRA rules. FINRA Investigation No. 20190636333 (February 22, 2022). According to FINRA Public…
Albert Foronda of New York, New York, a stockbroker currently registered with Spartan Capital Securities LLC, is identified in a customer initiated investment related FINRA arbitration claim where the customer sought $36,836.24 in damages founded on accusations of unauthorized and unsuitable trading by Foronda concerning a private placement when Foronda was registered with Spartan Capital…
Serge Parakhnevich (also known as Serge Parker) of New York, New York, a stockbroker currently registered with PHX Financial Inc., is the subject of a customer initiated investment related FINRA arbitration claim which was settled for $14,999.00 in damages based upon accusations of breach of fiduciary duty by Parakhnevich concerning over-the-counter equities executed in the…
Jason Andrew Wilk (also known as Jason A. Wilks) of New York, New York, a stockbroker formerly registered with Worden Capital Management, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that Wilk failed to testify in a FINRA investigation regarding allegations of his excessive…
Nicholas James Schiano of New York, New York, a stockbroker currently registered with Spartan Capital Securities LLC, is the subject of a customer initiated investment related FINRA securities arbitration claim where the customer sought $350,343.10 in damages founded on accusations that the customer’s account was churned and that unauthorized trades were made by Schiano during…
William Nicholas Athas, of Melville, New York, a stockbroker formerly registered with Worden Capital Management and KC Ward Financial, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity according to an Order Accepting Offer of Settlement issued by FINRA Office of Hearing Officers. Department of Enforcement v. William…
John Dennis Lowry, of New York, New York, a stockbroker and Chief Executive Officer of Spartan Capital Securities, is referenced in another customer initiated investment related FINRA securities arbitration claim in which the customer requested compensatory damages supported by allegations including failure to supervise, unauthorized trading, misrepresentation, unsuitability, breach of fiduciary duty, and churning concerning…
Jonathan Michael Ebel, of Hauppauge, New York, a stockbroker formerly registered with Laidlaw Company (UK) Ltd., is referenced in a customer initiated investment related, FINRA Securities Arbitration claim in which the customer sought $30,000.00 in damages based upon accusations of excessive and unsuitable trading in the customer’s account by Ebel during the time that he…
Adam Maggio, of Mineola, New York, a stockbroker currently registered with Joseph Stone Capital LLC, has been fined $5,000.00 and suspended for five months from associating with any Financial Industry Regulatory Authority (FINRA) member in any principal capacity supported by findings that he failed to supervise a stockbroker which resulted in excessive trading in customer…
Daniel James O’Neill (also known as Dan O’Neill and as Daniel James Oneill), of Melville, New York, a stockbroker formerly registered with Aegis Capital Corp, has been issued an Order Accepting Offer of Settlement by Financial Industry Regulatory Authority (FINRA) where O’Neill has been suspended from associating with any FINRA member in any capacity based…
Joseph Albert Ambrosole, of New York, New York, a stockbroker formerly registered with Joseph Stone Capital LLC, is identified in a customer initiated investment related written complaint on July 30, 2021, where the customer sought $853,231.33 in damages founded on accusations of unsuitable trading of over-the-counter equities by Ambrosole between February of 2021 and May…
Anthony Joseph Graziano, of New York, New York, a stockbroker currently registered with Joseph Stone Capital LLC, has been fined $5,000.00 and suspended for three months from associating with any Financial Industry Regulatory Authority (FINRA) member in any supervisory capacity supported by findings that he failed to supervise a stockbroker who made excessive trades in…
Joseph Michael Fedorko Jr, of Greenwich, Connecticut, a stockbroker formerly registered with Laidlaw Company (UK) Ltd., has been fined $7,500.00 and suspended for ten months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings of Fedorko’s excessive and unsuitable trading while he was employed by Laidlaw Company. Letter…
David Khezri, of Hauppauge, New York, a stockbroker formerly registered with Network 1 Financial Securities Inc. and Worden Capital Management LLC, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based on findings that he hindered a FINRA investigation into accusations of his unsuitable investment advice to investors….
Peter N. Girgis, of New York, New York, a stockbroker formerly registered with Worden Capital Management LLC, has been fined $7,500.00 and suspended for nine months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that he excessively traded in customer accounts during the time that he was…
Douglas Jarrett Rosenberg, of Hauppauge, New York, a stockbroker currently registered with Joseph Stone Capital LLC, has been suspended for seven months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings of Rosenberg making unsuitable and excessive trades in the accounts of three Joseph Stone Capital customers. Letter…
Michael Christopher Venturino, of Garden City, New York, a stockbroker formerly registered with Aegis Capital Corp, is identified in a FINRA investigation. Case No. 20210703375 (September 13, 2021). FINRA is contemplating taking disciplinary action against Venturino for potentially making excessive trades in customer accounts when he was registered with Aegis Capital Corp. According to FINRA…
Stephen Sloane, of New York, New York, a stockbroker formerly registered with WestPark Capital Inc., is identified in a customer initiated investment related FINRA securities arbitration claim in which the customer requested compensatory damages supported by accusations that Sloane provided unsuitable investment recommendations regarding government debt investments when he was employed by WestPark Capital. Financial…
Yann C. Faho (also known as Jann C. Faho and as John Faho), of New York, New York, a stockbroker currently registered with Aegis Capital Corp, is the subject of a customer initiated investment related FINRA securities arbitration claim where the customer sought $180,000.00 in damages based upon allegations of unsuitable trading by Faho which…
Jamal Hiram Sampson (also known as Jay Sampson), of Red Bank, New Jersey, a stockbroker formerly registered with First Standard Financial Company, is the subject of a customer initiated investment related FINRA securities arbitration claim in which the customer requested $146,599.00 in damages founded on accusations of excessive turnover and commissions because of Sampson’s stock…
Keith Lawton James Connolly, of Melville, New York, a stockbroker formerly registered with Aegis Capital Corp, is referenced in a customer initiated investment related FINRA securities arbitration claim which was resolved for $45,000.00 in damages based upon allegations of unsuitable trading by Connolly during the period that he was registered with Aegis Capital Corp. Financial…
Sebastian Wyczawski of Manorville New York a stockbroker formerly registered with Joseph Stone Capital LLC has been fined $5,000.00 and suspended for five months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that Wyczawski made unsuitable recommendations to customers while he was associated with Joseph Stone Capital….
Michael James May of Mineola New York a stockbroker formerly registered with Joseph Stone Capital LLC has been fined $5,000.00 and suspended for three months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings of his excessive and unsuitable trades in customer accounts. Letter of Acceptance Waiver and…
Leonard Joseph Marzocco (also known as Lenny Marzocco and Len Marzocco) of Nesconset New York a stockbroker formerly registered with Woodstock Financial Group has been fined $5,000.00 and suspended for three months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings that Marzocco made unsuitable recommendations to a…
Scott Neil Hananel of Melville New York a stockbroker formerly registered with Aegis Capital Corp is referenced in a customer initiated investment related FINRA securities arbitration claim in which the customer requested compensatory damages founded upon accusations that Hananel executed unsuitable securities transactions during the time that he was associated with Aegis Capital Corp. Financial…
Jason Andrew Wilk (also known as Jason Andrew Wilks) of New York New York a stockbroker formerly registered with Worden Capital Management LLC has been charged by Financial Industry Regulatory Authority (FINRA) with failing to comply with an investigation into accusations of his excessive trading in customer accounts when he was registered with Worden Capital…
Stephen James Sullivan (also known as Stephen Sullivan) of New York New York a stockbroker formerly registered with Newbridge Securities Corporation is referenced in a Financial Industry Regulatory Authority (FINRA) investigation in which he might face disciplinary action from the regulator based on allegations of defrauding customers by churning their accounts and making excessive trades….
Kim Marie Monchik (also known as Kim Marie Amendola) of New York New York a stockbroker currently registered with Spartan Capital Securities LLC is the subject of a Financial Industry Regulatory Authority (FINRA) investigation in which FINRA believes that Monchik should face disciplinary action based on potential violations of its rules relating to customer disputes….
Thomas Boley Hunt of Twin Falls Idaho a stockbroker currently registered with Wells Fargo Advisors is the subject of a customer initiated investment related written complaint which was resolved for $20,000.00 in damages on July 22, 2020 supported by allegations that Hunt’s transactions at Wells Fargo Advisors were not suitable for the customer. Hunt has…
Blake H. Kiernan of Melville New York a stockbroker registered with Four Points Capital Partners LLC has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded upon allegations that Kiernan did not comply with a FINRA Arbitration Award in which he was required to pay a customer $69,250.00…
James Edward Lyons of Shreveport Louisiana a stockbroker formerly registered with Raymond James Associates Inc. is the subject of a customer initiated investment related FINRA securities arbitration claim where the customer sought $1,000,000.00 in damages founded on allegations of Lyons’ unsuitable trading of sector-specific investments and direct investments while he was associated with Raymond James…
David Khezri of Melville New York a stockbroker formerly registered with Worden Capital Management and Network 1 Financial Securities Inc. is the subject of a Financial Industry Regulatory Authority (FINRA) investigation in which the regulator recommended that Khezri face disciplinary action for possible violations of FINRA rules and securities laws pertaining to excessive and unsuitable…
Donald Joseph Fowler of Rockville Center New York a stockbroker formerly registered with Worden Capital Management LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that Fowler churned and excessively traded the accounts of four of his customers. Letter of Acceptance Waiver and Consent…
Douglas Anthony Leone of Melville New York a stockbroker formerly registered with Salomon Whitney Financial and Newport Coast Securities has been fined $185,000.00 and barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity according to a Securities and Exchange Commission Opinion in which SEC affirmed a FINRA National Adjudicatory Council’s…
Sonia Balfour-Fears (also known as Sonia Delores Balfour and as Sonia D. Fears) of Atlanta Georgia a stockbroker formerly registered with Merrill Lynch Pierce Fenner Smith Incorporated is the subject of a customer initiated investment related FINRA securities arbitration claim where the customer sought compensatory damages founded on accusations that Balfour-Fears made misrepresentations to the…
David John Strnad of Franklin Tennessee a stockbroker formerly registered with Morgan Stanley has been suspended as a stockbroker between July 1, 2019 and December 31, 2020 by Florida Office of Financial Regulation based upon Strnad being sanctioned by Financial Industry Regulatory Authority (FINRA) for unauthorized trading. Case No. 249967-19-AG. FINRA Public Disclosure shows that…
Wilfredo Felix Jr. of New York New York the Chief Executive Officer and Chief Financial Officer at Primex Prime Electronic Execution Inc. (Primex) has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings that he failed to comply with FINRA while investigated regarding the securities broker…
Henry Bones II of New York New York a stockbroker formerly registered with Worden Capital Management has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any principal capacity based upon findings that Bones failed to supervise a Worden Capital Management stockbroker who made unsuitable investment recommendations to…
Daniel James O’Neill (also known as Dan O’Neill) of Melville New York a stockbroker formerly registered with Aegis Capital Corp. has been charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement in a Complaint alleging that O’Neill executed unsuitable trades and engaged in excessive trading at Aegis Capital Corp. Department of Enforcement v. Daniel…
Jeffrey Allen Baber of Red Bank New Jersey a stockbroker formerly registered with First Standard Financial Company LLC is referenced in a customer initiated investment related FINRA securities arbitration claim in which the customer requested $95,000.00 in damages founded on accusations of unsuitable transactions being effected in the customer’s account and First Standard Financial Company…
Roy Joseph Failla of Red Bank New Jersey a stockbroker formerly registered with First Standard Financial Company LLC has been fined $15,000.00 and suspended for 45 days from being a stockbroker in New Jersey according to a Consent Order containing findings that Failla executed unsuitable and excessive trades in customer accounts while Failla was associated…
Kishan Parikh (also known as Sean Parikh) of New York New York a stockbroker formerly registered with Aegis Capital Corp has been fined $10,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based on findings of Parikh’s excessive and unsuitable trading in customer accounts resulting in losses. Department…
Douglas Edward Szempruch of Melville New York a stockbroker formerly registered with Aegis Capital Corp has been suspended for twelve months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that he excessively traded in customer accounts at Aegis Capital Corp and made misleading statements to customers relating…
William Nicholas Athas of Melville New York a stockbroker formerly registered with Worden Capital Management is the subject of a Financial Industry Regulatory Authority (FINRA) investigation in which the regulator has determined that Department of Enforcement should pursue disciplinary action against Athas for potentially churning investor accounts and for making unsuitable investment recommendations. Case No….
Andre Pierre Davis of Red Bank New Jersey a stockbroker formerly registered with First Standard Financial Company LLC has been issued a Summary Revocation and Penalty Order by New Jersey Bureau of Securities in which his stockbroker registration has been revoked and he has been fined $1,000,000.00 based upon findings of Davis making unsuitable and…
Adam Gerard Belardino of Elmsford New York a stockbroker formerly registered with MML Investors Services has been charged by Financial Industry Regulatory Authority (FINRA) with failing to cooperate with an investigation in which he was being examined for possible excessive trading in customer accounts. Department of Enforcement v. Adam Gerald Belardino Disciplinary Proceeding No. 2019062347102…
Carl George Antaki of Syosset New York a stockbroker formerly registered with First Standard Financial Company LLC has been fined $5,000.00 and suspended for three months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that he made unsuitable investment recommendations in a customer’s account. Letter of Acceptance…
PHILADELPHIA (May 27, 2021). The Guiliano Law Group is pleased to announce that a FINRA Securties Arbitration Panel, siting in Atlanta, after a series of lengthy hearings last month, rendered an Final Award in the amount of $1,978,713 for our clients in 18-04008 Executed Award. The Award includes interest, costs and attorney’s fees of $328,540,…
Elias Moses Hakimian (also known as Elias Moses Lopez-Hakimian) of Seal Beach California a stockbroker formerly registered with LPL Financial LLC has been fined $5,000.00 and suspended for three months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that he borrowed an LPL Financial customer’s funds in…
Kishan Parikh (also known as Sean Parikh) of New York New York a stockbroker formerly registered with Aegis Capital Corp has been charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement with executing unsuitable, excessive and unauthorized trades in the accounts of Aegis Capital Corp customers. Department of Enforcement v. Kishan Parikh Disciplinary Proceeding…
Jeffrey Neil Cadan of New York New York a stockbroker formerly registered with Morgan Stanley is the subject of a customer initiated investment related FINRA securities arbitration claim in which the customer requested compensatory damages based upon accusations that between July of 2014 and December of 2016, excessive trades had been effected in the customer’s…
Christian Frank Lucchetto of Red Bank New Jersey a stockbroker formerly registered with First Standard Financial Company LLC has been fined $5,000.00 and suspended for three months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that he excessively traded in the account of a First Standard Financial…
Anthony Tricarico of New York New York a stockbroker formerly registered with Aegis Capital Corp has been fined $5,000.00 and suspended for six months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that he made unsuitable trades in customer accounts. Letter of Acceptance Waiver and Consent No….
Worden Capital Management LLC (WCM) and Chief Executive Officer Jaime John Worden have been sanctioned by Financial Industry Regulatory Authority (FINRA) supported by findings that WCM and Jaime Worden failed to supervise the suitability of customer transactions and neglected to ensure the public disclosure of customer initiated investment related FINRA securities arbitration claims alleging sales…
Ezri Shechter (also known as Eddie Shechter) of Jersey City New Jersey a stockbroker registered with Spencer-Winston Securities Corporation is referenced in a Financial Industry Regulatory Authority (FINRA) investigation on June 17, 2020 in which Shechter’s activities with a customer are being reviewed for possible FINRA violations. FINRA Case No. 20190646958. FINRA Public Disclosure confirms…
Steven Robert Luftschein (also known as Steven Lerner) a stockbroker formerly registered with Aegis Capital Corp has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member according to an Order Accepting Offer of Settlement issued by FINRA Office of Hearing Officers who found that Luftschein had churned customers’ accounts and had made…
Solomon David Krispeal (also known as David Krispeal) of Hauppauge New York a stockbroker formerly registered with PHX Financial Inc. is referenced in a customer initiated investment related FINRA securities arbitration claim where the customer requested $650,000.00 in damages supported by allegations of unsuitable options, stock and over-the-counter equities being sold to the customer by…
Ross Adam Barish of Mineola New York a stockbroker currently registered with Joseph Stone Capital LLC has been charged by Securities and Exchange Commission (SEC) with taking part in an excessive trading scheme to defraud investors. Securities and Exchange Commission v. Ross Barish Case No. 1:20-cv-06437 (Aug. 13, 2020). According to the Complaint, while Barish…
Christopher George Orlando of New York New York a stockbroker formerly registered with Spartan Capital Securities LLC is the subject of a FINRA investigation where the regulator recommended for Orlando to face disciplinary action by FINRA Department of Enforcement for allegedly trading on an excessive basis in customer accounts. Case No. 20170564326 (Sept. 18, 2020)….
Peter N. Girgis of New York New York a stockbroker currently registered with SW Financial is referenced in a Financial Industry Regulatory Authority (FINRA) investigation on September 15, 2020 where Girgis may face disciplinary action from FINRA Department of Enforcement based on accusations of unsuitability and excessive trading by the stockbroker. According to FINRA Public…
Anthony Fusco of New York New York a former stockbroker and Chief Executive Officer of Legend Securities Inc. is the subject of a customer initiated investment related FINRA securities arbitration claim in which the customer requested $345,369.00 in damages supported by accusations of Fusco failing to supervise Legend stockbrokers who executed unsuitable transactions in the…
Jonah Engler (also known as Jonah Engler-Silberman) of New York New York a stockbroker formerly registered with Global Arena Capital Corp has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that he failed to pay a customer compensatory damages after being found liable for sales…
Cory David Bataan of Melville New York a stockbroker formerly registered with Aegis Capital Corp is the subject of a customer initiated investment related arbitration claim where the customer requested $200,000.00 in damages based upon accusations that trades were effected in the customer’s account on an excessive and unsuitable basis by Bataan during the time…
Joseph Michael Fedorko Junior of Greenwich Connecticut a stockbroker currently employed by Laidlaw Company (UK) Ltd. is the subject of a customer initiated investment related arbitration claim in which the customer sought $1,700,000.00 in damages based upon allegations of unauthorized and unsuitable trading by Fedorko causing the customer to incur losses on equities and private…
Barry Todd Eisenberg of New York New York a stockbroker and branch manager formerly registered with Alexander Capital LP is the subject of a customer initiated investment related arbitration claim in which the customer requested $606,046.00 in damages based upon allegations that Eisenberg failed to supervise stockbrokers who executed inappropriate stock transactions in at least…
Lawrence Burton Goldstein (also known as Larry Goldstein) of Sparks Nevada a stockbroker formerly registered with McNally Financial Services Corporation has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings that Goldstein obstructed a FINRA investigation into allegations of his potential excessive and unsuitable trading in…
Donatas Belys Vildzius (also known as Donatas Vildzins and as Donatus Vildzins) of Danbury Connecticut a stockbroker formerly employed by Network 1 Financial Securities Inc. has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that Vildzius executed excessive trades in customer accounts…
Christopher Anthony Fernan of Melville New York a stockbroker formerly registered with Salomon Whitney Financial (SW Financial) has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based on findings that he neglected to testify for FINRA during the period that he was under investigation for a customer complaint….
Marc Augustus Reda of New York New York a stockbroker formerly registered with Spartan Capital Securities LLC has been referenced in a Financial Industry Regulatory Authority (FINRA) investigation in which the regulator has made an initial determination for Reda to face disciplinary action supported by accusations of Reda effecting trades in customer accounts on an…
Capital City Securities LLC a securities broker dealer headquartered in Powell Ohio has been censured by Financial Industry Regulatory Authority (FINRA) based upon findings that Capital City failed to supervise the suitability of trades that its stockbrokers effected in customer accounts. Letter of Acceptance Waiver and Consent No. Letter of Acceptance Waiver and Consent No….
Robert Steven Meyer of Holmdel New Jersey a stockbroker formerly registered Monmouth Capital Management (MCM) has been fined $7,500.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings that Meyer effected transactions in customer accounts on an excessive and unsuitable basis. Letter of Acceptance Waiver and…
Alec C. Franks of Red Bank New Jersey a stockbroker formerly registered with First Standard Financial Company LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings that he did not comply with FINRA during the course of its investigation into allegations of his excessive…
Garland Sean James (also known as Gary James) a stockbroker formerly registered with Garden State Securities and Global Arena Capital Corp has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon accusations that he neglected to cooperate with the terms of a FINRA Arbitration Award in which…
Michael Frank Paesano of New York New York a stockbroker formerly employed by Morgan Stanley has been identified in a customer initiated investment related arbitration claim where the customer sought unspecified damages founded on accusations that trades were executed in the customer’s account in excessive amounts between July of 2014 and December of 2016 while…
Integrity Brokerage Services a securities broker dealer headquartered in Indianapolis Indiana, its Chief Executive Officer Joshua Helme, stockbroker Andrea Wood and stockbroker Marc Nathan Jaffe have been charged by Financial Industry Regulatory Authority (FINRA) in a Complaint alleging that Marc Jaffe engaged in securities business at Integrity Brokerage Services while he was disqualified and that…
Yousuf Saljooki (also known as Joseph Saljooki and as Joe Saljooki) a stockbroker formerly registered with SW Financial (Salomon Whitney Financial) is the subject of a customer initiated investment related arbitration claim in which the customer requested $97,292.27 in compensatory damages and unspecified punitive damages based upon allegations that the customer had been defrauded by…
Andrew Vincent LaBarbera of Dix Hills New York a stockbroker formerly employed by Titus Rockefeller LLC has been identified in a customer initiated investment related arbitration claim where the customer sought $23,793.00 in damages founded on accusations that the customer’s account was churned and that a fiduciary duty that was owed to the customer had…
Sam Aziz (also known as Sam Azizieh and as Sam Yehya) of Dublin Ohio a stockbroker formerly registered with Coastal Equities Inc. is the subject of a Ohio Division of Securities Order in which his stockbroker registration has been revoked based upon allegations that (1) Aziz effected trades that were not suitable for a customer…
Peter George Ruggiere of Boca Raton Florida a stockbroker currently registered with Dawson James Securities Inc. is the subject of a customer initiated investment related arbitration claim which was resolved for $10,000.00 in damages based upon accusations of misrepresentations concerning stock purchased for the customer’s account during the time that Ruggiere was associated with Dawson…
Clifford Ronald Reid of New York New York a stockbroker currently employed by Reid Rudiger LLC has been identified in a customer initiated investment related arbitration claim where the customer sought $220,542.00 in damages founded on accusations of false or misleading statements being made to the customer in regard to common and preferred stock and…
Leslie Anne Juron of Sarasota Florida a stockbroker and investment adviser representative of Wells Fargo Clearing Services has been identified in a customer initiated investment related written complaint on July 22, 2019 where the customer sought more than $5,000.00 in damages founded on accusations that the customer had been overcharged by Juron on investments held…
Craig Landon Siegel of New York New York a stockbroker formerly registered with Portfolio Advisors Alliance LLC has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon accusations that Siegel failed to furnish information to FINRA that was requested of him through a formal inquiry. Case No….
Terry Au of New York New York a stockbroker formerly employed by WestPark Capital Inc. has been identified in a customer initiated investment related arbitration claim where the customer sought $125,000.00 in damages founded on accusations that a fiduciary duty that was owed to the customer was breached by Au in regard to the customer’s…
Frank Venturelli (also known as Frank Vaughn) of Bay Ridge New York a stockbroker formerly associated with First Standard Financial Company has been suspended for 11 months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by consenting to findings that he facilitated excessive transactions in customer accounts during the…
Joseph Kelly (also known as Joe Kelly) of New York New York a stockbroker currently associated with Spartan Capital Securities Inc. has been referenced in a customer initiated investment related arbitration claim in which the customer requested $23,695.00 in damages supported by allegations of misrepresentation and bad investment recommendations by Kelly during the period in…
Mark Katz of San Diego California a stockbroker formerly associated with Hilltop Securities Inc. has been referenced in a customer initiated investment related complaint on February 18, 2020 in which the customer requested $357,000.00 in damages supported by allegations of unauthorized and excessive trading in the customer’s account by Katz which caused the Hilltop Securities…
Elliot Hough Sherer of Melville New York a stockbroker currently employed by Aegis Capital Corp. has been identified in a customer initiated investment related arbitration claim where the customer sought $95,596.00 in damages founded on accusations of (1) breach of a fiduciary owed to the customer by Sherer (2) breach of a contract between the…
Steven Robert Luftschein (also known as Steven Lerner) a stockbroker formerly employed by Aegis Capital Corp has been charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement in a Complaint alleging that (1) Luftschein churned the accounts of Aegis Capital Corp customers and that (2) Luftschein defrauded investors. Department of Enforcement v. Steven R….
Terry Tzagarakis (also known as Terry Rakis) of New York New York a stockbroker formerly registered with Spartan Capital Securities LLC is the subject of a customer initiated investment related arbitration claim where the customer sought $6,645,956.00 in damages based upon accusations that (1) unauthorized transactions were effected in the customer’s account (2) stocks selected…
David Weisberg of New York New York a stockbroker formerly registered with Worden Capital Management LLC has been fined $7,500.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he effected unsuitable and excessive trades in the account of a Worden Capital Management…
Zachary William Shapiro (also known as Zak William Shapiro) of Los Angeles California a stockbroker formerly associated with Oppenheimer Co. Inc. has been referenced in a customer initiated investment related arbitration claim in which the customer requested $287,074.00 in damages supported by allegations that (1) the customer’s account had been churned by the stockbroker for…
Gregory Spencer O’Brien of New York New York a stockbroker formerly employed by Aegis Capital Corp has been identified in a customer initiated investment related complaint on April 12, 2019 where the customer sought $153,300.00 in damages founded on accusations that margin was inappropriately utilized to effect securities transactions for the customer’s Aegis Capital Corp…
Gregory Alan Ricker of Boca Raton Florida a stockbroker registered with WestPark Capital Inc. is the subject of a customer initiated investment related complaint which was resolved on September 17, 2019 for $22,500.00 in damages based upon accusations that transactions were unsuitable for the customer and that the customer’s equity portfolio had been churned by…
Mack Leon Miller (also known as Mark Miller) of New York New York a stockbroker registered with Spartan Capital Securities LLC has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he effected excessive trades or churned a customer’s account causing the customer…
Robert John Murray (also known as Bob Murray) of Melville New York a stockbroker associated with SW Financial has been barred by Financial Industry Regulatory Authority (FINRA) from associating with any FINRA member in any capacity supported by allegations that the stockbroker neglected to respond to the regulator’s request for information. FINRA Case No. 2019061942401…
Leonard Joseph Marzocco (also known as Lenny Marzocco) of Garden City New York a stockbroker formerly associated with Spartan Capital Securities has been referenced in an investigation initiated by Financial Industry Regulatory Authority (FINRA) on October 14, 2019 which has led to FINRA’s preliminary determination to recommend that Marzocco face disciplinary action for possibly making…
William Christian Gennity (also known as Billy Gennity) of Staten Island New York a stockbroker formerly registered with First Standard Financial Company LLC has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon accusations that the stockbroker failed to comply with a FINRA Arbitration Award in which…
Christopher Joseph Marnelego of Staten Island New York a stockbroker formerly registered with First Standard Financial has been barred by Financial Industry Regulatory Authority (FINRA) from associating with any FINRA member in any capacity based upon allegations that the stockbroker neglected to respond to the regulator’s request for information. FINRA Case No. 2016047624301 (Mar. 1,…
Halil Kozi (also known as Hal Kozi) of New York New York a stockbroker formerly registered with PHX Financial Inc. has been suspended for two years from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity according to an Office of Hearing Officers Order Accepting Offer of Settlement containing findings that the…
Joseph Morris Thurnherr of New York New York a stockbroker formerly registered with Wynston Hill Capital LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Thurnherr failed to furnish information to FINRA personnel when a customer’s complaint alleging Thurnherr’s misconduct was…
Scott Douglas Williams of Franklin Tennessee a stockbroker formerly employed by LPL Financial has been identified in a customer initiated investment related arbitration claim which has been resolved for $61,050.00 in damages founded on accusations that the customer’s account had been churned and that unsuitable penny stocks and equities were traded in the customer’s LPL…
Thomas Cameron Oakes of Grand Rapids Michigan a stockbroker associated with Royal Securities Company has been suspended by Financial Industry Regulatory Authority (FINRA) from associating with any member in any capacity supported by allegations of Oakes’ failure to confirm with the regulator whether he complied with a customer initiated investment related arbitration award. FINRA Case…
Mirsad A. Muharemovic (also known as Mirso Muharemovic) of Brooklyn New York a stockbroker currently registered with Arive Capital Markets is the subject of a customer initiated investment related arbitration claim where the customer sought $307,042.00 in damages based upon accusations that stock trades effected by Muharemovic were not suitable for the customer and that…
Andre Pierre Davis of Red Bank New Jersey a stockbroker formerly registered with First Standard Financial Company LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he failed to cooperate with FINRA during an investigation in which the regulator sought to…
Douglas Anthony Leone of Melville New York a stockbroker associated with SW Financial has been referenced in a customer initiated investment related arbitration claim in which the customer requested $250,000.00 in damages supported by allegations that (1) transactions effected in the customer’s account were not suitable (2) contractual and fiduciary obligations were violated (3) misleading…
Steven John Meyer of Staten Island New York a stockbroker formerly associated with Legend Securities Inc. has been referenced in a customer initiated investment related arbitration claim in which the customer was awarded $110,622.95 in compensatory damages supported by Meyer and Legend Securities being found liable on the customer’s claims which included that (1) transactions…
Shawn Evan Burns of Farmingdale New York a stockbroker associated with SW Financial (also known as Salomon Whitney Financial) has been referenced in a customer initiated investment related arbitration claim which was settled for $12,000.00 in damages supported by allegations that (1) stocks and over the counter equities were traded in the customer’s account by…
Robert Frank Spiegel of Staten Island New York a stockbroker formerly registered with First Standard Financial Company LLC has been fined $5,000.00 and suspended for six months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that trades had been made by him on an excessive…
Kevin Kimball Meadows of Columbus Georgia a stockbroker formerly employed by Cape Securities Inc. has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that Meadows executed unsuitable and excessively traded or churned the account of an elderly Cape Securities customer. Letter of Acceptance Waiver and…
Wells Fargo Advisors LLC (now known as Wells Fargo Clearing Services LLC) a securities broker dealer headquartered in Saint Louis Missouri has been censured and fined $175,000.00 by Financial Industry Regulatory Authority (FINRA) based upon consenting to findings that it failed to supervise a stockbroker who effected excessive trades in an elderly customer’s investment account….
Robert Francis Stefanelli of New York New York a stockbroker currently associated with Alexander Capital LP has been referenced in a customer initiated investment related arbitration claim which has been settled for $14,900.00 in damages supported by allegations that (1) common and preferred stock transactions that were facilitated in the customer’s account by the stockbroker…
Randy T. Carpen (also known as Ramsey Carpen) of Saint Louis Missouri a stockbroker formerly registered with Vestech Securities Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings he failed to comply with FINRA during an investigation into allegations of his excessive…
William Dean Byrd of Tampa Florida a stockbroker formerly employed by Transamerica Financial Advisors Inc. is referenced in a customer initiated investment related arbitration claim where the customer sought $300,000.00 in damages founded on accusations that (1) trades were made solely to generate commissions from the customer (2) the customer’s account was over concentrated by…
Walter Roland Valenzuela of Del Mar California a stockbroker currently registered with Hilltop Securities Inc. is referenced in a customer initiated investment related complaint which was settled on November 1, 2018 for $100,000.00 in damages founded on accusations that (1) unit investment trust trades were made in the customer’s account on an excessive basis (2)…
Peter George Ruggiere of Boca Raton Florida a stockbroker currently registered with Dawson James Securities Inc. is referenced in a customer initiated investment related arbitration claim in which the customer requested $80,013.13 in damages supported by accusations that (1) excessive stock trades were effected in the customer’s account (2) risks or other details of Ruggiere’s…
Michael Frank Vetere of Bayside New York a stockbroker formerly registered with TFS Securities Inc. and Ameritas Investment Corp. is the subject of a customer initiated investment related arbitration claim in which the customer sought $1,000,000.00 in damages based upon accusations that (1) the customer’s mutual fund holdings were churned by the stockbroker (2) life…
Christopher Duke Bennett of Louisville Kentucky a stockbroker formerly employed by J.J.B. Hilliard W.L. Lyons LLC is the subject of a customer initiated investment related arbitration claim in which the customer sought $65,000.00 in damages supported by allegations that (1) the customer’s account was churned (2) unauthorized trades were executed by the stockbroker (3) investment…
Jorge Luis Alfonso of Palm Beach Gardens Florida a stockbroker formerly registered with Deutsche Bank Securities Inc. is referenced in a customer initiated investment related arbitration claim where the customer requested more than $5,000.00 in damages founded on allegations that (1) the customer had been placed into speculative and inappropriate stocks given the customer’s objectives…
Roy Joseph Failla of Red Bank New Jersey a stockbroker formerly registered with First Standard Financial Company LLC is the subject of a customer initiated investment related arbitration claim in which the customer sought $26,000.00 in damages based upon allegations that (1) common and preferred stock trades effected by Failla failed to be suitable (2)…
Baris Cabalar (also known as Barry Calabar) of Hauppauge New York New York a stockbroker currently employed by PHX Financial Inc. is referenced in a customer initiated investment related written complaint which was settled for $185,000.00 in damages on April 10, 2019 supported by allegations that between November 5, 2018 and February 27, 2019: (1)…
Dennis Masaaki Nakamura of Moraga California a stockbroker formerly registered with McNally Financial Services Corporation has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that Nakamura neglected to follow FINRA’s instructions while he was under investigation for providing bad investment advice to customers of the…
Zachary Samuel Berkey of Melville New York a stockbroker formerly registered with Four Points Capital Partners LLC has been barred by Securities and Exchange Commission (SEC) from being a stockbroker or investment advisor or otherwise associating with securities broker dealers or investment advisories according to an SEC Order supported by allegations that Berkey: (1) executed…
Richard William Rokala Jr. of Minneapolis Minnesota a stockbroker formerly registered with Dougherty Company LLC is the subject of a customer initiated investment related arbitration claim which was resolved for $45,000.00 in damages based upon allegations that (1) the customer’s account was administered negligently (2) unauthorized trades were executed by the stockbroker (3) stock and…
Donald Joseph Fowler of Rockville Center New York a stockbroker formerly employed by Worden Capital Management LLC and J.D. Nicholas Associates Inc. was found liable by a jury for engaging in a fraudulent investment scheme which involved Fowler’s excessive trading of customer accounts causing catastrophic losses for his customers. Securities and Exchange Commission v. Donald…
Amy Kathryn Forte and Charles Joseph Lawrence both of Palm Harbor Florida and stockbrokers formerly employed by Morgan Stanley have been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that (1) a customer’s account had been traded excessively and churned by Lawrence while at Morgan Stanley…
Roxann Geraldine Romano (also known as Roxann Geraldine Davanzo) of New York New York a stockbroker currently employed by Morgan Stanley is the subject of a customer initiated investment related arbitration claim where the customer sought $1,755,896.00 in damages based upon accusations that Romano gave the customer bad investment advice concerning the purchase of variable…
Stuart Blake Nichols of Birmingham Alabama a stockbroker formerly registered with Raymond James Associates Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Nichols failed to make an appearance before FINRA personnel and testify regarding accusations of his excessive trading in…
Sam Azizieh (also known as Sam Aziz and as Sam Yehya) a stockbroker formerly registered with Wells Fargo Advisors Financial Network LLC is the subject of a customer initiated investment related written complaint on June 27, 2019 where the customer sought $447,000.00 in damages supported by accusations that during the period in which Azizieh was…
Andre Pierre Davis of New York New York a stockbroker formerly registered with First Standard Financial Company LLC is the subject of a customer initiated investment related arbitration claim in which the customer requested $350,000.00 in damages founded on accusations that (1) transactions were not authorized (2) investments were neither appropriate nor suitable for the…
Daniel Gordon Maughan (also known as Dan G. Maughan) of Los Angeles California a stockbroker formerly registered with Financial West Group has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity according to an Office of Hearing Officers Order Accepting Offer of Settlement that contained findings of Maughan having…
Joseph Patrick Fuller of New York New York a stockbroker formerly registered with Spartan Capital Securities is the subject of a customer initiated investment related arbitration claim in which the customer requested $6,645,956.00 in damages based upon accusations that (1) fiduciary duties owed to the customer had been breached (2) misrepresentations were made by the…
Halil Kozi (also known as Hal Kozi) of New York New York a stockbroker, options trader and supervisor formerly registered with PHX Financial Inc. has been charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement in a Complaint alleging that (1) Kozi recommended bad trades to a customer of PHX and (2) Kozi churned…
Charles Ernest Kenahan of Boston Massachusetts a stockbroker formerly registered with Merrill Lynch Pierce Fenner Smith Incorporated has been discharged by the securities broker dealer on July 9, 2019 supported by accusations that (1) unauthorized trades were executed in a customer’s account by Kenahan (2) investment recommendations made by the stockbroker failed to be suitable…
James Robert Pecoraro of Melville New York a stockbroker currently employed by SW Financial is referenced in a customer initiated investment related arbitration claim which was resolved for $36,000.00 in damages based upon allegations that Pecoraro (1) misrepresented information concerning the customer’s equity transactions (2) effected unauthorized trades (3) breached his fiduciary duty to the…
Paul William Lascelle of Flemington New Jersey a stockbroker formerly registered with Morgan Stanley Smith Barney is the subject of a customer initiated investment related arbitration claim which was resolved for $45,000.00 in damages supported by accusations that unit investment trust, stock and mutual fund trades had been executed in the customer’s account in excessive…
Jeffrey Sean Crystal of Paramus New Jersey a former stockbroker and branch manager of Morgan Stanley is referenced in a customer initiated investment related arbitration claim which was settled for $2,193,015.00 in damages founded on allegations that the financial advisor mismanaged the customer’s account; and trades executed in the customer’s account were not supervised by…
Patrick John McLaughlin of Boca Raton Florida a stockbroker currently registered with Stifel Nicolaus Company Inc. is the subject of a customer initiated investment related arbitration claim where the customer sought $300,000.00 in damages based upon accusations that (1) stock trades were executed on an excessive basis and (2) unauthorized over-the-counter equities transactions were effected…
Randy T. Carpen of Saint Louis Missouri a stockbroker formerly employed by Vestech Securities Inc. and Freedom Investors Corp. is referenced in a customer initiated investment related arbitration claim where the customer sought $300,000.00 in damages founded on allegations that (1) trades were executed on an excessive basis (2) transactions lacked authorization and (2) stocks…
Stephen Giannantonio (also known as Steve Gannantaonio) of New York New York a stockbroker currently registered with Aegis Capital Corp is the subject of a customer initiated investment related arbitration claim where the customer requested $304,000.00 in damages based upon accusations that (1) the customer’s account was churned (2) contractual obligations had been breached (3)…
Marc Augustus Reda of New York New York a stockbroker currently registered with Spartan Capital Securities LLC is referenced in a customer initiated investment related arbitration claim in which the customer was awarded $15,381.00 in damages based upon Spartan Capital Securities being found liable on the customer’s claims including churning of the customer’s account by…
Jason Harris Klabal of New York New York a stockbroker formerly employed by Legend Securities Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that Klabal neglected to cooperate with a FINRA inquiry which may have concerned customer disputes that were filed by customers…
Michael Christopher Venturino of Garden City New York a stockbroker formerly registered with Aegis Capital Corp is the subject of a customer initiated investment related arbitration claim which was settled for $300,668.16 in damages based upon accusations that (1) investment recommendations made to the customer failed to be suitable (2) unauthorized trades were effected in…
Gregory Thomas Dean of Rockville Centre New York a stockbroker employed by Worden Capital Management LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that (1) Dean churned a customer’s investment account and (2) Dean made unsuitable and excessive trades in customer accounts. Letter…
Daniel Gordon Maughan of Los Angeles California a stockbroker registered with Financial West Group has been charged in a Complaint brought by Financial Industry Regulatory Authority (FINRA) Department of Enforcement alleging that (1) Maughan churned a customer’s investment account and (2) Maughan made unsuitable trades while he was employed by Financial West Group. Department of…
Rocco Roveccio of Staten Island New York a stockbroker registered with Alexander Capital L.P. has been barred from being a stockbroker or investment adviser or otherwise associating with any securities broker dealers or investment advisories according to a Securities and Exchange Commission (SEC) Order Instituting Administrative Proceedings supported by allegations that (1) Roveccio effected unauthorized…
Timothy David Ballard (also known as Tim Ballard) of Danville California a stockbroker employed by National Planning Corporation is referenced in a customer initiated investment related arbitration claim where the customer sought more than $100,000.00 in damages supported by allegations that (1) the customer’s account was handled in a negligent manner (2) fiduciary obligations were…
Mason Wayne Gann of Dallas Texas a stockbroker employed by Berthel Fisher Company Financial Services Inc. is referenced in a customer initiated investment related arbitration claim which was settled for $40,000.00 in damages on January 22, 2019 supported by accusations that (1) Gann churned the customer’s investment portfolio (2) Gann executed unauthorized trades in the…
Joseph Michael Fedorko Jr. of Greenwich Connecticut a stockbroker currently registered with Laidlaw Company is the subject of a customer initiated investment related arbitration claim where the customer sought $342,000.00 in damages based upon accusations that between 2012 and 2017: (1) unauthorized common and preferred stock and over-the-counter equities trades were executed in the customer’s…
Stephen James Sullivan of New York New York a stockbroker employed by Newbridge Securities Corporation is referenced in a customer initiated investment related arbitration claim in which the customer sought $540,618.00 in damages founded on allegations that (1) trades had been executed in the customer’s account in excessive amounts (2) transactions were not suitable for…
Richard James Coleman (also known as Rich Coleman and as Rick Coleman) a stockbroker registered with SW Financial has been fined $15,000.00 and suspended for two years from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that (1) Coleman traded in customer accounts in excessive amounts and (2)…
Luigi Edward Mancusi (also known as Lou Mancusi) of Lake Forrest Illinois a stockbroker formerly registered with Oppenheimer Co. Inc. is the subject of a customer initiated investment related arbitration claim which was resolved for $25,000.00 in damages based upon accusations that (1) Mancusi churned the customer’s account (2) Mancusi executed unauthorized trades and (3)…
Daniel Terry Fischer of New York New York a stockbroker formerly employed by Four Points Capital Partners has been barred from being a stockbroker or investment adviser as well as associating with securities broker dealers or investment advisories according to a Securities and Exchange Commission (SEC) Order Instituting Administrative Proceedings pursuant to Securities Exchange Act…
Lance R. Shaw of Wynnewood Pennsylvania a stockbroker formerly employed by LPL Financial LLC is the subject of a customer initiated investment related arbitration claim which settled for $65,000.00 in damages founded on accusations that (1) unauthorized trades were executed in the customer’s account (2) trades were effected in an excessive manner (3) misrepresentations had…
Brian Gregory DiJulio of Bellevue Washington a stockbroker formerly registered with NBC Securities Inc. has been fined $7,500.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that (1) DiJulio executed unauthorized trades in customer accounts while employed by NBC Securities Inc. and (2)…
Andre Vincent LaBarbera of Dix Hills New York a stockbroker formerly registered with Titus Rockefeller LLC has been barred by Florida Office of Financial Regulation based upon findings that (1) LaBarbera churned customer accounts to generate commissions (2) LaBarbera effected trades that failed to be suitable for customers given their investment profiles (3) LaBarbera utilized…
Dean John Kajouras of New York New York a stockbroker formerly registered with Spartan Capital Securities LLC is referenced in a Consent Order issued by the State of Massachusetts Securities Division which required Kajouras to cease and desist from making unsuitable recommendations or engaging in other conduct violative of Massachusetts Securities Laws and required Kajouras…
Ahmad Wares (also known as Kevin Wares) of Melville New York a stockbroker formerly registered with Salomon Whitney Financial is the subject of a customer initiated investment related arbitration claim in which the customer requested $195,132.00 in damages based upon allegations that (1) Wares breached his contractual obligations to the customer (2) Wares executed unauthorized…
Robert Estevez of Greenwich Connecticut a stockbroker formerly registered with Investors Capital Corp. is referenced in a customer initiated investment related arbitration claim which was resolved for $400,000.00 in damages founded on allegations that (1) misrepresentations had been made to the customer by Estevez concerning the customer’s equity investments (2) stock trades placed by Estevez…
David Wilson Fleming Jr. of White Plains New York a stockbroker formerly registered with Stifel Nicolaus Company Incorporated has been fined $5,000.00 and suspended for three months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Fleming inappropriately borrowed money from a Stifel Nicolaus customer…
Michael Frank Paesano of New York New York a stockbroker formerly registered with Morgan Stanley is referenced in a customer initiated investment related arbitration claim which settled for $145,000.00 in damages supported by allegations that (1) government debt trades were effected in the customer’s managed account in excessive amounts and (2) some of the customer’s…
Robert Juan Escobio of Miami Florida a stockbroker formerly registered with Southern Trust Securities Inc. has been charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement in a Complaint alleging that Escobio failed to cooperate with a FINRA investigation into accusations that Escobio associated with a FINRA member securities broker dealer during a period…
Summit Brokerage Services Inc. a securities broker dealer headquartered in Boca Raton Florida has been censured and fined $325,000.00 by Financial industry Regulatory Authority (FINRA) based upon findings that (1) Summit Brokerage Services neglected to supervise its stockbrokers’ recommendations for purposes of ensuring that the stockbrokers’ trades were suitable for customers of the firm and…
William Mark Heiden of Newport Beach California a stockbroker formerly registered with Wedbush Securities Inc. has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity according to an Office of Hearing Officers Order Accepting Offer of Settlement containing findings that Heiden executed unauthorized trades in accounts…
Joseph Louis Derrico of Staten Island New York a stockbroker formerly employed by Woodstock Financial Group has been fined $5,000.00 and required to pay $101,324.39 in restitution according to a State of Montana Securities Division Order based on accusations of (1) excessive and unauthorized equity trades being effected by Derrico in accounts of Woodstock Financial…
Bernard Thomas Weber of Minnetonka Minnesota a stockbroker formerly registered with Feltl Company is referenced in a customer initiated investment related written complaint which settled for $120,000.00 on November 21, 2017 based upon allegations that in connection with the customer’s purchase and holding of over-the-counter equities including penny stocks: (1) misrepresentations had been made by…
Michael Anthony Valdini of Garden City New York a stockbroker currently registered with Worden Capital Management LLC is the subject of a customer initiated investment related arbitration claim in which the customer requested $2,115,095.00 in damages supported by accusations that (1) unauthorized transactions were effected in the customer’s account (2) transactions executed in the customer’s…
Matthew Angelo Siliato of New York New York a stockbroker formerly registered with Meyers Associates LP (a firm later known as Windsor Street Capital) is the subject of a customer initiated investment related arbitration claim which was settled for $14,999.00 in damages based upon accusations that while Siliato was employed by Meyers Associates LP, bad…
Rand Alan Heckler of Glen Cove New York a stockbroker formerly registered with Benjamin Jerold Brokerage I LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Heckler failed to cooperate with a FINRA investigation into allegations of (1) Heckler misappropriating funds…
William Gregory Barker of Tallahassee Florida a stockbroker formerly registered with Ameriprise Financial Services is the subject of a customer initiated investment related written complaint which had been resolved for $46,000.00 on May 23, 2019 supported by accusations that: (1) unit investment trust and equity transactions executed in the customer’s account were inappropriate for the…
Steven Michael Roffman of Jacksonville Florida a stockbroker formerly registered with Ameriprise Financial Services Inc. has been fined $7,500.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that (1) Roffman effected transactions in a customer’s account without the customer’s permission and (2) Roffman solicited customer…
Matthew J. Giannone of Melville New York a stockbroker formerly registered with Oppenheimer Co. Inc. is the subject of a customer initiated investment related arbitration claim which was resolved for $45,000.00 in damages founded on allegations that (1) misrepresentations had been made to the customer (2) the customer’s account was mishandled (3) contractual obligations to…
Jovannie Aquino (also known as John Aquino) a stockbroker formerly registered with Meyers Associates LP (also known as Windsor Street Capital LP) has been barred by Securities and Exchange Commission (SEC) from being a securities broker or investment advisor or otherwise associating with any securities broker dealers or investment advisories according to an Order Instituting…
Christopher Frederic Veale (also known as Chris Veale) of New York New York a stockbroker formerly registered with Legend Securities Inc. is referenced in a customer initiated investment related arbitration claim where the customer sought $150,000.00 in compensatory and punitive damages supported by accusations that (1) Veale churned the customer’s investment account (2) Veale charged…
Ronald Ray Willoughby Jr. (also known as Ron Willoughby) of Tempe Arizona a stockbroker formerly registered with Morgan Stanley has been fined $5,000.00 and suspended for three months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on allegations of Willoughby making bad short-term unit investment trades in accounts of…
Charles John Obryant III of Raleigh North Carolina a stockbroker formerly registered with Stifel Nicholas Co. Inc. is the subject of a customer initiated investment related arbitration claim which was settled for $330,000.00 in damages founded on accusations that (1) stock trades effected in the customer’s account failed to be suitable for the customer given…
Richard Edward Bohack of Global Arena Capital Corp has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that Bohack failed to comply with his obligation to pay compensatory damages to a customer who prevailed in a claim containing allegations that Bohack gave bad advice and…
William Jeffrey Carlton of Vienna Virginia a stockbroker currently employed by UBS Financial Services Inc. is referenced in a customer initiated investment related complaint which was resolved for $657,998.24 in damages on May 24, 2017 founded on allegations that between January 4, 2016 and February 23, 2017: (1) excessive exchange traded fund trades were executed…
David K. Mallett of Conway Arizona a stockbroker formerly registered with Wunderlich Securities Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by allegations that Mallett disregarded a FINRA inquiry possibly concerning Mallett being discharged from Wunderlich Securities Inc. or Mallett being subject of customer initiated…
Gabriel Block (also known as Gabe Block) of Red Bank New Jersey a stockbroker formerly registered with First Standard Financial has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by allegations that Block neglected to cooperate with an inquiry FINRA launched into Block’s activities. Case No. 2017052466301…
Gregory Thormann Pease of Hoboken New Jersey a stockbroker formerly employed by International Assets Advisory LLC is referenced in a customer initiated investment related complaint on April 3, 2019 in which the customer requested unspecified damages supported by accusations that (1) the customer was not provided adequate information from Pease concerning the fees charged on…
Michel Rene Lavelanet (also known as Michael Rene Lavelanet) of Garden City New York a stockbroker formerly employed by Woodstock Financial Group Inc. is referenced in a customer initiated investment related arbitration claim where the customer sought $699,000.00 in damages based upon accusations that (1) the customer’s account was mishandled by Lavelanet (2) contractual obligations…
Bryan Gabriel Mazliach of Fort Lauderdale Florida a stockbroker formerly employed by Laidlaw Company UK Ltd. is referenced in a customer initiated investment related arbitration claim where the customer sought $66,680.00 in damages founded on allegations that between 2015 and 2017: (1) transactions were executed in the customer’s account that were not suitable for the…
Steven Michael Richardson of Walnut Creek California a stockbroker formerly employed by Merrill Lynch Pierce Fenner Smith Inc. is referenced in a customer initiated investment related written complaint on April 11, 2019 in which the customer requested unspecified damages based upon accusations that between January 1, 2018 and June 7, 2018, excessive exchange traded fund…
Wayne Fitzgerald Ford of Farmingdale New York a stockbroker formerly registered with Salomon Whitney Financial is referenced in a customer initiated investment related arbitration claim which was settled for $17,000.00 in damages based upon accusations that (1) transactions effected in the customer’s account violated Louisiana Securities Act (2) fiduciary duties to the customer had been…
Judith Sally Levine of Adventura Florida a stockbroker currently employed by Lantern Investments Inc. is the subject of a customer initiated investment related arbitration claim which was resolved for $32,500.00 in damages supported by allegations that between September of 2012 and November of 2016: (1) the customer’s account was handled in a negligent manner (2)…
James Edward Bashaw of Houston Texas a stockbroker formerly employed by LPL Financial LLC has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Bashaw engaged in impermissible customer loan arrangements while associated with LPL Financial. Letter of Acceptance Waiver and Consent No….
James Bradley Schwartz (also known as Jim Schwartz) of Melville New York a stockbroker formerly employed by Aegis Capital Corp has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity according to an Order Accepting Offer of Settlement containing findings that (1) Schwartz executed trades in the customer’s account…
Patrick Jude Esparrago of New York New York a stockbroker formerly registered with Oppenheimer Co. Inc. is referenced in a customer initiated investment related written complaint on February 17, 2017 in which the customer sought damages estimated to exceed $5,000.00 founded on accusations that between June of 2014 and December of 2015: (1) the customer…
Matthew Stern Buchsbaum of New York New York a stockbroker currently registered with UBS Financial Services Inc. is the subject of a customer initiated investment related arbitration claim where the customer sought $1,000,00.00 in damages based upon accusations that between March of 2017 and March of 2019: (1) misrepresentations had been made to the customer…
James Samuel Mewhinney III of Dallas Texas a stockbroker formerly registered with Morgan Stanley is the subject of a customer initiated investment related written complaint on November 19, 2018 in which the customer requested $550,000.00 in damages based upon accusations that while Mewhinney was associated with Morgan Stanley: (1) Mewhinney effected trades in the customer’s…
Nicholas Sabellico of Fort Lauderdale Florida a stockbroker formerly registered with Laidlaw Company (UK) Ltd. is the subject of a customer initiated investment related arbitration claim in which the customer requested $25,413.00 in damages supported by accusations that between 2015 and 2017: (1) transactions executed in the customer’s account were in no way appropriate for…
Bassam S. Salem of Birmingham Michigan a stockbroker formerly registered with Wunderlich Securities Inc. is the subject of a customer initiated investment related arbitration claim that settled for $50,000.00 supported by accusations that between January of 2011 and February of 2017: (1) poor investment recommendations were made to the customer concerning over the counter equities…
Francine Ann Lanaia (also known as Fran McPherson) a stockbroker formerly employed by Windsor Street Capital LP has been barred from associating with any Financial industry Regulatory Authority (FINRA) member in any capacity based upon accusations that Lanaia failed to provide FINRA with information that had been requested from her. Case No. 2017052475701 (Oct. 29,…
Kenneth Marc Hutkin of New York New York a stockbroker formerly employed by Morgan Stanley Wealth Management has been discharged by the firm on September 24, 2018 based upon accusations that (1) Hutkin engaged in outside business activities without having disclosed them to the firm and (2) Hutkin received compensation for activities that had not…
Halifax America LLC a brokerage firm headquartered in Sherman Oaks California has been censured and fined $60,000.00 by Financial Industry Regulatory Authority (FINRA) based in part on findings that the firm neglected to create and implement supervision systems with a view towards ensuring brokers’ transactions in customer accounts had been properly reviewed by the firm…
William David Nelson of New York New York a stockbroker formerly registered with Meyers Associates L.P. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that Nelson failed to comply with a FINRA investigation into accusations that he effected excessive and unsuitable trades in a…
James Bradley Schwartz (also known as Jim Schwartz) of New York New York a stockbroker formerly registered with Aegis Capital Corp. has been charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement in a Complaint alleging that (1) Schwartz excessively traded and churned customers’ accounts and (2) Schwartz engaged in deceptive and fraudulent activities…
John Dennis Lowry of New York New York the Chief Executive Officer and Managing Member of Spartan Capital Securities LLC is referenced in a customer initiated investment related arbitration claim in which customers were collectively awarded $330,000.00 based upon findings that Lowry and Spartan Capital Securities LLC (1) breached fiduciary duties to the customer (2)…
Accelerated Capital Group a brokerage firm headquartered in California has been censured and fined $400,000.00 by Financial Industry Regulatory Authority (FINRA) founded on accusations that the firm’s brokers: (1) executed unauthorized trades in customer accounts (2) sold customers investments that were not suitable for them and (3) executed trades in customer accounts on an excessive…
Dominic Joseph Linsalata Jr. of Boca Raton Florida a stockbroker formerly registered with Dawson James Securities Inc. is referenced in a customer initiated investment related arbitration claim in which the customer sought $80,013.13 in damages supported by accusations that (1) misrepresentations had been made to the customer concerning equity investments and (2) excessive equity trades…
Brandon Boyd Hanna of Minneapolis Minnesota a stockbroker formerly registered with Oppenheimer Co. Inc. is referenced in a customer initiated investment related written complaint on July 17, 2018 in which the customer sought $350,000.00 in damages founded on accusations that (1) the customer’s account was churned and (2) stock, mutual funds and exchange traded funds…
Gary George Vescio of Palm Beach Gardens Florida a stockbroker formerly registered with Raymond James Associates is the subject of a customer initiated investment related written complaint on May 21, 2016 where the customer sought $62,000.00 in damages supported by allegations that excessive stock trades were effected in the customer’s account while Vescio was employed…
Michael Fasciglione of Mineola New York a stockbroker formerly employed by National Securities Corporation is referenced in a customer initiated investment related arbitration claim which was settled for $467,000.00 in damages supported by allegations that (1) fiduciary duties owed to the customer had been breached and (2) real estate security transactions effected in the customer’s…
Michael Alejandro Castillero of New York New York a stockbroker formerly employed by Alexander Capital has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Castillero failed to testify in a FINRA investigation into accusations of (1) Castillero making unauthorized trades in a…
Thomas John Lisa Jr. of New York New York a stockbroker currently employed by Wilmington Capital Securities LLC has been fined $7,500.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon Lisa’s consent to findings that he engaged in an outside business activity without disclosing it to…
Daniel Patrick Reilly of New York New York a stockbroker formerly employed by Morgan Stanley has been discharged by the firm on May 18, 2018 supported by allegations that Reilly executed trades in a deceased customer’s investment account. Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that Reilly is referenced in two customer initiated investment…
Eric Alan Zakarin of Cranford New Jersey a stockbroker formerly registered with Lombard Securities Incorporated has been terminated by the firm on October 10, 2018 based upon allegations that (1) Zakarin generated excessive commissions from customers and (2) Zakarin executed trades in customer accounts that customers’ possibly had not authorized. This is not the first…
Craig Landon Siegel of New York New York a stockbroker formerly registered with Portfolio Advisors Alliance LLC is the subject of a customer initiated investment related arbitration claim where the customer sought unspecified compensatory damages supported by accusations that between July of 2013 and August of 2017: (1) the customer’s account was churned (2) the…
David Philip Antypas of Brentwood Tennessee a stockbroker formerly registered with LPL Financial LLC is the subject of a Tennessee Department of Commerce and Insurance Securities Division disciplinary action where the regulator is seeking the denial of Antypas’ securities registration based upon accusations that (1) during the time Antypas was associated with LPL Financial LLC…
Christopher Vincent Paul of Mineola New York a stockbroker formerly registered with Joseph Stone Capital L.L.C. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on allegations that Paul failed to comply with FINRA’s request for information potentially relating to Paul’s employment separations after being subject of…
Glenn Eugene Kendall of Tinley Park Illinois a stockbroker formerly registered with Sigma Financial Corporation is the subject of a customer initiated investment related written complaint on August 4, 2016 where the customer requested $40,000.00 in damages based upon allegations that between 2015 and 2016: (1) Kendall excessively traded over-the-counter equities and stocks in the…
Brad Roger Nettune of Summit New Jersey a stockbroker currently registered with Merrill Lynch Pierce Fenner Smith Inc. is the subject of a customer initiated investment related arbitration claim in which the customer sought $6,000,000.00 in damages based upon accusations that (1) the customer’s account was churned and (2) unsuitable over-the-counter equities recommendations were made…
Michael Dennis Jackson of University Place Washington a stockbroker formerly registered with Securities America Inc. has been fined $10,000.00 and suspended for six months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that (1) Jackson engaged in selling away (2) Jackson effected unauthorized trades in…
The Financial Industry Regulatory Authority released its 2018 Examination Report, showing the areas in which the regulator has taken some form of enforcement action against brokerage firms to prevent them from taking advantage of their customers, and to “better protect investors and maintain the integrity of the markets.” The Recommendation of Unsuitable Investments First, on…
Joel Thomas Summerlin of Tampa Florida a stockbroker currently registered with Merrill Lynch Pierce Fenner Smith Inc. is referenced in a customer initiated investment related written complaint which was resolved for $75,000.00 on March 1, 2018 supported by allegations that between June of 2010 and April of 2017: (1) Summerlin made investment recommendations to the…
Alan Walton Sharpe of Burlington Massachusetts a stockbroker formerly employed by RBC Capital Markets LLC is the subject of a customer initiated investment related arbitration claim which settled for $225,000.00 in damages supported by allegations that (1) Sharpe made unsuitable oil and gas equities recommendations to the customer and (2) Sharpe churned the customer’s investment…
Ryan John Lawson of Phoenix Arizona a stockbroker formerly registered with Lawson Financial Corporation is referenced in a customer initiated investment related arbitration claim in which he was ordered to pay the customer $7,500.00 in damages based upon Lawson having been found liable on the customer’s claims that (1) Lawson made misrepresentations and omissions to…
Bruce Michael Sabourin of Norwich Connecticut a stockbroker formerly employed by Cetera Advisors LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that Sabourin failed to provide FINRA with information after it was requested of him. Case No. 2014041373601 (May 4, 2015). FINRA Public…
David Warg Best of Bethlehem Pennsylvania a stockbroker formerly employed by Oppenheimer & Co. Inc. is referenced in a customer initiated investment related complaint on August 18, 2017 where the customer sought $1,000,000.00 in damages supported by accusations that (1) unsuitable closed-end fund and stock transactions had been executed in the customer’s investment account (2)…
Kevin Scott Kellogg of San Diego California a stockbroker currently employed by Ameriprise Financial Services Inc. is the subject of a customer initiated investment related arbitration claim where the customer sought $247,112.52 in damages founded on accusations that (1) fiduciary duties owed to the customer were not abided by (2) unauthorized transactions were placed in…
Kirt Samuel of New York New York a stockbroker formerly employed by National Securities Corporation is the subject of a customer initiated investment related arbitration claim in which the customer requested $5,750,000.00 in damages supported by allegations that (1) unauthorized trades were executed in the customer’s account (2) the customer’s over-the-counter equities portfolio was churned…
Andre Pierre Davis of Red Bank New Jersey a stockbroker currently registered with First Standard Financial Company LLC is the subject of a customer initiated investment related arbitration claim where the customer sought $100,000.00 in damages based upon allegations that unsuitable transactions were executed and the customer’s account was churned. Financial Industry Regulatory Authority (FINRA)…
Cadaret Grant Co. Inc. is a FINRA member broker firm headquartered in Syracuse New York who has been censured and fined $800,000.00 by Financial Industry Regulatory Authority (FINRA) based on consenting to findings that it (1) failed to supervise its business practices with a view towards detecting and preventing bad investment recommendations (2) failed to…
Joseph Lianzo of Melville New York a stockbroker currently registered with SW Financial is referenced in a customer initiated investment related arbitration claim where the customer requested $108,215.00 in damages supported by allegations that (1) contractual obligations to the customer were breached (2) unauthorized trades were executed in the customer’s account (3) the customer’s account…
Gary Needham of Manchester by the Sea Massachusetts a stockbroker formerly registered with LPL Financial LLC is referenced in a customer initiated investment related complaint where the customer sought $433,452.00 in damages on October 3, 2017 founded on accusations that (1) the customer suffered unwarranted poor performance on investments and (2) excessive stock trades were…
Karl Thomas Crytser of Trenton New Jersey a stockbroker formerly registered with National Planning Corporation is referenced in a customer initiated investment related written complaint on August 25, 2015 in which the customer requested $27,000.00 in damages based upon allegations that (1) unsuitable mutual fund trades were effected in the customer’s account (2) transactions were…
Glen David Haddock of Petaluma California the President of Investment Architects Inc. is the subject of a customer initiated investment related arbitration claim in which the customer requested $1,250,000.00 in compensatory damages and $2,500,000.00 in punitive damages supported by allegations that the firm failed to prevent excessive trading in the customer’s account between 2004 and…
Richard Foerster Reynolds of Melville New York a stockbroker currently registered with Worden Capital Management LLC is referenced in a customer initiated investment related complaint which settled for $150,000.00 on May 10, 2018 supported by accusations that Reynolds (1) churned the customer’s account (2) charged the customer with excessive commissions (3) effected transactions in the…
Cletus Enyinia Emeziem is a stockbroker formerly registered with SCF Securities Inc. who has been discharged by the firm on based upon allegations that Emeziem engaged in a pattern of trading in customer accounts on an excessive basis. This is not the first time that Emeziem has been discharged by a FINRA member firm for…
Andrew Caputo Spaventa of Farmingdale New York a stockbroker formerly employed by Salomon Whitney Financial is the subject of a customer initiated investment related arbitration claim where the customer sought $114,357.00 in damages supported by accusations that Spaventa (1) breached his contractual obligations to the customer (2) effected unauthorized trades in the customer’s account (3)…
Michael Gary Solomon of New York New York a stockbroker currently registered with Maxim Group LLC is referenced in a customer initiated investment related arbitration claim where the customer requested $246,928.64 in damages founded on allegations that between January 1, 2015 and December 31, 2015, Solomon placed over-the-counter equities and stock transactions in the customer’s…
Michael John Giovannelli of Melville New York a stockbroker formerly registered with Salomon Whitney Financial is referenced in a customer initiated investment related arbitration claim in which the customer requested $350,067.00 in damages supported by allegations of (1) breach of contract (2) unauthorized trading (3) suitability (4) negligence and (5) churning of the customer’s equity…
Paul Edward Soll of Los Angeles California a stockbroker formerly employed by Financial West Group has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he declined to cooperate with FINRA in an investigation into accusations of Soll’s unsuitable investment recommendations and churning…
John Charles Wyshak of Los Angeles California a stockbroker currently employed by Raymond James Associates Inc. is referenced in a customer initiated investment related arbitration claim where the customer sought $1,023,460.00 in damages based upon accusations of (1) fraudulent concealment (2) breach of contract (3) conversion (4) omission of material facts (5) churning (6) breach…
Shane Jason Kelly of Port Saint Lucie Florida a stockbroker formerly registered with LPL Financial LLC had been suspended with associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on allegations that Kelly failed to provide FINRA with a response to its request for his information. Case No. 2017054666601 (Jan. 29,…
Charles Ernest Kenahan of Boston Massachusetts a stockbroker currently registered with Merrill Lynch Pierce Fenner Smith Incorporated is the subject of a customer initiated investment related arbitration claim in which the customer sought $700,000.00 in damages based upon accusations that stock trades were effected in the customer’s account on an excessive basis and unsuitable equity…
Joseph Paul Todaro of Garden City New York a stockbroker formerly registered with Spartan Capital Securities LLC is referenced in a customer initiated investment related arbitration claim in which the customer sought $184,241.00 in damages supported by allegations that (1) excessive commissions had been charged to the customer for trades effected in the customer’s account…
Andrew Owen Brown, of Syosset New York a stockbroker formerly registered with J.D. Nicholas Associates Inc. is referenced in a customer initiated investment related arbitration claim in which the customer requested $50,000.00 in damages based upon accusations that (1) the customer’s account was churned (2) fiduciary duties owed to the customer had been breached (3)…
Barry Lee Garapedian of Westlake Village California a stockbroker currently registered with Morgan Stanley is referenced in a customer initiated investment related written complaint on April 1, 2018 in which the customer requested $713,000.00 in damages founded on allegations that (1) the customer’s assets were overconcentrated in speculative investments (2) closed end fund and exchange…
Richard Dell Dunagan of Austin Texas a stockbroker formerly employed by Wells Fargo Advisors LLC is referenced in a customer initiated investment related arbitration claim where the customer sought $261,521.05 in damages founded on allegations that trades were executed in the customer’s account on an excessive and unsuitable basis from 2007 to 2016. Financial Industry…
Robert Ruvein Yasnis of Melville New York a stockbroker formerly registered with Laidlaw Company (UK) Ltd. Is the subject of a customer initiated investment related arbitration claim which settled for $20,000.00 in damages supported by accusations that (1) Yasnis effected excessive trades in the customer’s account (2) placed the customer in equities that were inappropriate…
Richard Robert Fulton of Palm Beach Gardens Florida a stockbroker formerly registered with Morgan Stanley is the subject of a customer initiated investment related complaint which settled on October 24, 2016 for $18,822.00 in damages based upon allegations that mutual fund trades were effected in the customer’s managed account on an excessive basis between January…
Jeffrey Allen Fanning of West Palm Beach Florida is a former owner and chief executive officer of Liberty Partners Financial Services LLC who has been fined $20,000.00 and suspended for six months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity according to an Office of Hearing Officers Order Accepting Offer…
John Michael Lopinto of New York New York is a stockbroker currently registered with Worden Capital Management LLC who is the subject of a customer initiated investment related written complaint on December 18, 2017 where the customer sought $8,878.00 in damages founded on allegations that the customer’s equity investment account was churned. Financial Industry Regulatory…
Winston Wade Turner of Sarasota Florida is a former Pruco Securities LLC stockbroker who is the subject of a customer initiated investment related arbitration claim in which the customer sought $111,000.00 in damages based upon allegations that Turner (1) effected transactions in the customer’s account which were not suitable (2) converted the customer’s funds (3)…
Gil Sharon of New York New York is a stockbroker currently registered with Maxim Group LLC who is the subject of a customer initiated investment related arbitration claim in which the customer requested $200,000.00 in damages supported by allegations that (1) unauthorized options and equity trades had been executed in the customer’s account (2) the…
Thomas Alan Meier of Miami Florida is a stockbroker formerly registered with Morgan Stanley who has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity by consenting to findings that he effected unauthorized and discretionary trades in customer accounts. Letter of Acceptance Waiver and Consent No. 2016049628301 (Mar. 19,…
Eric Lee Sullivan of New York New York is a stockbroker formerly registered with Dinosaur Financial Group LLC who is the subject of a customer initiated investment related written complaint which settled on March 23, 2017 for $12,500.00 in damages founded on allegations that options trades had been placed in the customer’s investment portfolio without…
Philip Martin Hanover of Melville New York is a stockbroker formerly registered with Oppenheimer and Co. Inc. who is the subject of a customer initiated investment related arbitration claim where the customer sought one million one hundred eight thousand one hundred fifty-six dollars in damages based upon allegations of (1) churning (2) suitability and (3)…
Leslie Brian Flaum of Melville New York is a stockbroker formerly registered with Oppenheimer who is the subject of a customer initiated investment related arbitration claim in which the customer sought over one million one-hundred eight thousand dollars in damages based upon accusations that Flaum failed to supervise a registered representative who breached his fiduciary…
Ryan Michael Murnane of Staten Island New York is a stockbroker formerly registered with Woodstock Financial Group who is subject of a Notice of Proposed Agency Action and Opportunity for Hearing brought by the Office of the Commissioner of Securities and Insurance Montana State Auditor which alleged that Murnane committed securities fraud. In the Matter…
Paul Ellias Colchamiro, of Melville, New York, a stockbroker currently registered with Oppenheimer & Co. Inc., is the subject of a customer initiated investment related arbitration claim, in which the customer sought at least $2,000,000.00 in damages founded on allegations including: closed-end funds and equities were effected in the customer’s account that were not suitable…
Todd Kimm of Syracuse, New York, a stockbroker formerly registered with Merrill Lynch, Pierce, Fenner & Smith Incorporated, has been fined $5,000.00 and suspended for six months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he exercised discretion in customer accounts without authority, and placed…
Neil Stanley Kaplan of Bethesda, Maryland, a stockbroker formerly registered with Morgan Stanley, is the subject of a customer initiated investment related civil action brought in the Circuit Court of Montgomery County, Maryland on December 29, 2016, in which the customer sought $435,000.00 in damages founded on accusations that in 2015, stock trades were executed in…
Larry Martin Boggs of Dallas, Texas, a stockbroker formerly registered with Ameriprise Financial Services, Inc., has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he improperly exercised discretion in a customer’s account, and placed unsuitable and excessive trades in the customer’s account. Letter…
Derrick Timothy Watts of Saint Charles, Illinois, a stockbroker currently registered with Oppenheimer & Co., is the subject of a customer initiated investment related written complaint, in which the customer requested over $5,000.00 in damages founded on accusations that Watts churned the customer’s equity portfolio between January of 2010 and November of 2015. Financial Industry Regulatory…
Craig Cary Langweiler, of Philadelphia, Pennsylvania, a stockbroker associated with Windsor Street Capital, L.P. (formerly Meyers Associates, L.P.), has been fined $15,000.00 and suspended for one year from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity according to an Office of Hearing Officers Default Decision pertaining to findings that Langweiler effected…
Jeffrey Allen Fanning, of West Palm Beach, Florida, a former chief executive officer of Liberty Partners Financial Services, LLC, has been charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement in a Complaint alleging that Fanning, inter alia, failed to supervise stockbrokers’ activities for excessive trading in customer accounts. Department of Enforcement v. Jeffrey…
Next Financial Group, Inc., a brokerage firm headquartered in Houston, Texas, has been censured and fined $750,000.00 by Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that the firm failed to create an adequate system to supervise consolidated reports, failed to create written supervisory procedures pertaining to multiple share…
Patrick Henry Maddren, of Boca Raton, Florida, a stockbroker formerly registered with Dawson James Securities, Inc., is the subject of a customer initiated investment related arbitration claim, which settled for $295,000.00 in damages founded on accusations of breach of contract, unsuitable investment recommendations, unauthorized trading, excessive commissions, excessive trading, omissions and misrepresentations, and failure to…
Paul Anthony Falcon, of Miami, Florida, a stockbroker currently registered with Aegis Capital Corp., is the subject of a customer initiated investment related arbitration, where the customer has sought $190,000.00 in damages supported by accusations that between August 1, 2013 and February 1, 2016, excessive and unauthorized trades were executed in the customer’s investment account…
Patrick Nicholas Teutonico of Lynbrook, New York, a stockbroker registered with Network 1 Financial Securities, Inc., is the subject of a customer initiated investment related arbitration claim, in which the customer requested $73,650.00 in damages based upon accusations that Teutonico effected excessive trading in over-the-counter equities in the customer’s investment account. Financial Industry Regulatory Authority (FINRA)…
Gregory Ray Powell of Birmingham, Alabama, a stockbroker formerly registered with LPL Financial LLC, is the subject of a customer initiated investment related arbitration claim, where customers have alleged that between 2006 to 2015, their investment accounts were improperly managed, misrepresentations were made relating to investments, fees were excessively charged, and their investment portfolios were churned….
Louis Anthony Telerico of Dayton, Ohio, a stockbroker formerly registered with Westminster Financial Securities, Inc. has been named in a customer initiated investment related arbitration claim, in which the customer requested $426,000.00 in damages based upon allegations that Telerico executed art and land based transactions that led the customer to sustain losses. FINRA Arbitration No. 17-00988…
John Robert Openshaw, of Irvine, California, a stockbroker formerly registered with Newport Coast Securities, Inc., has been named in a customer initiated investment related written complaint on February 8, 2017, in which the customer requested $70,000.00 in damages based upon allegations that from 2014 to 2017, Openshaw churned the customer’s investment portfolio and effected mutual…
Martin William Pernoll, of Santa Monica, California, a stockbroker formerly registered with Bay Mutual Financial, LLC, has been fined $25,000.00 and suspended for nine months from associating with any Financial Industry Regulatory Authority (FINRA) member firm by consenting to findings that he, inter alia, executed unauthorized transactions, and failed to report customer disputes. Letter of…
Joseph Leigh Cotter, of Charlotte, North Carolina, a stockbroker with Next Financial Group, Inc., has been fined $15,000.00, disgorged of $100,549.42 in commissions, and suspended for nine months from having any association with a FINRA member by consenting to findings that he effected transactions in an investor’s accounts on an unsuitable and excessive basis. Letter…
Steven Robert Luftschein, of Melville, New York, a stockbroker formerly registered with Aegis Capital Corp., has been named in a customer initiated investment related arbitration claim, where the customer has requested $269,131.00 in damages based upon allegations of breach of fiduciary duty, breach of contract, omissions and misrepresentations, excessive and unauthorized trading, and unsuitable investment…
Craig Gary Langweiler, of Philadelphia, Pennsylvania, a stockbroker formerly registered with Windsor Street Capital, L.P. (formerly known as Meyers Associates, L.P.), was charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement in a Complaint alleging that Langweiler effected excessive and unsuitable trades in a customer’s account, and exercised discretion without authorization. Department of Enforcement…
Todd Allen Burnett, of Saint Louis, Missouri, a stockbroker currently registered with Oppenheimer & Co., Inc., has been named in a customer initiated investment related written complaint on April 3, 2017, in which the customer requested $849,853.62 in damages based upon allegations that Burnett churned the customer’s investment portfolio and placed equity trades in the…
Gregory Roy Tucker, of Des Moines, Iowa, a stockbroker currently registered with D.A. Davidson & Co., has been identified in a customer initiated investment related arbitration claim on October 17, 2016, where the customer’s claim was based on allegations that Tucker effected trades in the customer’s account on an excessive and unsuitable basis, which resulted…
Steven LaMar Nielsen, of Gilbert, Arizona, a stockbroker formerly registered with DFPG Investments, Inc., is the subject of a customer initiated investment related complaint, which settled on July 6, 2017, for $4,500.00 in damages grounded on allegations that Nielsen effected unsuitable transactions in the customer’s account, and churned the customer’s investment portfolio of mutual funds,…
Windsor Street Capital (formerly Meyers Associates, L.P.), a brokerage firm headquartered in New York, New York, as well as its stockbrokers, Nas Adel Allan and Gregory J. Anastos, were charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement in a Complaint alleging, inter alia, that customers’ investment accounts were traded on an excessive and…
Christopher John Calandrino, of Holbrook, New York, a stockbroker formerly registered with Holbrook, New York, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that he failed to provide FINRA with information about his business activities. Letter No. 2016051602401 (Feb. 10, 2017). FINRA Public Disclosure…
Richard Wilson Hartnett, of West Palm Beach, Florida, a stockbroker formerly registered with Morgan Stanley, is the subject of a customer initiated investment related arbitration claim, which settled on March 30, 2017, for $87,500.00 in damages based upon allegations that he effected unsuitable and excessive stock transactions in the customer’s account. Financial Industry Regulatory Authority…
Thomas Daniel Sullivan, of New York, New York, a stockbroker formerly registered with Lampert Capital Markets Inc., is the subject of a customer initiated investment related arbitration claim on June 16, 2017, in which the customer requested $11,069.00 in damages based upon allegations that Sullivan effected equities transactions on an excessive and unsuitable basis. Financial…
Daniel Edward Peltier, of Edina, Minnesota, a stockbroker formerly registered with RBC Capital Markets, LLC, has been named in a customer initiated investment related written complaint, which settled on May 12, 2016, in which the customer received $45,033.63 in damages based upon allegations that he engaged in sales practice violations with respect to an over-the-counter…
Rodger James Burskey, of Commerce Township, Michigan, a former stockbroker associated with Voya Financial Advisors, Inc., has been named in a customer initiated investment related arbitration claim, which settled on May 25, 2017, for $19,700.00 in damages based upon allegations that Burskey effected equities transactions in the customer’s account despite the transactions not having been…
Gregory William Melendez, of Melville, New York, a stockbroker formerly registered with International Assets Advisory, has been named in a customer initiated investment related arbitration claim on February 16, 2017, in which the customer requested $41,376.00 in damages based upon allegations that he effected unsuitable and unauthorized over-the-counter equity transactions in the customer’s account, and…
Scott Jason Hechler, of New York, New York, has been named in a customer initiated investment related arbitration claim, which settled on July 5, 2016, for $24,999.00 in damages based upon allegations that he made misrepresented investment products, churned the customer’s account, and deceived the customer in reference to stock transactions effected in the customer’s…
Elvin J. Lopez, of New York, New York, a stockbroker formerly registered with Brookstone Securities, Inc., has been named in a customer initiated investment related arbitration claim, which settled on April 12, 2017, for $31,276.98 in damages based upon allegations that he made misrepresentations to the customer, breached his fiduciary and contractual duties, negligently managed…
William David Nelson, of New York, New York, a stockbroker formerly registered with Meyers Associates, L.P., has been fined $5,000.00 by the Commissioner of Securities and Insurance, Montana State Auditor, pursuant to a Consent Agreement and Final Order containing findings that Nelson traded excessively in the accounts of three residents of Montana. In the Matter…
Kishan Parikh, of New York, New York, a stockbroker currently registered with Aegis Capital Corp., has been named in a customer initiated investment related arbitration claim on May 11, 2017, in which the customer requested $350,000.00 in damages based upon allegations that Parikh made unsuitable investment recommendations to the customer and effected trades in the…
Steven John Meyer, of Staten Island, New York, a stockbroker formerly registered with Legend Securities, Inc., was fined $100,000.00 and suspended from acting as a broker-dealer in any capacity in The State of New Hampshire pursuant to a New Hampshire Bureau of Securities Regulation Order founded upon allegations against Meyer including, inter alia: the failure…
Stephen J. Landa, of Easton, Connecticut, a stockbroker formerly registered with Invest Financial Corporation, has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he effected unsuitable transactions in a customer’s account. Letter of Acceptance, Waiver and Consent, No. 2016049485101…
Felippe Teixeira Alves, of New York, New York, a stockbroker currently registered with National Securities Corporation, has been named in a customer initiated investment related arbitration claim on June 20, 2016, in which the customer requested $5,750,000.00 in damages based upon allegations that Alves effected unauthorized trades, churned the customer’s investment account, made investment based…
Joseph C. Farah, of Irvine, California, a stockbroker formerly registered with Gold Coast Securities, Inc., has been charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement in a Complaint alleging that Farah excessively traded and churned a customer’s investment account. Department of Enforcement v. Joseph C. Farah, No. 2014041432401 (May. 8, 2017). According to…
Craig Gary Langweiler of Newton, Pennsylvania, a stockbroker formerly registered with Summit Brokerage Services, Inc., was named in a Financial Industry Regulatory Authority (FINRA) Wells Notice, which indicated that a disciplinary action against Langweiler had been recommended by FINRA. Wells Notice No. 20140403477 (May. 1, 2017). The Notice indicated that from December of 2011 to…
Jose Ramon Gonzalez, of Chicago, Illinois, a stockbroker formerly registered with American Trust Investment Services, Inc., has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he did not participate in a FINRA investigation into allegations of excessive trades having been effected in…
Bahram Mirhashemi, of Artesia, California, a stockbroker formerly registered with Ameriprise Financial Services, has been named in a customer initiated investment related arbitration claim, which settled on April 10, 2017, for $85,000.00 in damages based upon allegations that Mirhashemi mishandled the customer’s investment account, and effected equity trades in the customer’s account on an excessive…
Peyton Nelson Jackson, of New York, New York, has been subject of an investigation conducted by Financial Industry Regulatory Authority (FINRA), in which FINRA has determined that Jackson be disciplined for failing to provide information and documentation to FINRA staff in reference to allegations of his alleged wrongdoing and failing to appear before FINRA staff…
Robert Andrew Kahn, of Creve Coeur, Missouri, a stockbroker formerly registered with Edward Jones, was terminated from employment on September 15, 2016, based upon the firm’s allegations that Kahn committed violations of Edward Jones’ policies by engaging in discretionary trading in customer accounts, and effecting stock trades in customer accounts on an excessive basis. Financial…
James Gilbert Blair, of Coronado, California, a stockbroker currently registered with Raymond James Financial Services, Inc., has been named in a customer initiated investment related arbitration claim on February 1, 2017, in which the customer requested $300,000.00 in damages based upon allegations that Blair effected unauthorized and unsuitable over-the-counter equities transactions in the customer’s account,…
Matthew Hugh Hurley, of San Diego, California, a stockbroker formerly registered with Oppenheimer & Co. Inc., has been named in a customer initiated investment related arbitration claim, which settled on November 10, 2016, for $15,000.00 in damages based upon allegations that Hurley failed to execute upon the customer’s stop loss order, and charged the customer…
Kelly Clayton Althar, of San Francisco, California, a stockbroker formerly registered with Financial West Group, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon an Office of Hearing Officers’ Order Accepting Offer of Settlement containing findings that Althar effected trades in a customer’s account on an…
Albert Dishner, of New York, New York, a stockbroker formerly registered with Credit Suisse Securities (USA) LLC, has been named in a customer initiated investment related arbitration claim, which settled on December 30, 2016, for $205,000.00 in damages based upon allegations that include churning, excessive trading, violation of state and federal securities laws, violation of…
Brett Scott Murphy, of Palm Beach Gardens, Florida, a stockbroker formerly registered with Oppenheimer & Co. Inc., has been named in a customer initiated investment related arbitration claim on August 11, 2016, in which the customer requested $2,000,000.00 in damages based upon allegations that Murphy effected unsuitable unit investment trust transactions in the customer’s account,…
Gary Woodruff Peterson, of Rockford, Illinois, a stockbroker formerly registered with Ameriprise Financial Services, was prohibited from offering or selling securities in the State of Illinois based upon consenting to The State of Illinois Securities Department allegations that Peterson effected excessive trades in a customer’s account for purposes of accumulating excessive commissions to the customer’s…
Zachary Samuel Berkey, of Melville, New York, a stockbroker formerly registered with Four Points Capital Partners LLC, has been named in The State of Montana Securities Division’s December 11, 2014 investigation into allegations that Berkey effected trades in a customer’s account on an excessive basis and made unsuitable investment recommendations to customers. Financial Industry Regulatory…
Todd Joseph Henrich, of Edison, New Jersey, a stockbroker currently registered with National Securities Corporation, has been named in a customer initiated investment related arbitration claim, which settled on September 29, 2015, for $26,000.00 in damages based upon allegations that Henrich negligently handled the customer’s investment portfolio, breached his fiduciary duties, made misrepresentations to the…
Curtis Dean Milakovich, of Naples, Florida, a stockbroker currently registered with Kovack Securities Inc., has been named in a customer initiated investment related arbitration claim on August 31, 2016, based upon allegations that Milakovich made unsuitable investment recommendations to the customer, implemented an unsuitable strategy for investing, and churned the customer’s account. The customer additionally…
Jeanpaul Charles Skovronck, of New York, New York, a stockbroker formerly registered with Legend Securities, Inc., has been named in a customer initiated investment related arbitration claim on August 29, 2016, in which the customer requested $200,000.00 in damages based upon allegations that Skovronck negligently handled the customer’s investment portfolio, breached his fiduciary and contractual…
Ty Kevin Bauer, a stockbroker formerly registered with J.P. Turner & Company, L.L.C., has been named in a customer initiated investment related arbitration claim on March 3, 2016, in which a customer requested $500,000.00 in damages based upon allegations that from 2011 to 2016, Bauer effected unsuitable corporate debt and direct investment transactions, and churned…
Robert Francis Stefanelli, a stockbroker formerly registered with Legend Securities, Inc., has been named in a customer initiated investment related arbitration claim on December 12, 2016, in which the customer requested $50,000.00 in damages based upon allegations that Stefanelli utilized high pressure sales tactics, and effected equity and options margin trades in the customer’s account…
Shaun Evan Stein, of New York, New York, a stockbroker formerly registered with J.P. Turner & Company, L.L.C., has been named in a customer initiated investment related arbitration claim on June 30, 2014, in which the customer requested $75,000.00 in damages based upon allegations that Stein breached his contractual duties owed to the customer, engaged…
Matthew Ian Turner, of Fort Lauderdale, Florida, a stockbroker formerly registered with Laidlaw & Company (UK) Ltd., has been named in a customer initiated investment related arbitration claim, which settled on August 8, 2014, for $23,115.00 in damages based upon allegations that Turner effected unsuitable equity transactions in the customer’s account. Financial Industry Regulatory Authority…
Steve Dale Heath, of Newport News, Virginia, a stockbroker formerly registered with LPL Financial, LLC, has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he effected trades in a customer’s account on an unsuitable and unauthorized basis. Letter of…
Richard Gomez of New York, New York, a stockbroker formerly registered with Avenir Financial Group, has been suspended for one year from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Gomez, inter alia, effected unauthorized and excessive trades in the customers’ accounts. Letter of Acceptance, Waiver…
Indra Ramsahai, of New York, New York, a stockbroker formerly registered with Aegis Capital Corp, has been named in a customer initiated investment related arbitration claim, which settled on July 18, 2016, for $90,000.00 in damages based upon allegations that Ramsahai churned the customer’s investment account and effected unsuitable leveraged exchange traded fund transactions. Financial…
Eugene Theodore Smietana, of Traverse City, Michigan, a stockbroker formerly registered withEugene Theodore Smietana, has been named in a customer initiated investment related written complaint, which settled on December 7, 2015, for $87,750.00 in damages based upon allegations that Smietana effected equity trades in the customer’s account on an excessive and unsuitable basis. Financial Industry…
Matthew Meehan, a stockbroker formerly registered with E.J. Sterling, LLC, has been fined $15,000.00 and suspended for twelve months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he effected unsuitable trades in customer accounts. Letter of Acceptance, Waiver and Consent, No. 2016050114901 (Jan. 11, 2017). According…
Zak William Shapiro, of Los Angeles, California, a stockbroker formerly registered with Oppenheimer & Co. Inc., has been named in a customer initiated investment related written complaint on June 22, 2016, in which the customer requested $32,196.55 in damages based upon allegations that between April of 2015 to April of 2016, Shapiro effected trades in…
The Broker-Dealer Task Force and Office of Investor Education of the Securities and Exchange Commission (SEC) issued an Investor Alert on January 9, 2017, which discussed how investors can detect when brokers effect excessive trades in their brokerage accounts. The SEC also detailed how investors could respond when notified by brokerage firms regarding substantial trading…
Kelly Clayton Althar, of San Francisco, California, a stockbroker formerly registered with Financial West Group, has been charged by Financial Industry Regulatory Authority (FINRA) in a Complaint alleging that Althar effected trades in a customer’s account on an excessive basis and made unsuitable investment recommendations to the customer. Department of Enforcement v. Kelly Clayton Althar,…
Christopher J. Cowans, a stockbroker formerly registered with Morgan Stanley Smith Barney, has been named in a customer initiated investment related arbitration claim on December 11, 2015, in which the customer has requested $600,000.00 in damages based upon allegations that between March of 2011 and December of 2013, Cowans effected excessive transactions in the customer’s…
Rodger James Burskey, of Commerce Township, Michigan, a stockbroker formerly registered with Voya Financial Advisors, Inc., has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity based upon consenting to findings that he failed to cooperate with FINRA in its investigation into allegations that Burskey made unsuitable…
Dean John Kajouras, of New York, New York, a stockbroker with Fordham Financial Management, Inc., has been named in a customer initiated investment related arbitration claim on March 7, 2016, in which the customer requested $115,414.22 in damages based upon allegations that Kajouras made misrepresentations to the customer concerning investments, breached his contractual obligations, effected…
Marc Neil Kalter, of Garden City, New York, a stockbroker formerly registered with Woodstock Financial Group, has been named in a customer initiated investment related arbitration claim on March 21, 2016, in which the customer requested $182,000.00 in damages based upon allegations that Kalter breached his fiduciary duty to the customer, excessively traded and churned…
John Billy Kakonikos, of Lake Success, New York, a stockbroker formerly associated with Caldwell International Securities, was fined $10,000.00 and suspended for eighteen months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he effected unauthorized, as well as unsuitable and excessive trades in a customer…
Joseph R. Connolly, of Staten Island, New York, a stockbroker formerly registered with Alexander Capital, L.P., has been subject to a customer initiated investment related arbitration claim on February 8, 2016, in which the customer requested $660,000.00 in damages based upon allegations that Connolly effected excessive and unsuitable trades in the customer’s account, and generated…
Daniel L. Silverstein, of Boca Raton, Florida, a stockbroker currently registered with Primex, or Prime Electronic Execution, Inc. has been named in a customer initiated investment related arbitration claim on August 19, 2016, in which the customer has requested $431,000.00 in damages based upon allegations that Silverstein breached his fiduciary to the customer, traded in the…
Douglas A. Leone, of Dix Hills, New York, a stockbroker formerly registered with Newport Coast Securities, has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity per a FINRA Extended Hearing Panel Decision containing findings that Leone churned customer accounts and effected unsuitable trades. Department of Enforcement…
Debra Lambert, of The Villages, Florida, a stockbroker currently registered with Raymond James & Associates, Inc., has been named in a customer initiated investment related arbitration claim on February 13, 2015, in which the customer requested $326,515.64 in damages based upon allegations that Lambert effected excessive and unauthorized trades in the customer’s account, and made…
Donald Bartelt, of West Palm Beach, Florida, a stockbroker formerly registered with Newport Coast Securities has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity per a FINRA Office of Hearing Officers’ Default Decision containing findings that Bartelt effected unsuitable trades and churned customer accounts. Department of Enforcement…
Antonio Costanzo, of West Palm Beach, Florida, a stockbroker formerly registered with Newport Coast Securities, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity based upon a Default Decision containing findings that Costanzo made unsuitable investment recommendations to customers, effected unsuitable trades, churned customer accounts, and failed…
Alex Etter, of Englewood Cliffs, New Jersey, a stockbroker formerly registered with Caldwell International Securities, was fined $10,000.00, and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity per a FINRA Order Accepting Offer of Settlement containing findings that Etter effected unsuitable investment recommendations to customers. Department of Enforcement v….
Jason H. Klabal, of New York, New York, a stockbroker formerly registered with Legend Securities, Inc., disclosed several customer initiated investment related arbitration claims. Specifically, on November 17, 2015, Klabal settled a customer initiated investment related arbitration claim for $50,000.00 in damages based upon allegations that Klabal was responsible for the customer’s losses on an…
Jeremy D. Hare, of Philadelphia, Pennsylvania, a stockbroker formerly registered with Oppenheimer & Co. Inc., has been named in a pending customer initiated investment related arbitration claim on September 14, 2016, in which the customer requested $1,000,000.00 in damages based upon allegations that Hare charged the customer with excessive commissions, committed negligence, breached his fiduciary…
Mark Kaplan, of Woodbury, New York, a stockbroker with Vanderbilt Securities, LLC, was named in a customer initiated investment related arbitration claim on February 15, 2016, in which the customer has requested $1,130,000.00 in damages per allegations against Kaplan of effecting unsuitable investment transactions for the customer. FINRA Public Disclosure reveals that Kaplan has been…
Sean W. Mollard, of Boca Raton, Florida, a stockbroker for Dawson James Securities, Inc., became subject to a pending customer dispute from March 31, 2016, in which a customer requested $1,000,000.00 in damages after alleging that Mollard made material misrepresentations regarding investments, charged excessive commissions to the customer, engaged in excessive trading, failed to abide…
Joseph Clemente, of Syosset, New York, a stockbroker with J.D. Nicholas & Associates, Inc., is subject to a pending customer dispute from October 24, 2014, in which a customer is requesting $57,130.00 in connection with allegations against Clemente of negligence, churning of the customer’s account, overconcentration of investments, negligence, unsuitability, and failure to supervise. Public…
Joe M. Pazmino, of New York, New York, a stockbroker for Aegis Capital Corp., is subject to two pending customer disputes. Particularly, on February 17, 2016, customers lodged a complaint against Pazmino, requesting $500,000.00 in damages per allegations that Pazmino engaged in excessive trading in the customers’ accounts, and made unsuitable investment recommendations. Public Disclosure…
Rick J. Sande, of Melville, New York, is subject to a pending customer dispute from March 8, 2016, in which the customer requested $80,000.00 in damages after alleging that Sande engaged in unsuitable trading and churning in the customer’s account, and committed a breach of fiduciary duty. According to Public Disclosure Records, Sande was also…
Legend Securities Stockbroker Charged With Fraud. Hank M. Werner, of New York, New York, a stockbroker associated with Liberty Partners Financial Services, LLC, and later Legend Securities, Inc., was charged by Financial Industry Regulatory Authority (FINRA) in a Complaint alleging that Werner engaged in securities fraud, made unsuitable investment recommendations, and engaged in excessive amounts…
First Financial Equity Corporation, headquartered in Scottsdale, Arizona, as well as the firm’s Chief Compliance Officer, Melissa Strouse, was named in a Financial Industry Regulatory Authority (FINRA) Department of Enforcement Complaint alleging failure to supervise various aspects of the firm’s operations, including commissions charged by the firm’s staff. Department of Enforcement v. First Financial Equity…
Lance E. Slater, of Mt. Laurel, New Jersey, a stockbroker with Morgan Stanley, was barred from associating with any Financial Industry Regulatory Authority (FINRA) member after consenting to findings that he failed to cooperate in a FINRA investigation into allegations of unauthorized borrowing of funds from a firm customer. Letter of Acceptance, Waiver and Consent,…
Bahram Mirhashemi, of Irvine, California, a stockbroker registered with Accelerated Capital Group, Inc., was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he had engaged in unauthorized and excessive trading, churning, and unsuitable recommendations. Letter of Acceptance, Waiver and Consent, No. 2012033566201 (Feb….
Larry Michael Crabtree of Edmond, Oklahoma, a stockbroker with WFG Investments, Inc., was suspended for six-months in all capacities from association with any Financial Industry Regulatory Authority (FINRA) member firm after consenting to findings that Crabtree engaged in unsuitable trading and improperly exercised discretion in the account of a customer; sent inappropriate and unapproved communications…
Craig Scott Capital, LLC, headquartered in Uniondale, New York, along with owners Craig Scott Taddonio and Brent Morgan Porges, were charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement in a Complaint alleging that the firm and its owners had engaged in excessive and unsuitable trading, fraudulent churning, and other supervisory failures. Department of…
David C. Cannata of Uniondale, New York, a stockbroker with Craig Scott Capital, LLC, was charged by the Financial Industry Regulatory Authority (FINRA) Department of Enforcement in a Complaint alleging that Cannata excessively traded and churned customer accounts; and also failed to comply with a FINRA investigation into his alleged misconduct. Department of Enforcement v….
Marc A. Arena of Westbury, New York, a stockbroker with Newport Coast Securities, Inc., was suspended for twenty-three months from associating with any Financial Industry Regulatory Authority (FINRA) member firm in a principal capacity, while being suspended for ten business days from association with any FINRA member firm in any capacity per an Order Accepting…
Halcyon Cabot Partners, Ltd. was expelled from Financial Industry Regulatory Authority (FINRA) membership, while two of its principals, Ronald Mark Heineman and Michael Trent Morris, were permanently barred from association with any FINRA member in any capacity per an Order Accepting Offer of Settlement containing findings of widespread violations of securities laws including a scheme…
James Alexander Torres, a registered representative with Global Arena Capital Corp., was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member after consenting to FINRA findings that Torres made material misrepresentations and omitted material facts in connection with securities transactions, excessively traded and churned customer accounts, and engaged in unsuitable recommendations of…
Richard Edward Bohack, a trading and operations principal with Global Arena Capital Corp., was permanently barred form associating with any Financial Industry Regulatory Authority (FINRA) member in any principal capacity after consenting to findings that Bohack had failed to appropriately provide supervision of brokers at Global Arena’s sixth avenue branch firm, which included the failure…
Robert C. Marrone, a registered representative with Morgan Stanley, was permanently barred form association with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to FINRA findings that Marrone failed to cooperate in an investigation into allegations that Marrone engaged in unauthorized trading and discretion without authorization in client accounts. Letter of…
The Securities and Exchange Commission brought an action against Bennett Group and its founder Dawn J. Bennett for federal securities fraud. Bennett and most employee associated with the Bennett Group are registered representatives of with Western International Securities, Inc. According to the SEC’s allegations, Bennett, made material misstatements and omissions regarding assets that were purportedly…
Cape Securities, Inc., a FINRA member since 1976 headquartered in McDonough, GA, offers brokerage services via 118 registered reps via its 20 branch offices and 79 non-registered offices. The Firm was censured and fined $125,000 after consenting to FINRA findings that the firm failed to establish and enforce adequate supervisory systems to detect/prevent fraudulent wires…
Derek Lee Miller of Redondo Beach, CA, a former general securities representative with Securities America, Inc., was permanently barred from association with any FINRA-registered firm in all capacities after failing to appear for on-the-record testimony in connection with FINRA’s investigation into allegations that Miller engaged in unsuitable trading. FINRA Letter of Acceptance, Waiver and Consent,…
Roman Tyler Luckey of Irvine CA, a former registered principal with Newport Coast Securities, Inc., was fined $15,000 and suspended for practicing for 14 months by FINRA’s National Adjudicatory Council after consenting to FINRA sanctions and findings concerning Luckey’s failure to properly supervise his staff which led to his subordinates excessively trading and churning 24…
Rasheed Adams of New York, a prior representative for Caldwell International Securities, was barred from association with any FINRA-registered firm in all capacities after failing to provide FINRA with requested documentation in connection with allegations that Adams engaged in excessive and unsuitable churning and trading in customer accounts, while also failing to disclose a total…