Churning

Archive | Churning

Investors File FINRA Arbitration Claim Filed Against Presidential Brokerage For Fraud

October 19, 2021  |   Posted by :   |   Breach of Fiduciary Duty, Churning, Failure To Supervise, FINRA Securities Arbitration, Investment and Regulatory News   |   Comments Off on Investors File FINRA Arbitration Claim Filed Against Presidential Brokerage For Fraud

Michele George Savarese (also known as Michael Savarese and as Mike Savarese) of San Diego California a stockbroker and investment adviser representative of Presidential Brokerage Inc. (now known as Forta Financial Group) is the subject of a customer initiated investment related FINRA securities arbitration claim where the customer sought $100,000.00 in damages founded upon accusations […]

Read More »

FINRA Investigates Spartan Capital Stockbroker For Failure to Disclose Investor Disputes

October 08, 2021  |   Posted by :   |   Boilerroom Sales, Churning, FINRA Securities Arbitration, Investment and Regulatory News   |   Comments Off on FINRA Investigates Spartan Capital Stockbroker For Failure to Disclose Investor Disputes

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. […]

Read More »

Investors Accuse Wells Fargo Of The Sale of Unsuitable Investments

October 08, 2021  |   Posted by :   |   Churning, FINRA Securities Arbitration, Investment and Regulatory News, Unauthorized Trading, Unsuitable Investment Recommendations   |   Comments Off on Investors Accuse Wells Fargo Of The Sale of Unsuitable Investments

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 […]

Read More »

FINRA Investigates SW Financial Stockbroker For Churning

October 08, 2021  |   Posted by :   |   Boilerroom Sales, Breach of Fiduciary Duty, Churning, Investment and Regulatory News, Unsuitable Investment Recommendations   |   Comments Off on FINRA Investigates SW Financial Stockbroker For Churning

Arthur Mel Coffey (also known as Mel Coffey) of Miller Place New York a stockbroker currently registered with SW Financial is referenced in a FINRA investigation which may lead to Department of Enforcement bringing a disciplinary action against him for possibly churning customer accounts and making unsuitable trades in violation of FINRA rules. FINRA Case […]

Read More »

Four Points Capital Partners Stockbroker Sanctioned By FINRA

October 08, 2021  |   Posted by :   |   Breach of Fiduciary Duty, Churning, Excessive Trading, Failure To Supervise, FINRA Securities Arbitration, Investment and Regulatory News   |   Comments Off on Four Points Capital Partners Stockbroker Sanctioned By FINRA

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 […]

Read More »

Investors Accuse Raymond James Of Unauthorized Trading

September 16, 2021  |   Posted by :   |   Churning, FINRA Securities Arbitration, Investment and Regulatory News, Over Concentration, Unauthorized Trading, Unsuitable Investment Recommendations   |   Comments Off on Investors Accuse Raymond James Of Unauthorized Trading

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 […]

Read More »

Worden Capital Stockbroker Under FINRA Investigation

September 16, 2021  |   Posted by :   |   Churning, Excessive Trading, Investment and Regulatory News, Unsuitable Investment Recommendations   |   Comments Off on Worden Capital Stockbroker Under FINRA Investigation

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 […]

Read More »

Worden Capital Stockbroker Fines $1.9 Million and Barred For Churning

September 03, 2021  |   Posted by :   |   Churning, Excessive Trading, Investment and Regulatory News   |   Comments Off on Worden Capital Stockbroker Fines $1.9 Million and Barred For Churning

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 […]

Read More »

SEC Affirms FINRA Bar Of Rogue Stockbroker For Churning

August 26, 2021  |   Posted by :   |   Churning, Investment and Regulatory News, Securities Fraud   |   Comments Off on SEC Affirms FINRA Bar Of Rogue Stockbroker For Churning

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 […]

Read More »

FINRA Arbitration Claim Filed Against Merrill Lynch For Misrepresentation

August 26, 2021  |   Posted by :   |   Churning, FINRA Securities Arbitration, Investment and Regulatory News, Unsuitable Investment Recommendations   |   Comments Off on FINRA Arbitration Claim Filed Against Merrill Lynch For Misrepresentation

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 […]

Read More »

Morgan Stanley Stockbroker Sanctioned For Unauthorized Trading

August 26, 2021  |   Posted by :   |   Churning, FINRA Securities Arbitration, Investment and Regulatory News, Unauthorized Trading   |   Comments Off on Morgan Stanley Stockbroker Sanctioned For Unauthorized Trading

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 […]

Read More »

FINRA Bars Primex CEO For Failure to Cooperate In Ongoing Investigation

August 26, 2021  |   Posted by :   |   Churning, FINRA Securities Arbitration, Investment and Regulatory News, Non-traded REITs   |   Comments Off on FINRA Bars Primex CEO For Failure to Cooperate In Ongoing Investigation

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 […]

Read More »

Worden Capital Stockbroker Sanctioned For Failure To Supervise

August 15, 2021  |   Posted by :   |   Boilerroom Sales, Churning, Excessive Trading, Failure To Supervise, Investment and Regulatory News   |   Comments Off on Worden Capital Stockbroker Sanctioned For Failure To Supervise

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 […]

Read More »

FINRA Charges Aegis Stockbroker With Excessive Trading

August 06, 2021  |   Posted by :   |   Boilerroom Sales, Churning, Excessive Trading, FINRA Securities Arbitration, Investment and Regulatory News   |   Comments Off on FINRA Charges Aegis Stockbroker With Excessive Trading

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 […]

Read More »

Another First Standard Financial Stockbroker Accused Of Fraud

August 06, 2021  |   Posted by :   |   Boilerroom Sales, Churning, Excessive Trading, Failure To Supervise, FINRA Securities Arbitration, Investment and Regulatory News   |   Comments Off on Another First Standard Financial Stockbroker Accused Of Fraud

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 […]

Read More »

Another Rogue First Standard Stockbroker Sanctioned For Excessive Trading

August 06, 2021  |   Posted by :   |   Boilerroom Sales, Churning, Excessive Trading, Unauthorized Trading   |   Comments Off on Another Rogue First Standard Stockbroker Sanctioned For Excessive Trading

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 […]

Read More »

Aegis Capital Stockbroker Sanctioned By FINRA For Unsuitable Trading

July 31, 2021  |   Posted by :   |   Churning, Excessive Trading, FINRA Securities Arbitration, Investment and Regulatory News, Unsuitable Investment Recommendations   |   Comments Off on Aegis Capital Stockbroker Sanctioned By FINRA For Unsuitable Trading

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 […]

Read More »

FINRA Sanctions Another Aegis Stockbroker For Churning

July 31, 2021  |   Posted by :   |   Churning, Excessive Trading, Investment and Regulatory News   |   Comments Off on FINRA Sanctions Another Aegis Stockbroker For Churning

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 […]

Read More »

Another Worden Capital Stockbroker Investigated For Churning

July 07, 2021  |   Posted by :   |   Boilerroom Sales, Churning, Excessive Trading, FINRA Securities Arbitration, Investment and Regulatory News, Over Concentration, Unsuitable Investment Recommendations   |   Comments Off on Another Worden Capital Stockbroker Investigated For Churning

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. […]

Read More »

Spartan Capital Stockbroker Charged With Churning Customer Accounts

July 07, 2021  |   Posted by :   |   Boilerroom Sales, Churning, Excessive Trading, FINRA Securities Arbitration, Investment and Regulatory News, Unauthorized Trading   |   Comments Off on Spartan Capital Stockbroker Charged With Churning Customer Accounts

Marc Augustus Reda of New York New York a stockbroker currently registered with Spartan Capital Securities LLC has been charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement with recommending unsuitable transactions for 66 customer accounts at Spartan Capital Securities and for churning those accounts. Department of Enforcement v. Marc Augustus Reda Complaint No. […]

Read More »

First Standard Financial Stockbroker Sanctioned For Fraud

July 07, 2021  |   Posted by :   |   Boilerroom Sales, Churning, Excessive Trading, Investment and Regulatory News   |   Comments Off on First Standard Financial Stockbroker Sanctioned For Fraud

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 […]

Read More »

FINRA Charges MML Stockbroker With Obstruction

May 31, 2021  |   Posted by :   |   Churning, Excessive Trading, Investment and Regulatory News, Non-traded REITs, Unauthorized Trading   |   Comments Off on FINRA Charges MML Stockbroker With Obstruction

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 […]

Read More »

FINRA Sanctions Another Stockbroker In Shuttered Boilerroom Operation

May 31, 2021  |   Posted by :   |   Boilerroom Sales, Churning, Excessive Trading, Failure To Supervise, FINRA Securities Arbitration, Investment and Regulatory News   |   Comments Off on FINRA Sanctions Another Stockbroker In Shuttered Boilerroom Operation

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 […]

Read More »

Guiliano Law Group Wins $1.9 Million Arbitration Award

May 28, 2021  |   Posted by :   |   Breach of Fiduciary Duty, Churning, Excessive Trading, Failure To Supervise, FINRA Securities Arbitration, Investment and Regulatory News, Unauthorized Trading   |   Comments Off on Guiliano Law Group Wins $1.9 Million Arbitration Award

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, […]

Read More »

LPL Stockbroker Sanctioned By FINRA For Customer Loan

May 15, 2021  |   Posted by :   |   Churning, Customer Loans, Investment and Regulatory News   |   Comments Off on LPL Stockbroker Sanctioned By FINRA For Customer Loan

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 […]

Read More »

Aegis Stockbroker Charged With Excessive Trading

March 31, 2021  |   Posted by :   |   Churning, Excessive Trading, FINRA Securities Arbitration, Investment and Regulatory News, Unauthorized Trading   |   Comments Off on Aegis Stockbroker Charged With Excessive Trading

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 […]

Read More »

Investors File FINRA Securities Arbitration Claim Against Morgan Stanley For Excessive Trading

March 08, 2021  |   Posted by :   |   Churning, Excessive Trading, FINRA Securities Arbitration, Investment and Regulatory News, Structured Products   |   Comments Off on Investors File FINRA Securities Arbitration Claim Against Morgan Stanley For Excessive Trading

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 […]

Read More »

First Standard Stockbroker Sanctioned For Excessive Trading

February 16, 2021  |   Posted by :   |   Boilerroom Sales, Churning, Elder Financial Abuse, Excessive Trading, Investment and Regulatory News   |   Comments Off on First Standard Stockbroker Sanctioned For Excessive Trading

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 […]

Read More »

Aegis Stockbroker Sanctioned For Excessive Trading

February 16, 2021  |   Posted by :   |   Boilerroom Sales, Churning, Excessive Trading, FINRA Securities Arbitration, Investment and Regulatory News   |   Comments Off on Aegis Stockbroker Sanctioned For Excessive Trading

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. […]

Read More »

Worden Capital CEO Sanctioned For Failure To Supervise

February 01, 2021  |   Posted by :   |   Boilerroom Sales, Churning, Excessive Trading, Failure To Supervise, Investment and Regulatory News   |   Comments Off on Worden Capital CEO Sanctioned For Failure To Supervise

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 […]

Read More »