Excessive Markups

Archive | Excessive Markups

B Riley Wealth Management Sued For Excessive Fees

January 19, 2021  |   Posted by :   |   Excessive Markups, Investment and Regulatory News, Unauthorized Trading   |   Comments Off on B Riley Wealth Management Sued For Excessive Fees

Jack B. McBride of Plymouth Michigan a stockbroker currently registered with B Riley Wealth Management is referenced in a customer initiated investment related FINRA securities arbitration claim where the customer requested $380,000.00 in damages based upon accusations that the stockbroker provided unsuitable investment advice to the B Riley customer concerning exchange traded funds, stocks and […]

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Former Morgan Stanley Stockbroker Barred By FINRA For Bilking Customers

December 22, 2020  |   Posted by :   |   Bond Fraud, Excessive Markups, Excessive Trading, Investment and Regulatory News, Unsuitable Investment Recommendations   |   Comments Off on Former Morgan Stanley Stockbroker Barred By FINRA For Bilking Customers

Stephen Sloane of New York New York a stockbroker formerly registered with WestPark Capital Inc. and Morgan Stanley has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on a Decision issued by FINRA’s Office of Hearing Officers who found that Sloane made unsuitable investment recommendations to customers […]

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FINRA Finally Bars Global Arena Stockbroker In Boilerroom Bond Scam

December 22, 2020  |   Posted by :   |   Boilerroom Sales, Bond Fraud, Churning, Elder Financial Abuse, Excessive Markups, Excessive Trading, Investment and Regulatory News   |   Comments Off on FINRA Finally Bars Global Arena Stockbroker In Boilerroom Bond Scam

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 […]

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Paulson Investment Company Sued For Fraud

August 27, 2020  |   Posted by :   |   Bond Fraud, Excessive Markups, Securities Arbitration Claims, Securities Fraud   |   Comments Off on Paulson Investment Company Sued For Fraud

John Alexander Tarpinian of New York New York a stockbroker formerly employed by Paulson Investment Company LLC and Newport Coast Securities Inc. has been identified in a customer initiated investment related arbitration claim which was resolved for $23,000.00 in damages founded on accusations that between February of 2013 and March of 2019, a fiduciary duty […]

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Another First Standard Stockbroker Barred For Fraud

April 08, 2020  |   Posted by :   |   Boilerroom Sales, Churning, Excessive Markups, FINRA Securities Arbitration, Margin Account Fraud, Securities Arbitration Claims, Securities Fraud, Unauthorized Trading   |   Comments Off on Another First Standard Stockbroker Barred For Fraud

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 […]

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Joseph Stone Capital Accused Of Unauthorized Trading

March 26, 2020  |   Posted by :   |   Boilerroom Sales, Excessive Markups, Excessive Trading   |   Comments Off on Joseph Stone Capital Accused Of Unauthorized Trading

David Martin Martirosian of New York New York a stockbroker currently associated with Joseph Stone Capital LLC has been referenced in a customer initiated investment related complaint which was settled on December 14, 2018 for $39,077.15 in damages supported by allegations of the customer being misled with regard to Fat Brands Inc. stock purchases effected […]

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Another First Standard Financial Broker Barred By FINRA

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 […]

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Investors Sue Transamerica For Misconduct

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 […]

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PHX Financial Accused Of Excessive Trading

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) […]

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DA Davidson Sued By Investors For Bad Investment Advice

Gregory Roy Tucker of Des Moines Iowa a stockbroker currently employed by DA Davidson Co. is referenced in a customer initiated investment related arbitration claim where the customer requested $10,000,000.00 in damages based upon allegations that between 2009 and 2018: (1) the customer was charged excessive commissions (2) important information about the customer’s corporate and […]

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Morgan Stanley Sued By Investors For Churning

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 […]

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Investor Sues Hennion Walsh For Bad Investment Advice

Joseph Ismael Rodriguez of Parsippany New Jersey a stockbroker currently employed by Hennion Walsh Inc. is the subject of a customer initiated investment related arbitration claim which settled for $47,500.00 in damages founded on accusations that the customer was placed into investment grade municipal bonds from 2013 to 2017 which failed to be appropriate for […]

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FINRA Bars J.P. Morgan Stockbroker In Investigation

Daniel M. Soliman of New York New York a stockbroker formerly employed by J.P. Morgan Securities has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that Soliman failed to cooperate with a FINRA investigation into whether FINRA Rules and federal securities laws had been violated […]

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FINRA Fines Spencer Edwards For Overcharging Customers

June 18, 2019  |   Posted by :   |   Excessive Markups, Investment and Regulatory News   |   0 Comments

Spencer Edwards Inc. a securities broker dealer headquartered in Colorado has been fined $250,000.00 by Financial Industry Regulatory Authority (FINRA) based in part on findings that the firm overcharged customers on transactions that the firm’s stockbrokers effected in the customers’ accounts. Letter of Acceptance Waiver and Consent No. 2016051209102 (June 11, 2019). According to the […]

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Windsor Street Capital Expelled By FINRA For Fraud

Windsor Street Capital L.P. (formerly known as Meyers Associates L.P.) has been expelled from Financial Industry Regulatory Authority (FINRA) membership, and Arthur Tacopino and Edwin Rodriguez (Windsor Street Capital’s associates) have been barred from associating with any FINRA member in any capacity, all according to a Default Decision issued by FINRA’s Office of Hearing Officers […]

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J.W. Korth Sanctioned For Overcharging Customers

J.W. Korth Company a securities broker dealer headquartered in Lansing Michigan has been censured by Financial industry Regulatory Authority (FINRA) according to a National Adjudicatory Council Decision affirming a Hearing Panel’s findings of the firm overcharging customers on municipal and corporate debt securities transactions effected in customers’ accounts. In the matter of Department of Enforcement […]

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Buckman Buckman Reid Admits To Failure To Supervise Rogue Brokers

Buckman Buckman Reid Inc. a securities broker dealer headquartered in Little Silver New Jersey has been censured by Financial Industry Regulatory Authority (FINRA) based upon findings that (1) Buckman Buckman Reid Inc. neglected to create and implement a supervision system and written supervisory procedures regarding the suitability of trades recommended by stockbrokers of the firm […]

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Aegis Capital Stockbroker Barred By FINRA For Churning

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 […]

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Oppenheimer Accused By Investors Of Churning

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 […]

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ProEquities Caught Excessively Charging Customers

ProEquities Inc. a brokerage firm headquartered in Birmingham Alabama has been censured by Financial Industry Regulatory Authority (FINRA) based upon consenting to findings that it excessively charged customers who purchased mutual funds through the firm. Letter of Acceptance Waiver and Consent No. 2016052179401 (Mar. 7, 2019). According to the AWC, a variety of mutual fund […]

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FINRA Charges Aegis Capital Corp Broker With Fraud

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 […]

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Titan Securities Sued By Investors For Failure To Supervise

Brad Curtis Brooks of Addison Texas, a stockbroker and supervisor currently registered with Titan Securities of Addison Texas (CRD No. 131392) , is referenced in a customer initiated investment related arbitration claim which was resolved for $9,850.00 in damages founded on allegations that Brooks failed to supervise a customer’s investments in limited partnership interest or […]

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Alexander Capital Broker Barred In Boilerroom Investigation

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 […]

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Investors Sue Ameriprise For REIT Sales

Carroll Thomas Clark Jr. (also known as Tom Clark) of Miami Florida a stockbroker formerly employed by Ameriprise Financial Services Inc. is referenced in a customer initiated investment related arbitration claim where the customer sought $75,000.00 in damages supported by accusations that (1) investment recommendations concerning real estate securities were not suitable for the customer […]

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FINRA Bars Craig Scott Capital Broker For Churning

Edward Beyn of New York New York a stockbroker formerly registered with Craig Scott Capital LLC is the subject of a Financial Industry Regulatory Authority (FINRA) National Adjudicatory Council Decision which affirms FINRA’s Hearing Panel’s decision to bar Beyn because (1) Beyn effected excessive trades in customer accounts (2) Beyn churned customers’ investment portfolios and […]

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NTB Financial Caught Overcharging Customers

NTB Financial Corporation of Centennial Colorado has been censured and fined $45,000.00 by Financial Industry Regulatory Authority (FINRA) supported by allegations that the firm overcharged customers on corporate bond transactions. Letter of Acceptance Waiver and Consent No. 2015047738901 (Dec. 10, 2018). Letter of Acceptance Waiver and Consent No. 2015047738901 (Dec. 10, 2018). According to the […]

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FINRA Bars Caldwell Broker In Investigation

Alain J. Florestan of New York New York a stockbroker formerly registered with Caldwell International Securities has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity according to a Default Decision containing findings that (1) Florestan made unsuitable investment recommendations to customers and (2) Florestan failed to cooperate in […]

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Stockbroker Misconduct Continues to Plague Investors

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 […]

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FINRA Fines Maxim Group Broker For Misconduct

Eric Howard Kunis of Woodbury New York a stockbroker formerly registered with Maxim Group LLC has been fined $2,500.00 and suspended for two months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings that Kunis executed unsuitable trading in eleven Maxim Group LLC customer accounts. Letter of Acceptance […]

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Investors Sue Worden Capital For Typical Boilerroom Conduct

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 […]

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