Excessive Trading

Archive | Excessive Trading

Spartan Stockbroker Investigated By FINRA For Churning

January 03, 2021  |   Posted by :   |   Boilerroom Sales, Churning, Excessive Trading, FINRA Securities Arbitration, Investment and Regulatory News   |   Comments Off on Spartan Stockbroker Investigated By FINRA For Churning

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). […]

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SW Stockbroker Investigated For Excessive Trading

January 03, 2021  |   Posted by :   |   Boilerroom Sales, Churning, Excessive Trading, FINRA Securities Arbitration, Investment and Regulatory News   |   Comments Off on SW Stockbroker Investigated For Excessive Trading

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 […]

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Legend Securities Named In Securities Arbitration Claim By Investors For Churning

January 03, 2021  |   Posted by :   |   Boilerroom Sales, Churning, Excessive Trading, FINRA Securities Arbitration, Investment and Regulatory News, Unsuitable Investment Recommendations   |   Comments Off on Legend Securities Named In Securities Arbitration Claim By Investors For Churning

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 […]

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Investors File Securities Arbitration Claim Against Merrill Lynch For Misrepresentation

December 22, 2020  |   Posted by :   |   Excessive Trading, FINRA Securities Arbitration, Investment and Regulatory News, Unsuitable Investment Recommendations, Variable Annuites   |   Comments Off on Investors File Securities Arbitration Claim Against Merrill Lynch For Misrepresentation

Francisco Javier Valenzuela of Tucson Arizona a stockbroker formerly registered with Merrill Lynch Pierce Fenner Smith Incorporated is the subject of a customer initiated investment related arbitration claim where the customer requested $500,000.00 in damages founded on allegations that investment recommendations made to the customer were not suitable and that misrepresentations had been made by […]

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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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Merrill Lynch Stockbroker Barred For Unsuitable ETF Trading

December 22, 2020  |   Posted by :   |   Excessive Trading, FINRA Securities Arbitration, Inverse/Leveraged ETF Funds, Investment and Regulatory News, Unsuitable Investment Recommendations   |   Comments Off on Merrill Lynch Stockbroker Barred For Unsuitable ETF Trading

Charles Ernest Kenahan of Boston Massachusetts a stockbroker formerly registered with Merrill Lynch Pierce Fenner Smith has been barred by New Hampshire Department of State Bureau of Securities Regulation founded on accusations of Kenahan making unsuitable investment recommendations to a customer of Merrill Lynch. Consent Order No. COM2019-000 (Dec. 7, 2020). According to the Order, […]

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Investors File FINRA Securities Arbitration Claim Aegis For Excessive Trading

December 07, 2020  |   Posted by :   |   Boilerroom Sales, Churning, Excessive Trading, FINRA Securities Arbitration, Investment and Regulatory News   |   Comments Off on Investors File FINRA Securities Arbitration Claim Aegis For Excessive Trading

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 […]

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Ameriprise Terminates Stockbroker For Churning Fixed Income Securities

December 07, 2020  |   Posted by :   |   Bond Fraud, Excessive Trading, Investment and Regulatory News   |   Comments Off on Ameriprise Terminates Stockbroker For Churning Fixed Income Securities

Eric Travis Roark of New York New York a stockbroker formerly registered with Ameriprise Financial Services has been discharged by the securities broker dealer on July 14, 2020 based upon accusations that Roark effected excessive fixed income securities trades in violation of company policy. Roark has been identified in two customer initiated investment related disputes […]

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Laidlaw Company Bring FINRA Arbitration Claim Against By Investors For Churning

December 01, 2020  |   Posted by :   |   Boilerroom Sales, Churning, Excessive Trading, Securities Arbitration Claims   |   Comments Off on Laidlaw Company Bring FINRA Arbitration Claim Against By Investors For Churning

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 […]

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Investors Bring FINRA Arbitration Claim Against Spartan Capital For Misrepresentation

December 01, 2020  |   Posted by :   |   Boilerroom Sales, Elder Financial Abuse, Excessive Trading, Securities Arbitration Claims, Unauthorized Trading   |   Comments Off on Investors Bring FINRA Arbitration Claim Against Spartan Capital For Misrepresentation

Marlon O. Cole of New York New York a stockbroker formerly registered with Spartan Capital Securities is the subject of a customer initiated investment related arbitration claim which was resolved for $20,000.00 in damages based upon accusations of unsuitable margin use and the breach of a fiduciary duty by Cole concerning his over-the-counter equities transactions […]

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FINRA Bars McNally Stockbroker In Investigation

November 30, 2020  |   Posted by :   |   Churning, Excessive Trading, FINRA Securities Arbitration, Investment and Regulatory News   |   Comments Off on FINRA Bars McNally Stockbroker In Investigation

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 […]

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Investors Bring FINRA Arbitration Claim Against Joseph Stone For Churning

November 04, 2020  |   Posted by :   |   Churning, Excessive Trading, Securities Arbitration Claims   |   Comments Off on Investors Bring FINRA Arbitration Claim Against Joseph Stone For Churning

Peter Joseph Mirenda of New York New York a stockbroker currently registered with Joseph Stone Capital LLC is the subject of a customer initiated investment related arbitration claim which was resolved for $216,000.00 in damages founded on allegations that trades were effected in the customer’s account on an excessive basis and that securities laws were […]

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FINRA Sanctions Network 1 Stockbroker For Churning

November 04, 2020  |   Posted by :   |   Churning, Excessive Trading, Securities Arbitration Claims, Unsuitable Investment Recommendations   |   Comments Off on FINRA Sanctions Network 1 Stockbroker For Churning

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 […]

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Another Spartan Stockbroker Investigated For Unauthorized Trading

November 04, 2020  |   Posted by :   |   Churning, Excessive Trading, Securities Arbitration Claims, Unauthorized Trading   |   Comments Off on Another Spartan Stockbroker Investigated For Unauthorized Trading

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 […]

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Capital City Securities Sanctioned For The Failure To Supervise Keener

October 08, 2020  |   Posted by :   |   Churning, Excessive Trading, Failure To Supervise, Securities Arbitration Claims, Unauthorized Trading, Unsuitable Investment Recommendations   |   Comments Off on Capital City Securities Sanctioned For The Failure To Supervise Keener

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. […]

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Monmouth Capital Stockbroker Sanctioned For Churning Investor Accounts

October 08, 2020  |   Posted by :   |   Churning, Excessive Trading, Securities Arbitration Claims, Unsuitable Investment Recommendations   |   Comments Off on Monmouth Capital Stockbroker Sanctioned For Churning Investor Accounts

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 […]

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FINRA Bars Another First Standard Stockbroker For Churing Investor Accounts

October 08, 2020  |   Posted by :   |   Boilerroom Sales, Churning, Excessive Trading, Securities Arbitration Claims   |   Comments Off on FINRA Bars Another First Standard Stockbroker For Churing Investor Accounts

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 […]

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Wells Fargo Accused Of Charging Investors Excessive Commissions

September 30, 2020  |   Posted by :   |   Excessive Trading, Securities Arbitration Claims   |   Comments Off on Wells Fargo Accused Of Charging Investors Excessive Commissions

Michael Shon Hickey of Mission Viejo California a stockbroker and investment adviser representative of Wells Fargo Clearing Services LLC is referenced in a customer initiated investment related written complaint on July 21, 2020 in which the customer requested $25,000.00 in damages founded upon accusations that the Wells Fargo customer had been charged excessive commissions as […]

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Investors Sue Securities America For Over Rogue Stockbroker

September 14, 2020  |   Posted by :   |   Elder Financial Abuse, Excessive Trading, FINRA Securities Arbitration, Securities Arbitration Claims, Securities Fraud, Unauthorized Trading   |   Comments Off on Investors Sue Securities America For Over Rogue Stockbroker

Giustino DeStefano (also known as Justin Antonio DeStefano) of Williamsville New York a stockbroker formerly employed by Merrill Lynch and Securities America is the subject of a customer initiated investment related arbitration claim which was settled for $485,000.00 in damages supported by allegations of elder abuse and the violation of California Securities Act. Financial Industry […]

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FINRA Sanctions Capital Securities Stockbroker

September 14, 2020  |   Posted by :   |   Excessive Trading, Unit Investment Trusts (UITs), Unsuitable Investment Recommendations   |   Comments Off on FINRA Sanctions Capital Securities Stockbroker

Michael Rubel of Red Bank New Jersey a stockbroker formerly registered with Capital Securities Management has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that he made unsuitable unit investment trust transactions in customer accounts at Capital Securities Management. Letter of Acceptance Waiver and Consent […]

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FINRA Sanctions Oppenheimer Stockbroker For Unsuitable Recommendations

August 27, 2020  |   Posted by :   |   Excessive Trading, Unit Investment Trusts (UITs), Unsuitable Investment Recommendations   |   Comments Off on FINRA Sanctions Oppenheimer Stockbroker For Unsuitable Recommendations

Frederick Scott Levine of Florham Park New Jersey a stockbroker formerly registered with Oppenheimer Co. Inc. has been suspended for three months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings that Levine made unsuitable rollovers of unit investment trusts in Oppenheimer customer accounts. Letter of Acceptance Waiver […]

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Investors Sue Morgan Stanley For Excessive Trading

July 20, 2020  |   Posted by :   |   Churning, Excessive Trading, Securities Arbitration Claims   |   Comments Off on Investors Sue Morgan Stanley For Excessive Trading

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 […]

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SW Financial Sued By Investors For Fraud

July 20, 2020  |   Posted by :   |   Boilerroom Sales, Breach of Fiduciary Duty, Churning, Excessive Trading, Securities Arbitration Claims, Securities Fraud   |   Comments Off on SW Financial Sued By Investors For Fraud

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 […]

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Regulator Sanctions Coastal Equities Stockbroker For Churning

July 11, 2020  |   Posted by :   |   Churning, Excessive Trading, Securities Arbitration Claims   |   Comments Off on Regulator Sanctions Coastal Equities Stockbroker For Churning

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 […]

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Investors Sue Reid Rudiger For Excessive Trading

July 11, 2020  |   Posted by :   |   Boilerroom Sales, Churning, Excessive Trading, Securities Arbitration Claims   |   Comments Off on Investors Sue Reid Rudiger For Excessive Trading

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 […]

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FINRA Bars Portfolio Advisors Stockbroker In Churning Investigation

July 11, 2020  |   Posted by :   |   Churning, Excessive Trading   |   Comments Off on FINRA Bars Portfolio Advisors Stockbroker In Churning Investigation

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. […]

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Investors Sue WestPark For Breach Of Fiduciary Duty

June 24, 2020  |   Posted by :   |   Boilerroom Sales, Churning, Excessive Trading, Securities Arbitration Claims, Unauthorized Trading, Unsuitable Investment Recommendations   |   Comments Off on Investors Sue WestPark For Breach Of Fiduciary Duty

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 […]

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Another First Standard Stockbroker Sanctioned For Excessive Trading

June 24, 2020  |   Posted by :   |   Boilerroom Sales, Churning, Excessive Trading   |   Comments Off on Another First Standard Stockbroker Sanctioned For Excessive Trading

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 […]

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Spartan Capital Sued By Investors For Misrepresentation

June 22, 2020  |   Posted by :   |   Churning, Excessive Trading, Securities Arbitration Claims   |   Comments Off on Spartan Capital Sued By Investors For Misrepresentation

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 […]

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