Mark Charles Cohen of New York, New York, a stockbroker formerly registered with BCG Securities Inc., is the subject of a customer initiated investment related FINRA securities arbitration claim which was resolved for $55,000.00 in damages based upon accusations of BCG Securities’ failure to supervise trading in the customer’s account, resulting in unsuitable real estate…
Robert James D’Andria (also known as Bobby Dandria and Bob Dandria) of Spring Lakes, New Jersey, a stockbroker currently registered with International Assets Advisory LLC, is referenced in a customer initiated investment related FINRA securities arbitration claim which was settled for $45,000.00 in damages founded on accusations of negligent supervision, fraud, unauthorized trading, breach of…
Torch Securities LLC, a securities broker dealer headquartered in Sugar Land, Texas, has been censured and fined $17,500.00 by Financial Industry Regulatory Authority (FINRA) based upon findings that Torch Securities failed to supervise private placement transactions recommended to customers. Letter of Acceptance, Waiver, and Consent No. 2019062311702 (May 6, 2022). According to the AWC, from…
Berthel Fisher Company Financial Services, a securities broker-dealer headquartered in Cedar Rapids, Iowa, has been censured and fined $100,000.00 by Financial Industry Regulatory Authority (FINRA) based in part on findings that it recommended unsuitable options to a customer and failed to supervise options trading in customer accounts. Letter of Acceptance, Waiver, and Consent No. 2018057425202…
Clifford Ronald Reid of New York, New York, a stockbroker currently registered with Reid Rudiger LLC, is identified in a customer initiated investment related FINRA securities arbitration claim which was settled for $21,000.00 in damages supported by accusations that Reid breached a fiduciary duty to the customer in reference to stock and over-the-counter equities trades…
Geneos Wealth Management, a securities broker dealer headquartered in Centennial, Colorado, has been censured and fined $150,000.00 by Financial Industry Regulatory Authority (FINRA) based upon allegations that it failed to supervise alternative investment transactions, resulting in losses to Geneos Wealth Management customers. Letter of Acceptance, Waiver, and Consent No. 2019061764701 (March 18, 2022). According to…
Vorpahl Wing Securities and Tim James Vorpahl (President and CCO), of Spokane, Washington, have been sanctioned by Financial Industry Regulatory Authority (FINRA) based upon findings that the firm and Vorpahl failed to supervise suitability of securities transactions and failed to supervise trading, resulting in excessive trading in Vorpahl Wing Securities customer’s accounts. Letter of Acceptance,…
David Michael Lademan of Okemos Michigan, a stockbroker formerly registered with Kalos Capital Inc., is referenced in a customer initiated investment related FINRA arbitration claim in which the customer sought up to $500,000.00 in damages founded on allegations of negligent supervision and breach of contract concerning private placements and real estate securities through Lademan at…
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…
Worden Capital Management LLC, a securities broker dealer headquartered in Garden City, New York, has been charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement with failing to supervise private placement offerings, including its failure to conduct due diligence to ensure that investments were suitable for investors. Department of Enforcement v. Worden Capital Management…
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…
Vincent Leonard Petrangelo, of Springfield, Massachusetts, a stockbroker formerly registered with Raymond James Associates Inc., is the subject of a customer initiated investment related FINRA securities arbitration claim in which the customer sought compensatory damages founded on allegations of failure to supervise stock and mutual fund trading in the customer’s account when Petrangelo was employed…
CIM Securities LLC, a securities broker dealer headquartered in Centennial, Colorado, has been censured and fined $35,000.00 by Financial Industry Regulatory Authority (FINRA) founded on findings that CIM Securities failed to supervise suitability requirements for private placement transactions. Letter of Acceptance, Waiver, and Consent No. 2019060957101 (January 31, 2022). According to the AWC, from September…
Sean Joseph Kelly, of Marietta, Georgia, a stockbroker formerly registered with Center Street Securities Inc., is identified in a customer initiated investment related, FINRA Securities Arbitration claim in which the customer sought $160,000.00 in damages based upon accusations of misrepresentations and unsuitable investments by Kelly regarding alternative investments sold to the customer while Kelly was…
Travis Justin Lippmann, 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 Lippmann’s unsuitable trading of over-the-counter equities during the time that he was associated…
Charles Lewis Bloom, of Royal Palm Beach, Florida, a stockbroker formerly registered with Chelsea Financial Services and International Assets Advisory, is identified in a customer initiated investment related FINRA arbitration claim which was settled for $40,000.00 in damages based upon allegations that the customer was defrauded by investing in direct investments including direct participation programs…
Triad Advisors LLC, a securities broker dealer headquartered in Atlanta, Georgia, has been censured and fined $195,000.00 by Financial Industry Regulatory Authority (FINRA) based in part on findings that Triad Advisors failed to supervise stockbrokers’ recommendations of alternative mutual funds, including the LJM Preservation and Growth Fund (LJM), which resulted in losses to Triad Advisors’…
SagePoint Financial Inc., a securities broker dealer headquartered in Phoenix, Arizona, has been censured and fined $700,000.00 by Financial Industry Regulatory Authority (FINRA), supported by findings that SagePoint failed to supervise stockbrokers who were the subject of misconduct, and it failed to supervise its reporting of wrongdoing by those who associated with the securities broker…
Merrill Lynch Pierce Fenner Smith Inc., a securities broker dealer headquartered in New York, New York, has been censured and fined $1,200,000.00 by Financial Industry Regulatory Authority (FINRA), founded on findings that it failed to comply with FINRA during two misconduct investigations. Letter of Acceptance, Waiver, and Consent No. 2018058015702 (December 20, 2021). According to…
Joseph Scott Audia, of Hauppauge, New York, a stockbroker formerly registered with Joseph Stone Capital LLC, has been fined $5,000.00 and suspended for two months from associating with any Financial Industry Regulatory Authority (FINRA) member in any principal capacity based upon findings that he failed to supervise a stockbroker, resulting in excessively trading in a…
Scott Randall Martinson, of Staten Island, New York, a stockbroker formerly registered with First Standard Financial Company LLC, has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that he failed to adequately supervise a stockbroker which resulted in unsuitable and excessive trading…
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…
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…
Wells Fargo Clearing Services and Wells Fargo Advisors Financial Network, of St. Louis, Missouri, have been censured and collectively fined $650,000.00 by Financial Industry Regulatory Authority (FINRA) based on findings that Wells Fargo failed to supervise stockbrokers’ unit investment trust trades in customer accounts. Letter of Acceptance, Waiver, and Consent No. 2016050947801 (December 13, 2021)….
Emerson Equity LLC and its Chief Executive Officer, Dominic Julio Baldini, of San Mateo, California, have been sanctioned by Financial Industry Regulatory Authority (FINRA), supported by findings that they failed to supervise stockbrokers’ trading of mutual funds in customer accounts, resulting in unsuitable short-term switching of mutual funds by one of the Emerson Equity stockbrokers…
John R. Mateyko, of Rolling Meadows, Illinois, a stockbroker formerly registered with World Equity Group, Inc., is identified in a customer initiated investment related FINRA securities arbitration claim where the customer sought $500,000.00 in damages based upon allegations that Mateyko made misrepresentations regarding business development programs and real estate investment trusts between 2014 and 2018…
Pasquale James Rappa (also known as James Rappa or PJ Rappa), of Miller Place, New York, a stockbroker formerly registered with First Standard Financial Company LLC, has been fined $5,000.00 and suspended for two months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings that he failed to…
Robert Patrick Foley, of Red Bank, New Jersey, a stockbroker formerly registered with Wynston Hill Capital LLC, has been fined $5,000.00 and suspended for four months from associating with any Financial Industry Regulatory Authority (FINRA) member in any principal capacity supported by findings that Foley failed to supervise stockbrokers who excessively traded in customer accounts…
Darren Michael Kubiak, of Alpharetta, Georgia, a stockbroker formerly registered with Kalos Capital Inc., is referenced in a customer initiated investment related FINRA securities arbitration claim in which the customer requested $1,000,000.00 in damages founded on accusations of breach of fiduciary duty and the violation of securities laws regarding preferred stock, real estate security, and…
Traderfield Securities Inc. and supervisor Mario Divita, of Flushing, New York, have been sanctioned by Financial Industry Regulatory Authority (FINRA) according to findings that Traderfield and Divita failed to supervise stockbrokers resulting in excessive trading in customer accounts. Letter of Acceptance, Waiver, and Consent No. 2018059045003 (November 24, 2021). According to the AWC, from December…
Efrain Balderrama Trujillo, of Los Angeles, California, a stockbroker formerly registered with Western International Securities Inc., was discharged by the securities broker dealer on October 26, 2021, supported by accusations that he borrowed money from a customer. Financial Industry Regulatory Authority (FINRA) Public Disclosure additionally reveals that Trujillo has been fined $20,000.00 and barred from…
Clifford Edward Bryan III, of Merrillville, Indiana, a stockbroker formerly registered with Wells Fargo Clearing Services, is referenced in a customer initiated investment related FINRA securities arbitration claim which was resolved for $695,000.00 in damages founded on accusations that Bryan failed to supervise a stockbroker’s recommendations in a customer’s account at Wells Fargo Clearing Services….
WestPark Capital Inc. and its CEO, Richard Alyn Rappaport (also known as Rick Rappaport), of Los Angeles, California, have been sanctioned by Financial Industry Regulatory Authority (FINRA) based on findings that WestPark and Rappaport misrepresented information to customers concerning WPCFS offerings, and failed to supervise stockbrokers’ solicitations of investments. Letter of Acceptance, Waiver, and Consent…
McNally Financial Services Corporation, a securities broker dealer headquartered in San Antonio, Texas, has been censured and fined $35,000.00 by Financial Industry Regulatory Authority (FINRA) based upon accusations that it failed to supervise stockbrokers’ sales of nontraditional exchange traded funds. Letter of Acceptance, Waiver, and Consent No. 2018058820103 (November 23, 2021). According to the AWC,…
Craig Jay Sherman of Fletcher, North Carolina, a stockbroker formerly registered with Wynston Hill Capital LLC, has been fined $5,000.00 and suspended for four months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that he failed to supervise stockbrokers’ trading at Wynston Hill. Letter of Acceptance Waiver…
Aegis Capital Corp of New York, New York, has been censured and fined $1,050,000.00 by Financial Industry Regulatory Authority (FINRA) based in part on findings that it failed to supervise stockbrokers resulting in unsuitable and excessive trading in customer accounts. Letter of Acceptance Waiver and Consent No. 2016051704305 (November 8, 2021). According to the AWC,…
Richard Michael Wesselt (also known as Rich Wesselt and as Richard M. Wesselt), of Collegeville, Pennsylvania, a stockbroker formerly registered with Fortune Financial Services and The ON Equity Sales Company (ONESCO), is referenced in a regulatory action by the State of Maryland resulting in the revocation of his stockbroker license in the state. Case No….
Mark Alan Haenny of Loveland Colorado a stockbroker formerly registered with First Allied Securities Inc. is referenced in a customer initiated investment related FINRA securities arbitration claim which was settled for $55,000.00 in damages based upon accusations including negligence and unsuitable recommendations by Haenny as it pertained to LPs and DPPs during the period that…
Damian Marlon Bell of Daphne Alabama a stockbroker formerly registered with WFG Investments Inc. is the subject of a customer initiated investment related FINRA securities arbitration claim where the customer sought $50,000.00 in damages supported by accusations of breach of contract and breach of fiduciary duty regarding direct investments, including direct participation programs and limited…
Spartan Capital Securities a securities broker dealer headquartered in Manhattan New York—along with John D. Lowry (co-founder and CEO of Spartan) and Kim M. Monchik (CCO of Spartan)—have been charged by Financial Industry Regulatory Authority Department of Enforcement with failing to disclose reportable events concerning Spartan stockbrokers, including customer complaints and arbitrations. Department of Enforcement…
NYLife Securities LLC a securities broker dealer headquartered in New York New York has been censured and fined $200,000.00 by Financial Industry Regulatory Authority (FINRA) supported by findings that it failed to create and implement a supervision system and written supervisory procedures relating to the suitability of mutual fund switching, resulting in unsuitable short-term trades…
Andrew W. Topka of Mount Pleasant South Carolina a stockbroker formerly registered with Kalos Capital Inc. is the subject of a customer initiated investment related FINRA securities arbitration claim which was settled for $152,923.00 in damages based on accusations that the customer’s account had been overconcentrated in alternative investments by Topka when he was employed…
Jamie John Worden of New York New York the Owner and CEO of Worden Capital Management LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that he failed to comply with FINRA’s investigation into a private placement offering of pre-IPO securities through Worden Capital…
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…
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…
Vincent Anthony Virga (also known as Vincenzo Anthony Virga) of Bayonne New Jersey a stockbroker formerly registered with Madison Avenue Securities LLC is referenced in a customer initiated investment related FINRA securities arbitration claim where the customer requested $495,000.00 in damages based on allegations that Virga provided unsuitable advice to them regarding alternative investments including…
Robert Scott Smith of Newberg Oregon a stockbroker formerly registered with Concorde Investment Services is the subject of a customer initiated investment related written complaint on May 10, 2021 in which the customer sought $678,500.00 in damages supported by accusations that they had been sold unsuitable private placements by Smith while he was registered with…
Jeremy Seth Rosen of Easton Pennsylvania a stockbroker formerly registered with Nationwide Planning Associates Inc. is the subject of a customer initiated investment related FINRA securities arbitration claim in which the customer sought $1,535,568.66 in damages founded on allegations that Rosen made misrepresentations to them regarding stock trades during the period that he was associated…
Jonathan Todd Pyne of Plymouth Minnesota a stockbroker currently registered with Berthel Fisher Company Financial Services Inc. has been referenced in a customer initiated investment related FINRA securities arbitration claim in which the customer requested $116,000.00 in damages based upon accusations of misrepresentation relating to their investments in real estate securities while Pyne was associated…
Andes Capital Group LLC a securities broker dealer headquartered in Chicago Illinois has been censured and fined $15,000.00 by Financial Industry Regulatory Authority (FINRA) supported by findings that Andes Capital Group failed to supervise its stockbroker’s private securities transactions. Letter of Acceptance Waiver and Consent No. 2019064979901 (Aug. 25, 2021). According to the AWC, in…
Ramiro Luis Colon III (also known as Ramiro Luis Colon Ortiz III) of Miami Florida a stockbroker formerly registered with UBS Financial Services is referenced in a customer initiated investment related FINRA securities arbitration claim in which the customer requested $1,421,565.59 in damages supported by accusations that Colon failed to supervise municipal bond and closed…
Steven Paul Reznik of Tallahassee Florida a stockbroker formerly registered with Raymond James Financial Services is referenced in a customer initiated investment related FINRA securities arbitration claim which was resolved for $100,000.00 in damages based on allegations that the customer was sold unsuitable equities by Reznik while he was associated with Raymond James Financial Services….
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…
Jeffrey John Kartheiser of Sun City Center Florida a stockbroker formerly registered with Raymond James Financial Services has been ordered by Florida Office of Financial Regulation to pay a $20,000.00 fine, to cease and desist violating securities laws or rules in Florida, and to refrain from any supervisory or managerial duties in the securities industry…
Dominic Anthony Tropiano of Cleveland Ohio a stockbroker formerly registered with America Northcoast Securities Inc. has been barred by Securities and Exchange Commission (SEC) from being a stockbroker or investment adviser representative based on accusations that Tropiano effected unauthorized and unsuitable transactions in customer accounts causing customers to experience more than $1,000,000.00 in losses. SEC…
Walter Warren Parker of Rowlett Texas a stockbroker formerly registered with Titan Securities is the subject of a customer initiated investment related FINRA securities arbitration claim where the customer sought $95,000.00 in damages supported by accusations of negligence regarding the sale of interests in a private placement and the sale of a real estate security…
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…
Sanctuary Securities (formerly known as David A. Noyes Company) has been censured and fined $160,000.00 by Financial Industry Regulatory Authority (FINRA) founded on findings that Sanctuary Securities failed to supervise its non-traditional exchange traded fund (NT-ETF) business to ensure that stockbrokers executed suitable transactions. Letter of Acceptance Waiver and Consent No. 2019060694201 (July 1, 2021)….
NEXT Financial Group a securities broker dealer headquartered in Houston Texas has been censured and fined $750,000.00 by Financial industry Regulatory Authority (FINRA) founded on findings that NEXT Financial Group failed to supervise its stockbrokers’ transactions resulting in unsuitable municipal bond and mutual fund transactions in customer accounts. Letter of Acceptance Waiver and Consent No….
Robinhood Financial LLC a securities broker dealer headquartered in Menlo Park California has been censured and fined $57,000,000.00 by Financial Industry Regulatory Authority (FINRA) based in part on findings that Robinhood Financial provided customers with misleading and false information about their accounts, authorized margin use in the accounts of customers against their wishes, and failed…
Farmers Financial Solutions LLC a securities broker dealer headquartered in Westlake Village California has been censured and fined $100,000.00 by Financial Industry Regulatory Authority (FINRA) supported by findings that the securities broker dealer failed to supervise its mutual fund business and its variable universal life insurance business. Letter of Acceptance, Waiver and Consent No. 2017052173001…
Cesar Gabriel Hernandez of Old Bridge New Jersey a stockbroker formerly registered with Gentem Capital LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings that he failed to cooperate with a FINRA investigation concerning his involvement in a customer identification program. Letter of Acceptance…
Merrill Lynch Pierce Fenner Smith Incorporated a securities broker dealer headquartered in New York New York has been censured and fined $3,250,000.00 by Financial Industry Regulatory Authority (FINRA) based upon findings that Merrill Lynch failed to supervise its stockbrokers’ recommendations of unit investment trusts resulting in customers being overcharged on UIT transactions. Letter of Acceptance…
Titan Securities a securities broker dealer headquartered in Addison Texas has been censured and fined $20,000.00 by Financial Industry Regulatory Authority (FINRA) based on findings that Titan Securities failed to supervise outside business activities of its stockbrokers. Letter of Acceptance Waiver and Consent No. 2019061705101 (June 8, 2021). According to the AWC, a Titan Securities…
UnionBanc Investment Services LLC a securities broker dealer headquartered in Glendale California has been censured and fined $100,000.00 by Financial Industry Regulatory Authority (FINRA) founded on findings that UnionBanc failed to supervise its variable annuity transactions. Letter of Acceptance Waiver and Consent No. 2019062972401 (May 5, 2021). According to the AWC, between January of 2016…
Calton Associates Inc. a securities broker dealer headquartered in Tampa Florida has been censured and fined $250,000.00 by Financial Industry Regulatory Authority (FINRA) supported by findings of Calton Associates failing to supervise sales of volatility-linked exchange traded products which resulted in customers’ experiencing losses on unsuitable transactions. Letter of Acceptance Waiver and Consent No. 2018060466201…
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,…
Independent Financial Group LLC a securities broker dealer headquartered in San Diego California has been censured and fined $200,000.00 by Financial Industry Regulatory Authority (FINRA) supported by findings that it failed to supervise a stockbroker who made unsuitable recommendations to customers. Letter of Acceptance Waiver and Consent No. 2018059223401 (Apr. 8, 2021). According to the…
ON Equity Sales Company Inc. (ONESCO) a securities broker dealer headquartered in Cincinnati Ohio has been censured and fined $275,000.00 by Financial Industry Regulatory Authority (FINRA) supported by findings that ONESCO failed to supervise sales of variable annuities resulting in a stockbroker having made unsuitable recommendations to customers of the firm. Letter of Acceptance Waiver…
American Independent Securities Group LLC (AISG) a securities broker dealer headquartered in Eagle Idaho together with AISG securities principals Ryan Carlson and Nicholas Cioffi have been sanctioned by Financial Industry Regulatory Authority (FINRA) based upon findings that they failed to supervise the sales of collateralized mortgage-backed securities (CMOs) resulting in losses to customers. Letter of…
JW Cole Financial Inc. a securities broker dealer headquartered in Tampa Florida has been censured and fined $50,000.00 by Financial Industry Regulatory Authority (FINRA) based upon findings that the securities broker dealer failed to supervise its stockbrokers’ recommendations of alternative investments. Letter of Acceptance Waiver and Consent No. 2019061764801 (Mar. 18, 2021). According to the…
Cabot Lodge Securities LLC a securities broker dealer headquartered in New York has been censured and fined $270,000.00 by Financial Industry Regulatory Authority (FINRA) according to an Order Accepting Offer of Settlement which contains findings of Cabot Lodge failing to supervise REIT offerings and providing unsuitable recommendations to customers. Department of Enforcement v. Cabot Lodge…
Corey Andrew White of Westlake Village California a stockbroker formerly registered with Financial West Group has been fined $20,000.00 and barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any supervisory or principal capacity founded on findings that he failed to supervise his stockbrokers’ trading resulting in unsuitable alternative investment trading in…
David Nathan Hale of San Francisco California a stockbroker currently registered with Purshe Kaplan Sterling Investments is referenced in a customer initiated investment related written complaint which was settled on April 23, 2019 for $12,113.11 in damages founded on allegations that the customer’s investment account had been subject of “reverse churning” by Hale as it…
Jack Howard Owens Jr. of Lady Lakes Florida a stockbroker formerly registered with Gradient Securities LLC is the subject of a customer initiated investment related FINRA securities arbitration claim which was resolved for $17,500.00 in damages supported by accusations that there was a breach of fiduciary duty by the stockbroker and that the customer’s annuity…
Triad Advisors LLC a securities broker dealer headquartered in Atlanta Georgia has been censured and fined $150,000.00 by Financial Industry Regulatory Authority (FINRA) based on findings of Triad’s failure to supervise its stockbrokers’ transactions resulting in unsuitable trades being effected in customers’ accounts. Letter of Acceptance Waiver and Consent No. 2017052330501 (Feb. 9, 2021). According…
Scott Alan Sanders of Fort Myers Florida a stockbroker formerly registered with Stifel Nicolaus Co. Inc. is the subject of a customer initiated investment related FINRA securities arbitration claim in which the customer was awarded $100,000.00 in damages supported by Stifel Nicolaus being found liable on the customer’s claims including breach of contract and breach…
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…
David Charles Turetzky of Saddle Brook New Jersey a stockbroker currently registered with Ameriprise Financial Services LLC is the subject of a customer initiated investment related FINRA securities arbitration claim in which the customer sought $500,000.00 in damages founded on allegations of sales practice violations pertaining to the customer’s account at Ameriprise. Financial Industry Regulatory…
Whitehall-Parker Securities Inc. and its supervisor Robert J. Yuloo both of San Rafael California have been sanctioned by Financial Industry Regulatory Authority (FINRA) supported by findings of Whitehall-Parker and Yuloo having failed to supervise its stockbrokers’ outside business activities. Letter of Acceptance Waiver and Consent No. 2017052705802 (Jan. 15, 2021). According to the AWC, from…
Gary Wayne Hammond of Charlotte North Carolina a stockbroker formerly registered with Hornor Townsend Kent Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings that he was selling away from MML Investors and that he referred customers to fraudulent investments. Letter of Acceptance Waiver…
Transamerica Financial Advisors Inc. a securities broker dealer headquartered in Saint Petersburg Florida has been censured and fined $4,400,000.00 by Financial Industry Regulatory Authority (FINRA) founded on findings including that Transamerica failed to supervise securities transactions and investment recommendations that its stockbrokers made to customers. Letter of Acceptance Waiver and Consent No. 2015048250401 (Dec. 21,…
Jason Paul Collichio of Garden City New York a stockbroker currently registered with Worden Capital Management LLC has been fined $5,000.00 and suspended for three months from associating with any Financial Industry Regulatory Authority (FINRA) member in A PRINCIPAL capacity based upon findings that he did not supervise Worden Capital Management stockbrokers who excessively traded…
LPL Financial LLC a securities broker dealer headquartered in Fort Mill South Carolina has been censured and fined $6,500,000.00 based in part on findings that LPL failed to supervise its stockbrokers’ dissemination of consolidated reports to customers resulting in some of its customers being defrauded by an LPL stockbroker. Letter of Acceptance Waiver and Consent…
Cetera Advisor Networks LLC, Cetera Advisors LLC and Cetera Financial Specialists LLC have been censured and collectively fined $1,000,000.00 by Financial Industry Regulatory Authority (FINRA) founded on findings of the securities firms’ failure to supervise their stockbrokers’ private securities transactions and failure to preserve records relating to those outside transactions. Letter of Acceptance Waiver and…
RBC Capital Markets LLC a securities broker dealer headquartered in New York New York has been fined and censured by Financial Industry Regulatory Authority (FINRA) founded on findings that RBC failed to supervise stockbrokers’ recommendations of securities that were held in customers’ 529 plans. Letter of Acceptance Waiver and Consent No. 2016047696701 (Dec. 15, 2020)….
PHX Financial Inc. a securities broker dealer headquartered in New York New York and Robert Delaplain (branch supervisor and Chief Compliance Officer) have been censured and fined by Financial Industry Regulatory Authority (FINRA) supported by findings that PHX and Delaplain neglected to supervise stockbrokers who effected unsuitable transactions in customer accounts. Letter of Acceptance Waiver…
Robert Joseph Calamunci Sr. of Bronx New York a stockbroker currently registered with Wynston Hill Capital LLC is the subject of a customer initiated investment related arbitration claim in which the customer requested $314,852.00 in damages based upon accusations of the failure of Wynston Hill Capital LLC to supervise options and equities in the customer’s…
Jeffrey Lamar Burton of Charleston South Carolina a supervising stockbroker of Wells Fargo Advisors Financial Network is referenced in a customer initiated investment related written complaint which was settled for $100,000.00 on September 17, 2020 founded on allegations that trades failed to be made according to the customer’s instructions while Burton was registered with Wells…
Brett Stephen Briggs of Los Angeles California a stockbroker and supervisor formerly registered with Financial West Group has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any principal capacity and has been fined $20,000.00 supported by findings that he failed to supervise stockbrokers at Financial West Group. Letter of Acceptance…
Sebastian Wyczawski of Manorville New York a stockbroker currently registered with Joseph Stone Capital LLC has been referenced in a customer initiated investment related arbitration claim where the customer requested $235,635.00 in damages based upon accusations that Wyczawski failed to supervise a stockbroker who effected unsuitable over-the-counter equities trades in the customer’s Joseph Stone Capital…
Joseph Victor Alhadeff of New York New York a stockbroker formerly registered with National Securities Corporation has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that Alhadeff neglected to cooperate with FINRA during its investigation into Alhadeff’s supervision of a stockbroker who was associated with…
National Securities Corporation a securities broker dealer headquartered in Boca Raton Florida has been censured and fined $125,000.00 by Financial Industry Regulatory Authority (FINRA) based upon findings that it did not timely report customer complaints and failed to supervise contingency offerings. Letter of Acceptance Waiver and Consent No. 2017053208002 (Oct. 27, 2020). According to the AWC,…
Robert Joseph Kerrigan Senior of Scottsdale Arizona a stockbroker formerly employed by First Financial Equity Corporation is referenced in a customer initiated investment related arbitration claim which was settled for $40,000.00 in damages supported by accusations that a fiduciary duty that was owed to the customer had been breached and that First Financial Equity Corporation…
Coastal Equities Inc. a securities broker dealer headquartered in Wilmington Delaware has been censured by Financial Industry Regulatory Authority (FINRA) supported by findings that Coastal Equities failed to supervise a stockbroker who recommended unsuitable and excessive trades for the accounts of Coastal Equities customers. Letter of Acceptance Waiver and Consent No. 2017052325702 (Nov. 9, 2020)….
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…
Efrain Balderrama Trujillo 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 principal capacity and has been fined $20,000.00 based upon findings that he neglected to supervise those of his stockbrokers who executed unsuitable securities and options…
Darren Michael Kubiak of Alpharetta Georgia a stockbroker formerly employed by Kalos Capital Inc. is the subject of a customer initiated investment related arbitration claim which was settled for $250,000.00 in damages based upon allegations that a contract had been breached and that a fiduciary duty that was owed to the customer had been breached…
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….