Failure To Supervise

Archive | Failure To Supervise

FINRA Sanctions UnionBanc For Failure To Supervise

June 12, 2021  |   Posted by :   |   Failure To Supervise, Investment and Regulatory News, Variable Annuites   |   Comments Off on FINRA Sanctions UnionBanc For Failure To Supervise

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 […]

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Calton Associates Sanctioned For Failure To Supervise

May 31, 2021  |   Posted by :   |   Failure To Supervise, Inverse/Leveraged ETF Funds, Investment and Regulatory News   |   Comments Off on Calton Associates Sanctioned For Failure To Supervise

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 […]

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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 […]

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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, […]

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IFG Sanctioned By FINRA For Failure To Supervise

May 15, 2021  |   Posted by :   |   Alternative Investments, Elder Financial Abuse, Failure To Supervise, Investment and Regulatory News, Non-traded REITs   |   Comments Off on IFG Sanctioned By FINRA For Failure To Supervise

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 […]

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ONESCO Sanctioned By FINRA For Failure To Supervise

May 15, 2021  |   Posted by :   |   Failure To Supervise, Investment and Regulatory News, Variable Annuites   |   Comments Off on ONESCO Sanctioned By FINRA For Failure To Supervise

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 […]

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AISG Sanctioned By FINRA For Failure To Supervise CMOs

April 18, 2021  |   Posted by :   |   Failure To Supervise, Investment and Regulatory News   |   Comments Off on AISG Sanctioned By FINRA For Failure To Supervise CMOs

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 […]

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FINRA Sanctions JW Cole For Failure To Supervise Alternative Investment Sales

April 18, 2021  |   Posted by :   |   Alternative Investments, Failure To Supervise, Investment and Regulatory News   |   Comments Off on FINRA Sanctions JW Cole For Failure To Supervise Alternative Investment Sales

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 […]

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Cabot Lodge Sanctioned For Failure To Supervise REIT Sales

April 18, 2021  |   Posted by :   |   Elder Financial Abuse, Failure To Supervise, Investment and Regulatory News, Non-traded REITs   |   Comments Off on Cabot Lodge Sanctioned For Failure To Supervise REIT Sales

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 […]

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Investors File Securities Arbitration Claim Against First Allied Securities

March 31, 2021  |   Posted by :   |   Alternative Investments, Breach of Fiduciary Duty, Business Development Companies, Failure To Supervise, FINRA Securities Arbitration, Investment and Regulatory News, Unsuitable Investment Recommendations   |   Comments Off on Investors File Securities Arbitration Claim Against First Allied Securities

Jeffrey Guy Labelle (also known as Jeff Labelle) of Sarasota Florida a stockbroker formerly registered with First Allied Securities is referenced in a customer initiated investment related FINRA securities arbitration claim in which the customer requested $150,000.00 in damages founded on accusations that the customer’s First Allied Securities account had been negligently supervised and that […]

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Financial West Group Stockbroker Sanctioned By FINRA

March 31, 2021  |   Posted by :   |   Failure To Supervise, Inverse/Leveraged ETF Funds, Investment and Regulatory News   |   Comments Off on Financial West Group Stockbroker Sanctioned By FINRA

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 […]

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Investors Accuse Purshe Kaplan Of Reverse Churning

March 31, 2021  |   Posted by :   |   Failure To Supervise, FINRA Securities Arbitration, Investment and Regulatory News   |   Comments Off on Investors Accuse Purshe Kaplan Of Reverse Churning

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 […]

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Investors File Arbitration Claim Against Gradient For Breach Of Fiduciary Duty

March 18, 2021  |   Posted by :   |   Breach of Fiduciary Duty, Failure To Supervise, Investment and Regulatory News   |   Comments Off on Investors File Arbitration Claim Against Gradient For Breach Of Fiduciary Duty

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 […]

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FINRA Sanctions Triad Advisors For Failure To Supervise

March 08, 2021  |   Posted by :   |   Failure To Supervise, Investment and Regulatory News, Mutual Fund Fraud, Variable Annuites   |   Comments Off on FINRA Sanctions Triad Advisors For Failure To Supervise

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 […]

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Stifel Nicolaus Sued By Investors For Breach Of Fiduciary Duty

February 16, 2021  |   Posted by :   |   Breach of Fiduciary Duty, Failure To Supervise, FINRA Securities Arbitration, Investment and Regulatory News, Over Concentration   |   Comments Off on Stifel Nicolaus Sued By Investors For Breach Of Fiduciary Duty

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 […]

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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 […]

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Investors File Arbitration Claim Against Ameriprise

February 01, 2021  |   Posted by :   |   Failure To Supervise, FINRA Securities Arbitration, Investment and Regulatory News   |   Comments Off on Investors File Arbitration Claim Against Ameriprise

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 […]

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Whitehall-Parker Sanctioned For Failure To Supervise

February 01, 2021  |   Posted by :   |   Failure To Supervise, Investment and Regulatory News, Promissory Notes   |   Comments Off on Whitehall-Parker Sanctioned For Failure To Supervise

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 […]

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Hornor Townsend Stockbroker Caught Selling Away Brother’s Ponzi Scheme

February 01, 2021  |   Posted by :   |   Failure To Supervise, FINRA Securities Arbitration, Investment and Regulatory News, Ponzi Schemes, Private Placement Fraud, Securities Arbitration Claims, Securities Fraud   |   Comments Off on Hornor Townsend Stockbroker Caught Selling Away Brother’s Ponzi Scheme

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 […]

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FINRA Sanctions Transamerica For Failure To Supervise

January 19, 2021  |   Posted by :   |   Failure To Supervise, Investment and Regulatory News, Mutual Fund Fraud   |   Comments Off on FINRA Sanctions Transamerica For Failure To Supervise

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, […]

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Worden Ringleader Sanctioned For Failure To Supervise

January 19, 2021  |   Posted by :   |   Excessive Trading, Failure To Supervise, Investment and Regulatory News   |   Comments Off on Worden Ringleader Sanctioned For Failure To Supervise

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 […]

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LPL Sanctioned By FINRA For Failure To Supervise

January 19, 2021  |   Posted by :   |   Failure To Supervise, Investment and Regulatory News   |   Comments Off on LPL Sanctioned By FINRA For Failure To Supervise

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 […]

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FINRA Sanctions Cetera $1 Million For The Failure To Supervise

January 03, 2021  |   Posted by :   |   Failure To Supervise, Investment and Regulatory News, Selling Away and Outside Activities   |   Comments Off on FINRA Sanctions Cetera $1 Million For The Failure To Supervise

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 […]

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RBC Capital Markets Sanctioned For The Failure To Supervise

January 03, 2021  |   Posted by :   |   Failure To Supervise, Investment and Regulatory News   |   Comments Off on RBC Capital Markets Sanctioned For The Failure To Supervise

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). […]

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PHX Sanctioned By FINRA For Failure To Supervise

January 03, 2021  |   Posted by :   |   Boilerroom Sales, Failure To Supervise, Investment and Regulatory News   |   Comments Off on PHX Sanctioned By FINRA For Failure To Supervise

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 […]

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Wynston Hill Named In FINRA Arbitration Claim For Failure To Supervise

December 22, 2020  |   Posted by :   |   Failure To Supervise, FINRA Securities Arbitration, Investment and Regulatory News, Over Concentration   |   Comments Off on Wynston Hill Named In FINRA Arbitration Claim For Failure To Supervise

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 […]

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Investors Accuse Wells Fargo Of Failure To Execute Orders

December 22, 2020  |   Posted by :   |   Failure To Supervise, FINRA Securities Arbitration, Investment and Regulatory News, Unsuitable Investment Recommendations   |   Comments Off on Investors Accuse Wells Fargo Of Failure To Execute Orders

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 […]

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FINRA Sanctions Financial West Stockbroker For Failure To Supervise

December 07, 2020  |   Posted by :   |   Failure To Supervise, Investment and Regulatory News   |   Comments Off on FINRA Sanctions Financial West Stockbroker For Failure To Supervise

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 […]

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Investors File FINRA Securities Arbitration Against Joseph Stone For Failure To Supervise

December 07, 2020  |   Posted by :   |   Failure To Supervise, FINRA Securities Arbitration, Investment and Regulatory News   |   Comments Off on Investors File FINRA Securities Arbitration Against Joseph Stone For Failure To Supervise

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 […]

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National Securities Stockbroker Barred By FINRA In REIT Investigation

December 07, 2020  |   Posted by :   |   Failure To Supervise, Investment and Regulatory News   |   Comments Off on National Securities Stockbroker Barred By FINRA In REIT Investigation

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 […]

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