Investment and Regulatory News

Archive | Investment and Regulatory News

Investors Accuse Fifth Third Securities Of Unit Investment Trust Misconduct

March 31, 2021  |   Posted by :   |   Investment and Regulatory News, Stockbroker Theft   |   Comments Off on Investors Accuse Fifth Third Securities Of Unit Investment Trust Misconduct

Kenneth Joseph Heidelberger of Boca Raton Florida a stockbroker currently registered with Fifth Third Securities Inc. is referenced in a customer initiated investment related written complaint on March 7, 2020 in which the customer requested $10,000.00 in damages based upon accusations of a poorly performing unit investment trust being held in the customer’s account during […]

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Ausdal Financial Accused Of Unsuitable Recommendations

March 31, 2021  |   Posted by :   |   Investment and Regulatory News, Non-traded REITs, Unsuitable Investment Recommendations   |   Comments Off on Ausdal Financial Accused Of Unsuitable Recommendations

Daniel Ernest Davis (also known as Danny Davis) of Louisville Kentucky a stockbroker currently registered with Ausdal Financial Partners Inc. is the subject of a customer initiated investment related written complaint on February 21, 2020 in which the customer requested $92,707.00 in damages founded on accusations of Davis making unsuitable investment recommendations to the customer concerning […]

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FINRA Finally Sanctions Aegis Stockbroker For Unsuitable Recommendations

March 31, 2021  |   Posted by :   |   Boilerroom Sales, Excessive Trading, Investment and Regulatory News   |   Comments Off on FINRA Finally Sanctions Aegis Stockbroker For Unsuitable Recommendations

Edmund Roger Zack of New York New York a stockbroker formerly registered with Aegis Capital Corp has been fined $10,000.00 and suspended for eight months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that Zack made unsuitable recommendations to Aegis customers and made excessive trades in their […]

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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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HD Vest Stockbroker Accused of Stealing $1 Million

March 31, 2021  |   Posted by :   |   Investment and Regulatory News, Misappropriation of Funds, Stockbroker Theft   |   Comments Off on HD Vest Stockbroker Accused of Stealing $1 Million

Erin Lynn Verespy of Trumbull Connecticut a stockbroker formerly registered with HD Vest Investment Services has been issued a Cease and Desist Order by the Banking Commissioner of the State of Connecticut founded on allegations of Verespy engaging in outside business activities, failing to disclose lawsuits, and borrowing funds from a customer of HD Vest […]

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JP Morgan Stockbroker Sanctioned For Unauthorized Trading

March 31, 2021  |   Posted by :   |   FINRA Securities Arbitration, Investment and Regulatory News, Unauthorized Trading, Unsuitable Investment Recommendations   |   Comments Off on JP Morgan Stockbroker Sanctioned For Unauthorized Trading

Trevor Bradner Rahn of Los Angeles California a stockbroker formerly registered with JP Morgan Securities LLC has been fined $10,000.00 and suspended for 18 months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that Rahn made unsuitable recommendations and unauthorized trades when he was associated with JP […]

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GF Investment Services Accused Of Unauthorized Transactions

March 31, 2021  |   Posted by :   |   FINRA Securities Arbitration, Investment and Regulatory News, Unsuitable Investment Recommendations   |   Comments Off on GF Investment Services Accused Of Unauthorized Transactions

Mark Scordato of Parsippany New Jersey a stockbroker formerly registered with GF Investment Services is referenced in a customer initiated investment related written complaint on April 29, 2020 where the customer sought $34,000.00 in damages supported by accusations of a fixed insurance product being purchased without the customer’s authorization when Scordato was associated with GF […]

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Investors File Securities Arbitration Claim Against UBS For Misrepresentation

March 31, 2021  |   Posted by :   |   Alternative Investments, FINRA Securities Arbitration, Hedge Funds, Investment and Regulatory News, Unsuitable Investment Recommendations   |   Comments Off on Investors File Securities Arbitration Claim Against UBS For Misrepresentation

Jeremy Seidman of Boston Massachusetts a stockbroker currently registered with UBS Financial Services Inc. is referenced in a customer initiated investment related FINRA securities arbitration claim where the customer sought $6,500,000.00 in damages supported by accusations that the customer had been recommended an unsuitable options overlay strategy by Seidman between 2016 and 2019 when he […]

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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 File Securities Arbitration Claim Against AIGS For Suitability

March 31, 2021  |   Posted by :   |   FINRA Securities Arbitration, Investment and Regulatory News, Unsuitable Investment Recommendations   |   Comments Off on Investors File Securities Arbitration Claim Against AIGS For Suitability

Thomas Joseph Logue Jr. of Hinsdale Illinois a stockbroker formerly registered with American Independent Securities Group LLC (AIGS) is referenced in a customer initiated investment related FINRA securities arbitration claim which was settled for $450,000.00 in damages founded on allegations that the customer had been placed into unsuitable asset-backed debt investments during the time that […]

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Kovack Securities Accused Of Unsuitable Trading

March 31, 2021  |   Posted by :   |   FINRA Securities Arbitration, Investment and Regulatory News, Non-traded REITs, Unsuitable Investment Recommendations   |   Comments Off on Kovack Securities Accused Of Unsuitable Trading

Gerald James O’Halloran of Punta Gorda Florida a stockbroker formerly registered with Kovack Securities Inc. is the subject of a customer initiated investment related written complaint which was settled for $24,000.00 in damages on May 29, 2020 based upon allegations that the customer had been placed into unsuitable real estate securities and stocks by O’Halloran […]

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DA Davidson Stockbroker Sanctioned For Unauthorized Trading

March 31, 2021  |   Posted by :   |   Investment and Regulatory News, Unauthorized Trading   |   Comments Off on DA Davidson Stockbroker Sanctioned For Unauthorized Trading

Mark Larry Delgadillo of Santa Barbara California a stockbroker formerly registered with DA Davidson Co. has been fined $5,000.00 and suspended for one month from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that Delgadillo effected unauthorized trades in a customer’s account. Letter of Acceptance Waiver and Consent […]

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Cabot Lodge Securities Terminates Stockbroker For Cause

March 31, 2021  |   Posted by :   |   Investment and Regulatory News, Selling Away and Outside Activities   |   Comments Off on Cabot Lodge Securities Terminates Stockbroker For Cause

Albert Lewis DeGaetano of Independence Ohio a stockbroker formerly registered with Cabot Lodge Securities LLC has been discharged on November 15, 2019 based upon allegations of him violating the firm’s directives as it related to private securities transactions. Cabot Lodge Securities also alleged that DeGaetano’s correspondence with the public violated firm policy. This is not […]

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Advisory Group Equity Services Stockbroker Investigated

March 31, 2021  |   Posted by :   |   Investment and Regulatory News, Selling Away and Outside Activities   |   Comments Off on Advisory Group Equity Services Stockbroker Investigated

Frank Vincent Sapareto of Westport Connecticut a stockbroker formerly registered with Advisory Group Equity Services Ltd. is referenced in a Financial industry Regulatory Authority (FINRA) investigation in which the regulator determined that Sapareto should face disciplinary action for allegedly failing to be truthful during an investigation into his outside business activities. FINRA Investigation No. 20180603797 […]

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FINRA Bars MML Stockbroker In Investigation

March 31, 2021  |   Posted by :   |   FINRA Securities Arbitration, Investment and Regulatory News, Misappropriation of Funds, Stockbroker Theft   |   Comments Off on FINRA Bars MML Stockbroker In Investigation

Chad T. Mackland of Council Bluff Iowa a stockbroker formerly registered with MML Investors Services has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that Mackland neglected to provide information and documents to FINRA when it investigated him for accusations of fraud. Letter of Acceptance […]

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Investors File Securities Arbitration Claim Against Aegis For Unsuitable Trading

March 31, 2021  |   Posted by :   |   Breach of Fiduciary Duty, FINRA Securities Arbitration, Investment and Regulatory News, Unsuitable Investment Recommendations   |   Comments Off on Investors File Securities Arbitration Claim Against Aegis For Unsuitable Trading

Gregory Spencer O’Brien of New York New York a stockbroker formerly registered with Aegis Capital Corp. is referenced in a customer initiated investment related FINRA securities arbitration claim where the customer sought $153,300.00 in damages founded on accusations that the customer had been placed into poorly performing investments between 2013 and 2019 during the period […]

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Aegis Stockbroker Sanctioned For Unauthorized Trading

March 31, 2021  |   Posted by :   |   Boilerroom Sales, Investment and Regulatory News, Unauthorized Trading   |   Comments Off on Aegis Stockbroker Sanctioned For Unauthorized Trading

Corey Alexander Johnson of Melville New York a stockbroker currently registered with Aegis Capital Corp 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 Johnson executed unauthorized transactions in customer accounts during the time that he was associated with Aegis Capital […]

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UBS Sued By Investors For Unsuitable Trading

March 31, 2021  |   Posted by :   |   Bond Fraud, FINRA Securities Arbitration, Investment and Regulatory News   |   Comments Off on UBS Sued By Investors For Unsuitable Trading

Ricardo Fontana Guimaraes of Miami Florida a stockbroker currently registered with UBS Financial Services Inc. is the subject of a customer initiated investment related FINRA securities arbitration claim which was settled for $57,000.00 in damages based upon allegations that the customer had been sold unsuitable bonds from Guimaraes when he was associated with UBS Financial […]

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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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FINRA Bars Cambridge Investment Research Stockbroker

March 31, 2021  |   Posted by :   |   Investment and Regulatory News   |   Comments Off on FINRA Bars Cambridge Investment Research Stockbroker

William James Novack (also known as Bill Novack) of Monticello Indiana a stockbroker formerly registered with Cambridge Investment Research Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that Novack failed to cooperate with FINRA’s investigation into accusations of him allowing a barred stockbroker to […]

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Morgan Stanley Stockbroker Sanctioned For Customer Complaints

March 31, 2021  |   Posted by :   |   FINRA Securities Arbitration, Investment and Regulatory News, Unsuitable Investment Recommendations   |   Comments Off on Morgan Stanley Stockbroker Sanctioned For Customer Complaints

Jonathan William Lonske of Boston Massachusetts a stockbroker formerly registered with Morgan Stanley has been issued a Consent Order by Massachusetts Securities Division which requires Lonske to be placed on heightened supervision based on allegations that he was the subject of customer initiated investment related complaints and was terminated from a securities broker dealer for […]

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Investors Accuse Merrill Lynch Of Misrepresentation

March 31, 2021  |   Posted by :   |   FINRA Securities Arbitration, Investment and Regulatory News, Securities Fraud   |   Comments Off on Investors Accuse Merrill Lynch Of Misrepresentation

Jeffrey William Fitz of Short Hills New Jersey a stockbroker formerly registered with Merrill Lynch Pierce Fenner Smith Incorporated is the subject of a customer initiated investment related written complaint on June 5, 2020 where the customer sought compensatory damages founded on accusations that misrepresentations had been made to the customer by Fitz concerning investment […]

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IFG Sued By Investors In Promissory Note Scheme

March 31, 2021  |   Posted by :   |   FINRA Securities Arbitration, Investment and Regulatory News, Ponzi Schemes, Promissory Notes, Selling Away and Outside Activities   |   Comments Off on IFG Sued By Investors In Promissory Note Scheme

Jon Richard Pariser of Pacific Grove California a stockbroker formerly registered with Independent Financial Group is referenced in a customer initiated investment related FINRA securities arbitration claim where the customer sought $1,202,739.63 in damages based upon accusations of Pariser having involved himself with people who persuaded the customer to invest in fraudulent promissory notes. Financial […]

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Aegis Stockbroker Charged With Excessive Trading

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

Kishan Parikh (also known as Sean Parikh) of New York New York a stockbroker formerly registered with Aegis Capital Corp has been charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement with executing unsuitable, excessive and unauthorized trades in the accounts of Aegis Capital Corp customers. Department of Enforcement v. Kishan Parikh Disciplinary Proceeding […]

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Raymond James Stockbroker Charged By SEC With Fraud

March 31, 2021  |   Posted by :   |   FINRA Securities Arbitration, Investment and Regulatory News, Misappropriation of Funds, Securities Fraud, Stockbroker Theft   |   Comments Off on Raymond James Stockbroker Charged By SEC With Fraud

Mark Joseph Boucher of Carlsbad California a former stockbroker of Raymond James Financial Services and former investment adviser representative of SCF Investment Advisors Inc. has been charged by Securities and Exchange Commission (SEC) with engaging in a fraudulent scheme during the period that he controlled Strategic Wealth Advisors Group (SWAG). Securities and Exchange Commission v. […]

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Investors File Arbitration Claim Against Madison Avenue Securities

March 31, 2021  |   Posted by :   |   FINRA Securities Arbitration, Investment and Regulatory News, Non-traded REITs, Unsuitable Investment Recommendations   |   Comments Off on Investors File Arbitration Claim Against Madison Avenue Securities

James Andrew Geake (also known as Jim Geake) of Skokie Illinois a stockbroker currently registered with Madison Avenue Securities LLC is the subject of a customer initiated investment related written complaint on November 5, 2020 in which the customer requested compensatory damages founded on accusations that unsuitable investment recommendations had been made by Geake causing […]

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Purshe Kaplan Stockbroker Caught Selling Away

March 31, 2021  |   Posted by :   |   Investment and Regulatory News, Selling Away and Outside Activities   |   Comments Off on Purshe Kaplan Stockbroker Caught Selling Away

Tonya Nicole Smoake of Franklin Lakes New Jersey a stockbroker formerly registered with Purshe Kaplan Sterling Investments has been fined $5,000.00 and suspended for one year from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that she engaged in private securities transactions during the period that she was […]

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Ameriprise Sued By Investors For BDC Fraud

March 18, 2021  |   Posted by :   |   Alternative Investments, Breach of Fiduciary Duty, Business Development Companies, Investment and Regulatory News   |   Comments Off on Ameriprise Sued By Investors For BDC Fraud

Mark Allen Barrand of Denver Colorado a stockbroker formerly registered with Ameriprise Financial Services is referenced in a customer initiated investment related FINRA securities arbitration claim which was settled for $25,000.00 in damages based upon accusations that the customer had been advised by Barrand to invest in Business Development Corporation of America when Barrand was […]

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Westlake Stockbroker Charged With Making Unsuitable Recommendations

March 18, 2021  |   Posted by :   |   FINRA Securities Arbitration, Investment and Regulatory News, Non-traded REITs, Unsuitable Investment Recommendations   |   Comments Off on Westlake Stockbroker Charged With Making Unsuitable Recommendations

Megurditch Mike Patatian (also known as Mike Patatian) a stockbroker formerly registered with Westlake International Securities Inc. has been charged by Financial Industry Regulatory Authority (FINRA) with making unsuitable recommendations of real estate investment trusts to customers of Western International Securities. Department of Enforcement v. Megurditch Patatian Disciplinary Proceeding No. 2018057235801 (Feb. 26, 2021). According […]

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David Lerner Of David Lerner Accused Of Unsuitable Trading

March 18, 2021  |   Posted by :   |   Breach of Fiduciary Duty, FINRA Securities Arbitration, Investment and Regulatory News, Unsuitable Investment Recommendations   |   Comments Off on David Lerner Of David Lerner Accused Of Unsuitable Trading

Daniel Todd Lerner of White Plains New York a stockbroker currently registered with David Lerner Associates Inc. is referenced in a customer initiated investment related written complaint on January 22, 2021 where the customer requested $100,000.00 in damages supported by accusations that they had been placed into unsuitable mutual funds and direct investments when the […]

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