Investment and Regulatory News

Archive | Investment and Regulatory News

Farmers Financial Sanctioned For Failure To Supervise

July 12, 2021  |   Posted by :   |   Failure To Supervise, Investment and Regulatory News, Mutual Fund Fraud, Variable Annuites   |   Comments Off on Farmers Financial Sanctioned For Failure To Supervise

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 […]

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Kalos Capital Sued For Breach Of Fiduciary Duty

July 12, 2021  |   Posted by :   |   Alternative Investments, FINRA Securities Arbitration, Investment and Regulatory News, Non-traded REITs, Unsuitable Investment Recommendations   |   Comments Off on Kalos Capital Sued For Breach Of Fiduciary Duty

Christopher John Shaw (also known as Chris Shaw) of Belmont North Carolina a stockbroker of Kalos Capital and investment adviser representative of Kalos Management is referenced in a customer initiated investment related FINRA securities arbitration claim in which the customer requested $175,000.00 in damages founded on allegations that Shaw breached a fiduciary duty to the […]

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Investors File FINRA Securities Arbitration Claim Against LPL Financial

July 12, 2021  |   Posted by :   |   FINRA Securities Arbitration, Investment and Regulatory News, Unsuitable Investment Recommendations   |   Comments Off on Investors File FINRA Securities Arbitration Claim Against LPL Financial

Jessica Y. Jung of Palo Alto California a stockbroker formerly registered with LPL Financial LLC is the subject of a customer initiated investment related FINRA securities arbitration claim where the customer sought more than $5,000.00 in damages supported by allegations that Jung made misrepresentations regarding alternative investments that the customer purchased through her while she […]

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FINRA Sanctions LPL Stockbroker For Falsified Customer Documents

July 12, 2021  |   Posted by :   |   Forgery, Investment and Regulatory News, Variable Annuites   |   Comments Off on FINRA Sanctions LPL Stockbroker For Falsified Customer Documents

Eric Peter Burton of Orland Park Illinois a stockbroker formerly registered with LPL Financial 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 of Burton falsifying customers’ documents relating to variable annuity transactions that he effected. Letter of […]

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Investors File Arbitration Claim Against Katalyst Securities

July 12, 2021  |   Posted by :   |   FINRA Securities Arbitration, Investment and Regulatory News   |   Comments Off on Investors File Arbitration Claim Against Katalyst Securities

Peter Kyle Janssen of New York New York a stockbroker formerly registered with Katalyst Securities LLC is referenced in a customer initiated investment related FINRA securities arbitration claim which was settled for $50,000.00 in damages based upon allegations that the customer invested in a unsuitable private placement because of Janssen in December of 2017 while […]

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Gentem Capital Stockbroker Barred In AML Investigation

July 12, 2021  |   Posted by :   |   Failure To Supervise, Investment and Regulatory News   |   Comments Off on Gentem Capital Stockbroker Barred In AML Investigation

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 […]

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Investors File Securities Arbitration Claim Against Coastal Equities

July 12, 2021  |   Posted by :   |   Alternative Investments, Failure to Conduct Due Diligence, FINRA Securities Arbitration, Investment and Regulatory News, Non-traded REITs   |   Comments Off on Investors File Securities Arbitration Claim Against Coastal Equities

Luke Michael Johnson of Scottsdale Arizona a stockbroker formerly registered with Coastal Equities Inc. is referenced in a customer initiated investment related FINRA securities arbitration claim where the customer requested $76,500.00 in damages founded on allegations that Johnson provided unsuitable recommendations concerning real estate security transactions at Coastal Equities. Financial Industry Regulatory Authority (FINRA) Arbitration […]

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Merrill Lynch Stockbroker Sanctioned For Unsuitable UIT Recommendations

July 12, 2021  |   Posted by :   |   Investment and Regulatory News, Unit Investment Trusts (UITs), Unsuitable Investment Recommendations   |   Comments Off on Merrill Lynch Stockbroker Sanctioned For Unsuitable UIT Recommendations

Scott Ryland Mathews of Charlotte North Carolina a stockbroker formerly registered with Merrill Lynch Pierce Fenner Smith Incorporated 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 of Mathews providing unsuitable recommendations to customers regarding unit investment trust transactions […]

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Morgan Stanley Stockbroker Accused Of Making Misrepresentations

July 12, 2021  |   Posted by :   |   Investment and Regulatory News   |   Comments Off on Morgan Stanley Stockbroker Accused Of Making Misrepresentations

Robert A. DeBlasio of Boca Raton Florida a stockbroker formerly registered with Morgan Stanley is the subject of a customer initiated investment related written complaint on February 25, 2020 in which the customer sought compensatory damages founded on allegations that DeBlasio made misrepresentations regarding the features of an annuity that the customer held between February […]

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FINRA Bars NTB Financial Stockbroker For Selling Away

July 12, 2021  |   Posted by :   |   FINRA Securities Arbitration, Investment and Regulatory News, Promissory Notes, Selling Away and Outside Activities   |   Comments Off on FINRA Bars NTB Financial Stockbroker For Selling Away

George Louis McCaffrey III of Englewood Colorado a stockbroker formerly registered with NTB Financial Corporation has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based on findings of him selling away and giving false information to FINRA during a period that he was investigated for engaging in private […]

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Investors File Securities Arbitration Claim Against Madison Avenue Securities For GPB Scheme

July 12, 2021  |   Posted by :   |   Alternative Investments, Elder Financial Abuse, FINRA Securities Arbitration, Investment and Regulatory News, Unsuitable Investment Recommendations   |   Comments Off on Investors File Securities Arbitration Claim Against Madison Avenue Securities For GPB Scheme

Jeffrey Raymond Dixson of Vancouver Washington 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 compensatory damages founded on allegations including elder abuse in regard to alternative investments that had been sold to the customer during the period that […]

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NYLife Stockbroker Barred In FINRA Investigation

July 12, 2021  |   Posted by :   |   Investment and Regulatory News, Unauthorized Trading, Variable Annuites   |   Comments Off on NYLife Stockbroker Barred In FINRA Investigation

Daniel E. Jossen (also known as Dan Jossen) of Bethesda Maryland a stockbroker formerly registered with NYLife Securities LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that Jossen failed to cooperate with FINRA’s requests when he was investigated by the regulator for unauthorized […]

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Cetera Accused By Investors Of Misrepresentation

July 12, 2021  |   Posted by :   |   Investment and Regulatory News, Non-traded REITs   |   Comments Off on Cetera Accused By Investors Of Misrepresentation

Rebecca King Wah Ng-Tsang of Bellevue Washington a stockbroker currently registered with Cetera Investment Services LLC is the subject of a customer initiated investment related written complaint on December 9, 2020 in which the customer sought more than $5,000.00 in damages supported by allegations of misrepresentations by the stockbroker as it pertained to the liquidity […]

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FINRA Bars AISG Stockbroker In Investigation

July 12, 2021  |   Posted by :   |   FINRA Securities Arbitration, Investment and Regulatory News, Unauthorized Trading, Unsuitable Investment Recommendations   |   Comments Off on FINRA Bars AISG Stockbroker In Investigation

Nathan Gersteen Katz of Largo Florida a stockbroker formerly registered with American Independent Securities Group LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings of Katz refusing to cooperate with FINRA when he was investigated for potentially making unsuitable recommendations and effecting trades without […]

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Morgan Stanley Terminates Stockbroker For Outside Business Activities

July 12, 2021  |   Posted by :   |   FINRA Securities Arbitration, Investment and Regulatory News, Selling Away and Outside Activities   |   Comments Off on Morgan Stanley Terminates Stockbroker For Outside Business Activities

Robert Lynn Mitchell of Frisco Texas a stockbroker formerly registered with Morgan Stanley Wealth Management has been discharged from employment on February 3, 2021 supported by allegations of the stockbroker being involving in undisclosed outside business activities during the time that he was associated with Morgan Stanley Wealth Management. Mitchell has been identified in four […]

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FINRA Sanctions Merrill Lynch $3.2 Million For Failure To Supervise

July 12, 2021  |   Posted by :   |   Failure To Supervise, Investment and Regulatory News, Unit Investment Trusts (UITs)   |   Comments Off on FINRA Sanctions Merrill Lynch $3.2 Million For Failure To Supervise

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 […]

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Morgan Stanley Terminates Stockbroker For Hiding Customer Complaints

July 12, 2021  |   Posted by :   |   Investment and Regulatory News, Unit Investment Trusts (UITs), Unsuitable Investment Recommendations   |   Comments Off on Morgan Stanley Terminates Stockbroker For Hiding Customer Complaints

Richard Paul Altieri of Boca Raton Florida a stockbroker and investment adviser representative of Morgan Stanley has been discharged on February 11, 2021 supported by accusations of Altieri failing to report complaints and misusing Morgan Stanley Wealth Management information. Altieri has been identified in four customer initiated investment related disputes regarding allegations of his wrongdoing […]

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Investors File Securities Arbitration Claim Against Comerica Securities For Breach Of Fiduciary Duty

July 12, 2021  |   Posted by :   |   Breach of Fiduciary Duty, FINRA Securities Arbitration, Inverse/Leveraged ETF Funds, Investment and Regulatory News   |   Comments Off on Investors File Securities Arbitration Claim Against Comerica Securities For Breach Of Fiduciary Duty

William Edward Torriente Jr. (also known as Ed Torriente and as Eddy Torriente) of Phoenix Arizona a stockbroker formerly registered with Comerica Securities is the subject of a customer initiated investment related FINRA securities arbitration claim where the customer sought $500,000.00 in damages founded on accusations that Torriente breached a fiduciary duty to the customer […]

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Stifel Nicolaus Stockbroker Barred In Options Trading Inquiry

July 12, 2021  |   Posted by :   |   Investment and Regulatory News, Unauthorized Trading   |   Comments Off on Stifel Nicolaus Stockbroker Barred In Options Trading Inquiry

Matthew Alexander Perry (also known as Alex Perry) of Columbia Montana a stockbroker formerly registered with Stifel Nicolaus Company incorporated has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that he refused to cooperate with FINRA when he was investigated for a customer complaint regarding […]

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Axiom Sued By Investors For Unsuitable Investment Recommendations

July 12, 2021  |   Posted by :   |   Breach of Fiduciary Duty, FINRA Securities Arbitration, Investment and Regulatory News, Private Placement Fraud, Unsuitable Investment Recommendations   |   Comments Off on Axiom Sued By Investors For Unsuitable Investment Recommendations

Jennifer W. Ling (also known as Jenifer W. Li) of New York New York a stockbroker formerly registered with Axiom Capital Management Inc. is referenced in a customer initiated investment related FINRA securities arbitration claim where the customer sought $150,000.00 in damages based upon accusations that Ling provided unsuitable recommendations concerning an alternative investment that […]

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Wells Fargo Terminates Stockbroker For Unauthorized Trading

July 12, 2021  |   Posted by :   |   Investment and Regulatory News, Unauthorized Trading   |   Comments Off on Wells Fargo Terminates Stockbroker For Unauthorized Trading

Roger Lowell Wilkie of Overland Park Kansas a stockbroker and investment adviser representative of Wells Fargo Clearing Services has been discharged from employment on March 17, 2021 founded on accusations of Wilkie being involved in an unauthorized transaction involving the liquidation of securities from a customer’s account. Wilkie has been identified in six customer initiated […]

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Worden Capital Stockbroker Barred For Excessive Trading

July 12, 2021  |   Posted by :   |   Boilerroom Sales, Excessive Trading, Investment and Regulatory News   |   Comments Off on Worden Capital Stockbroker Barred For Excessive Trading

Christopher George Orlando of New York New York a stockbroker formerly registered with Legend Securities and Worden Capital Management has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings of Orlando making excessive trades in customer accounts. Letter of Acceptance Waiver and Consent No. 2017056432603 (June […]

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Wells Fargo Stockbroker Terminated For Unauthorized Transactions

July 12, 2021  |   Posted by :   |   Investment and Regulatory News, Unauthorized Trading   |   Comments Off on Wells Fargo Stockbroker Terminated For Unauthorized Transactions

Adam Thomas Marquardt of Rochester Minnesota a stockbroker formerly registered with Wells Fargo Advisors Financial Network has been terminated on July 22, 2020 founded on accusations that he executed unauthorized transactions to address losses incurred by customers. Financial Industry Regulatory Authority (FINRA) Public Disclosure also confirms that Marquardt is referenced in a customer initiated investment […]

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Following SEC Action Investors Accuse Royal Alliance Of Investment Fraud

July 12, 2021  |   Posted by :   |   Investment and Regulatory News, Misappropriation of Funds, Securities Fraud   |   Comments Off on Following SEC Action Investors Accuse Royal Alliance Of Investment Fraud

Kimberly Pine Kitts of Palmer Massachusetts a stockbroker formerly registered with Royal Alliance Associates Inc. is the subject of a customer initiated investment related complaint which was resolved for $232,761.77 in damages on October 17, 2019 based upon accusations that the customer had been defrauded by the stockbroker during the time that she was associated […]

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Investors File Securities Arbitration Claim Against LPL Financial Accused For Unsuitable Recommendations

July 12, 2021  |   Posted by :   |   Alternative Investments, FINRA Securities Arbitration, Investment and Regulatory News, Non-traded REITs, Unsuitable Investment Recommendations   |   Comments Off on Investors File Securities Arbitration Claim Against LPL Financial Accused For Unsuitable Recommendations

Nicholas Joseph Travascio III (also known as Nicholas Joseph Tarvash III) of Hurst Texas a stockbroker formerly registered with LPL Financial LLC is referenced in a customer initiated investment related written complaint on December 31, 2020 where the customer requested $90,000.00 in damages supported by allegations that they were provided with unsuitable investment recommendations as […]

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Another Worden Capital Stockbroker Investigated For Churning

July 07, 2021  |   Posted by :   |   Boilerroom Sales, Churning, Excessive Trading, FINRA Securities Arbitration, Investment and Regulatory News, Over Concentration, Unsuitable Investment Recommendations   |   Comments Off on Another Worden Capital Stockbroker Investigated For Churning

William Nicholas Athas of Melville New York a stockbroker formerly registered with Worden Capital Management is the subject of a Financial Industry Regulatory Authority (FINRA) investigation in which the regulator has determined that Department of Enforcement should pursue disciplinary action against Athas for potentially churning investor accounts and for making unsuitable investment recommendations. Case No. […]

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LPL Stockbroker Sanctioned For Unsuitable Recommendations

July 07, 2021  |   Posted by :   |   Business Development Companies, FINRA Securities Arbitration, Investment and Regulatory News, Unsuitable Investment Recommendations   |   Comments Off on LPL Stockbroker Sanctioned For Unsuitable Recommendations

Kevin Marshall McCallum of Birmingham Alabama a stockbroker formerly registered with LPL Financial LLC has been fined $25,000.00 and suspended for one year from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings that he provided customers with unsuitable recommendations relating to a speculative business development company. Letter of […]

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Investors File Arbitration Claim Against Janney Montgomery Scott For Unsuitable Recommendations

July 07, 2021  |   Posted by :   |   FINRA Securities Arbitration, Investment and Regulatory News, Unsuitable Investment Recommendations   |   Comments Off on Investors File Arbitration Claim Against Janney Montgomery Scott For Unsuitable Recommendations

Christopher David Sinkula of Stuart Florida a stockbroker formerly registered with Janney Montgomery Scott LLC is the subject of a customer initiated investment related FINRA securities arbitration claim where the customer requested $200,000.00 in damages founded on accusations that Sinkula unsuitably allocated the customer in high yield securities including stocks between 2013 and 2020 while […]

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Spartan Capital Stockbroker Charged With Churning Customer Accounts

July 07, 2021  |   Posted by :   |   Boilerroom Sales, Churning, Excessive Trading, FINRA Securities Arbitration, Investment and Regulatory News, Unauthorized Trading   |   Comments Off on Spartan Capital Stockbroker Charged With Churning Customer Accounts

Marc Augustus Reda of New York New York a stockbroker currently registered with Spartan Capital Securities LLC has been charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement with recommending unsuitable transactions for 66 customer accounts at Spartan Capital Securities and for churning those accounts. Department of Enforcement v. Marc Augustus Reda Complaint No. […]

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Investors Accuse Merrill Lynch Of Unauthorized Trading

July 07, 2021  |   Posted by :   |   Investment and Regulatory News, Unauthorized Trading   |   Comments Off on Investors Accuse Merrill Lynch Of Unauthorized Trading

Joel Lansat of Palm Beach Gardens Florida a stockbroker currently registered with Merrill Lynch Pierce Fenner Smith Incorporated is the subject of a customer initiated investment related written complaint on April 9, 2020 in which the customer sought compensatory damages based upon accusations that unauthorized trades were effected in the customer’s Merrill Lynch investment account […]

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