Scott David Shapiro of New York New York is a stockbroker formerly employed with Citigroup Global Markets who has been terminated on April 8 2016 supported by allegations that he was under internal investigation for his potential mishandling of customer account documentation. Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that Shapiro has been referenced…
George Craig Merhoff Jr. of Klamath Falls Oregon is a stockbroker currently associated with Cetera Advisors LLC who has been ordered by the Division of Financial Regulation of the Oregon Department of Consumer and Business Services to pay a thirty-five thousand dollar civil penalty and cease and desist committing violations of Oregon Securities Law based…
Jeffrey Howard Palish of Paramus New Jersey is a stockbroker formerly associated with Wells Fargo Clearing Services who was fired on October 5 2017 based upon the firm’s allegations that he had inappropriately obtained funds belonging to one of Wells Fargo’s customers. Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that a customer filed an…
Laurence Bache Rossbach of New York New York is a stockbroker formerly employed with Morgan Stanley who is the subject of a customer initiated investment related written complaint on October 3 2017 in which the customer sought forty-four thousand dollars in damages based upon allegations that stock transactions had been effected in the customer’s account that…
Randolph Lee Eddlemon of Scottsdale Arizona is a stockbroker formerly employed with Geneos Wealth Management Inc. who has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that he failed to provide a response to FINRA’s request for information regarding Eddlemon’s business activities. Case No. 2017055260401…
Linda Lee Ledzian of Merrick New York is a stockbroker formerly employed with Capital One Investing LLC who is the subject of a customer initiated investment related written complaint on March 20 2017 where the customer sought twelve thousand three hundred dollars in damages based upon allegations that a certificate of deposit investment was not…
Laura Ortega Shean of Medford Oregon is a stockbroker formerly associated with LPL Financial LLC who is the subject of an Oregon Division of Financial Regulation Notice Order stating that sanctions have been sought against her by the Division based upon accusations that she misappropriated customer funds and effected transactions that were not authorized. Case…
Austin Richard Dutton Jr. of Doylestown Pennsylvania is a stockbroker formerly registered with Newbridge Securities Corporation who is the subject of a customer initiated investment related arbitration claim where the customer sought thirty thousand dollars in damages based upon allegations that (1) misrepresentations and omissions had been made to the customer relating to features and…
Lawrence E Hagedorn of Andover Kansas is a former registered representative of The O.N. Equity Sales Company who has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on accusations that Hagedorn failed to provide FINRA with a response to its request for Hagedorn’s information. Case No. 201705565410…
Adam Robert Freund of Novi Michigan is a stockbroker formerly associated with Citizens Securities Inc. who is the subject of a customer initiated investment related arbitration claim in which the customer requested thirty-four thousand nine hundred twenty dollars in damages based upon accusations that the customer was sold municipal debt products that were fraudulent and…
Mark Gregory Raezer of Aurora Colorado is a former registered representative of Taylor Capital Management Inc. who has been suspended for sixty days from effecting securities transactions or providing investment advice to customers according to a Stipulation and Consent Order issued by the Securities Commissioner for the State of Colorado containing findings that Raezer sold…
Sean Aaron Brady of Saint Louis Missouri is a stockbroker formerly registered with First Allied Securities Inc. who has been fired on October 20 2017 supported by allegations that Brady violated the firm’s policies relating to the falsification of signatures on customer account documentation and improper use of consolidated account statements. Financial Industry Regulatory Authority…
James C. Tao of Houston Texas is a stockbroker formerly employed with Sunbelt Securities Inc. who has been barred by Securities and Exchange Commission (SEC) from acting as an investment advisor or broker or associating with any investment advisory or brokerage firm in any capacity according to an Order Instituting Administrative Proceedings Making Findings and…
Supreme Alliance LLC is a brokerage firm headquartered in Wilmington North Carolina which has been censured by Financial Industry Regulatory Authority (FINRA) based upon accusations that it (1) failed to supervise its variable annuity business and (2) failed to supervise private securities transactions and outside business activities. Letter of Acceptance Waiver and Consent No. 201605005701…
Jimmy Moscoso of Boca Raton Florida is a stockbroker formerly employed with Lincoln Financial Advisors Corporation who has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he converted the funds of a customer. Letter of Acceptance Waiver and Consent No. 2018057246701 (Feb….
Essex Securities LLC is a brokerage firm headquartered in Massachusetts that has been censured and fined twenty-five thousand dollars by Financial Industry Regulatory Authority (FINRA) based in part on consenting to findings that the firm neglected to adequately supervise outside business activities that its registered representatives engaged in during the time that they were employed…
Steven Jude Meleco is a stockbroker formerly registered with Wells Fargo Clearing Services LLC who has been terminated on November 10 2017 founded on accusations that he effected trades in a customer’s account without authorization. Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that on August 13, 2015, a customer initiated investment related written complaint…
Jasper Eugene Boykin Jr of Atlanta Georgia is a stockbroker formerly employed with MetLife Securities Inc. who has been has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity according to a FINRA Office of Hearing Officers Default Decision containing findings that Boykin obstructed a FINRA investigation into accusations…
John Scott Matthews of New York New York is a stockbroker formerly associated with Global Arena Capital Corp who has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by accusations that he failed to comply with a FINRA arbitration award or otherwise adequately inform FINRA regarding his…
Daniel K. Kittner of Mesa Arizona is a stockbroker formerly employed with Ameritas Investment Corp. who was terminated on November 1 2017 supported by accusations that he was subject of a customer initiated investment related complaint. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that on December 28, 2005, a customer filed an investment related…
Eugene Nathan Gordon of Palo Alto California is a stockbroker currently associated with Morgan Stanley who is the subject of a customer initiated investment related written complaint on October 27 2017 in which the customer sought one million nine hundred thirty-eight thousand one hundred eighty-eight dollars in damages based upon accusations that Gordon placed trades…
John Martin Schneider of Pittsburgh Pennsylvania is stockbroker formerly registered with PWA Securities Inc. and former representative of Private Wealth Advisors Inc. who is the subject of a Securities Exchange Commission (SEC) Investigation launched on July 13 2017 regarding Schneider’s leveraged exchange traded fund activities. Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that Schneider…
Steven Michael Knowlton of Ann Arbor Michigan is a stockbroker formerly associated with IMS Securities Inc. who is the subject of a customer initiated investment related arbitration claim where the customer sought five hundred thousand dollars in damages based upon allegations of (1) fraud (2) unsuitable investment recommendations and (3) failure to conduct due diligence…
Marilyn Ashley Rios of Portsmouth New Hampshire is a stockbroker formerly registered with LPL Financial LLC who was fired on November 15 2016 supported by allegations that she violated LPL Financial LLC’s policy in reference to customer account signatures. Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that on September 26, 2017, a customer initiated…
Robert Douglas Armstrong of Boca Raton is a stockbroker currently associated with Dawson James Securities who is the subject of a customer initiated investment related written complaint on January 16 2017 where the customer sought one hundred thousand dollars in damages founded on allegations that he made misleading and false assurances in regard to the…
Vladimir Belyaev of New York New York is a stockbroker formerly registered with Avenir Financial Group who has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he failed to confirm with FINRA whether he complied with his obligations pertaining to FINRA Arbitration…
Eric John Zebrauskas of Carmel Indiana is a stockbroker formerly registered with Securities Service Network Inc. who has been fined five thousand dollars and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he engaged in undisclosed outside business activities. Letter of Acceptance Waiver…
Douglas Edward Kary of San Diego California is a stockbroker formerly associated with Morgan Stanley who was fired on April 1 2016 based upon allegations that Kary entered into an unapproved loan arrangement between a firm customer and an outside entity that Kary was involved in. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that…
GWN Securities Inc. is a brokerage firm headquartered in Palm Beach Gardens Florida that has been censured and fined one hundred thousand dollars by Financial Industry Regulatory Authority (FINRA) based upon consenting to findings that the firm failed to supervise its unit investment trust business to ensure that customers were provided with discounts when eligible…
Christopher Lee Hibbard of Louisville Kentucky is a stockbroker formerly registered with Merrill Lynch Pierce Fenner and Smith Incorporated who has been fired on January 8 2018 supported by accusations that Hibbard engaged in conduct pertaining to the theft of funds and executed unauthorized transactions regarding money market and variable annuities. Financial Industry Regulatory Authority…
Issac Franklin Stevens Junior of Denton Texas is a stockbroker formerly registered with Edward Jones who has been fined five thousand dollars and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he exercised discretion in a customer’s account without authorization. Letter of Acceptance…
Corey Lee Mireau of Eden Prairie Minnesota is a stockbroker formerly registered with Ameriprise Financial Services Inc. who has been terminated from employment on September 15 2017 based upon allegations that he potentially violated the firm’s policies concerning outside business activities and customer loan arrangements. Mireau reportedly resigned while under the firm’s suspension. Financial Industry…
Edward A. Davig of Green Bay Wisconsin is a stockbroker registered with Packerland Brokerage Services who is the subject of a customer initiated investment related arbitration claim in which customers requested five hundred thousand dollars in damages supported by accusations that Davig effected investments in Atlas oil and gas offering that were not suitable for…
Brendan Patrick Shaw of Scottsdale Arizona is a stockbroker formerly registered with Purshe Kaplan Sterling Investments and investment advisor representative with Thomson Financial Advisors LLC who is the subject of a customer initiated investment related arbitration claim in which the customer requested seven million five hundred thousand dollars in damages based upon accusations that the…
Michael Robert Greenfield of Boca Raton Florida is a stockbroker formerly registered with Oppenheimer and Company who is the subject of a customer initiated investment related arbitration claim where the customer requested one hundred forty-seven thousand three hundred thirty-four dollars in damages founded on allegations of (1) omissions (2) fraud (3) breach of contract (4)…
Larry Allen Stapp of Midland Texas is a stockbroker formerly registered with LPL Financial LLC who has been fined ten thousand dollars and suspended for six months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity by consenting to findings that he entered into an unauthorized loan arrangement with a customer…
Erick George Revelle Kuebler of Dallas Texas is a stockbroker formerly registered with J.P. Morgan Securities LLC who is the subject of a customer initiated investment related arbitration claim in which the customer requested five hundred thousand dollars in damages supported by allegations that Kuebler effected unsuitable and unauthorized transactions in the customer’s account between…
John Anthony Kailunas II of Kentwood Michigan is a stockbroker currently registered with Regulus Advisors LLC who is the subject of a customer initiated investment related civil action brought in the Albemarle Circuit Court of Albemarle County Virginia in which the customer sought over one million eight hundred thousand dollars in damages supported by accusations…
John Scott Elliott of Overland Park Kansas is a stockbroker formerly registered with Ameriprise Financial Services Inc. who has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity according to accusations that Elliott failed to provide information to FINRA regarding his business activities. Letter No. 2016051253201 (Mar. 6 2017)….
Kenneth Wayne Bailey of Abingdon Virginia is a former NYLife Securities LLC registered representative who is the subject of a customer initiated investment related written complaint on December 1 2016 in which the customer sought damages estimated to exceed five thousand dollars supported by allegations that the customer was misled concerning his replacement of variable…
Joseph Richard Hinke of Richland Center Wisconsin is a stockbroker formerly registered with Edward Jones who was fired on August 25 2016 based upon accusations that he solicited and ultimately effected orders in a customer’s investment account after having been apprised that the customer had dementia. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that…
Jorge Reyes of Miami Florida is a stockbroker formerly registered with CP Capital Securities who is subject of a customer initiated investment related civil action brought in Miami Florida on October 24 2016 in which the customer requested one million four hundred fifty-two thousand dollars in damages based upon accusations that the customer was induced…
David Joe Ondo Jr. of San Pedro California is a stockbroker currently registered with OneAmerica Securities Inc. who is the subject of a customer initiated investment related written complaint on June 13 2016 in which the customer sought seven thousand one hundred eighty-nine dollars in damages supported by accusations that Ondo made misrepresentations to the…
Jeffrey David Snyder of Danbury Connecticut is a stockbroker formerly registered with Network 1 Financial Securities Inc. who has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he failed to cooperate in a FINRA investigation into accusations of Snyder settling a customer…
Anthony Mediate of Red Bank New Jersey is a stockbroker formerly registered with National Securities Corporation who is the subject of a customer initiated investment related written complaint on August 4 2015 in which the customer alleged that over-the-counter equities transactions were effected in the customer’s account on an unsuitable and excessive basis. Financial Industry…
Pavel Shklyar of Norwood New Jersey is a stockbroker formerly registered with J.P. Morgan Chase Bank who has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he obstructed FINRA’s investigation into accusations of Shklyar’s private securities transactions. Letter of Acceptance Waiver and…
Jeffrey Howard Palish of Paramus New Jersey is a stockbroker formerly registered with Wells Fargo Clearing Services who has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he converted funds from a customer of the firm. Letter of Acceptance Waiver and…
Jodie Ann LaMarre of Sarasota Florida is a stockbroker formerly registered with Robert W. Baird and Co. Incorporated who has been fined ten thousand dollars and suspended for one year from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that she made an unsuitable investment recommendation…
Caroline Faye Korn of Rochester New York is a stockbroker registered with Pinnacle Investments LLC who has been disgorged of seven thousand three hundred dollars in commissions and suspended for four months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that she effected unauthorized transactions…
SW Financial is a brokerage firm headquartered in Melville New York which has been censured and fined thirty-five thousand dollars by Financial Industry Regulatory Authority (FINRA) based upon consenting to findings that the firm (1) made mutual fund recommendations that were not suitable for customers and (2) failed to supervise the firm’s investment recommendations to…
Philip Andrew Johnson of Nashville Tennessee is a stockbroker formerly associated with SunTrust Investment Services Inc. who has been fined five thousand dollars and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he borrowed funds from a customer without authorization from the firm….
Richard Philip Hohol of Roselle Illinois is a stockbroker formerly registered with Cetera Advisors Networks LLC who has been fined five thousand dollars and suspended for two months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity by consenting to findings that he enabled one of the firm’s former registered representatives…
Brent Van Lott of Orem Utah is a stockbroker formerly registered with LPL Financial LLC who has been charged by Financial Industry Regulatory Authority (FINRA) in a Complaint alleging that Lott falsified documents relating to customers’ securities transactions. Department of Enforcement v. Brent Lott Disciplinary Proceeding No. 2013038124102 (Jan. 25 2018). According to the Complaint,…
Marla Chidsey Roeser of Potomac Maryland is a stockbroker formerly registered with City National Securities Inc. who has been fined ten thousand dollars and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any principal capacity based upon consenting to findings that she failed to supervise the private securities transactions and outside…
Kevin Scott Woolf of Winter Haven Florida is a stockbroker formerly registered with Morgan Stanley that has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he failed to testify or provide documentation to FINRA in regard to allegations of his private securities…
Farid Morim of Beverly Hills California is a stockbroker formerly registered with J.P. Morgan Securities LLC that has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity according to an Office of Hearing Officers Default Decision containing findings that he failed to provide documentation and information to FINRA in…
Leslie Brian Flaum of Melville New York is a stockbroker formerly registered with Oppenheimer who is the subject of a customer initiated investment related arbitration claim in which the customer sought over one million one-hundred eight thousand dollars in damages based upon accusations that Flaum failed to supervise a registered representative who breached his fiduciary…
Jeffrey Collins Kinder of St. Louis Missouri is a stockbroker formerly registered with Huntleigh Securities Corporation who has been fined twenty thousand dollars and suspended for fifteen months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity by consenting to findings that he made unsuitable investment recommendations to customers in regard…
Jeffrey Randolph Wilson of Las Cruces New Mexico is a stockbroker currently registered with Wells Fargo Clearing Services that is subject of a customer initiated investment related arbitration claim in which the customer sought at least five thousand dollars in damages founded on accusations that Flaum made unsuitable investment recommendations to the customer regarding energy-sector…
Huntleigh Securities Corporation is a brokerage firm headquartered in St. Louis Missouri who has been censured by Financial Industry Regulatory Authority (FINRA) based upon consenting to findings that the firm overcharged customers on unit investment trust transactions and failed to supervise the application of sales charge discounts in customer accounts. Letter of Acceptance Waiver and…
Robert Douglas Armstrong of Boca Raton Florida is a stockbroker currently registered with Dawson James Securities Inc. who is the subject of a customer initiated investment related written complaint filed on January 16 2017 in which the customer requested one hundred thousand dollars in damages based upon allegations that misleading assurances and false representations were…
Kermit Gordon Cable Jr, of Arlington Texas is a stockbroker formerly registered with Cambridge Investment Research and investment advisor representative formerly registered with Cambridge Research Advisors Inc. who is subject of a Texas State Securities Board Order which suspended him in an investment advisory representative capacity for one-hundred fifty days founded on allegations that he…
David Wayne Krumrey of the Woodlands Texas is a stockbroker formerly registered with Oppenheimer & Co. Inc. that has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because he failed to respond to FINRA personnel’s information request. Case No. 2017055552901 (Jan. 29 2018). FINRA Public Disclosure reveals that…
Keith Joseph Michelfelder of New York New York is a stockbroker formerly registered with Joseph Gunnar that had his securities registration revoked by Financial Industry Regulatory Authority (FINRA) according to FINRA Rule 8230 based upon Michelfelder’s failure to pay a ten thousand dollar fine that FINRA ordered because of Michelfelder having placed trades in customer…
Lyle J. Boudreaux of Houston Texas is a stockbroker currently registered with Independent Financial Group LLC who is subject of a customer initiated investment related written complaint on October 27 2017 in which the customer sought two hundred ten thousand dollars in damages founded on accusations that unsuitable leveraged exchange traded fund transactions were effected…
Vincent Sciabica of Albany New York is a stockbroker formerly registered with Morgan Stanley who has been fined five thousand dollars and suspended for six months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he effected unit investment trust transactions in customer accounts in…
Tamara Rae Steele of Pendleton Indiana is a stockbroker formerly registered with Comprehensive Asset Management and Servicing Inc. who has been fired on June 13 2017 based upon accusations that she engaged in private securities transactions that involved several of the firm’s customers even though Steele never gained the firm’s authorization to engage in those…
Michael Ciro Colletti of Melville New York is a stockbroker formerly registered with National Securities Corporation who has been fined seven thousand five-hundred dollars and suspended for three months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity according to an Order Accepting Offer of Settlement containing findings that Colletti failed…
Robert Steven Clarke of Cincinnati Ohio is a stockbroker formerly registered with Ross Sinclaire & Associates LLC who is the subject of a customer initiated investment related arbitration claim in which the customer sought five hundred thousand dollars in damages founded on allegations that misrepresentations were made to the customer regarding collateralized mortgage obligations products….
Vanessa Beth-Anne Reeves-Farry of Oroville California is a stockbroker formerly registered with J.P. Morgan Securities LLC who has been fined five thousand dollars and suspended for six months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity by consenting to findings that she failed to timely cooperate with FINRA in an…
David Francis Faline of Boca Raton Florida is a stockbroker formerly registered with Newbridge Securities Corporation who is the subject of a customer initiated investment related arbitration claim in which the customer requested two hundred thousand dollars in damages based upon accusations that Faline made unsuitable investment recommendations to the customer which caused the customer…
Cory D. Bataan of Melville New York is a stockbroker currently registered with Aegis Capital Corp. who has been fined five thousand dollars and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity by consenting to findings that he executed trades in customer investment accounts without authorization. Letter of Acceptance…
Steve Morris of New York New York is a stockbroker formerly registered with Wynston Hill Capital LLC who has been has suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity by consenting to findings that he failed to adequately respond to FINRA staff regarding his compliance with a settlement agreement…
Donald Kay Gross II of Parsippany New Jersey is a stockbroker formerly registered with Summit Equities Inc. who is the subject of an Order of Summary Suspension issued by California Department of Insurance wherein Gross was suspended for three months from engaging in insurance business in California supported by allegations against Gross of selling away…
Kenneth H. South of Newport Beach California is a stockbroker currently registered with Oppenheimer & Co. Inc. who is the subject of a customer initiated investment related arbitration claim in which the customer requested over one hundred sixty-one thousand dollars in damages based upon allegations that between June 1 2015 and February 1 2017 the…
Shakela Carter of Fort Lauderdale Florida is a stockbroker formerly registered with Merrill Lynch who has been charged by Financial Industry Regulatory Authority (FINRA) in a Complaint alleging that she failed to testify in an investigation into accusations of her selling away from the firm. Department of Enforcement v. Shakela Carter Disciplinary Proceeding No. 20160492021-01…
Gregory Gassoso of Edison New Jersey is a stockbroker formerly registered with National Securities Corporation who has been fined five thousand dollars and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity by consenting to findings that he executed unauthorized stock trades in a customer’s investment account. Letter of Acceptance…
Francis Joseph Gendlek of East Brunswick New Jersey is a stockbroker formerly registered with IFS Securities who has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity by consenting to findings that he made fraudulent omissions and misrepresentations relating to his private securities transactions. Letter of Acceptance Waiver and…
Thomas Francis Niles of Saratoga Springs New York is a stockbroker associated with Morgan Stanley who has been fined five thousand dollars and suspended for three months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he effected transactions in customer accounts that were not…
Guy Charles Conger of San Antonio Texas is a former stockbroker of Money Concepts Capital Corp who has been fined fifteen thousand dollars and suspended for six months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he (1) utilized discretion in customer accounts in…
Brett Alexander Ashy of Jackson Mississippi is a registered representative formerly employed with MWA Financial Services Inc. who has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any and all capacities based upon consenting to findings that he failed to cooperate with FINRA in an investigation into allegations of Ashy’s…
Shaun Eugene Hayes of Fort Worth Texas is a stockbroker formerly registered with Merrill Lynch who is the subject of a customer initiated investment related complaint which settled on December 19 2017 for one hundred twenty-five thousand dollars in damages based upon allegations that stock trades had been effected in the customer’s account without the…
Peter Orlando is a stockbroker formerly associated with SCF Securities Inc. who is the subject of a Complaint brought by Financial Industry Regulatory Authority (FINRA) containing accusations that Orlando made unsuitable investment recommendations to a customer and procured signed but otherwise blank documents to effect transactions. Department of Enforcement v. Peter Orlando Disciplinary Proceeding No….
Stanley Robert Cohen of Calabasas California is a stockbroker formerly registered with Ameriprise Financial Services who is the subject of a customer initiated investment related arbitration claim where the customer requested over three hundred sixty-one thousand dollars in damages founded on allegations that Cohen made unsuitable fixed and variable annuity recommendations to the customer and…
Mark B. Degner of Fall River Massachusetts is a former stockbroker of LPL Financial that has been fined seven thousand five hundred dollars and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he made misrepresentations to customers concerning certificate of deposits. Letter of…
Berthel Fisher Co. Financial Services Inc. is a broker-dealer headquartered in Cedar Rapids Iowa that has been censured and fined two hundred and twenty-five thousand dollars according to an Office of Hearing Officers Order Accepting Offer of Settlement containing findings that the firm failed to supervise unit investment trust transactions effected in customer accounts. Department…
Kevin Mark Nast of Northville Michigan is a stockbroker formerly registered with Transamerica Financial Advisors Inc. who is the subject of a customer initiated investment related arbitration claim which settled for fourteen thousand dollars in damages supported by accusations that Nast made unsuitable investment recommendations to the customer and executed unauthorized transactions in the customer’s…
Ricardo Rodriguez-Stern of New York New York is a former J.P. Morgan Securities LLC stockbroker who has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity according to an Office of Hearing Officers Default Decision containing findings that Rodriguez-Stern neglected to cooperate in a FINRA investigation into his customer…
Michael Quiles III of Long Island City New York is a stockbroker formerly registered with LPL Financial LLC who has been charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement in a Complaint alleging that Quiles failed to cooperate in a FINRA investigation into accusations of his unapproved customer loan arrangement. Department of Enforcement…
Coleman Joseph Devlin is a stockbroker formerly registered with Stifel Nicolaus who is the subject of a customer initiated investment related arbitration claim where the customer requested three hundred thousand dollars in damages based upon accusations of (1) violations of Maryland Securities Act (2) breach of fiduciary duty (3) breach of contract (4) common law…
Donna Boyd of Houston Texas is an investment adviser and stockbroker formerly registered with Sunbelt Securities that has been barred by the Securities and Exchange Commission (SEC) from acting as an investment adviser or broker according an Order Instituting Administrative Proceedings Pursuant to Section 15(b) of the Securities Exchange Act of 1934 and Section 203(f)…
Linda Sue Zara of Boca Raton Florida is a stockbroker associated with Wells Fargo Clearing Services who has been fired in December 2017 based upon accusations that she executed an unapproved customer loan arrangement in violation of Wells Fargo’s policies. Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that a customer initiated investment related arbitration…
Ryan Michael Murnane of Staten Island New York is a stockbroker formerly registered with Woodstock Financial Group who is subject of a Notice of Proposed Agency Action and Opportunity for Hearing brought by the Office of the Commissioner of Securities and Insurance Montana State Auditor which alleged that Murnane committed securities fraud. In the Matter…
Timothy Charles Sullivan of San Ramon California is a stockbroker registered with SII Investments Inc. who has been fired in December 2017 based upon accusations that he utilized unauthorized communication vehicles and failed to make required regulatory disclosures. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Sullivan has been referenced in nine customer initiated…
James Randall Clay of Clarksville Tennessee is a stockbroker formerly registered with U.S. Bancorp Investments Inc.James Randall Clay who has been charged by Financial Industry Regulatory Authority (FINRA) in a Complaint alleging that he engaged in unapproved outside business activities and falsified statements to his firm and FINRA personnel in regard to his business activities….
Clifford C. Vatter III of Louisville Kentucky was a stockbroker formerly registered with Raymond James and Associates Inc. whom the firm fired in July 2017 based upon accusations that Vatter placed trades in a customer’s account without the customer’s authorization. Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that Vatter has been identified in six…
Thomas Whitmeyer O’Brien of Shreveport Louisiana is a stockbroker currently registered with Raymond James who is the subject of a customer initiated investment related arbitration claim in which the customer requested five million dollars in damages supported by allegations including (1) overconcentration in the customer’s account (2) unauthorized trading (3) fraudulent concealment (4) fraudulent or…
Tom Gilliam Parks Jr. of Stephenville Texas is a stockbroker formerly registered with Ameriprise Financial Services Inc. who is the subject of a customer initiated investment related written complaint on October 6 2017 where the customer requested four hundred thousand dollars in damages founded on allegations that Parks made unsuitable investment recommendations to the customer…
Howard Joseph Allen III of New York, New York, owner of Portfolio Advisors Alliance, LLC, has been charged by Securities and Exchange Commission (SEC) in a Complaint alleging that Allen, inter alia, made fraudulent misrepresentations to investors. Securities and Exchange Commission v. Howard J. Allen III, Civil Action No. 16-cv-00828 (S.D.N.Y. Feb. 3, 2016). According…
Walter Roland Valenzuela, of Del Mar, California, a stockbroker currently registered with Hilltop Securities, Inc., is the subject of a customer initiated investment related arbitration claim, where the customer requested $9,500,000.00 in damages supported by allegations of elder abuse, misrepresentation, excessive trading, breach of fiduciary duty, excessive mark-downs and mark-ups, inappropriate margin use, suitability, and…
Richard Channing Hawkes, of Orange, California, a stockbroker employed with VALIC Financial Advisors, Inc., has been fired on May 4, 2016, founded on accusations that he effected investment transactions involving products that had not been approved for sale by the firm, violating the firm’s policies regarding selling away. This is not the first time that…
Michael James Blake, of Ameritas Investment Corp., a stockbroker formerly employed with Ameritas Investment Corp., is the subject of a customer initiated investment related arbitration claim, in which the customer sought $50,000.00 in damages supported by accusations of breach of contract, breach of fiduciary duty, suitability, fraudulent concealment, misrepresentation, and violation of the Securities Act…
Sagepoint Financial, Inc., a brokerage firm headquartered in Phoenix, Arizona, has been censured and fined $75,000.00 by Financial Industry Regulatory Authority (FINRA) by consenting to findings that the firm failed to apply sales charge waivers on customers’ purchases of mutual funds when customers were eligible, and failed to supervise the application of sales charge waivers….
Paul Ellias Colchamiro, of Melville, New York, a stockbroker currently registered with Oppenheimer & Co. Inc., is the subject of a customer initiated investment related arbitration claim, in which the customer sought at least $2,000,000.00 in damages founded on allegations including: closed-end funds and equities were effected in the customer’s account that were not suitable…
Lucia Securities, LLC, a brokerage firm headquartered in San Diego, California, has been censured and fined $35,000.00 by Financial Industry Regulatory Authority (FINRA) by consenting to findings that the firm failed to supervise and preserve consolidated reports which had been distributed to the firm’s customers. Letter of Acceptance, Waiver and Consent, No. 2017055425901 (Jan. 9,…
Kevin Douglas Houser, of Allentown, Pennsylvania, a stockbroker formerly employed with LPL Financial LLC, is the subject of a customer initiated investment related arbitration claim, in which the customer requested $250,000.00 in damages based upon allegations that Houser made misrepresentations to the customer concerning annuities, and executed variable annuity transactions that were not suitable for…
Patricia S. Miller, of McMurray, Pennsylvania, a stockbroker formerly employed with Investors Capital Corp., has been barred from associating with an investment advisory or brokerage firm in any capacity according to a Securities and Exchange Commission (SEC) Order containing findings that Miller committed securities fraud. In the Matter of Patricia S. Miller, Administrative Proceeding File…
Anthony John O’Callaghan, of New York, New York, a stockbroker formerly employed with Credit Suisse Securities (USA) LLC, is the subject of a customer initiated investment related written complaint on February 23, 2017, in which the customer requested $57,298.00 in damages supported by allegations that an inappropriate inverse exchange traded fund transaction was effected in…
Meyers Associates, L.P. (now known as Windsor Street Capital, L.P.) has been censured and fined $700,000.00 and its president, Bruce Meyers, fined $100,000.00 and barred in a supervisory capacity by Financial Industry Regulatory Authority (FINRA) according to a National Adjudicatory Council Decision confirming that Meyers, inter alia, had disseminated misleading and unbalanced investment related communications…
Lawrence Marc Lowe, of New York, New York, a stockbroker formerly employed with Laidlaw & Company (UK) Ltd., is the subject of a customer initiated investment related arbitration claim, which settled for $7,500.00 in damages supported by accusations that between 2015 and 2017, unsuitable stock and over-the-counter equities transactions were executed in the customer’s investment…
Jeffrey Paul Dragon, of Burlington, Massachusetts, a stockbroker formerly registered with Berthel, Fisher & Co. Financial Services, Inc., has been fined $50,000.00 and suspended for twenty-one months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity according to a FINRA Office of Hearing Officers Order Accepting Offer of Settlement containing findings…
Wayne Thomas Boucher, of Southfield, Michigan, a stockbroker formerly registered with Corecap Investments, Inc., is the subject of a customer initiated investment related arbitration claim, in which the customer requested $750,000.00 in damages supported by accusations that risky and unsuitable corporate bond purchases were executed in the customer’s account, and the customer was defrauded in…
Gregory Edward Barr, of Boca Raton, Florida, a stockbroker formerly employed with Deutsche Bank Securities Inc., has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based on consenting to findings that he effected unauthorized transactions in customer accounts. Letter of Acceptance, Waiver and Consent, No….
David Aron Dudkin, of Morristown, New Jersey, a stockbroker formerly registered with Securevest Financial Group, is the subject of a customer initiated investment related written complaint on June 23, 2015, in which the customer requested $260,000.00 in damages supported by allegations that Dudkin failed to liquidate the customer’s over-the-counter equity portfolio, causing the customer to…
Jennifer Lynn Steele, of Tampa, Florida, a stockbroker formerly registered with Harbor Light Securities, LLC, has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that she engaged in unapproved outside business activities. Letter of Acceptance, Waiver and Consent, No. 2014040343702…
Erin Olin Shanks, of Richardson, Texas, a stockbroker formerly employed with Cuso Financial Services, L.P., is the subject of a customer initiated investment related written complaint, which settled on June 2, 2017 for $24,731.97 in damages based upon allegations that the customer was issued a variable annuity that had been improperly structured, causing the customer…
Steve Patrick Walsh, of Clive, Iowa, a stockbroker currently registered with H. Beck, Inc., is the subject of a Financial Office of Financial Regulation Order which denied his application for securities registration according to a Stipulation and Consent Agreement containing findings that Walsh made misstatements to Florida’s Office of Financial Regulation within his application for…
Kathie Lee Foreman, of Maumee, Ohio, a stockbroker formerly employed with Sigma Financial Corporation, is the subject of a customer initiated investment related arbitration claim, which was settled to resolve accusations that the customer’s account was inappropriately managed, causing the customer to sustain investment losses. Financial Industry Regulatory Authority (FINRA) Arbitration No. 16-02219 (April 19,…
Jeffrey E. Krupnick, of Sarasota, Florida, a stockbroker formerly employed with Wells Fargo, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity according to an Extended Hearing Panel Decision containing findings that Krupnick converted a customer’s funds. Department of Enforcement v. Jeffrey E. Krupnick, Disciplinary Proceeding No. 2014043869901…
Leonard Jay Suskind, of Aventura, Florida, a stockbroker currently employed with UBS Financial Services, Inc., is the subject of a customer initiated investment related arbitration claim, where the customer requested $220,000.00 in damages based upon accusations that between 2013 and 2016, Suskind failed to follow the customer’s instructions to sell a master limited partnership position,…
Douglas Anthony Leone, of Melville, New York, a stockbroker formerly registered with Salomon Whitney Financial, has been charged by Financial Industry Regulatory Authority (FINRA) in a Complaint alleging that he failed to provide testimony in a FINRA investigation into his potentially unsuitable investment recommendations. Department of Enforcement v. Douglas Anthony Leone, No. 2016052560002 (Jan. 9,…
James Dee Carlson, of Greensboro, North Carolina, a stockbroker formerly employed with UBS Financial Services, has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by consenting to findings that he executed trades in customer accounts without authorization from the customers or firm. Letter of…
Eric Brian Rosenberg, of New York, New York, a stockbroker currently registered with Oppenheimer & Co. Inc., is the subject of a customer initiated investment related complaint, which settled on April 5, 2016 for $35,285.00 in damages founded on allegations that Rosenberg effected a Transocean corporate bond purchase in the customer’s account that was neither…
Scott Lindsay Reed, of Indianapolis, Indiana, a stockbroker formerly registered with David A. Noyes & Company, is the subject of a customer initiated investment related arbitration claim, where the customer requested $379,245.00 in damages based upon allegations that Reed made omissions and misrepresentations to the customer concerning Digonex and BRS alternative investments, and placed unsuitable…
John Greg Schmidt, of Dayton, Ohio, a stockbroker formerly registered with Wells Fargo Advisors Financial Network, LLC, has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based on Schmidt’s failure to provide FINRA with information relating to his business activities. Case No. 2017056103801 (Nov. 29, 2017). FINRA Public…
Pedro Omar Diaz, of Coconut Creek, Florida, a stockbroker employed with LPL Financial LLC, has been fired on November 29, 2017, founded on accusations that he violated LPL Financial’s policy by engaging in the short-term trading of mutual fund trades in customer accounts. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Diaz has been…
Michael David Zeran, of Marion, Iowa, a stockbroker registered with Bancwest Investment Services, Inc., has been fired on July 12, 2016, supported by allegations that an investigation into Zeran’s business activities revealed that he engaged in short-term trading of mutual funds in customer accounts and mismarked investment transactions as unsolicited, causing the firm to lose…
Jeffrey Scott Ingros of Beaver, Pennsylvania, a former Raymond James Financial Services, Inc. stockbroker, is the subject of a customer initiated investment related written complaint on August 30, 2016, where the customer requested at least $5,000.00 in damages based upon accusations that Ingros made misrepresentations to the customer and executed unsuitable structure product transactions. Financial…
Abida Khan, also known as Sheik Firdosh Khan, of Passadena, California, a stockbroker formerly employed with Ameritas Investment Corp., has been permanently barred by the Securities and Exchange Commission (SEC) from acting as an investment adviser or broker, or associating with firms that provide investment advice or sell securities to the public, according to an…
Jeffrey Brewer McAleney, of Morristown, New Jersey, a stockbroker currently registered with J.P. Morgan Securities, LLC, is the subject of a customer initiated investment related written complaint on October 13, 2017, where the customer requested $20,271.50 in damages supported by allegations that between 2014 and 2016, McAleney made unsuitable investment recommendations to the customer regarding…
Colin Edward Hammer, of Akron, Ohio, a stockbroker registered with Morgan Stanley, has been fined $2,500.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity by consenting to findings that he placed unauthorized trades in customer accounts. Letter of Acceptance, Waiver and Consent, No. 2016051154701 (Jan. 22, 2018). According…
Matthew Aaron Turner, of Ponte Vedra Beach, Florida, a stockbroker currently employed with BB&T Securities, LLC, is the subject of a customer initiated investment related written complaint, which settled on December 27, 2017 for $14,999.00 in damages supported by allegations that Turner made unsuitable investment recommendations to the customer concerning a variable annuity, causing the…
Charles Albert Dixon, Junior, of Houston, Texas, a stockbroker formerly employed with Morgan Stanley Smith Barney, LLC, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he failed to cooperate with FINRA in an investigation into Dixon’s alleged unauthorized trading in customer…
James Ernest Joly, of East Greenwich, Rhode Island, a stockbroker formerly employed with LPL Financial, LLC, is the subject of a customer initiated investment related written complaint on September 22, 2017, in which the customer sought damages estimated at more than $5,000.00 supported by allegations that unauthorized and unsuitable non-traded real estate investment trust and…
William Mark Heiden, of Newport Beach, California, a stockbroker currently employed with Wedbush Securities, is the subject of a customer initiated investment related arbitration claim, where the customer has requested $41,835.00 in damages founded on accusations that investment recommendations relating to Clearbridge American Energy master limited partnership interests were not suitable for the customer, fiduciary…
Richard Charles Foster, of Tulsa Oklahoma, a stockbroker formerly registered with Cetera Investment Services, LLC, has been fined $10,000.00 and suspended for six months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity by consenting to findings that he made unsuitable investment recommendations to customers. Letter of Acceptance, Waiver and Consent,…
Richard Alan Shotz, of Ormond Beach, Florida, a stockbroker formerly registered with Morgan Stanley, has been fined $7,500.00 and suspended for four months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by consenting to findings that he placed short-term unit investment trust trades in customer accounts that were not…
Matthew Kerby, of Paoli, Indiana, a stockbroker formerly registered with Edward Jones, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity by consenting to findings that he failed to cooperate in a FINRA investigation into accusations that Kerby converted funds from a customer. Letter of Acceptance, Waiver and…
James Stewart Meagher, of New York, New York, a stockbroker formerly employed with Chardan Capital Markets, LLC, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity according to an Office of Hearing Officers Default Decision containing findings that Meagher engaged in manipulative and fraudulent trading, misappropriated funds of…
Matthew Earl Peregoy, of Brick, New Jersey, a stockbroker formerly registered with Investors Capital Corp., has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he failed to comply with FINRA in the course of an investigation into Peregoy’s alleged mishandling of funds….
David Allan Cohen, of Rockville, Maryland, a stockbroker formerly registered with AXA Advisors, LLC, is the subject of a customer initiated investment related arbitration claim, in which the customer sought $80,000.00 in damages supported by accusations that Cohen made unsuitable investment recommendations to the customer concerning the customer’s purchase of an annuity and life insurance…
Bradley Carl Mascho, of Frederick, Maryland, a stockbroker formerly employed with Western International Securities, Inc., has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity by consenting to findings that he failed to testify in a FINRA investigation into accusations of Mascho’s possible fraudulent conduct, private securities transactions and…
Daniel Todd Lerner, of White Plains, New York, a stockbroker currently registered with David Lerner Associates, Inc., is the subject of a customer initiated investment related written complaint on August 22, 2016, in which the customer sought $16,756.00 in damages founded on accusations that between August of 2015 to August of 2016, misrepresentations had been…
Guillermo William Valladolid, of La Jolla, California, a stockbroker formerly employed with Morgan Stanley, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity by consenting to findings that he failed to comply with FINRA in an investigation into allegations of Valladolid selling away from Morgan Stanley. Letter of…
Peter George Ruggiere, of Boca Raton, Florida, a stockbroker currently registered with Dawson James Securities, Inc., is the subject of a customer initiated investment related written complaint on November 7, 2017, in which the customer sought $34,869.00 in damages based upon allegations that between May of 2016 and November of 2017, misrepresentations had been made…
Daniel Benjamin Vazquez, Senior, of Irvine, California, a stockbroker formerly employed with Cetera Advisors LLC, and founder and chief executive officer of Hoplon Financial Group and New Economic Opportunities Fund I, LLC, has been charged by the Securities and Exchange Commission (SEC) in a Complaint alleging that he engaged in a fraudulent real estate offering….
Andrew Joseph Hall, of Portland, Oregon, a stockbroker currently employed with Ameriprise Financial Services, Inc., is the subject of a customer initiated investment related arbitration claim, wherein the customer was awarded $191,772.00 in damages supported by findings that from May of 2014 to December of 2015, Hall negligently handled the customer’s investment account, breached his…
Kimberly Pine Kitts, of Palmer, Massachusetts, a stockbroker formerly employed with Royal Alliance Associates, Inc., has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by allegations that she failed to abide by FINRA’s request of furnishing information relating to Kitt’s business activities. Case No. 2017056380201 (Jan. 2,…
James Lebaron Springer of Sarasota, Florida, a stockbroker formerly registered with UBS Financial Services Inc., is the subject of a customer initiated investment related written complaint on December 12, 2016, in which the customer sought at least $5,000.00 in damages supported by allegations that between 2011 and 2016, Springer sold the customer’s blue-chip stocks and…
John Stephen Macgowan of New York, New York, a stockbroker formerly registered with Raymond James Financial Services, Inc., was fired on October 2, 2017, based upon accusations that he failed to mark order tickets in accordance with Raymond James procedures. This is not the first time that Macgowan has been terminated from employment based upon allegations…
Ryan Neel Bowers, of San Diego, California, the chief compliance officer and managing principal with Enviso Capital and former stockbroker with WFG Investments, Inc., has been fined $50,000.00 and barred from associating with, inter alia, any investment adviser, broker or dealer according to a Securities and Exchange Commission (SEC) Order containing findings that Bowers made…
Joseph Rawley Stowell Jr, of Peoria Heights, a stockbroker formerly registered with Securities America, Inc., is the subject of a customer initiated investment related written complaint on November 9, 2016, in which the customer sought $77,000.00 in damages founded on accusations that Stowell poorly advised the customer about investing in mutual funds and stocks, causing…
Davenport & Company, LLC, a broker-dealer headquartered in Richmond, Virginia, was censured and fined $115,000.00 by Financial Industry Regulatory Authority (FINRA) by consenting to findings that the firm, inter alia, failed to supervise consolidated reports distributed to customers regarding their investment accounts. Letter of Acceptance, Waiver and Consent, No. 2016051515201 (Dec. 27, 2017). According to…
James Craig Chesser II, of Champaign, Illinois, a stockbroker formerly registered with the O.N. Equity Sales Company, is the subject of a customer initiated investment related arbitration claim, where the customer requested $6,900,000.00 in damages supported by accusations that Chesser inappropriately managed the customer’s investment portfolio of mutual funds, insurance products, equities and variable annuities….
Robert Edward Schultz, of New Smyrna Beach, Florida, a stockbroker formerly registered with Newport Coast Securities, Inc., is the subject of a customer initiated investment related arbitration claim, which settled for 20,000.00 in damages based upon allegations that Schultz breached his fiduciary duties to the customer, made misrepresentations and omissions, and executed unsuitable transactions regarding…
FSC Securities Corporation, a brokerage firm headquartered in Atlanta, Georgia, has been censured and fined $100,000.00 by Financial Industry Regulatory Authority (FINRA) by consenting to findings that it failed to apply mutual fund sales charge waivers for its customers that were eligible to receive them. Letter of Acceptance, Waiver and Consent, No. 2017054137901 (Dec. 20,…
Clyde Darrel Jones of Whitesboro, Texas, a stockbroker currently registered with Titan Securities of Addison Texas (CRD No. 131392), is the subject of a customer initiated investment related arbitration claim, which settled for $22,500.00 in damages supported by allegations that Jones made misrepresentations to the customer and unsuitable investment recommendations regarding a viatical settlement. FINRA…
James Anthony Merkel of Frederick, Maryland, a stockbroker formerly registered with Merrill Lynch, Pierce, Fenner & Smith Incorporated, has been fired on August 21, 2017, based upon allegations that he sold away from his firm and that his private securities transactions were violative of the firm’s policies. Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that…
Stephen Douglas Pizzuti, of Altamonte Springs, Florida, a stockbroker formerly registered with Merrimac Corporate Securities, Inc., is the subject of a customer initiated investment related written complaint, in which the customer sought $90,000.00 in damages based upon allegations that inappropriate equity and direct investment products were effected in the customer’s account. Financial Industry Regulatory Authority…
James David Goodland, of Plymouth, Indiana, a stockbroker formerly registered with Cambridge Investment Research, as well as president and chief compliance officer of Securus Wealth Management, LLC, has been fined $30,000.00 and barred by the Securities and Exchange Commission (SEC) from working in a compliance or supervisory capacity with any brokerage firm or investment advisory…
Michael Brian Walk of Longwood, Florida, a stockbroker currently registered with Kestra Investment Services, LLC, is the subject of a customer initiated investment related arbitration claim, in which the customer requested $72,000.00 in damages founded on accusations that Walk made unsuitable investment recommendations to the customer in regard to real estate security and direct investment…
Kwimin Ahn of New York, New York, a stockbroker formerly registered with Pruco Securities, LLC, has been terminated from employment on May 25, 2017, based upon accusations that he violated the firm’s policies by reusing customer signatures on an annuity application and transfer documents in order to effect transactions. Financial Industry Regulatory Authority (FINRA) Public Disclosure…
Michael Todd Hogan of Plymouth, Minnesota, a stockbroker formerly registered with Voya Financial Advisors, Inc., is the subject of a customer initiated investment related written complaint on July 7, 2017, where the customer sought $350,000.00 in damages based upon accusations that Hogan made misrepresentations about variable annuity products, and made unsuitable investment recommendations to the customer….
Ashley Elmo Arnsdorff of Charleston, South Carolina, a stockbroker formerly registered with BB&T Investment Services, Inc., has been fined and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he attempted to settle a customer’s complaint away from the firm. Letter of Acceptance, Waiver…
Kevin A. Bostory of Edison, New Jersey, a stockbroker formerly registered with National Securities Corp., is the subject of a customer initiated investment related arbitration claim, where the customer requested $36,509.00 in damages based upon accusations that Bostory breached his fiduciary duties to the customer and effected unsuitable equity transactions in the customer’s account. Financial…
Todd Kimm of Syracuse, New York, a stockbroker formerly registered with Merrill Lynch, Pierce, Fenner & Smith Incorporated, has been fined $5,000.00 and suspended for six months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he exercised discretion in customer accounts without authority, and placed…
Lauren Anne Ferrante, of Parma, Ohio, a stockbroker formerly registered with L&M Financial Services, is the subject of a customer initiated investment related written complaint on May 9, 2016, in which the customer requested $100,000.00 in damages based upon allegations that Ferrante effected unsuitable equity transactions in the customer’s account and failed to diversify the…
Neil Stanley Kaplan of Bethesda, Maryland, a stockbroker formerly registered with Morgan Stanley, is the subject of a customer initiated investment related civil action brought in the Circuit Court of Montgomery County, Maryland on December 29, 2016, in which the customer sought $435,000.00 in damages founded on accusations that in 2015, stock trades were executed in…
Keven J. Jedlicka, of Baltimore, Maryland, a stockbroker formerly registered with Chaplin Davis, has been suspended for six months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he traded in customer accounts on an unsuitable basis. Letter of Acceptance, Waiver and Consent, No. 2016047659701…
Douglas E. Keller, of Woodbridge, New Jersey, a stockbroker formerly registered with AXA Advisors 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 based upon consenting to findings that he engaged in undisclosed outside business activities. Letter of Acceptance, Waiver and…
Gregory Joseph Rusnak of Saint Charles, Illinois, a stockbroker formerly registered with Sigma Financial Corporation, has been terminated from employment on December 13, 2017, based upon accusations that Rusnak violated Sigma’s policies by executing trades in a customer’s account on a discretionary basis. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that on March 28, 2008,…
Alan Robert Rosenberg of Garden City, New York, a stockbroker currently registered with Raymond James & Associates, Inc., is the subject of a customer initiated investment related arbitration claim, where the customer sought $150,000.00 in damages founded on accusations of suitability, negligence, and breach of fiduciary duty with respect to sector-specific stock transactions effected in the…
John Joseph Maloney III, of Morristown, Tennessee, a stockbroker formerly registered with Edward Jones, has been terminated from employment on May 10, 2016, based upon accusations that he failed to conform with the firm’s policies relating to the suitability of investment recommendations. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Maloney has been identified…
Michael Corbett Milne of Ocala, Florida, a stockbroker formerly registered with Kovack Securities, is the subject of a customer initiated investment related arbitration claim, which settled for $13,000.00 in damages supported by accusations that Milne breached his fiduciary duties, negligently handled the customer’s investment account, breached his contractual duties, made misrepresentations, effected unauthorized options and…
Robert Owen Kincaid of Sandpoint, Idaho, a stockbroker formerly registered with Edward Jones, is the subject of a customer initiated investment related arbitration claim, in which the customer requested $1,053,664.00 in damages based upon allegations that the customer’s assets were over-concentrated in mutual funds products. The customer additionally alleged that investment losses were caused by Edward…
Larry Martin Boggs of Dallas, Texas, a stockbroker formerly registered with Ameriprise Financial Services, Inc., has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he improperly exercised discretion in a customer’s account, and placed unsuitable and excessive trades in the customer’s account. Letter…
Judie Marie Borden of Kalamazoo, Michigan, a stockbroker registered with Northwestern Mutual Investment Services, LLC, was terminated on September 7, 2017, based upon a customer’s allegations that Borden inappropriately placed the customer’s signature on account distribution documents. Particularly, Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that on August 28, 2017, a customer filed an investment…
Derrick Timothy Watts of Saint Charles, Illinois, a stockbroker currently registered with Oppenheimer & Co., is the subject of a customer initiated investment related written complaint, in which the customer requested over $5,000.00 in damages founded on accusations that Watts churned the customer’s equity portfolio between January of 2010 and November of 2015. Financial Industry Regulatory…
Abed William Lulu, of Melville, New York, a stockbroker formerly registered with Worden Capital Management, was subject of the revocation of Lulu’s securities registration by Financial Industry Regulatory Authority (FINRA) based upon his failure to pay FINRA a $5,000.00 fine relating to a FINRA enforcement action in which Lulu was sanctioned for failing to make…
William D. Bucci of King of Prussia, a stockbroker formerly registered with Oppenheimer & Co., Inc., has been barred from the securities industry by the Securities and Exchange Commission (SEC) according to an Initial Decision Making Findings and Imposing Sanction by Default containing findings that Bucci, inter alia, had been convicted of securities fraud in violation…
Gary Raymond Gray of Las Vegas, Nevada, a stockbroker associated with Wells Fargo Clearing Services, has been fined $10,000.00 and suspended for three months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he effected unauthorized trades in customer accounts and mismarked trading tickets. Letter…
Ronald Lee Johnston of Daytona Beach, Florida, a stockbroker currently associated with Merrill Lynch, Pierce, Fenner & Smith Incorporated, is the subject of a customer initiated investment related written complaint, which settled on November 7, 2017 for $230,000.00 in damages based upon accusations of omissions and misrepresentations between August of 2016 and June of 2017…
Mark B. Geist of Lincoln, Nebraska, a stockbroker currently associated with UBS Financial Services Inc., is the subject of a customer initiated investment related arbitration claim on August 8, 2017, in which the customer sought $280,542.00 in damages founded on accusations of negligence, breach of fiduciary duty, and unsuitable fixed income mutual fund transactions having…
Woodbury Financial Services Inc., a brokerage firm headquartered in Oakdale, Minnesota, has been censured and fined $75,000.00 by Financial Industry Regulatory Authority (FINRA) based upon allegations that the firm failed to appropriately apply sales charge discounts for customers when the customers were eligible to receive them, overcharging them as a result. Letter of Acceptance, Waiver…
Stephen Carey Hamilton of New York, New York, a stockbroker currently registered with Laidlaw & Company (UK) Ltd., is the subject of a customer initiated investment related arbitration claim, in which the customer sought $21,704.00 in damages based upon allegations that Hamilton made misrepresentations to the customer and failed to execute the customer’s investment orders…
Howard Barry Steinman of Coral Springs, Florida, a stockbroker currently registered with Wells Fargo Clearing Services, LLC, is the subject of a customer initiated investment related civil action brought in the Circuit Court of Broward, Florida, in which the customer requested more than $5,000.00 in damages supported by accusations that Steinman effected unauthorized transactions in…
Lawrence John Fawcett Jr., of Farmingdale, New York, a stockbroker registered with Salomon Whitney Financial, has been fined $2,500.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity by consenting to findings that he made an unsuitable investment recommendation to a customer. Letter of Acceptance, Waiver and Consent, No….
Patrick Richard McNamara of Florham Park, New Jersey, a stockbroker currently registered with Merrill Lynch, Pierce, Fenner & Smith Incorporated, is the subject of a customer initiated investment related written complaint that settled on November 20, 2017 for $16,063.98 in damages supported by accusations that between September of 2011 and July of 2017, McNamara made…
William George Brunner of Huntington, New York, a stockbroker registered with Investment Planners, Inc., has been terminated from employment on May 12, 2017, based upon a customer’s allegations that Brunner exercised discretion in the customer’s account. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Brunner has been identified in five customer initiated investment related…
Shannon Lynn Lewis of Muscatine, Iowa, a registered representative with State Farm VP Management Company, has been fined $7,500.00 and suspended for six months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity by consenting to findings that he engaged in unapproved securities transactions. Letter of Acceptance, Waiver and Consent, No….
Kim Dung Le of Bloomington, Illinois, a registered representative associated with State Farm VP Management Corp., has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity by way of Le’s consent to findings that he failed to cooperate in an investigation into allegations of his outside business activities. Letter…
Richard Williamson of McKinney, Texas, a stockbroker registered with Girard Securities, Inc., is the subject of a customer initiated investment related civil action brought in the District Court of Dallas Texas, in which the customer sought $1,000,000.00 in damages based upon accusations that life insurance policies had been inappropriately sold to the customer from April…
Mircea Sauciuc of Leawood, Kansas, a stockbroker registered with Morgan Stanley Barney, has been fined $10,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he effected unauthorized transactions in a customer’s account and made unsuitable investment recommendations. Letter of Acceptance, Waiver and…
Keith Owen Flynn of Henderson, Nevada, a stockbroker registered with Ameriprise Financial Services, Inc., is the subject of a customer initiated investment related written complaint on October 18, 2017, where the customer sought $56,849.56 in damages based upon allegations that Flynn sold the customer a variable life insurance policy in January of 2017 without having reasonably…
Anthony John Salerno of South Easton, Massachusetts, a stockbroker registered with RBC Capital Markets, LLC, is the subject of a customer initiated investment related written complaint on November 1, 2017, where the customer requested $15,500.00 in damages based upon allegations that between August 26, 2016 and September 28, 2017, Salerno made unsuitable preferred stock recommendations…
Royal Alliance Securities, a brokerage firm headquartered in Jersey City, New Jersey, has been censured and fined $150,000.00 by Financial Industry Regulatory Authority (FINRA) based upon accusations that the firm failed to appropriately apply sales charge discounts for customers when the customers were eligible to receive them, overcharging them as a result. Letter of Acceptance,…
Dean Curtis Abraham of Las Vegas, Nevada, a stockbroker currently associated with Morgan Stanley, is the subject of a customer initiated investment related arbitration claim, where the customer sought $4,700,000.00 in damages supported by accusations that from 2003 to 2016, the customer was exposed to excessive trading and charging of fees relating to her variable annuity…
Charles Bernard Lynch Jr. of Irvine, California, a stockbroker registered with Wells Fargo Advisors, LLC, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity by consenting to findings that he made unsuitable investment recommendations to customers. Letter of Acceptance, Waiver and Consent, No. 2015045713301 (Dec. 11, 2017). According…
Rod I. Skaf of Dublin, Ohio, a stockbroker registered with MSI Financial Services, Inc., is the subject of a customer initiated investment related written complaint on September 12, 2017, where the customer requested $38,000.00 in damages based upon accusations that Skaf made misrepresentations to the customer relating to the terms and conditions of the customer’s…
Thomas Bertram Guthrie of Spokane Washington, a stockbroker currently associated with Robert W. Baird & Co. Incorporated, is the subject of a customer initiated investment related written complaint on August 4, 2017, in which the customer requested $450,000.00 in damages supported by accusations that stock transactions were effected in the customer’s account which were not…
Walter Warren Parker of Rowlett, Texas, a stockbroker currently associated with Titan Securities, is the subject of a Financial Industry Regulatory Authority (FINRA) investigation into Parker’s involvement in potentially unsuitable direct participation program transactions. FINRA Investigation No. 20160504921 (Nov. 15, 2017). FINRA Public Disclosure reveals that Parker has been identified in seven customer initiated investment…
Eric Christopher Erb of Babylon, New York, a stockbroker registered AXA Advisors, LLC, is the subject of two customer initiated investment related arbitration claims since he was fined $20,000.00 and suspended by Financial Industry Regulatory Authority (FINRA) for making unsuitable investment recommendations and misrepresentations about costs, fees and surrender penalties of annuities. Letter of Acceptance,…
Daniel Paul Doogs of Aurora, Indiana, a stockbroker registered with Ameriprise Financial Services, Inc., has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by allegations that Doogs failed to provide FINRA with a response to FINRA’s request for information about his business activities. FINRA Letter No. 2017053751801…
Michael Paul Massey of Vero Beach, Florida, a stockbroker currently associated with Raymond James & Associates, Inc., is the subject of a customer initiated investment related written complaint, which settled on October 20, 2017, for $25,000.00 in damages supported by accusations that between December 10, 2012 and May 12, 2016, Massey positioned a stock that…
Roy Elmer McGuffin of Cincinnati, Ohio, a stockbroker registered with Ameriprise Financial Services, Inc., was terminated from employment on September 19, 2017, based upon accusations that he may have violated the firm’s policies with respect to a customer’s beneficiary designation. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that on August 9, 2017, a customer…
David Hershel Weinstein of Boca Raton, Florida, a stockbroker currently registered with Dawson James Securities, Inc., is the subject of a customer initiated investment related arbitration claim, in which the customer requested $325,000.00 in damages based upon accusations that Weinstein over-concentrated the customer’s assets, and made unsuitable investment recommendations to the customer pertaining to over-the-counter…
Philip Stainislav Rabinovich of New York, New York, a stockbroker currently associated with the Dinosaur Financial Group, L.L.C. has been disgorged of $109,695.00, fined $130,000.00, suspended from working as a broker dealer or investment advisor; and ordered by the Securities and Exchange Commission (SEC) to cease and desist violating Securities Act of 1933 Section 5(a),…
Bruce Edward Orenstein of Weehawken, New Jersey, a stockbroker currently associated with UBS Financial Services, Inc., is the subject of a customer initiated investment related written complaint on October 18, 2017, where the customer requested more than $5,000.00 in damages supported by accusations that the customer was sold variable annuity products without having been informed…
Hong Kun Pan of Flushing, New York, a stockbroker associated with Pruco Securities, L.L.C., has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that he failed to reply to FINRA’s request for information about his business activities. Case No. 2016050091704 (Dec. 11, 2017). FINRA Public…
Charles Thomas Stevens of Saint Augustine, Florida, a stockbroker currently associated with D.H. Hill Securities, LLLP, is the subject of a customer initiated investment related arbitration claim, where the customer alleged breach of contract, negligence, breach of fiduciary duty, and unsuitable investment recommendations of business development companies, real estate investment trusts and a variable annuity….
Steven Robert Karmelin of West Palm Beach, Florida, a stockbroker currently registered with RBC Capital Markets, LLC, is the subject of a customer initiated investment related written complaint brought by a customer on August 14, 2017, where the customer sought $280,000.00 in damages founded on accusations that between February 4, 2011 and August 7, 2017,…
Christian Desmond Fautz of Fort Myers, Florida, a stockbroker registered with AXA Advisors, LLC, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations Fautz never provided FINRA with a response to its request for information about his business activities. Case No. 2017054319701 (Nov. 6, 2017). FINRA…
James Barton Lowther of Sarasota, Florida, a stockbroker currently associated with Merrill Lynch, Pierce, Fenner & Smith Incorporated, is the subject of a customer initiated investment related arbitration claim, in which the customer sought $300,000.00 in damages based upon accusations of misrepresentations and omissions, unsuitable investment recommendations, and unauthorized master limited partnership transactions between November…
Scott William Palmer of Hackensack, New Jersey, a stockbroker associated with Janney Montgomery Scott, was terminated from employment on May 24, 2017, based upon allegations that the firm lost confidence in him after learning of the customer complaints that had been lodged against him. Particularly, Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that on…
Melvin Elwood Case of Jacksonville, Florida, a stockbroker registered with LPL Financial LLC, was fired on May 2, 2017, based upon allegations that he had exploited an elderly individual after converting that individual’s funds for Case’s personal gain. Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that Case is referenced in five customer initiated investment…
Eric Richard Marlin of Solana Beach, California, a stockbroker registered with Finance 500, Inc., is the subject of a customer initiated investment related arbitration claim, where the customer sought $1,070,145.00 in damages founded on accusations including breach of contract, negligent misrepresentations and omissions, breach of fiduciary duty, breach of the covenant of good faith and…
Anthony Joseph Dibernardo of Melville, New York, a stockbroker associated with Hornor, Townsend & Kent, Inc., has been fired on June 29, 2017, based upon allegations that he effected a trade in a customer’s account without authorization. Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that Dibernardo is referenced in two customer initiated investment related…
Michael Darren Bell of Rochester, New York, a stockbroker registered with Morgan Stanley Smith Barney, is the subject of a customer initiated investment related written complaint on June 27, 2017, alleging that between June of 2014 and March of 2017, mutual fund trades were effected in the customer’s account without authorization. Financial Industry Regulatory Authority…
Robert C. Wynn of Glendale, California, a stockbroker registered with Park Avenue Securities LLC, is the subject of a customer initiated investment related arbitration claim, which settled for $75,000.00 in damages supported by accusations that stock trades were executed in the customer’s securities account that were neither suitable nor authorized by the customer. Financial Industry…
James Morgan Levitt of New York, New York, a stockbroker associated with Morgan Stanley, is the subject of a customer initiated investment related written complaint, which settled on June 19, 2017 for $9,000.00 in damages supported by allegations that between March 1, 2014 and December 31, 2014, Levitt executed excessive trades relating to closed-end funds, exchange…
Accelerated Capital Group, Inc. a brokerage firm headquartered in Costa Mesa, California, has been charged by Financial Industry Regulatory Authority (FINRA) in a Complaint alleging that the firm failed to supervise its trading activities. Department of Enforcement v. Accelerated Capital Group, Inc., Disciplinary Proceeding No. 2012033566205 (Dec. 13, 2017). According to the Complaint, between August…
David Warren Olson of Saint Petersburg, Florida, a stockbroker associated with Morgan Stanley Wealth Management, has been fired on December 20, 2016, based upon allegations that he participated in undisclosed outside business activities and solicited a customer loan. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Olson has been identified in eight more customer…
Aaron Leonard Heimowitz of Melville, New York, a stockbroker registered with Newport Coast Securities, has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity on December 3, 2015, based upon accusations that he failed to comply with a $403,162.00 customer award in FINRA Arbitration Case No. 13-03293 (May 29,…
Jon Lewis Bowles of Pasadena, California, a stockbroker registered with FSC Securities, Inc., is the subject of a customer initiated investment related arbitration claim, where the customer sought $50,000.00 in damages based upon allegations of violation of FINRA Rules, violation of state and federal laws, breach of contract, breach of fiduciary duty, misrepresentation, suitability and…
Jeremy David Hare of Bala Cynwyd, Pennsylvania, a stockbroker associated with Gilford Securities Incorporated, has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity on January 4, 2014, based upon consenting to findings that he failed to comply with a customer award of $249,303.21 in FINRA Arbitration No. 11-03778,…
Timothy Revell Roberson of Brentwood, Tennessee, a stockbroker currently registered with Merrill Lynch, Pierce, Fenner & Smith Incorporated, is the subject of a customer initiated investment related written complaint, which settled for $30,543.31 in damages supported by accusations that Roberson made misrepresentations and omissions to the customer between September of 2015 and May of 2017 in…
Jon Mark Dabareiner, of Hardy, Virginia, an investment adviser representative with Concord Wealth Partners, has been terminated on September 25, 2017, based upon allegations that he committed violations of industry standards and rules. This is not the first time that Dabareiner has been terminated by an employer based upon allegations of misconduct. Particularly, Dabareiner was…
Citigroup Global Markets Inc., a brokerage firm headquartered in New York, New York, has been censured and fined $5,500,000.00 by consenting to findings that the firm, inter alia, inaccurately exhibited ratings of equities that the firm offered to customers. Letter of Acceptance, Waiver and Consent, No. 2016048931101 (Dec. 21, 2017). According to the AWC, between…
Tyrone Pang of San Jose, California, a stockbroker registered with NYLife Securities LLC, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he failed to cooperate in a FINRA investigation into accusations of his improper customer account transactions. Letter of Acceptance, Waiver and…
David Richard Geake of Northbrook, Illinois, a stockbroker associated with Madison Avenue Securities, LLC, is the subject of a customer initiated investment related written complaint on August 9, 2017, in which the customer requested $200,000.00 in damages based upon allegations that Geake effected fixed indexed annuities, equipment leasing products, business development companies and real estate…
Brighton Securities Corp., a brokerage firm headquartered in Rochester, New York, was censured and fined $50,000.00 by Financial Industry Regulatory Authority (FINRA) based upon consenting to findings that the firm failed to supervise its stockbroker, who effected mutual fund trades that were not suitable for customers. Letter of Acceptance, Waiver and Consent, No. 2015046536701 (Dec….
Kenneth J. Christman, Jr., of Poughkeepsie, New York, a stockbroker currently associated with Stifel, Nicolaus & Company, Incorporated, is the subject of a customer initiated investment related arbitration claim, in which the customer requested $28,553.41 in damages founded on allegations that Christman failed to supervise a stockbroker’s corporate debt investments executed in the customer’s investment…
David Oscar Braeger, of New York, New York, a stockbroker registered with Newport Coast Securities, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon an Office of Hearing Officers Extended Hearing Panel Decision containing findings that he made misrepresentations to customers concerning the status and value…
Stephen Joe Williams of Madison, Alabama, a stockbroker currently registered with NEXT Financial Group, Inc., is the subject of a customer initiated investment related arbitration claim, in which the customer requested $50,000.00 in damages based upon allegations that Williams effected unsuitable real estate investment trust transactions in the customer’s account. Financial Industry Regulatory Authority (FINRA)…
John M. James of Golden Valley, Minnesota, a stockbroker associated with Merrill Lynch, Pierce, Fenner & Smith, Incorporated, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he failed to cooperate with FINRA in an investigation into allegations of his borrowing of customer…
John William Bernard of Shell Beach, California, a stockbroker registered with LPL Financial LLC, has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he placed trades in customer accounts without authorization. Letter of Acceptance, Waiver and Consent, No. 2015044696201 (Dec….
Ellen Vratoric of Glassport, Pennsylvania, a stockbroker associated with The Huntington Investment Company, has been charged by Financial Industry Regulatory Authority (FINRA) in a Complaint alleging that she failed to make an appearance for recorded testimony in regard to her sales of annuities. Department of Enforcement v. Ellen Vratoric, No. 2016049420501 (Dec. 22, 2017). According to…
Raymond Adam Menna, of PlanMember Securities Corporation, is the subject of a customer initiated investment related arbitration claim, where the customer sought $1,000,000.00 in damages supported by accusations that Menna made misrepresentations and omissions to the customer, effected transactions in the customer’s account that were not suitable, and traded equities without the customer’s consent. Financial…
Jonathan Scott Leopold, of New York, New York, a stockbroker currently registered with Morgan Stanley, is the subject of a customer initiated investment related arbitration claim, where the customer sought $250,000.00 in damages based upon accusations that unsuitable over-the-counter equities and direct investment products had been sold to the customer between 2009 and June of…
Joe E. Tinder, of Missoula, Montana, a stockbroker currently registered with Western International Securities, Inc., has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he failed to respond to FINRA’s investigation into accusations that he, inter alia, sold away from his firm….
WestPark Capital, Inc., located in Los Angeles, California, has been censured and fined $27,500.00 by Financial Industry Regulatory Authority (FINRA) by consenting to findings that the firm failed to create and sustain adequate supervision of collateralized mortgage obligations and failed to enforce existing supervisory practices. Letter of Acceptance, Waiver and Consent, No. 2016051690101 (Dec. 22,…
Michael Scott Lance, of San Rafael, California, a stockbroker registered with Wells Fargo Advisors, is the subject of a customer initiated investment related written complaint on October 26, 2016, in which the customer sought more than $5,000.00 in damages based upon accusations that the customer was never informed about tax consequences pertaining to individual retirement…
Denes Joseph Chapo III, of Cleveland, Ohio, a stockbroker associated with U.S. Bancorp Investments, is the subject of a customer initiated investment related written complaint on July 10, 2017, in which the customer requested $12,128.25 in damages based upon allegations that Chapo effected unauthorized over-the-counter equities purchases in the customer’s account. Financial Industry Regulatory Authority…
Craig Cary Langweiler, of Philadelphia, Pennsylvania, a stockbroker associated with Windsor Street Capital, L.P. (formerly Meyers Associates, L.P.), has been fined $15,000.00 and suspended for one year from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity according to an Office of Hearing Officers Default Decision pertaining to findings that Langweiler effected…
Gregory Russel Bauer of Moon Township, Pennsylvania, a former stockbroker of Waddell & Reed, Inc., is the subject of a customer initiated investment related arbitration claim, in which the customer sought $386,871.00 in damages based upon accusations that Bauer stole his parent’s funds through the submission of forged and fraudulent endorsements and withdrawal forms. Financial…
Liberty Financial Partners, a brokerage firm headquartered in Mount Pleasant, South Carolina, has been censured and fined $100,000.00 by Financial Industry Regulatory Authority (FINRA) based upon allegations that the firm, inter alia, failed to supervise transactions effected in customer accounts to determine whether customers incurred excessive costs and had been exposed to excessive trading. Letter…
Martin Allen Stevens Jr., of Denver, Colorado, a stockbroker registered with Stifel, Nicolaus & Company, Incorporated, has been subject of a customer initiated investment related arbitration claim, in which the customer requested $249,000.00 in damages based upon allegations of breach of contract, misrepresentation, suitability, negligence, breach of fiduciary duty, and fraud in regard to equity…
Charles Henry Frieda, of Irvine, California, a stockbroker formerly registered with Wells Fargo Clearing Services, LLC, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity by consenting to findings that he made unsuitable investment recommendations to the firm’s customers. Letter of Acceptance, Waiver and Consent, No. 2015045713302 (Dec….
Donald Anthony Devito II, of Albany, New York, a stockbroker formerly registered with Wells Fargo Advisors, has been subject of a customer initiated investment related written complaint, which settled for $50,000.00 in damages on November 14, 2017, based upon allegations of excessive fees having been assessed on the customer’s equity transactions between December 31, 2008…
JoeAnn M. Walker, of Brockton, Massachusetts, a stockbroker formerly registered with Next Financial Group, Inc., has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity by consenting to findings that she obstructed a FINRA investigation into allegations that she effected unsuitable annuity sales. Letter of Acceptance, Waiver and Consent,…
Jeffrey Allen Fanning, of West Palm Beach, Florida, a former chief executive officer of Liberty Partners Financial Services, LLC, has been charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement in a Complaint alleging that Fanning, inter alia, failed to supervise stockbrokers’ activities for excessive trading in customer accounts. Department of Enforcement v. Jeffrey…
Steven A. Bumbera, of Saint Louis, Missouri, a stockbroker formerly registered with Kovack Securities Inc., has been fined $4,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity by consenting to findings that he engaged in an unapproved outside business activity and failed to be forthcoming to the firm…
Wayne Ivan Miiler, of Scottsdale, Arizona, president of Accelerated Capital Group Inc., has been fined $10,000.00 and suspended for six months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he failed to supervise the firm’s chief compliance officer and supervisor for stockbrokers located in…
Teryl Lee Trenchard, of Reston, Virginia, a stockbroker formerly registered with Capitol Securities Management, Inc., is the subject of a customer initiated investment related arbitration claim, in which the customer requested $1,800,000.00 in damages based upon allegations that Trenchard misappropriated the customer’s assets, traded in the customer’s account without authorization, and placed exchange traded fund,…
Brian Michael Travers, of Melville, New York, a stockbroker formerly registered with MML Investors Services, LLC, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he failed to cooperate in an investigation into allegations that he engaged in unapproved private securities transactions…
Leslie Koonce, of Menlo Park, California, a stockbroker formerly registered with LPL Financial LLC, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he obstructed a FINRA investigation into allegations that he sold away from his firm and falsified information about his…
Gary Bruce Weiss, of Farmingdale, New York, a chief operating officer formerly registered with Salomon Whitney Financial, has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he failed to supervise a stockbroker that made unsuitable investment recommendations to a…
Walter Sanfrid Olsson, of Grand Rapids, Michigan, a stockbroker formerly registered with Raymond James Financial Services, Inc., has been fined and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he sold away from his firm. Letter of Acceptance, Waiver and Consent, No. 2016052628601…
Paul Wescoe Smith, of Wayne, Pennsylvania, a stockbroker formerly registered with Bolton Global Capital and investment advisor for The Haverford Group, has been charged by Securities and Exchange Commission (SEC) in a Complaint alleging that engaged in investment advisory fraud and executed a fraudulent securities offering spanning a quarter century. Securities and Exchange Commission v….
James C. Tao and Donna Chen, of Houston Texas, stockbrokers and investment advisors formerly associated with Sunbelt Securities, were charged by Securities and Exchange Commission (SEC) in a Complaint alleging that Tao engaged in fraudulent securities transactions, and Tao and Chen offered and sold securities as unregistered brokers by selling away. Securities and Exchange Commission…
Michael Timothy Dolan, of Minneapolis, Minnesota, a stockbroker formerly registered with Doughtery Dawkins LLC, has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity according to an Office of Hearing Officers’ Hearing Panel Decision containing findings that Dolan sold away from his firm. Letter of Acceptance,…
Tommy Huy Mai, of Westminster, California, a stockbroker formerly registered with Questar Capital Corporation, has been fined $10,000.00 and suspended for four months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he forged customer signatures on account documentation and communicated misleading information about securities…
Janet Lynn Ross, of Irvine, California, chief compliance officer of Accelerated Capital Group, Inc., has been fined $10,000.00 and suspended for two years from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Ross, inter alia, failed to supervise stockbrokers who made unsuitable, excessive and unauthorized…
Investors Capital Corporation, J.P. Turner & Company, L.L.C., VSR Financial Services, Inc., Investacorp., Inc., and BB&T Investment Services, Inc., have all been censured by FINRA for taking advantage of certain customers, namely retirement plans and charitable organizations, by overcharging them in mutual fund transactions. Evidently, the firms sold mutual funds containing multiple share classes, in…
Michael N. Guilfoyle, of New York, New York, a stockbroker registered with Legend Securities, Inc., has been fined $10,000.00 and suspended for ten months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he effected unsuitable transactions in the customer’s account. Letter of Acceptance, Waiver…
Brenton Bataille, of Centennial, Colorado, a stockbroker currently registered with Spencer Edwards, Inc., has been fined and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based on consenting to findings that he made unsuitable investment recommendations to customers concerning convertible notes. Letter of Acceptance, Waiver and Consent, No. 2014041862704…
Benjamin J. Herauf, of Dickinson, North Dakota, a stockbroker registered with Edward Jones, has been fined $5,000.00 and suspended for six months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he forged a customer’s account documentation. Letter of Acceptance, Waiver and Consent, No. 2016052114701…
Zachary S. Berkey and Daniel T. Fischer, of Melville, New York, stockbrokers registered with Four Points Capital Partners LLC, were subject of a Complaint brought by the Securities and Exchange Commission containing accusations that Berkey and Fischer made unsuitable investment recommendations to customers, misrepresentations, and churned customers’ accounts. Securities and Exchange Commission v. Zachary S….
John Fotis Valliades, of New York, New York, a stockbroker registered with Petersen Investments Inc., has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he placed trades in customers’ accounts without authorization. Letter of Acceptance, Waiver and Consent, No….
Steven Dale Heath of Newport News, Virginia, a stockbroker registered with Capitol Securities Management, Inc., has been subject of sanctions imposed by Financial Industry Regulatory Authority (FINRA) including the temporary revocation of his securities licensure for failing to pay a fine pertaining to a FINRA disciplinary action containing findings of his improper conduct (June 1,…
Eric Dean Rolschoven, of Missoula, Montana, a stockbroker registered with FSC Securities Corporation, was fined $15,000.00 by the Office of the Montana State Auditor, Commissioner of Securities and Insurance, according to a Consent Agreement and Final Order containing findings that Rolschoven failed to supervise a registered representative who engaged in sales practice violations. In the…
Greg Vincent Scheibel, of Waynesboro, Virginia, a stockbroker currently registered with H. Beck, Inc., is the subject of a customer initiated investment related written complaint on February 15, 2016, in which the customer sought $110,000.00 in damages founded on allegations that an inappropriate investment strategy was utilized for the customer, leading the customer to incur…
Michael John Kurka, of Alexandria, Virginia, a stockbroker registered with Morgan Stanley, is the subject of a customer initiated investment related written complaint on October 30, 2017, in which he alleged that between 2011 and 2014, Kurka effected transactions in the customer’s in-house money manager account that were not suitable for the customer. Financial Industry…
Jermaine Joseph, of Hialeah Gardens, Florida, a stockbroker registered with PFS Investments Inc., has been fined and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based on consenting to findings that he commingled a customer’s funds, served as personal representative to a customer in violation of the firm’s policies,…
Joseph Gunnar & Co. LLC, a FINRA brokerage firm headquartered in New York, New York, has been censured and fined $60,000.00 by Financial Industry Regulatory Authority (FINRA) founded on allegations that the firm failed to develop supervisory procedures to identify and stop unsuitable trades from being executed in customers’ investment accounts. Letter of Acceptance, Waiver…
LBMZ Securities, Inc., a brokerage firm headquartered in Chicago, Illinois, has been censured and fined $65,000.00 by Financial Industry Regulatory Authority (FINRA) by consenting to findings that the firm failed to adequately conduct due diligence relating to private placement offerings, failed to supervise its communications to customers, and disseminated faulty advertisements to customers. Letter of…
Capital City Securities, LLC, a brokerage firm headquartered in Columbus, Ohio, has been censured and fined $15,000.00 from by Financial Industry Regulatory Authority (FINRA) by way of the firm’s consent to findings that the firm failed to supervise sales of exchange traded funds. Letter of Acceptance, Waiver and Consent, No. 2014039216101 (Dec. 5, 2017). According…
Charles Matthew Anderson, of Doylestown, Pennsylvania, a stockbroker registered with Morgan Stanley, has been fined $5,000.00 and suspended for four months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity by consenting to findings that he traded unit investment trusts in customer accounts that were not suitable for customers. Letter of…
Nolan Dudley Baird, Jr., of Augusta, Georgia, a stockbroker registered with Stifel, Nicolaus & Company, Incorporated, has been fined $7,500.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he effected trades in customer accounts without authorization. Letter of Acceptance, Waiver and Consent,…
Jay Costa Kelter, of Johns Creek, Georgia, a former stockbroker with Berthel, Fisher & Company Financial Services, Inc., has been charged in a Complaint by the Securities and Exchange Commission (SEC) alleging that he committed material omissions and misrepresentations to customers, misappropriated customers’ funds, and committed securities fraud. Securities and Exchange Commission v. Jay Costa…
Karen McKinley, of Manchester, New Hampshire, a stockbroker formerly registered with Morgan Stanley, is the subject of a customer initiated investment written complaint, where the customer sought $16,951.58 in damages supported by allegations that she misappropriated the customer’s funds between 2014 and 2015. The customer’s complaint comes after Financial Industry Regulatory Authority (FINRA) barred her…
Heath Shayne Bowen of Idaho Falls, Idaho, president of Allegis Investment Services, LLC, has been charged by the Securities Commissioner for the State of Colorado in a Complaint alleging that investors have been defrauded by Bowen, and exposed to misrepresentations while their assets were under Bowen’s management, which led to customers incurring substantial investment losses….
Alonzo Barnett Jr, of Greensboro, North Carolina, a stockbroker formerly registered with Ameritas Investment Corp., has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity by failing to provide FINRA with information about his business activities when requested. Case No. 2017053125201 (June 12, 2017). FINRA Public Disclosure reveals that…
Shannon Christopher Taylor, of Durham, North Carolina, a stockbroker formerly registered with Fidelity Brokerage Services LLC, was fired on April 27, 2017, founded on allegations that trades failed to be executed by Taylor as required, and the firm’s departmental protocol was violated as a result of Taylor’s failure to accurately report his communications with customers…
Patrick Henry Maddren, of Boca Raton, Florida, a stockbroker formerly registered with Dawson James Securities, Inc., is the subject of a customer initiated investment related arbitration claim, which settled for $295,000.00 in damages founded on accusations of breach of contract, unsuitable investment recommendations, unauthorized trading, excessive commissions, excessive trading, omissions and misrepresentations, and failure to…
Nadav Nachum Baum, of Pittsburgh, PA, a stockbroker formerly registered with BPU Investment Management, Inc., is the subject of a Cease and Desist sanction and $6,000.00 fine imposed by the New Jersey Bureau of Securities by consenting to findings that he violated the terms of his heightened supervision arrangement. In the Matter of: Nadav Nachum…
Daniel Howard Glick, of Orland Park, Illinois, an advisor associated with Financial Management Strategies and former stockbroker of Transamerica Financial Advisors, Inc., has been charged by the Securities and Exchange Commission in a Complaint alleging that Glick committed securities fraud. Securities and Exchange Commission v. Daniel H. Glick, et al., Civil Action No. 17-CV-2251 (N.D….
Gene Charles Valentine, of Wellsburg, West Virginia, the chief executive officer of Financial West Group, has been fined $10,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity by consenting to findings that he associated with an individual who was disqualified in the securities industry. Letter of Acceptance, Waiver…
Dennis David Rasmusson, of Peoria, Arizona, a stockbroker currently registered with Berthel, Fisher & Company Financial Services, Inc., is the subject of a customer initiated investment related arbitration claim, which settled for $15,000.00 in damages based upon accusations that Rasmusson breached his contractual duties, made misrepresentations to the customer, negligently handled the customer’s investment account,…
Christopher Todd Wendel, of Celina, Ohio, a stockbroker registered with SA Stone Wealth Management Inc., has been fired on September 5, 2017, supported by accusations that he violated the policies of the firm through selling away; he effected promissory notes transactions outside the firm’s auspices. Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that Wendel…
Craig Edward Lewis, of Atlanta, Georgia, a stockbroker formerly registered with VALIC Financial Advisors, Inc., has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity by consenting to findings that he obstructed a FINRA investigation into allegations that he engaged in unapproved outside business activities and sold away from…
Angelo Talebi, of Beverly Hills, California, a stockbroker formerly registered with LPL Financial LLC, is the subject of a customer initiated investment related written complaint on September 21, 2017, in which the customer requested $39,298.00 in damages based upon allegations that Talebi made misrepresentations to the customer and effected a purchase of a real estate…
Anthony Sica, of New York, New York, a stockbroker currently registered with Joseph Gunnar & Co. LLC, has been fined $20,000.00 and suspended for three months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity by consenting to findings that he made unsuitable investment recommendations to the customer and placed unauthorized…
Aaron Christopher Mesaros, of Mukilteo, Washington, a stockbroker currently registered with Allstate Financial Services, LLC, is the subject of a customer initiated investment related written complaint on November 19, 2015, in which the customer requested $5,000.00 in estimated damages supported by allegations of the unauthorized rollover of the customer’s existing unit investment trust into a…
Joseph Abbate, of Garden City, New York, a stockbroker formerly registered with Wells Fargo Clearing Services, has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity by consenting to findings that he placed trades in customer investment accounts without their approval. Letter of Acceptance, Waiver and…
Paul Anthony Falcon, of Miami, Florida, a stockbroker currently registered with Aegis Capital Corp., is the subject of a customer initiated investment related arbitration, where the customer has sought $190,000.00 in damages supported by accusations that between August 1, 2013 and February 1, 2016, excessive and unauthorized trades were executed in the customer’s investment account…
Joseph Palermo of Staten Island, New York, a stockbroker with Chelsea Financial Services, has been fined $50,000.00 and suspended for twelve months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity by consenting to findings that he made omissions and misrepresentations concerning outside investment accounts, and engaged in unapproved business activities….
David Lee Reynolds, of Modesto, California, a stockbroker formerly employed with Allstate Financial Services, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity by consenting to findings that he failed to cooperate in an investigation into allegations that he misappropriated customer funds. Letter of Acceptance, Waiver and Consent,…
Robert Alfred Dennison, of West Palm Beach, Florida, is the subject of a customer initiated investment related arbitration claim, where the customer sought $115,000.00 in damages based upon allegations that Dennison made unsuitable investment recommendations to the customer concerning municipal debt products effected in the customer’s account between 2013 and 2015. Financial Industry Regulatory Authority…
On December 7, 2017, the United States Securities and Exchange Commission and the Department of Justice, through the United States Attorney for the Eastern District of Pennsylvania filed a civil action and a criminal indictment against Paul Wescoe Smith fomerly associated with Bolton Global Capital. On May 24, 2017, the Guiliano Law Group filed a…
Daniel Edward Pugel of Seattle, Washington, an advisor formerly registered with Financial Advocates Investment Management, was terminated on March 20, 2017, based upon allegations that he violated Financial Industry Regulatory Authority (FINRA) suitability standards in the course of effecting structured notes products for customers. FINRA Public Disclosure reveals that Pugel is the subject of three…
Brian F. Gimelson of Princeton, New Jersey, a stockbroker registered with North Nassau Advisors, LLC, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity by consenting to findings that he failed to cooperate in a FINRA investigation into allegations of his outside business activities. Letter of Acceptance, Waiver and…
Robert Francis Leis of Louisville, Kentucky, a stockbroker formerly registered with Raymond James Financial Services, Inc., has been fined $50,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he placed trades in customers’ investment accounts without their consent. Letter of Acceptance, Waiver and…
Christopher Lee Goslin, of Tampa, Florida, a stockbroker formerly registered with Harbor Lights Securities, LLC, has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity by consenting to findings that he engaged in unapproved outside business activities. Letter of Acceptance, Waiver and Consent, No. 2014040343701 (Sept….
Bryan Wayne Anderson, of Birmingham, Alabama, a stockbroker formerly registered with Pruco Securities, LLC, has been barred by Securities and Exchange Commission (SEC) from engaging in business as a broker or an investment advisor, or otherwise associating with brokerage firms or investment advisories according to an Order containing findings that Anderson committed securities fraud. In…
Bettye Clements Hays, of Mobile, Alabama, a stockbroker formerly registered with Principal Securities, Inc., has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that she failed to provide FINRA with information about her business activities. FINRA Case No. 2017053749201 (June 6, 2017). FINRA Public Disclosure…
Jackie Divono Wadsworth of Houston, Texas, the chief executive officer of IMS Securities, Inc., is the subject of a customer initiated investment related arbitration claim, in which the customer requested $954,700.00 in damages supported by allegations of negligent supervision, breach of fiduciary duty, and fraud in regard to real estate investment trusts effected in the…
Michael James Resciniti of Melville, New York, a stockbroker formerly registered with Laidlaw & Company (UK) Ltd., has been suspended for seven months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he executed trades in customer accounts without their permission. Letter of Acceptance, Waiver and…
Timothy James Miller of Neenah, Wisconsin, a stockbroker formerly registered with TradingBlock, is the subject of a customer initiated investment related written complaint on August 21, 2017, in which the customer sought $5,000.00 in damages supported by accusations that the customer was charged excessive fees on mutual funds investments. Financial Industry Regulatory Authority (FINRA) Public Disclosure…
Robert Hayes Hoffman of Greenwood, Indiana, a registered representative formerly employed with Woodbury Financial Services, Inc., has been fined and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he failed to comply with a FINRA investigation into allegations of his private securities transactions, excessive…
Mark Andrew Trewitt of Plano, Texas, a stockbroker formerly registered with VFG Securities, Inc., is the subject of a customer initiated investment related arbitration claim, in which the customer requested $84,000.00 in damages supported by allegations of misrepresentations and unsuitable investment recommendations having been made to the customer between December 5, 2012 and June 9,…
Leslie George Markus, Jr. of Center Valley, Pennsylvania, a stockbroker formerly registered with Ameriprise Financial Services, Inc., has been charged in a Complaint by Financial Industry Regulatory Authority (FINRA) Department of Enforcement alleging that Markus effected unauthorized trades in customer accounts, and falsified statements to FINRA personnel in regard to his trading activities. Department of…
In 2002, in the wake Worldcom and Enron the United States Congress among other things amended the United States Bankruptcy Code to provide that Bankruptcy Code does not discharge an individual debtor from any debt incurred in connection with the violation of any of the Federal securities laws (as that term is defined in section…
Questar Capital Corp., a brokerage firm headquartered in Minneapolis, Minnesota, has been censured by Financial Industry Regulatory Authority (FINRA) based upon the firm’s consent to findings that it disadvantaged charitable organization and retirement account customers by overcharging them on mutual fund transactions. Letter of Acceptance, Waiver and Consent, No. 2016049977801 (Nov. 2, 2017). According to…
Victor Michel of Reno, Nevada, a stockbroker formerly registered with Financial West Group, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity by consenting to findings that he failed to testify before FINRA staff in the course of an investigation into his sales practice violations. Letter of Acceptance,…
Susan Lavon Welo of Mayville, North Dakota, a stockbroker formerly registered with Cetera Advisor Networks LLC, is subject of a Cease and Desist Order issued by the North Dakota Securities Department based upon findings that Welo sold insurance and securities to the public while not registered with a broker-dealer; advised the public while not registered…
Peter Joseph Doyle of Washington, DC, a stockbroker formerly registered with Morgan Stanley, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity by consenting to findings that he failed to cooperate in a FINRA investigation into allegations of his improper conduct as referenced in his termination from Morgan…
William C. Gennity, of Staten Island, New York, and Rocco Roveccio, of Freehold, New Jersey, stockbrokers employed with Alexander Capital, have been charged by Securities and Exchange Commission (SEC) in a Complaint alleging that they made fraudulent investment recommendations to customers, misrepresentations, churned customer investment portfolios, and traded without authorization from 2012 to 2014. Securities…
William Wesley Marshall of Plano, Texas, a stockbroker currently registered with Ameriprise Financial Services, Inc., is the subject of a customer initiated investment related arbitration claim, in which the customer requested $200,000.00 in damages based upon allegations of omissions and misrepresentations and unsuitable investment recommendations relating to the sales of unregistered corporate debt securities. FINRA…
Joseph Harold Sterling of Phoenix, Arizona, a stockbroker registered with Geneos Wealth Management, Inc., is the subject of a customer initiated investment related arbitration claim, wherein the customer requested $290,000.00 in damages based upon allegations that Sterling made unsuitable investment recommendations to the customer concerning real estate securities. FINRA Arbitration No. 17-01906 (July 19, 2017)….
Marc Augusta Reda of New York, New York, a stockbroker formerly registered with PHX Financial, Inc., has been fined $5,000.00 and suspended for three months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Reda, inter alia, traded in customer accounts without authorization. Letter of…
William John Paynter Jr. of Scottsdale, Arizona, a stockbroker formerly registered with UBS Financial Services Inc., is the subject of a customer initiated investment related arbitration claim on June 28, 2017, in which the customer requested $500,000.00 in damages based upon allegations of breach of contract, breach of fiduciary duty, negligence, and suitability regarding oil…
Jonathan Todd Pyne of Minneapolis, Minnesota, a stockbroker currently registered with Berthel Fisher & Company Financial Services, Inc., is the subject of a customer initiated investment related written complaint on July 6, 2017, in which the customer requested more than $5,000.00 in damages based upon allegations that Pyne misled the customer by inducing the customer’s…
Ernest Julius Romer III, of Sterling Heights, Michigan, a stockbroker formerly registered with Corecap Investments, has now been charged by the United States Securities & Exchange Commission with the theft of approximately $2.7 million from his customers. In the Matter of ERNEST J. ROMER, III, ADMINISTRATIVE PROCEEDING File No. 3-19006 (Feb. 22, 2019) According to…
Michael B. Barnett of Marion, Illinois, a stockbroker currently registered with J.J.B. Hilliard, W.L. Lyons, LLC, is the subject of a customer initiated investment related civil action, in which the customer requested more than $5,000.00 in damages based on allegations that over-the-counter equities and stock transactions had been effected in the customer’s account which were neither…
Pranav V. Patel of Tamarac, Florida, has been barred from associating with an investment advisory or brokerage firm in any capacity, or otherwise working as a broker or investment advisor representative according to a Securities and Exchange Commission (SEC) Order containing findings that Patel committed securities fraud. In the Matter of Pranav V. Patel, Administrative…
Leon Paul Rehak, of Fort Lauderdale, Florida, a stockbroker formerly registered with Raymond James & Associates, Inc., is the subject of a customer initiated investment related arbitration claim on October 12, 2017, in which the customer requested $499,000.00 in damages founded on allegations that from May 3, 2011 to September 29, 2017, the customer’s account…
Danny S. Hood of Alpharetta, Georgia, a stockbroker formerly registered with LPL Financial LLC, has been barred from acting as an investment adviser or broker or associating with any investment advisories or brokerage firms in any capacity according to a Securities and Exchange Commission (SEC) Order containing findings that Hood effected unauthorized transactions in customer…
Terry Dean Bahgat (also known as Tarek Dean Bahgat), of Amherst, New York, the managing member of WealthCFO, WealthCFO Advisors, LLC, and WealthCFO Partners, LLC, and stockbroker formerly employed with Gradient Securities, LLC, is the subject of a Complaint brought by Securities and Exchange Commission alleging Bahgat misappropriated customer funds. Securities and Exchange Commission v….
Paul Anthony Steffany, of Westport, Connecticut, a stockbroker formerly registered with Raymond James & Associates, Inc., is the subject of an Order Issued by the Banking Commissioner of the State of Connecticut which permanently barred him from engaging in business as an investment advisor, broker-dealer, investment adviser agent, or broker-dealer agent. In the Matter of…
Lizabeth Gotuaco Ty of Houston, Texas, a stockbroker formerly registered with Park Avenue Securities LLC who is barred from the securities industry, is the subject of a customer initiated investment related arbitration claim, in which the customer requested $175,000.00 in damages based upon allegations that Ty effected unauthorized transactions by selling the customer a promissory…
Hornor, Townsend & Kent, Inc., a brokerage firm headquartered in Horsham, Pennsylvania, has been censured and fined $275,000.00 by Financial Industry Regulatory Authority (FINRA) based upon the firm’s consent to findings that it failed to supervise private securities transactions and variable annuity share class recommendations. Letter of Acceptance, Waiver and Consent, No. 2015043387001 (Nov. 14,…
Barry Franklin Connell, of Ridgewood, New Jersey, a former stockbroker registered with Morgan Stanley, has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon his failure to provide information to FINRA about his “business activities.” Case No. 2016052354501. Although FINRA does not disclose why Connell was…
Edward Louis Barger, of Miami, Florida, a stockbroker formerly registered with Morgan Stanley, is the subject of a customer initiated investment related arbitration claim, in which the customer requested $400,000.00 in damages based upon allegations that unsuitable closed-end fund, stock and over-the-counter equity transactions were effected in the customer’s account between January of 2010 and…
Hank Mark Werner, of New York, a stockbroker formerly registered with Legend Securities, Inc., has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity according to an Office of Hearing Officers Extended Hearing Panel Decision containing findings that Werner made unsuitable investment recommendations to a customer and engaged…
Richard Eastburn, of Cleveland, Ohio, a stockbroker formerly registered with UBS Financial Services Inc., has been fined $10,000.00 and suspended for six months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity by consenting to findings that he made misrepresentations to customers about custody agreements. Letter of Acceptance, Waiver and Consent,…
Charles Terrence Lundell of Bellevue, Washington, a stockbroker formerly registered with First Allied Securities, Inc., has been fined $5,000.00 and suspended for a month from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity by consenting to findings that he effected unauthorized trades in customers’ investment accounts. Letter of Acceptance, Waiver and…
Patrick Francis Walsh, of Westlake Village, California, a stockbroker currently registered with Morgan Stanley, is the subject of a customer initiated investment related arbitration claim, which settled for $156,000.00 in damages based upon allegations that between January of 2009 and November of 2015, Walsh effected trades in the customer’s account on an excessive basis relating…
John James McLaughlin IV, of Ponte Vedra Beach, Florida, a stockbroker formerly registered with Morgan Keegan & Company, Inc., is subject of a customer initiated investment related arbitration claim that settled for $6,500.00 in damages, which was founded on allegations including suitability, omissions and misrepresentation, breach of fiduciary duty, breach of contract and negligence in…
Luis Alberto Mendoza, of Washington, District of Columbia, a stockbroker formerly registered with HSBC Securities (USA) Inc., is the subject of a customer initiated investment related written complaint on July 20, 2015, where the customer sought $47,000.00 in damages supported by allegations that two variable universal life insurance policies were sold to the customers despite…
Gregory Ray Powell of Birmingham, Alabama, a stockbroker formerly registered with LPL Financial LLC, is the subject of a customer initiated investment related arbitration claim, where customers have alleged that between 2006 to 2015, their investment accounts were improperly managed, misrepresentations were made relating to investments, fees were excessively charged, and their investment portfolios were churned….
Robert Scott Wilder of Atlanta, Georgia, a stockbroker formerly registered with Sterne Agee Financial Services, Inc., has been fined $5,000.00 and suspended for three months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he sold away from his firm. Letter of Acceptance, Waiver and Consent,…
Larry Lee Aschebrook, of Chicago, Illinois, a former officer of Gentry Securities, LLC, is the subject of a customer initiated investment related civil action that settled for $140,000.00 in damages based upon allegations that misrepresentations were made to the customer regarding private placements. Civil Action No. 2015-CH-18129 (Oct. 25, 2016). The customer also alleged that…
Ricardo Rodriguez-Stern, of New York, New York, a stockbroker formerly registered with JP Morgan Securities LLC, has been charged by Financial Industry Regulatory Authority (FINRA) in a Complaint alleging that he failed to cooperate with FINRA’s investigation into customer disputes that JP Morgan customers filed against him. Department of Enforcement v. Ricardo Rodriguez-Stern, Disciplinary Proceeding…
Thomas Joseph Buck, of Indianapolis, Indiana, a former Merrill Lynch, Pierce, Fenner & Smith Incorporated stockbroker who has been barred by Financial Industry Regulatory Authority (FINRA) in all capacities, is the subject of five customer initiated investment related written complaints that have been settled on November 23, 2016, for a total of $465,000.00 in damages,…
Leslie George Markus Jr., of Center Valley, Pennsylvania, a stockbroker currently registered with Lincoln Investment, is the subject of a Financial Industry Regulatory Authority (FINRA) Investigation, which has been initiated on November 16, 2016, concerning Markus’ possible unauthorized trading in violation of FINRA Rule 2010; inaccurate entries in the firm’s records and books in violation…
Gary Allen Graham, of Huntington Beach, California, a stockbroker currently registered with Calton & Associates, Inc., is the subject of a California Department of Insurance Order suspending Graham’s insurance licenses based upon findings that he failed to inform California about a fine and suspension imposed by Financial Industry Regulatory Authority (FINRA) for Graham’s improper conduct….
Barbara Ann Endres, of Grand Junction, Colorado, a stockbroker formerly registered with Wells Fargo Advisors, LLC and investment advisor representative with Lifetime Wealth Advisors, LLC, is the subject of an Order issued by Commonwealth of Massachusetts Securities Division suspending Endres’ investment advisor representative registration in the Commonwealth of Massachusetts based upon allegations of her improper…
Steven Pagartanis, of Setauket, New York, a stockbroker formerly registered with Cadaret, Grant & Co., Inc., has been terminated by the firm on March 20, 2017, based on allegations that the firm received a customer initiated investment related arbitration claim pertaining to Pagartanis’ conduct that contained accusations of conversion of the customer’s funds, securities fraud…
Dale Franklin Norton Jr., of Newhall, California, a former registered representative with Independent Financial Group, LLC, is the subject of a California Department of Insurance Order issued on July 27, 2017, revoking Norton’s insurance licensure according to Sections 1669(a)(I) and 1738 of the California Insurance Code, based upon Norton having pled nolo contendere to a…
James Edmond Moniz of Brainless, Massachusetts, a stockbroker formerly registered with Signator Investors, Inc., has become the subject of heightened supervision requirements imposed by the Secretary of State of the Commonwealth of Massachusetts, Securities Division, according to a Consent Order containing findings that Moniz accumulated nine customer complaints, FINRA rule infractions and a civil judicial…
Dennis McNamara Jr. of Bogota, New Jersey, a stockbroker formerly registered with Wells Fargo Clearing Services, LLC, was fired on August 24, 2017, based upon McNamara’s failure to make regulatory disclosures to Financial Industry Regulatory Authority (FINRA) about judgments and liens placed against him. FINRA fined McNamara $5,000.00 and suspended him in all capacities as…
Christopher Todd Wendel of Celina, Ohio, a stockbroker formerly employed with SA Stone Wealth Management Inc., has been fired from the company on September 5, 2017, based upon allegations that Wendel sold away from the firm. Wendel’s termination comes after the firm launched an investigation into his alleged private securities transactions on April 21, 2017….
Brandon Preston Long of Alpharetta, Georgia, a stockbroker formerly registered with LPL Financial LLC, has been barred by Securities and Exchange Commission (SEC) from associating with any broker or investment adviser according to an SEC Order containing findings that Long misled investors in the course of selling annuity products. In the Matter of Brandon P. Long,…
Joseph John Squillacioti, of Irvine, California, a stockbroker formerly registered with Ameriprise Financial, was fired on May 15, 2017, based upon having consistently violated the firm’s policies with respect to the solicitation of investments from customers. Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that Squillacioti has been identified in five customer initiated investment related…
Kenneth Bostian Neuner, of Dallas, Texas, a stockbroker formerly registered with Summit Brokerage Services, Inc., has been permanently barred in all capacities from associating with any Financial Industry Regulatory Authority (FINRA) member by consenting to findings that he failed to cooperate in a FINRA investigation into his unauthorized trading in Summit customers’ investment accounts. Letter…
David Apted of Clayton, Missouri, a stockbroker formerly registered with Smith, Moore & Co., has been fined $10,000.00 and suspended for four months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that Apted, inter alia, sold away from his firm relating to customers’ investments in a venture-capital…
Deborah Elizabeth Greenlee-Keck, of Mishawaka, Indiana, a stockbroker formerly registered with J.P. Morgan Securities LLC, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based on allegations that Greenlee-Keck obstructed a FINRA investigation into allegations of her improper conduct concerning a financial transaction with a customer of the…
Landon Lavon Williams, of Jacksonville, Florida, a stockbroker formerly registered with Merrill Lynch, Pierce, Fenner & Smith Incorporated, has been fined $10,000.00 and suspended for two years from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity according to a FINRA Office of Hearing Officers Order Accepting Offer of Settlement containing findings…
John Robert Openshaw, of Irvine, California, a stockbroker formerly registered with Newport Coast Securities, Inc., has been named in a customer initiated investment related written complaint on February 8, 2017, in which the customer requested $70,000.00 in damages based upon allegations that from 2014 to 2017, Openshaw churned the customer’s investment portfolio and effected mutual…
Andrew Martz, of Hollywood, California, a stockbroker formerly registered with J.P. Morgan Securities LLC, has been named in a customer initiated investment related arbitration claim, wherein the customer requested $200,000.00 in damages based upon allegations that between January 17, 2014, and March 2, 2017, Martz sold the customer an investment that was not authorized to…
David Albert Ross, of Murfreesboro, Tennessee, a stockbroker formerly registered with Woodbury Financial Services, Inc., has been suspended for ten months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity by consenting to findings that he entered into unauthorized loan arrangements with customers of the firm, and engaged in outside business…
Thomas Joseph Breslin Jr., of San Diego, California, a stockbroker formerly associated with LPL Financial LLC, has been fined $5,000.00 and suspended for five months from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity based upon allegations that he sold away from LPL Financial. Letter of Acceptance, Waiver and Consent,…
Jasper E. Boykin, Jr., of Atlanta, Georgia, a registered representative formerly registered with MetLife Securities Inc., has been charged by FINRA Department of Enforcement in a Complaint alleging that he obstructed a FINRA investigation into allegations of his unapproved outside business activities. Department of Enforcement v. Jasper E. Boykin, Jr., No. 2016049508602 (Oct. 16, 2017)….
Sam Peter Paolini, of New York, New York, a stockbroker formerly registered with Hornor, Townsend, & Kent, Inc., has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that he converted a prospective customer’s funds. Letter of Acceptance, Waiver and Consent, No. 2017055696501 (Oct. 13,…
Terrence Jeffrey Diehl, of Boston, Massachusetts, a stockbroker formerly registered with LPL Financial, LLC, has been fined $10,000.00 and handed a nine-month suspension from associating with any FINRA member in any capacity by consenting to findings that he sold away from his firm and lied about it when LPL Financial, LLC questioned him. Letter of…
Steven John Meyer, of Staten Island, New York, a stockbroker formerly registered with Legend Securities, has been barred from associating with any FINRA member in all capacities based upon consenting to findings that he excessively traded and churned the firm’s customer accounts, and placed trades without authorization. Letter of Acceptance, Waiver and Consent, No. 2017052709201…
Joseph Leigh Cotter, of Charlotte, North Carolina, a stockbroker with Next Financial Group, Inc., has been fined $15,000.00, disgorged of $100,549.42 in commissions, and suspended for nine months from having any association with a FINRA member by consenting to findings that he effected transactions in an investor’s accounts on an unsuitable and excessive basis. Letter…
Jack B. McBride, of Farmington Hills, Michigan, a stockbroker formerly registered with Ameriprise Financial Services, Inc., was fined $12,500.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity by consenting to findings that he mismarked order tickets, engaged in misleading communications with a customer, and settled a customer dispute…
Marlin O. Cole, of New York, New York, a stockbroker registered with Legend Securities, Inc., has been fined $5,000.00 and suspended for sixteen months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity by consenting to findings that he effected trades on an excessive and unsuitable basis in customer accounts. Letter…
Robert Baldwin Del Guercio, a stockbroker formerly registered with Herbert J. Sims & Co. Inc., has been barred from associating with any FINRA member in any and all capacities based upon allegations that he failed to cooperate in a FINRA investigation into allegations of his improper conduct. Letter of Acceptance, Waiver and Consent, No. 2016051166301…
Noble Financial Capital Markets, located in Boca Raton, Florida, and firm’s president, Nicolaas Petrus Pronk, have been censured and fined by Financial Industry Regulatory Authority (FINRA) according to an Office of Hearing Officers Order Accepting Offer of Settlement containing findings that Noble Financial Captial Markets and Pronk made omissions regarding securities recommended to customers. Department…
Kyusun Kim, of San Diego, California, a stockbroker registered with Independent Financial Group, LLC, has been named in a customer initiated investment related arbitration claim, in which the customer alleged that Kim committed elder financial abuse, breached his contractual obligations, breached his fiduciary duties, and violated federal and state securities laws relating to structured products,…
Jerry Dewayne Mccutchen Sr., of Mobile, Alabama, a stockbroker formerly registered with Berthel, Fisher & Company Financial Services, Inc., is the subject of a customer initiated investment related arbitration claim, in which several customers jointly alleged that Mccutchen made misrepresentations to the customers about real estate securities, oil and gas products, and equipment leading investments,…
Craig Gary Langweiler, of Philadelphia, Pennsylvania, a stockbroker formerly registered with Windsor Street Capital, L.P. (formerly known as Meyers Associates, L.P.), was charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement in a Complaint alleging that Langweiler effected excessive and unsuitable trades in a customer’s account, and exercised discretion without authorization. Department of Enforcement…
Christopher Thomas Tolmacs of Portage, Michigan, a stockbroker formerly registered with Triad Advisors, Inc., is the subject of a customer initiated investment related arbitration claim, which settled for $51,000.00 in damages based upon allegations that Tolmacs made unsuitable investment recommendations to the customer concerning business development corporations, exchange traded funds and fixed annuities. FINRA Arbitration Case…
Jason Scott Tinklenberg, of Sioux Falls, South Dakota, a registered representative currently associated with Purshe Kaplan Sterling Investments, is the subject of a customer initiated investment related arbitration claim, in which the customer requested $256,527.00 in damages founded on allegations that fixed annuities and whole life insurance contracts were inappropriately sold to the customer. Case…
David William Locy, of Lakeland, Florida, a stockbroker formerly registered with Brookstone Securities, Inc., was suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he did not provide FINRA with information concerning his compliance with obligations to pay compensatory damages to a customer pursuant…
Cheryle Anne Brady, of Hingham, Massachusetts, a stockbroker formerly registered with Ameriprise Financial Services, Inc., has been fined $7,500.00 and suspended for six months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity by consenting to findings that she effected securities trades in Ameriprise customer investment accounts without authorization from customers….
Clement Lancelot Chichester, of Westlake Village, a stockbroker formerly registered with Western International Securities, Inc., has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he failed to cooperate in a FINRA investigation into accusations of his improper handling of a customer’s money….
Lawrence Michael Korseko, of Littleton, Colorado, a stockbroker formerly registered with The Leaders Group, Inc., has been fined $10,000.00 and suspended for six months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon Koresko’s consent to FINRA’s findings that he failed to disclose customer complaints against him for committing…
Erick J. Arnett, of Spring Hill, Florida, a stockbroker formerly registered with Dalton Strategic Investment Services Inc., has been fined $7,500.00 and suspended for four months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he engaged in unapproved outside business activities. Department of Enforcement…
Growth Capital Services, Inc., a brokerage firm headquartered in San Francisco, California, has been censured and fined $35,000.00 by Financial Industry Regulatory Authority (FINRA) based upon consenting to findings that, inter alia, Growth Capital Services failed to supervise private securities transactions effected by five of the firm’s stockbrokers. Letter of Acceptance, Waiver and Consent, No….
Success Trade Securities, Inc., a broker-dealer headquartered in District of Columbia, as well as its president and chief compliance officer, Fuad Ahmed, were subject of a Securities and Exchange Commission (SEC) Opinion holding that the firm and Ahmed committed fraud and effected unregistered securities offers and sales. In the Matter of the Application of Fuad…
Sandlapper Securities, LLC, a broker-dealer located in Greenville, South Carolina, as well as its majority owner and founder, Trevor Lee Gordon, and vice president, Jack Charles Bixler, have been charged by Financial Industry Regulatory Authority (FINRA) in a Complaint alleging that they defrauded the firm’s customers through its sales of saltwater disposal wells investments. Department…
Ryan Nicholas Paugh, of Independence, Ohio, a stockbroker registered with J.P. Morgan Securities LLC, has been fined $10,000.00 and suspended for four months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based on allegations against Paugh of selling away from J.P. Morgan. Letter of Acceptance, Waiver and Consent, No. 2015046604801…
By: Dana N. Pescosolido We’ve all heard the warnings, for many years now. The population is aging, the baby-boomers are starting to retire, and as they age, the opportunities for exploitation by unscrupulous brokers will increase exponentially. Some sources say that upwards of $7 trillion in retirement assets will be in play. States like Florida…
Barbara Jean Waters, of New York, New York, a stockbroker formerly registered with Morgan Stanley, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by consenting to findings that she failed to testify in a FINRA investigation concerning allegations that she provided false accounting documents to her…
Louis Frederick Scherschel, of Sleepy Hollow, Illinois, a stockbroker formerly registered with Sigma Financial Corporation, was fired on September 11, 2015, supported by allegations that he failed to abide by the policies of Sigma Financial Corporation regarding correspondence. Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that Scherschel has been subject of a customer initiated…
PTI Securities & Futures L.P., of Chicago, Illinois, was subject of sanctions sought by the State of Illinois Secretary of State Securities Division, alleging that the firm’s chief compliance officer, Daniel John Haugh, effected an unauthorized transfer of a customer’s funds, causing the customer to sustain $90,000.00 in losses. Case No. 1500161 (Jan. 29, 2016)….
Edward Alan Horwitz of Riverwoods, Illinois, a stockbroker and principal formerly registered with Insight Securities, Inc., is the subject of a customer initiated investment related arbitration claim, which settled for $150,000.00 on August 12, 2016, supported by allegations including breach of contract, unjust enrichment, misrepresentation, negligence and breach of fiduciary duty pertaining to stock and options…
David Gene Menashe of Mineola, New York, a stockbroker formerly registered with Joseph Stone Capital, L.L.C., is the subject of an Order issued by the State of Montana Commissioner of Securities & Insurance obligating $15,000.00 in restitution to a customer based on allegations that Menashe effected unauthorized trades in the customer’s account, and effected trades on…
Gregory Perrone, of Hernando, Florida, a stockbroker currently registered with Raymond James Financial Services, Inc., is the subject of a customer initiated investment related written complaint on May 8, 2017, in which the customer sought $42,179.00 in damages supported by allegations that Perrone caused the customer to furnish account transfer forms that he knew contained…
Patrick Claude Robert Guinet, of Irvine, California, a stockbroker formerly registered with Wells Fargo Clearing Services, is the subject of a customer initiated investment related arbitration claim, which settled on June 5, 2017, for $4,954.14 in damages supported by allegations that the customer’s wrap account fund reallocation instructions were not executed between January 1, 2017,…
J.J.B. Hillard, W.L. Lyons, LLC, an investment adviser firm and FINRA member brokerage firm, is subject of a customer initiated investment related arbitration claim, in which customers were awarded $450,000.00 in compensatory damages and $100,000.00 in punitive damages pertaining to allegations of negligent supervision, fraud, breach of contract, omissions and misrepresentations, breach of fiduciary duty,…
H. Beck, Inc., a brokerage firm headquartered in Bethesda, Maryland, has been censured and fined $50,000.00 by Financial Industry Regulatory Authority (FINRA) based on accusations that it failed to supervise non-traditional exchange traded fund recommendations made by stockbroker James Dresselaers, wherein Dresselaer’s recommendations were not suitable for a customer and caused the customer to incur…
Yilih Choong, of Newark, New Jersey, a stockbroker formerly registered with Pruco Securities, LLC, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he failed to cooperate with FINRA in an investigation into accusations that he communicated false information to his employer…
James A. Franklin, of Dallas, Texas, a stockbroker formerly registered with Investors Capital Corp., is the subject of a customer initiated investment related complaint on March 15, 2017, in which the customer requested $50,000.00 in damages founded upon accusations that in March of 2015, Franklin placed real estate security transactions in the customer’s account that…
Gary Mack Bradshaw, a stockbroker currently registered with First Dallas Securities Incorporated, is the subject of a customer initiated investment related arbitration claim, which settled on January 10, 2017 for $11,500.00 in damages founded upon accusations that Bradshaw placed unsuitable over-the-counter equities trades in the customer’s account. Arbitration Case No. 16-03036 (Jan. 10, 2017). Financial…
Ameriprise Financial Services, Inc., a Financial Industry Regulatory Authority (FINRA) member brokerage firm located in Minneapolis, Minnesota, was orderd by a FINRA Arbitration Panel to pay $418,000.00 in damages in connection with a customer initiated investment related arbitration claim founded upon accusations including breach of contract, omissions of facts and breach of fiduciary duty relating…
Sharon Melinda Kwan, of Arcadia, California, a stockbroker formerly registered with National Planning Corporation, has been fined $15,000.00 and suspended for four months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that she engaged in outside business activities and established unapproved customer bank accounts. Letter…
Corinne Renae Mittag, of Omaha, Nebraska, a stockbroker formerly registered with Bancwest Investment Services, Inc., has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that she effected unauthorized trades, falsely represented her trading activities to her firm, and led her firm’s records and…
Thomas Lawrence, of Chapel Hill, Tennessee, a stockbroker formerly registered with Ameritas Investment Corp., has been fined $5,000.00, required to provide $41,332.65 in restitution, and was suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity according to an Offer Accepting Offer of Settlement containing findings that Lawrence entered into an…
Ziv Investment Company, a broker-dealer headquartered in Chicago, Illinois, and Peter Gordon Ziv, president, chief compliance officer and principal of Ziv Investment Company, were fined $75,000.00 and $10,000.00, respectively, for failing to supervise, inter alia, transactions and discretionary trading by stockbrokers at Ziv Investment Company’s branch office. Letter of Acceptance, Waiver and Consent, No. 2014039231701…
Kelly Gene Richards, of Phoenix, Arizona, a stockbroker formerly registered with Capital Investment Group, Inc., has been named in a customer initiated investment related arbitration claim on June 27, 2016, in which customers collectively requested $650,000.00 in damages based upon allegations that Richards breached his fiduciary duties to the customers, negligently managed the customers’ investment…
Todd Jones of Seattle, Washington, a stockbroker formerly registered with J.P. Morgan Securities, LLC, has been fined $15,000.00 and suspended for four months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he exercised discretion in customer accounts without their consent and falsified information regarding…
Christopher David Sinkula, of Stuart, Florida, a stockbroker currently registered with Janney Montgomery Scott LLC, has been named in a customer initiated investment related arbitration claim on July 11, 2017, in which the customer requested $100,000.00 in damages based upon allegations that Sinkula over-concentrated the customer’s funds in energy sector stocks, and effected unsuitable equity…
Dale Edward Wright, of Henrico, Virginia, a stockbroker currently registered with Cambridge Investment Research, Inc., has been named in a customer initiated investment related arbitration claim on March 15, 2017, in which the customer requested $130,000.00 in damages based upon allegations that Wright breached his contractual duties to the customer, negligently handled the customer’s insurance…
Michael Ciro Colletti, of Melville, New York, a stockbroker formerly registered with National Securities Corporation, was named in a Financial Industry Regulatory Authority (FINRA) Complaint containing allegations that he did not supervise the firm’s cold caller representatives, who utilized scripts for speaking with customers that contained inappropriate and possible investment misrepresentations. Department of Enforcement v….
Rocco James Lavista, of Holmdel, New Jersey, a stockbroker formerly registered with Aegis Capital Corp., is the subject of a customer initiated investment related complaint on February 4, 2016, in which the customer sought $204,136.14 in damages based upon allegations that Lavista made misrepresentations to the customer, breached his fiduciary duties, and negligently handled the…
Brian Alan Hagen of The Woodlands, Texas, a stockbroker formerly registered with ProEquities, Inc., was terminated on August 12, 2016, based upon allegations that he affixed customer signatures to customer account documentation without procuring their consent. Since August 15, 2016, Hagen has been associated with D.H. Hill Securities, LLLP. Guiliano Law Group Our practice is…
Charles Robert Eloff Jr., of Arlington, Texas, a stockbroker formerly registered with H. Beck, Inc., is the subject of a customer initiated investment related complaint on October 25, 2016, wherein the customer’s claim is based upon accusations that Eloff effected unsuitable direct investment program transactions in the customer’s account. Further, FINRA Public Disclosure reveals that…
Edward Gino Rizzotto, of Ocala, Florida, a registered representative employed with Foresters Equity Services, Inc., is the subject of a customer initiated investment related complaint, which settled on July 13, 2015, for $26,377.00 in damages supported by accusations that Rizzotto effected mutual fund transactions in the customer’s account that were not suitable for the customer….
Bernard Andre Breton, of Denver, Colorado, a stockbroker formerly registered with Cetera Advisors LLC, is the subject of a customer initiated investment related arbitration claim filed on January 19, 2016, for $876,195.00 in damages based on allegations that Breton failed to supervise the equity trades effected another Cetera stockbroker Abraham Heimann. Breton was terminated by…
Gary Kenneth Rasmussen, of Laguna Niguel, California, a stockbroker formerly registered with J.W. Cole Financial, Inc., is the subject of a customer initiated investment related arbitration claim, which settled on July 11, 2017, for $30,000.00 in damages founded on allegations of suitability pertaining to the customer’s equity portfolio. Financial Industry Regulatory Authority (FINRA) Public Disclosure…
Jonathan Ben Mirer, of Henderson, Nevada, a stockbroker currently registered with Ameriprise Financial Services, Inc., is the subject of a customer initiated investment related complaint, which settled on February 7, 2017, for $20,000.00 in damages supported by allegations of unauthorized trading of foreign equities from 2009 to 2016. Financial Industry Regulatory Authority (FINRA) Public Disclosure…
Lee Evan Rosenberg, of Jericho, New York, a stockbroker currently registered with Cadaret, Grant & Co., Inc., is the subject of an investment related arbitration claim filed by the customer on February 2, 2017, where the customer sought $250,000.00 in damages founded upon allegations of suitability in reference to the customer’s mutual fund and annuities…
Andrew Bruce Elsoffer, of Pepper Pike, Ohio, a stockbroker currently registered with Stifel, Nicolaus & Company, Inc., is the subject of a customer initiated investment related arbitration claim, which settled on October 27, 2016, for $165,000.00 in damages supported by allegations of negligence, breach of contract, elder abuse, elder exploitation, breach of fiduciary duty, suitability,…
Richard Thomas Lucker, of Tuscon, Arizona, a stockbroker formerly registered with Morgan Stanley, has been identified in a customer initiated investment related arbitration claim on March 17, 2017, where the customer requested $14,447,501.00 in damages based on allegations that Lucker failed to supervise the customer’s investment account. Since March 3, 2014, he has been employed…
Joeann Mitchell Walker, of Brockton, Massachusetts, a stockbroker formerly registered with LPL Financial LLC, is the subject of a customer initiated investment related complaint, which settled on November 15, 2016, for $175,000.00 in damages based upon allegations of unsuitability regarding variable annuities, and unauthorized trading concerning the purchases and sales of mutual funds and stocks…
Margaret Lech-Loubet, of Los Angeles, California, a stockbroker currently registered with UBS Financial Services Inc., is the subject of a customer initiated investment related complaint on May 22, 2017, in which the customer sought $145,000.00 in damages based on allegations of suitability and omissions of facts concerning risks and liquidity of the customer’s structured product…
Scott Newsholme, of Farmingdale, New Jersey, a stockbroker formerly registered with SII Investments, Inc. who also worked as a tax preparer and investment adviser for MVP Financial LLC, was charged by the Securities and Exchange Commission (SEC) in a Complaint alleging that Newsholme, inter alia, misappropriated funds from investment advisory customers and made misrepresentations to…
Lorenzo C. Esteva of Miami , Florida, a stockbroker formerly registered with UBS Financial Services, Inc., has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he failed to provide FINRA with information and documentation in the course of FINRA’s investigation into allegations of…
Anthony Vultaggio Jr., of East Meadow, New York, a stockbroker formerly registered with American Capital Partners, LLC, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he did not cooperate in an investigation into allegations that he engaged in outside business activities…
Last September we wrote an article entitled: “Securities Regulators Caution Suckers to Avoid Fake Lawyers.” As we stated, on September 19, 2016, FINRA issued an Investor Alert, entitled “It can be hard to recover from Recovery Scams.” According to the Investor Alert: You hear from someone who claims to be able to help you recover…
Ernest J. Romer of Sterling Heights, Michigan, whom until very recently was associated with CoreCap Investments, located in South Field Michigan, was charged with embezzlement. According to the Complaint, Michigan Investigators believe Romer’s transactions were part of a larger “pattern of felonious financial maneuvers involving a field of investors, with as many as 20 additional…
Heath Marell, Susan Marell and James Marell filed a claim in March 2016 against Mark Allan Plummer and Texas E & P Partners, Inc., alleging breach of contract, failure to supervise, negligence, intentional fraud and misrepresentation, among other claims. The claims related to Chestnut GEB Joint Ventures and Chestnut 2007 4×4 Joint Venture. The Washington…
FSC Securities Corp., headquartered in Atlanta, GA, has agreed to a letter of acceptance, waiver and consent (“AWC”) with FINRA dated August 10,2017. The agreement in Enforce,ment Action AWC 2010024620303 involves the sale to customers of non-traditional Exchange Traded Funds (“ETFs”). FSC operates a general securities business utilizing an independent contractor model. It has approximately…
Jeffrey Alan Smith, of Irvine, California, a stockbroker formerly registered with Accelerated Capital Group, has been fined $5,000.00 and suspended for three months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he utilized altered and pre-signed customer documents to effect investment transactions in customer…
Robert Juan Escobio, of Miami, Florida, a stockbroker formerly registered with Southern Trust Securities, Inc., has been subject of a Financial Industry Regulatory Authority (FINRA) National Adjudicatory Council Notice denying an application furnished by Southern Trust Securities, Inc. for Escobio to be associated with the firm based upon accusations that Escobio engaged in fraudulent sales…
John Hoyt Williams Jr., of Ridgeland, Mississippi, a stockbroker formerly registered with LPL Financial LLC, has been fined $10,000.00 and suspended for three months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he sold away from his firm. Letter of Acceptance, Waiver and Consent,…
Peyton Nelson Jackson, of New York, New York, a stockbroker formerly registered with Alexander Capital, L.P., has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity according to a Hearing Officer’s Default Decision containing findings that Jackson made unsuitable investment recommendations and defrauded customers. Department of Enforcement v. Peyton…
Jaime R. Rodriguez, of Bronx, New York, a stockbroker formerly registered with HSBC Securities (USA) Inc., has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he stole $200,000.00 from a blind and elderly investor. Letter of Acceptance, Waiver and Consent, No. 2016051772601…
John C. Edes, of East Greenwich, Rhode Island, a registered representative formerly registered with Equity Services, Inc., has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he failed to cooperate in a FINRA investigation into his business activities serving the basis of…
Glenn Robert King, of Shrewsbury, New Jersey, a stockbroker formerly registered with Buckman, Buckman & Reid, Inc., has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity according to a National Adjudicatory Council Decision containing findings that King made unauthorized and excessive trades in a customer’s account. In the…
CFD Investments, Inc., a broker-dealer headquartered in Kokomo, Indiana, has been censured and fined $30,000.00 by Financial Industry Regulatory Authority (FINRA) based upon consenting to findings that the firm failed to supervise non-traditional exchange traded fund transactions effected by the firm’s registered representatives in customer accounts. Letter of Acceptance, Waiver and Consent, No. 2014039216501 (Sept….
Jordan Stuart Berlin, of Bedford Corners, New York, a stockbroker formerly registered with FSC Securities Corporation, is the subject of a customer initiated investment related written complaint on August 16, 2016, in which the customer requested $5,000.00 in damages based upon allegations that Berlin made unsuitable investment recommendations to the customer concerning equity investments, and…
The Grosse Pointe Farms Michigan office of IMS Securities, is the subject of a customer initiated investment related arbitration claim on August 21, 2017, in which the customer requested $25,000.00 in damages based upon allegations of breach of fiduciary duty, misrepresentation, negligence, and failure to conduct adequate due diligence with respect to real estate investment…
Christopher Charles Burtraw, of Lakewood, Colorado, a former stockbroker for JP Turner., is the subject of a customer initiated investment related arbitration claim on July 10, 2017, in which the customer sought $1,000,000.00 in damages based upon allegations that Burtraw effected unsuitable transactions in the customer’s account concerning business development companies and real estate investment…
William Bryson Baum, of St. Louis, Missouri, a stockbroker currently registered with Great American Investors, Inc., has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he engaged in unauthorized business communications with the firm’s customers and concealed his conduct…
Gary Roland Rodgers, of Austin, Texas, a stockbroker formerly registered with WFG Investments, Inc., is the subject of a customer initiated investment related written complaint on June 15, 2017, in which the customer requested $99,000.00 in damages based upon allegations that Rodgers failed to apprise the customer about holding periods, liquidity, and other terms and…
Eric Steven Korhut, of Johnstown, Pennsylvania, a stockbroker formerly registered with Ameriprise Financial Services, Inc., has been terminated on August 30, 2016, based upon allegations that he exercised discretion in customer accounts without the firm’s approval of the accounts as discretionary. The firm also alleged that Korhut failed to comply with the firm’s supervision policies…
James Brian Cain, of Beverly Hills, California, a stockbroker currently registered with UBS Financial Services, Inc., is the subject of a customer initiated investment related written complaint on May 22, 2017, in which the customer sought $145,000.00 in damages based upon accusations that Cain omitted information from the customer about the risks and liquidity pertaining…
Thaddeus Peter McGaffey, of Bloomfield Hills, Michigan, a stockbroker formerly registered with Waddell & Reed, has been assessed a monetary penalty of $2,111.68 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity according to a Decision containing findings that McGaffey failed to notify FINRA about the status of his…
Dwain Carroll, of Holbrook, New York, a stockbroker formerly registered with Citigroup Global Markets Inc., was terminated from employment on November 5, 2015, based upon allegations that he facilitated an unauthorized transaction involving a customer’s funds by signing a customer transfer form that the customer never authorized. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals…
Shoug Mayson, of New York, New York, a stockbroker formerly registered with Windsor Street Capital, LP, was terminated on June 22, 2017, based upon allegations that he engaged in business activities with another broker-dealer during the time that he was registered with Windsor Street Capital, and furnished inaccurate customer account information to his firm. This…
Ronald G. Richer, of New York, New York, a stockbroker currently registered with Garden State Securities, Inc., is the subject of a customer initiated investment related arbitration claim on April 3, 2017, where the customer requested $50,775.00 in damages supported by allegations that from February 2015 to July 2015, Richer effected unsuitable stock transactions in…
Kerri Lynn Wassermann, of New York, New York, president of FINRA registered broker-dealer, Portfolio Advisors Alliance, LLC, was charged by the Securities and Exchange Commission (SEC) in a Complaint alleging that as president of a placement agency, he furnished investors with documents that he knew were misrepresented in the solicitation of securities transactions. Securities and…
Kevin Foster Friedman, of Woodland Hills, California, a stockbroker formerly registered with Wells Fargo Clearing Services, is the subject of a customer initiated investment related arbitration claim, which settled for $1,100,000.00 in damages on May 2, 2017, based upon allegations of the failure to supervise a financial advisor who effected faulty closed-end fund transactions in…
Mark S. Perry, of Mt. Pleasant, South Carolina, a stockbroker formerly registered with Royal Alliance Associates, Inc., has been suspended for eighteen months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity by consenting to findings that he made unsuitable investment recommendations to customers. Letter of Acceptance, Waiver and Consent, No….
Leon Vaccarelli, a registered representative associated with The Investment Center, Inc. was charged by the United States Securities & Exchange Commission with violating Section 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rules 10b-5 and 21F-17(a). According to the Complaint, Vaccarelli, doing business as Lux…
Earlier this week, federal prosecutors and the United States Securities & Exchange Commission filed two separate but related complaints against Dawn J. Bennett, a former registered representative of Western International Securities, Inc. alleging that she conducted a massive $20 million Ponzi scheme. When the FBI raided Bennett’s home, there were the accoutrements of excess, and…
Todd Alan Shanholtzer, of Las Vegas, Nevada, a stockbroker formerly registered with Park Avenue Securities, LLC, has been fined $10,000.00 and suspended for six months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he sold away from his firm, misused customer funds, and entered…
William George Fisher Connell II, of Livonia, Michigan, a stockbroker formerly registered with Wunderlich Securities, Inc., is the subject of a customer initiated investment related arbitration claim on February 14, 2017, in which the customer requested $100,000.00 in damages supported by allegations that Connell made misrepresentations to the customer, negligently handled the customer’s investment account,…
Timothy John Platt, of Naperville, Illinois, a stockbroker formerly registered with Morgan Stanley, is the subject of a customer initiated investment related complaint, which settled on October 26, 2016, for $112,500.00 in damages resting upon allegations that from June 2, 2011, and May 17, 2016, Platt effected mutual fund transactions in the customer’s account despite…
Francisco Jose Faraco, of New York, New York, a stockbroker formerly registered with Morgan Stanley, was fired from employment on February 1, 2017, based upon allegations of his misconduct relating to customer account documentation that contained unauthorized alterations and signatures. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that on September 8, 2016, a customer…
Michael Jeffrey Rudd, of Norman, Oklahoma, a stockbroker formerly registered with United Planners’ Financial Services, is the subject of a customer initiated investment related written complaint, which settled on May 5, 2017, for $9,738.00 in damages, wherein the customer’s claim was supported by allegations that Rudd allocated the customer’s investment portfolio in exchange traded funds…
Tory A. Duggins, of New York, New York, a stockbroker currently registered with Spartan Capital Securities, LLC, has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that he failed to fulfill his financial obligations pertaining to a customer initiated investment related settlement agreement or award…
Joshua J. Pratta, of Towson, Maryland, a stockbroker formerly registered with Merrill Lynch, Pierce, Fenner & Smith Incorporated, is the subject of a customer initiated investment related written complaint on October 24, 2016, in which the customer requested $100,000.00 in damages based upon allegations that Pratta made misrepresentations and omissions, recommended unsuitable investments, and effected…
Todd Michael Ellentuck, of Florham Park, New Jersey, a stockbroker formerly registered with UBS Financial Services Inc., has been fired by his employer on October 19, 2016, based upon allegations that he generated excess payments via commissions and fees in securities transactions, effected trades that were not authorized, and failed to effect trades in a…
Adam Saul Frankfort, of New York, New York, a stockbroker currently registered with Raymond James & Associates, Inc., is the subject of a customer initiated investment related written complaint on May 31, 2017, in which the customer sought $1,000,000.00 in damages founded on allegations that from November 16, 2016, to May 5, 2017, Frankfort made…
Craig Scott Taddonio, owner and president of Craig Scott Capital, LLC, as well as Brent Morgan Porges, owner and chief compliance officer, and Edward Beyn, the firm’s registered representative, were all barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity according to a FINRA Office of Hearing Officers Extended Hearing…
Jay Dee Jordan, of Oklahoma City, Oklahoma, a stockbroker formerly registered with WFG Investments, Inc., has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he made unsuitable investment recommendations to the customer, effected unauthorized transactions in the customer’s account, mismarked customer order…
William Norris Jordan, Jr., of Philadelphia, Pennsylvania, a stockbroker formerly registered with Kildare Capital, Inc., was subject of a $7,000.00 fine and one-year suspension from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity according to a Hearing Panel Decision containing findings that Jordan created a fraudulent trading scheme and made material…
Keith Joseph Michelfelder, of New York, New York, a stockbroker formerly registered with Joseph Gunnar & Co. LLC, has been fined $10,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he effected unauthorized trades in the firm’s customer accounts. Letter of Acceptance,…
City National Securities, Inc., headquartered in Beverly Hills, California, has been censured and fined $250,000.00 by Financial Industry Regulatory Authority (FINRA) based upon consenting to findings that the firm failed to properly supervise outside business activities and private securities transactions. Letter of Acceptance, Waiver and Consent, No. 2014043089901 (Aug. 24, 2017). According to the AWC,…
John P. Correnti, of Cleveland, Ohio, a stockbroker formerly registered with AXA Advisors, LLC, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he failed to cooperate in a FINRA investigation into allegations that inter alia, Correnti engaged in outside business activities…
Fan Kam Yip, of Mercer Island, Washington, a stockbroker formerly registered with Raymond James Financial Services, Inc., has been fined $5,000.00 and suspended for three months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he sold away from his firm. Letter of Acceptance, Waiver…
Federal prosecutors and the SEC recently filed separate but related complaints against Dawn J. Bennett, a 28-year industry veteran, alleging that she conducted a Ponzi-like scheme through her investment company, DJB Holdings, LLC. Bennett worked out of Washington, DC. According to the complaints filed in Maryland federal court, Bennett and her firm sold convertible notes…
The SEC filed an emergency action in Colorado federal court on August 23rd to freeze the assets of recently terminated LPL Financial broker Sonya D. Camarco, a/k/a Sonya D. Fatchett. The court granted the request August 24th. The SEC alleges in its complaint that from 2004 to 2017, Camaro stole approximately $2.8 million from multiple…
Adam K. Veron, a broker formerly employed at Questar Capital Corporation in Lake Charles, LA, has agreed to be barred from the securities industry. In mid 2015, Veron formed Contract Funding & Corporate Management LLC (“CFCM”), naming himself as president. From July 2015 until December 2016 he then sold approximately $1.8 million of shares of…
Ronald Benevento, of Holbrook, New York, a stockbroker formerly registered with American Portfolio Financial Services, Inc., has been fined and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he effected unsuitable mutual fund switches in customer accounts, and mismarked customers trades as unsolicited….
Lorenzo C. Esteva, of Miami, Florida, a stockbroker registered with UBS Financial Services, Inc., was terminated from employment on June 6, 2017, based upon allegations that he confessed to furnishing bogus account information to customers in the course of the firm’s investigation into his business activities. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that…
Matthew Christopher Tucci, of New York, New York, a stockbroker formerly registered with Standard Credit Securities, Inc., has been fined $10,000.00 and suspended for four months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he, inter alia, engaged in outside business activities and inaccurately…
Ralph Edward Martin, of Washington, Illinois, a stockbroker formerly registered with Princor Financial Services Corporation, has been fined $10,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he effected unauthorized trades in customer accounts. Letter of Acceptance, Waiver and Consent, No. 2014042877101…
Bae Keun Yu, of Los Angeles, California, a stockbroker formerly registered with SH Investment & Securities, has been fined and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he engaged in undisclosed outside business activities. Letter of Acceptance, Waiver and Consent, No. 2016047873501…
Summit Brokerage Services, Girard Securities, Inc., First Allied Securities, Inc., and Cetera Financial Specialists, were censured by Financial Industry Regulatory Authority (FINRA) based upon consenting to findings that the firms deprived their respective customers with discounts on mutual funds transactions and failed to supervise procedures to ensure that waivers of sales charges were applied for…
Christopher D. Stoddard, of Norwell, Massachusetts, a stockbroker formerly registered with Morgan Stanley, has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he altered customer account documentation. Letter of Acceptance, Waiver and Consent, No. 2016051578601 (Aug. 16, 2017). According…
William H. Merriam, IV, of Jacksonville, Florida, a stockbroker formerly registered with Merrill Lynch, Pierce, Fenner & Smith, Inc., has been fined and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he failed to cooperate in an investigation into his alleged forgery. Letter…
Adam K. Veron, of Lake Charles, Louisiana, a stockbroker formerly registered with Questar Capital Corporation, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he engaged in private securities transactions. Letter of Acceptance, Waiver and Consent, No. 2017053237601 (Aug. 22, 2017). According…
Tony Barouti, of Los Angeles, California, a stockbroker formerly registered with Newport Coast Securities, Inc., is the subject of a customer initiated investment related written complaint on July 20, 2015, in which the customer requested $100,000.00 in damages based upon allegations that Barouti made misrepresentations to the customer in reference to direct investment products effected…
Andrew James Pravlik, of Pittsburgh, Pennsylvania, a stockbroker formerly registered with Prospera Financial Services, Inc., has been terminated from employment on January 27, 2017, based upon allegations that he did make a written disclosure to the company in a manner that conformed to the firm’s policies. This is not the first time that Pravlik has…
William H. Merriam IV recently signed a letter of acceptance, waiver and consent (“AWC”) with FINRA agreeing to be barred from the securities industry. Merriam joined Merrill Lynch in June 2014 to work in the Jacksonville FL branch office of Merrill Lynch. He worked with his father. In January 2017 Merriam voluntarily resigned from Merrill…
An Omaha Nebraska FINRA panel has awarded $440,000 if favor of the beneficiaries of an estate. Kari Larson opened two individual retirement accounts with Ameriprise in Nebraska in 2013. She later opened a third non-retirement account with the firm. The claimants Tab and Jan Larson were named as beneficiaries for the IRAs. After Kari Larson…
Leor Yohanan, of New York, New York, a stockbroker formerly registered with Meyers Associates, L.P., has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that he did not provide FINRA with a response to an informational request concerning Yohanan’s business activities. Letter No. 2014040349301 (Sept….
Dennis Allen Webb, of New Palestine, Indiana, a stockbroker registered with Cantella & Co., Inc., has been fined $10,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he engaged in outside business activities. Letter of Acceptance, Waiver and Consent, No. 2016048816701 (Oct….
Christopher John Calandrino, of Holbrook, New York, a stockbroker formerly registered with Holbrook, New York, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that he failed to provide FINRA with information about his business activities. Letter No. 2016051602401 (Feb. 10, 2017). FINRA Public Disclosure…
Chad Daniel Hornaday, of Carlsbad, California, a stockbroker formerly registered with AXA Advisors, LLC, has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that Chad had failed to provide FINRA with information concerning Hornaday’s business activities. Letter No. 2016051227501 (May 1, 2017). FINRA Public Disclosure…
Hallmark Investments, Inc., a broker-dealer headquartered New York City, as well as the firm’s chief executive officer, Steven Dash, and stockbroker, Stephen Zipkin, have been sanctioned by Financial Industry Regulatory Authority (FINRA) pursuant to an Office of Hearing Officers Order Accepting Offer of Settlement containing findings that the firm and staff defrauded customers. Department of…
Daniel E. Peltier, of Edina, Minnesota, a stockbroker formerly registered with Raymond James & Associates, Inc., has been fined $40,000.00 and suspended for ten months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he engaged in the manipulation of a stock, failed to conduct…
Paul Vincent Blum, of West Palm Beach, Florida, a stockbroker formerly registered with RBC Capital Markets, LLC, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he failed to cooperate with FINRA in the course of an investigation into customer complaints. Letter…
James Michael Casey, of Palm Desert, California, a stockbroker formerly registered with Purshe Kaplan Sterling Investments, is the subject of a customer initiated investment related arbitration claim on May 18, 2017, in which the customer requested $50,000.00 in damages based upon allegations that Casey made misrepresentations to the customer by claiming that there was no…
George Dahl, of New York, New York, a stockbroker formerly registered with Revere Securities, has been fined and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he failed to comply with FINRA in the course of an investigation into allegations of his wrongdoing….
Shelley Steuer Freeman, of Beverly Hills, California, a stockbroker formerly registered with Wells Fargo Clearing Services, LLC, has been fined and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that she failed to cooperate with FINRA in an investigation into allegations of her sales…
Alex Ernesto Batlle, of San Francisco, California, a stockbroker formerly registered with Princor Securities, Inc., has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon his failure to communicate with FINRA staff in reference to his business activities. Letter No. 2015047755401 (May. 25, 2016). FINRA Public Disclosure…
Steven John Szmak, of Flemington, New Jersey, is the subject of a customer initiated investment related arbitration claim on July 21, 2015, in which the customer requested $51,596.00 in damages based upon allegations that Szmak made unsuitable investment recommendations to the customer about corporate debt investments effected in the customer’s account. Financial Industry Regulatory Authority…
Jason Eric Mininger, of Rocklin, California, a stockbroker formerly registered with Kovack Securities Inc., has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that he failed to notify FINRA staff about whether or not he complied with a customer initiated investment related settlement or arbitration…
Michael Philip Capolongo, of Melville, New York, a stockbroker formerly registered with Laidlaw & Company (UK) Ltd., is the subject of a customer initiated investment related arbitration claim, which settled on July 2, 2015, for $28,500.00 in damages based upon allegations that Capolongo effected unsuitable stock transactions in the customer’s account and churned the customer’s…
William Howard Coons, of New York, New York, a stockbroker formerly registered with Hallmark Investments, Inc., has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity pursuant to a Decision and Order of Offer of Settlement containing findings that Coons sold securities that were not registered….
Sammy Junito Carrasquillo, of New York, New York, a stockbroker formerly registered with Chase Investment Services Corp., is the subject of a customer initiated investment related written complaint on August 8, 2011, in which the customer requested $19,902.44 in damages based upon allegations that Carrasquillo effected unsuitable transactions in the customer’s account and made misrepresentations…
Lance David Rubachko, of Newport Beach, California, a stockbroker formerly registered with Securian Financial Services, Inc., is the subject of a customer initiated investment related written complaint on July 6, 2017, wherein the customer requested more than $5,000.00 in damages based upon allegations that Rubachko made investment misrepresentations to the customer and also misled the…
Paul Anthony Posillico, of Melville, New York, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that he did not provide FINRA with information about his business activities after it was requested of him. Letter No. 2014042126601 (Oct. 5, 2015). This is not the first…
Jeffrey Paul Dragon of Burlington, Massachusetts, a stockbroker formerly registered with Berthel, Fisher & Company Financial Services, Inc., has been charged by Financial Industry Regulatory Authority (FINRA) in a Complaint alleging that he effected unsuitable unit investment trust transactions in customer accounts. Department of Enforcement v. Jeffrey Paul Dragon, et al., No. 2014039169601 (Mar. 20, 2017)….
David J. Hollander, of Oakland, California, a stockbroker currently registered with Liberty Group, LLC, is the subject of a customer initiated investment related arbitration claim on July 23, 2017, in which the customer requested $35,000.00 in damages based upon allegations that Hollander omitted information about tax liabilities pertaining to the customer’s liquidation of a variable…
Shaun Paul Golden, of New York, a director of Golden Wealth Management, Inc., has been permanently barred in all securities registration capacities and subject of cease and desist sanctions imposed by Florida’s Office of Financial Regulation pursuant to an Order containing findings that Golden applied for securities registration in the State of Florida by making…
Mark A. Schneider, of Omaha, Nebraska, a stockbroker registered with Northwestern Mutual Investment Services, LLC, has been terminated from employment on April 21, 2016, based upon allegations that he failed to accurately document his activities within the firm’s internal notes system; conduct violative of the firm’s business conduct policy. Financial Industry Regulatory Authority (FINRA) Public…
Stuart Stein, of Hauppauge, New York, a stockbroker formerly registered with MML Investors Services, LLC, was terminated from employment on August 5, 2016, based upon allegations that he mishandled information that the firm deemed private. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that on January 12, 2016, Stein was also fired by his previous…
A FINRA hearing panel has barred broker Edward Byen and his two supervisors, Craig Scott Taddonio and Brent Morgan Porges, from the securities industry. They all previously worked at Craig Scott Capital of Uniondale, NY. FINRA filed an enforcement complaint in December 2015 alleging that the “firm and its owners had fostered a culture of…
Anthony Vincent Ferrone entered into an acceptance, waiver and consent agreement (“AWC”) with FINRA and has been barred from the securities industry. Ferrone was the subject of a FINRA investigation concerning the unsuitable sales of unit investment trusts to customers. Ferrone was actually in the middle of an on the record interview (“OTR”) being conducted…
In an arbitration award dated June 27, 2017, a three-member panel awarded Oregon investors Scott and Jan Tullis $192,103 in damages and interest against Ameriprise Financial Services, Inc., and its broker, Andrew Joseph Hall. Hall worked in Portland, Oregon. The panel gave a one-paragraph explanation for the award. The panel determined that respondents engaged in…
David Leonard Sheppard, a former broker who worked in New York and Massachusetts, was barred from the securities industry in April 2017. Sheppard was in the middle of a FINRA inquiry. FINRA was investigating Sheppard for potential excessive trading and churning in multiple customer accounts. In conjunction with its investigation, FINRA requested that Sheppard appear…
On July 24,2017 a FINRA arbitration panel in Wyoming awarded John and Kathleen Keck $559,612 based on their claim of negligence against RBC Capital Markets LLC and three RBC brokers, Jacqueline Sarette Georgio, Paul Samuel Howard and Brian Kristian Pedersen. The award was joint and several against the four respondents. They worked out of an…
Neil Vinod Mehta, of Pompano Beach, Florida, a stockbroker registered with JPMorgan Securities, LLC, was terminated from employment on October 18, 2016, based upon allegations that he failed to provide customers with the correct prices for investments on mutual funds effected in the customer’s account. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that on…
Kenneth Lee Jones, of New York, New York, a stockbroker formerly registered with Aegis Capital Corp., has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he failed to provide FINRA with information during FINRA’s investigation into allegations of Jones’ sales practice violations…
Chuck J. Hilliard II, of Austin, Texas, a stockbroker formerly registered with Kestra Investment Services, LLC, is the subject of a customer initiated investment related written complaint on December 7, 2016, in which the customer requested more than $5,000.00 in damages based upon allegations that Hilliard effected unsuitable transactions in the customer’s account. Financial Industry…
Steven Robert Tomlinson, of Elmira, New York, a stockbroker formerly registered with Wells Fargo Advisors, LLC, is the subject of a customer initiated investment related arbitration claim on May 16, 2017, in which the customer requested damages estimated at $5,000.00 in damages based upon allegations that Tomlinson effected unsuitable transactions in the customer’s account between…
Michael Taylor Shuttlesworth, of Tuscaloosa, Alabama, a stockbroker formerly registered with Crown Capital Securities, L.P., has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that he did not provide information to FINRA that was requested of him concerning his activities. Case No. 2015047434801 (April 18,…
Ronald William Weimer, of St. Joseph, Michigan, a stockbroker formerly registered with J.J.B. Hilliard, W.L. Lyons, LLC, has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he borrowed funds despite lacking authorization from the firm. Letter of Acceptance, Waiver…
Anthony Vincent Ferrone, of Paramus, New Jersey, a stockbroker formerly registered with Ameriprise Financial Services, Inc., has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he failed to cooperate in an investigation into allegations of unsuitable trading in customer accounts. Letter of…
Russel W. Newton, of Westport, Connecticut, a stockbroker formerly registered with Source Capital Group, Inc., has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he failed to cooperate with FINRA in an investigation into allegations of his misconduct, which included possible securities…
Mark Horan, of Florham Park, New Jersey, a stockbroker formerly registered with UBS Financial Services, Inc., is the subject of a customer initiated investment related arbitration claim, which settled on October 28, 2015, for $350,000.00 in damages based upon allegations that Horan effected an unauthorized over-the-counter equity transaction for the customer. The customer indicated that…
Sandy Michael Galuppo, of New York, New York, a stockbroker registered with Merrill Lynch, Pierce, Fenner & Smith Incorporated, was terminated from employment on October 3, 2016, based upon allegations that he furnished expense information to his firm in a manner that “violated the company’s policies.” Moreover, on April 11, 2017, Financial Industry Regulatory Authority…
Jerry Allen Cicolani Jr., of Cleveland, Ohio, a stockbroker formerly registered with PrimeSolutions Securities, Inc., is the subject of a Securities and Exchange Commission (SEC) Order Instituting Administrative Proceedings pursuant to Securities Exchange Act of 1934 Section 15(b) as well as Section 203(f) of the Investment Advisers Act of 1940 containing findings that Cicolani illegally…
Michael Frank Paesano, of New York, New York, a stockbroker registered with Morgan Stanley, was terminated from employment on December 21, 2016, based upon allegations that he effected faulty investment strategies and unauthorized trades in customer accounts. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Paesano has been identified in fifteen customer initiated investment…
Pablo Leonel Gherardi, of Miami Florida, a stockbroker registered with Wells Fargo Advisors, was terminated from employment on November 9, 2016, based upon allegations that he took part in a foreign investment transaction and failed to provide consistent information to his firm relating to the transaction. Financial Industry Regulatory Authority (FINRA) Public Disclosure also reveals…
Edward Jones, a broker-dealer located in Saint Louis, Missouri, was censured and fined $725,000.00 by Financial Industry Regulatory Authority (FINRA) for the failure to supervise consolidated reports transmitted to customers regarding their accounts inside and outside of Edward Jones. Letter of Acceptance, Waiver and Consent, No. 2016049783001 (July 13, 2017). According to the AWC, an…
Munaem Choudhury, of Staten Island, New York, a stockbroker formerly registered with Chelsea Financial Services, has been fined $5,000.00 and suspended for six months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he failed to cooperate in an investigation into his business activities. Letter…
David Joseph Escarcega, of Phoenix, Arizona, a stockbroker formerly registered with Center Street Securities, Inc., was the subject of a Financial Industry Regulatory Authority (FINRA) National Adjudicatory Council Decision which contained findings that Escarcega, inter alia, made unsuitable investment recommendations to the customers, and fraudulently misrepresented debentures that were sold to them. In the Matter…
Kyle Robert Foyer, of Carmel, Indiana, a stockbroker formerly registered with The O.N. Equity Sales Company, has been sanctioned via the revocation of Foyer’s securities registration based upon allegations that he failed to fulfill the financial obligations associated with a previous regulatory manner resulting in findings of his misconduct. Case No. 2013038677001 (Feb. 15, 2017)….
Gregg Brian Weiss, of York, Pennsylvania, a stockbroker registered with Morgan Stanley Smith Barney, was terminated from employment on August 1, 2016, based upon the firm’s allegations that he partook in unauthorized outside business activities, made omissions regarding tax documents, and sought to be repaid for expenses that he did not incur in connection with…
Gregory Thormann Pease, of New York, New York, a stockbroker formerly registered with Wells Fargo Clearing Services, LLC, is the subject of a customer initiated investment related civil action on November 14, 2016, in which the customer requested more than $5,000.00 in damages based upon allegations that he failed to provide the customer with an…
Blaze Tatananni, of Pittsburgh, Pennsylvania, a stockbroker formerly registered with Morgan Stanley, is the subject of a customer initiated investment related civil action on May 4, 2017, in which the customer requested $10,000,000.00 in damages based upon allegations of corporate debt trades having been effected in the customer’s account without the customer’s consent between 2013…
Harold Francis Martek Jr., of Palm City, Florida, a stockbroker formerly registered with Centaurus Financial, Inc., is the subject of a customer initiated investment related arbitration claim on May 4, 2017, in which the customer requested $60,000.00 in damages based upon allegations that Martek made unsuitable investment recommendations to the customer concerning an equity investment,…
John F. Riccardi Jr., of New York, NY, a stockbroker formerly registered with Meyers Associates LP, is the subject of a Financial Industry Regulatory Authority (FINRA) Wells Notice stating that regulatory action was recommended against him by FINRA based upon allegations that he violated FINRA Rules 2020 and 2010, as well as Securities and Exchange…
Timothy Glen Asp, of Reedsburg, Wisconsin, a stockbroker formerly registered with Packerland Brokerage Services, Inc., is the subject of a customer initiated investment related written complaint on May 4, 2017, in which the customer requested $5,000.00 in damages based upon allegations that Asp’s sales practice violations led the customer to suffer significant investment losses from…
Michael Vito Gisonda, of Boca Raton, Florida, a stockbroker currently registered with NYLife Securities LLC, is the subject of a customer initiated investment related arbitration claim on May 3, 2017, in which the customer requested $1,600,000.00 in damages based upon allegations that Gisonda effected unsuitable transactions in the customer’s account concerning managed account products as…
James Edward Lyons, of Shreveport, Louisiana, a stockbroker for Raymond James & Associates, Inc., was terminated from employment on April 28, 2017, based upon a customer’s allegations that Lyons effected trades in the customer’s investment account despite failing to first gain proper authorization from the customer. In response to his denial of any misconduct, his…
Amanda Yvette Burnett, of Tucker, Georgia, a stockbroker formerly registered with Invest Financial Corporation, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that Burnett failed to provide FINRA with information relating to her business activities. Letter No. 2016051430501 (Jan. 30, 2017). Rather than talk,…
Susan Elizabeth Walker, of Wayzata, Minnesota, a stockbroker formerly registered with Ameriprise Financial Services, Inc., has been identified in a customer initiated investment related written complaint on May 3, 2017, in which the customer requested $19,008.93 in damages based upon allegations that Walker walked off with the customer’s funds. Financial Industry Regulatory Authority (FINRA) Public…
Bradley Andrew Marks, of New York, New York, a stockbroker currently registered with Morgan Stanley, is the subject of a customer initiated investment related arbitration claim on May 2, 2017, in which the customer sought $68,294.16 in damages based upon allegations that Marks failed to execute upon the customer’s instructions regarding an in-house money manager…
Adam T. Marquardt, of Rochester, Minnesota, a stockbroker currently registered with Wells Fargo Advisors Financial Network, LLC, is the subject of a customer initiated investment related arbitration claim on May 2, 2017, in which the customer requested at least $150,000.00 in damages based upon allegations that Marquardt effected energy sector stock transactions in the customer’s…
Steve Woo, of Torrance, California, a stockbroker formerly registered with JP Morgan Securities LLC, has been terminated from employment on January 27, 2016, based upon allegations that he effected trades in customer accounts on an unauthorized basis. The firm particularly alleged that customers never provided Woo with consent for discretion to be exercised by him…
Harry Timothy Couch, of Dawsonville, Georgia, a stockbroker currently registered with WFG Investments, Inc., is the subject of a customer initiated investment related arbitration claim on May 2, 2017, in which the customer requested $1,500,000.00 in damages based upon allegations that from 2009 to 2016, Couch over concentrated the customer’s assets, effected trades on an…
Richard Ball Ryan, of Hyannis, Massachusetts, a stockbroker formerly registered with Wells Fargo Clearing Services, Inc., is the subject of a customer initiated investment related arbitration claim on May 2, 2017, wherein the customer requested $250,000.00 in damages supported by allegations that Ryan made unsuitable investment recommendations to the customer pertaining to mutual fund products….
Brian R. Bates, of Gilbert, Arizona, a stockbroker currently registered with BBVA Securities Inc., is the subject of a customer initiated investment related written complaint on May 2, 2017, where the customer requested $11,000.00 in damages founded upon allegations that Bates made misrepresentations to the customer and effected a variable annuity purchase that was not…
Michael John Wood, of Lake Tapps, Washington, a stockbroker registered with Thrivent Investment Management Inc., was terminated from employment on July 31, 2016, based upon allegations that he submitted variable settlement option transactions for a customer despite the customer never having consented to the transactions. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Wood…
Thomas J. Brenner, Jr., of Orrville, Ohio, a stockbroker formerly registered with First American Securities, Inc., has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he failed to provide FINRA staff with testimony in regard to his private placement sales activities. Letter…
Travis J. Lippmann, of New York, New York, a stockbroker formerly registered with Dawson James Securities, Inc., is the subject of a customer initiated investment related written complaint on May 30, 2017, in which the customer requested $34,000.00 in damages based upon allegations that between August of 2014 and July of 2015, Lippmann made misrepresentations…
Willie L. Vales, of Conshohocken, Pennsylvania, a stockbroker formerly registered with Santander Securities LLC, is the subject of a customer initiated investment related arbitration claim on February 27, 2017, based upon allegations including violation of securities laws, breach of contract, breach of fiduciary duty, over-concentration, and misrepresentation pertaining to exchange traded funds effected in the…
In July 2017, Philip Marchese, of New York, New York, a stockbroker formerly registered with Legend Securities, Inc., was the subject of a customer initiated investment related arbitration claim seeking $825,000.00 in damages based upon allegations that he made investment based misrepresentations to the customer, violated the Minnesota Securities Act, breached his fiduciary and contractual…
William Dean Byrd, of Tampa, Florida, a stockbroker formerly registered with Transamerica Financial Advisors, Inc., is the subject of a customer initiated investment related arbitration claim, which settled on January 19, 2017, for $100,000.00 in damages based upon allegations that Byrd made misrepresentations to the customer concerning mutual fund investments and effected transactions in the…
Dale Christian Russell Sr., of Portland, Oregon, a stockbroker formerly registered with Merrill Lynch, Pierce, Fenner & Smith Incorporated, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he failed to cooperate with an investigation into his alleged prohibited activities relating to…
Leland Merritt Fruhman, of Houston, Texas, a stockbroker registered with Wells Fargo Clearing Services, was terminated from employment on May 1, 2017, based upon allegations that he took unauthorized possession of the firm’s documents. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Fruhman has been identified in four customer initiated investment related disputes concerning…
Marc Francis Rogers, of East Palo Alto, California, is the subject of a customer initiated investment related written arbitration claim on May 2, 2017, wherein the customer requested an estimated $5,000.00 in damages based upon allegations that he failed to adequately apprise the customer concerning tax liabilities associated with securities transactions effected in the customer’s…
Edward Anthony Torres, of Anaheim, California, a stockbroker formerly registered with Ameriprise Financial Services, Inc., is the subject of a customer initiated investment related written complaint on May 1, 2017, wherein the customer requested $40,291.42 in damages based upon allegations that Torres negligently managed the customer’s individual retirement account, and made unsuitable investment recommendations to…
James R. Schaedler, Jr. of Anaheim, California, a stockbroker formerly registered with Wells Fargo Clearing Services, LLC, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he obstructed a FINRA investigation into allegations of obtaining improper gifts from customers. Letter of Acceptance,…
Jason Travis Turner, of Bedford, Virginia, a stockbroker formerly registered with Wells Fargo Advisors, LLC, is the subject of a customer initiated investment related written complaint on March 21, 2017, in which the customer requested an estimated $5,000.00 in damages based upon allegations that Turner effected unauthorized and unsuitable transactions in the customer’s account in…
Jason H. LeBlanc, of Fulshear, Texas, a stockbroker formerly registered with Girard Securities, Inc., has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he sold away from his firm, engaged in outside business activities without apprising his firm, misused customers’ monies, and…
Richard S. Botkin, of Roseville, California, a stockbroker formerly registered with Morgan Stanley, has been fined $15,000.00 and suspended for four months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he effected private securities transactions without notification to his firm. Letter of Acceptance, Waiver…
Christopher David Sadaka, of Paramus, 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 May 1, 2017, based upon allegations that between May of 2015 to April of 2017, Sadaka made unsuitable investment recommendations to the customer concerning…
Mark Charles Koehler, of Chadds Ford, Pennsylvania, a stockbroker formerly registered with Cetera Advisor Networks LLC, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he obstructed a FINRA investigation into allegations that he effected unsuitable investment transactions in customer accounts. Letter…
Nicole Marie Andres, of New York, New York, a stockbroker formerly registered with Credit Suisse Securities (USA) LLC, is the subject of a customer initiated investment related written complaint on January 30, 2017, in which the customer requested $44,355.00 in damages based upon allegations that Andres made unsuitable investment recommendations to the customer concerning exchange…
Gregory Richard Sherf, of Leawood, Kansas, a stockbroker currently registered with Merrill Lynch, Pierce, Fenner & Smith Inc., is the subject of a customer initiated investment related written complaint on April 28, 2017, in which the customer requested $15,504.80 in damages based upon allegations that Sherf, between February of 2014 and April of 2017, made…
Bryce Scott Wilinski, of Melville, New York, a stockbroker formerly registered with Merrill Lynch, Pierce, Fenner & Smith Incorporated, is the subject of a customer initiated investment related arbitration claim, wherein the customer was awarded $352,815.00 in damages on June 16, 2016, based upon allegations that Wilinski made misrepresentations and omissions to the customer, failed…
Jose Anselmo Feliciano Jr., a stockbroker formerly registered with Woodbury Financial Services, Inc., is the subject of a customer initiated investment related written complaint on May 5, 2017, in which the customer requested $60,000.00 in damages based upon allegations that Feliciano made misrepresentations to the customer concerning two variable annuity purchases. Financial Industry Regulatory Authority…
By: Dana N. Pescosolido Overall win rates for the first six months of 2017 are consistent with the past, but All-Public Panels gave awards to Claimants more often than in the past, and almost twice as often as did Majority-Public Panels. Recovery Rates are running higher this year, with compensatory awards averaging 63% of the…
RBC Wealth Management has settled a customer complaint filed by a prominent Indianapolis, IN family for $3.5 million. The settlement occurred in April of this year. According to news reports and FINRA filings, the family of the late Robert Skinner, co-founder of Skinner and Broadbent, Inc., a prominent shopping center developer in the Midwest, settled…
Aaron Robert Parthemer was barred from the securities industry by FINRA in 2015. The bar resulted from Parthemer’s unapproved outside business activities, inappropriate and unapproved loans to customers and unapproved private securities transactions. Parthemer worked in Ft. Lauderdale, FL, at Morgan Stanley from June 2009 to October 2011. He then worked at Wells Fargo, also…
These are only allegations, these are only allegatons, there are only allegations. FINRA filed a complaint in February, 2017, alleging that former Edward Jones broker Austin Morton of Sallisaw, Oklahoma, converted $36,000 from an elderly former client. This tale of woe begins in November 2016, when the daughter of the client, with a power of…
On July 11, 2017, the Pennsylvania Department of Banking and Securities announced that it has fined Newbridge Securities Corporation $499,000 for failure to supervise. The order does not specify the products or the number of affected Pennsylvania investors. It also does not identify the broker who made the problematic sales. The BrokerCheck report for Newbridge…
A FINRA arbitration panel from New York issued an award dated July 10, 2017, in favor of customer Timothy McLaughlin against Northeast Securities, Inc., and three of its employees, Steven Joseph Perrone, Diane Hawkins and Jonathan Michael Zucker. Northeast Securities and the three employees were all named as respondents in the claim. FINRA Arbitration No….
On July 13, 2017, a FINRA arbitration panel issued an award finding that Wedbush Securities and its former broker, Mark F. Augusta, “engaged in improper conduct” regarding two elderly customers, Agatha and John Dancy, 16-00847. The hearing took place in Los Angeles, CA. Augusta worked out of Wedbush’s Solana Beach, CA office. The arbitration claim,…
On June 2, 2017, Nevada Governor Brian Sandoval signed Senate Bill 383, which amends the Nevada Securities Act to include broker-dealers, investment advisors and their individual representatives as fiduciaries. The bill went into effect on July 2, 2017. Under Nevada securities law, “financial planners” are defined and considered to be fiduciaries in relation to their…
John Arthur Dettelbach, of Pepper Pike, Ohio, a stockbroker currently registered with Wells Fargo Advisors, LLC, has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he effected unauthorized transactions in customer accounts. Letter of Acceptance, Waiver and Consent, No….
Ankit Sahu, of San Francisco, California, a stockbroker formerly registered with UBS Financial Services Inc., has been named in a customer initiated investment related arbitration claim on April 28, 2017, in which the customer requested $500,000.00 in damages based upon allegations that he effected unsuitable transactions in the customer’s investment account, and misrepresented UBS AG…
Samir Collauku, of Edison, New Jersey, a stockbroker formerly registered with National Securities Corporation, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that he failed to provide FINRA staff with information relating to his business activities. Letter No. 2014043784001 (Feb. 2, 2016). FINRA Public…
James John Raia, or Ridgewood, New York, a stockbroker formerly registered with J.P. Turner & Company, has been named in a customer initiated investment related written complaint on May 25, 2017, wherein the customer sought $110,000.00 in damages based upon allegations that Raia, from 2013 to 2017, effected real estate security and variable annuity transactions…
Paul Anthony Snow, of Grand Rapids, Michigan, a registered representative associated with AXA Advisors, LLC, has been named in a customer initiated investment related written complaint on April 26, 2017, based upon allegations that he made unsuitable investment recommendations to the customer concerning an individual retirement account, and omitted information from the customer about fees…
James Edward Bashaw, of Houston, Texas, a stockbroker formerly registered with LPL Financial LLC, has been named in a customer initiated investment related arbitration claim on September 2, 2016, in which the customer requested $3,800,000.00 in damages based upon allegations that Bashaw made unsuitable investment recommendations to customers concerning Texas Air Shuttle, LLC. Customers additionally…
Brandon Joseph Vassallo, of Syosset, New York, a stockbroker formerly registered with Legend Securities, Inc., has been named in a customer initiated investment related arbitration claim on May 18, 2016, where the customer sought $750,000.00 in damages based upon allegations that Vassallo charged excessive commissions, churned the customer’s investment portfolio, effected transactions in the that…
Kamran Abrishami, of Staten Island, New York, a stockbroker formerly registered with Santander Securities LLC, has been named in a customer initiated investment related written complaint on April 26, 2016, in which the customer requested $15,983.00 in damages based upon allegations that he failed to inform the customer about tax liabilities that the customer would…
Daniel Edward Peltier, of Edina, Minnesota, a stockbroker formerly registered with RBC Capital Markets, LLC, has been named in a customer initiated investment related written complaint, which settled on May 12, 2016, in which the customer received $45,033.63 in damages based upon allegations that he engaged in sales practice violations with respect to an over-the-counter…
Jesse Joseph Holovacko, of South Amboy, New Jersey, a stockbroker formerly registered with Merrill Lynch, Pierce, Fenner & Smith Incorporated, has been sanctioned by the State of New Jersey Bureau of Securities via a $75,000.00 fine accompanied by the revocation of his securities registration pursuant to a Summary Revocation and Penalty Order containing findings that…
Jon Timothy VanSlooten, of Toledo, Ohio, a stockbroker formerly registered with Edward Jones, has been fined $7,500.00 and suspended for three months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he effected trades in customer accounts without authorization. Letter of Acceptance, Waiver and Consent,…
Kyle P. Harrington, of San Diego, California, a stockbroker formerly registered with National Securities Corporation, has been charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement in a Complaint alleging that he converted a customer’s funds, sold away from his firm, and falsified documentation to FINRA in regard to his activities. Department of Enforcement…
M. Tyler Bonds, of Newport Beach, California, a stockbroker formerly registered with LPL Financial LLC, has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he entered into a loan arrangement with a customer in violation of his firm’s policies….
Rafael Barela Jacinto, of New York, New York, a stockbroker formerly registered with Morgan Stanley Smith Barney, has been fined $10,000.00 and suspended for one year from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity pursuant to an Office of Hearing Officers Decision & Order of Offer of Settlement containing findings…
Joseph Frederick Eschleman, of Sacramento, California, a stockbroker registered with Wells Fargo Clearing Services, LLC, has been terminated from employment on April 26, 2017, based upon allegations that he directed his associate to effect transactions in the account of a deceased customer by claiming that he received permission from the customer to place the transactions….
Kristi Erin Straw, of Overland Park, Kansas, a registered representative formerly associated with CommunityAmerica Financial Solutions, has been named in a customer initiated investment related written complaint on February 17, 2016, in which the customer requested $410,000.00 in damages based upon allegations that Straw effected fixed indexed annuity transactions in the customer’s account that were…
Bernard Joseph Audet, of Newtown Square, Pennsylvania, a registered representative formerly associated with New England Securities, has been named in a customer initiated investment related civil action on April 12, 2017, based upon allegations that he breached his fiduciary duties to the customer and made misrepresentations concerning insurance products. Financial Industry Regulatory Authority (FINRA) Public…
Shawn Allen Stults, of Midland, Texas, a stockbroker formerly registered with Wells Fargo Advisors, has been named in a customer initiated investment related written complaint, which settled on May 24, 2017, for $6,249.91 in damages to resolve allegations that Stults effected transactions in the customer’s account that were not suitable for the customer. Apparently, between…
Richard Anthony Barone, of Cleveland, Ohio, a stockbroker currently registered with America Northcoast Securities, Inc., has been named in a customer initiated investment related arbitration claim on May 17, 2017, in which the customer requested $250,000.00 in damages based upon allegations against Barone including failure to supervise, unauthorized trading, unsuitability, breach of fiduciary duty and…
Demitrios Hallas, of New York, New York, a stockbroker formerly registered with Forefront Capital Markets, LLC, has been charged by the Securities and Exchange Commission (SEC) in a Complaint alleging that he effected fraudulent securities transactions and misappropriated funds from customers. Securities and Exchange Commission v. Demitrios Hallas, 1:17-cv-029991:17-cv-02999 (Apr. 25, 2017). According to the…
Daniel Harry Curkan, of Clearwater, Florida, has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that he did not communicate with FINRA regarding his compliance with the terms and conditions of a customer initiated investment related arbitration settlement or award. Case No. 14-02221 (Apr. 25,…
Allyn Lindley Donaubauer, of Fort Smith, Arizona, a stockbroker currently registered with Raymond James & Associates, Inc., has been named in a customer initiated investment related written complaint on April 24, 2017, in which the customer sought damages estimated at $5,000.00 based upon allegations that from July of 2016 to April of 2017, Donaubauer made…
Philip A. Dina, of Woodbury, New York, a stockbroker formerly registered with Obsidian Financial Group, LLC, has been named in a customer initiated investment related arbitration claim on April 24, 2017, where the customer requested $50,000.00 in damages based upon allegations that he failed to supervise one of the firm’s registered representatives who placed faulty…
Curtis Leroy Whipple, of Plymouth, Michigan, a stockbroker currently registered with Kalos Capital, Inc., has been named in a customer initiated investment related arbitration claim, which settled on March 3, 2017, for $14,999.00 in damages founded upon allegations that he breached his contractual and fiduciary obligations to the customer, and negligently handled the customer’s investment…
Donald John Saccomano, of Westport, Connecticut, a stockbroker formerly registered with Source Capital Group, Inc., has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that he failed to communicate with FINRA’s staff regarding his business activities. Case No. 2015044109301 (Mar. 31, 2017). On January 7,…
John Joseph Tillger Jr., of West Conshohocken, Pennsylvania, a stockbroker formerly registered with CV Brokerage, Inc., has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that he did not respond to FINRA’s request for information in reference to a customer initiated investment related dispute settlement…
Cary Edward Scheer, of Southlake, Texas, a stockbroker formerly registered with Girard Securities, Inc., has been named in a customer initiated investment related arbitration claim on April 24, 2017, in which the customer requested $150,000.00 in damages based upon allegations that Scheer breached his contractual and fiduciary duties to the customer, made investment misrepresentations and…
Christopher Anthony Fernan, of Melville, New York, a stockbroker registered with Salomon Whitney Financial, was terminated from employment on February 17, 2017, based upon allegations that he entered into an unauthorized loan arrangement with a firm customer. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Fernan has been named in three customer initiated investment…
Randy Joe Ryan, of Worthington, Ohio, a stockbroker formerly registered with Ameriprise Financial Services, Inc., has been named in a customer initiated investment related written complaint on April 24, 2017, where the customer requested $5,867.31 in damages based upon allegations that Ryan sold the customer a variable annuity that was not suitable considering the customer’s…
Douglas Joseph Guarino, of Melville, New York, a stockbroker formerly registered with Rockwell Global Capital LLC, has been named in a customer initiated investment related arbitration claim on June 25, 2015, in which the customer requested $205,000.00 in damages based upon allegations of the firm’s failure to supervise Guarino’s activities involving equity transactions effected in…
Curtis Stephen Ridlon, of Bedford, New Hampshire, a registered representative formerly associated with Waddell & Reed, was fined of $3,235,000.00, and disgorged of $1,513,711.09 by The State of New Hampshire Bureau of Securities Regulation pursuant to an Order to Cease and Desist containing findings that he concocted a scheme to defraud investors via the assessment…
Michael Fisher, of Melville, New York, a stockbroker formerly registered with Wells Fargo Advisors, LLC, has been named in a customer initiated investment related written complaint on April 12, 2017, in which the customer requested $171,172.10 in damages based upon allegations that he made misrepresentations to the customer regarding unit investment trusts. This is not…
Thomas Aloysius Skove, of New York, New York, a stockbroker formerly registered with Scotia Capital (USA) Inc., has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he failed to cooperate in an investigation into allegations that he effected fraudulent securities transactions in…
Judy Buchanan Healy, of Melbourne, Florida, a stockbroker formerly registered with Merrill Lynch, Pierce, Fenner & Smith Incorporated, has been fined $25,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that she triggered unauthorized initial public offering transactions. Letter of Acceptance, Waiver and…
Sammy Dexter Legaspi, of Irvine, California, a stockbroker formerly registered with Accelerated Capital Group, has been fined $5,000.00 and suspended for three months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he caused customers’ signed but otherwise blank forms to be utilized in order…
Larry Charles Wolfe, of Boca Raton, Florida, a stockbroker formerly registered with Herbert J. Sims & Co. Inc., has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he effected trades in customer accounts without authorization. Letter of Acceptance, Waiver…
John Charles Piccarreto Jr., of Orrville, Ohio, a stockbroker formerly registered with First American Securities, Inc., has been fined $15,000.00 and suspended for two years from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he engaged in private securities transactions without ever having apprised his firm…
Matthew Clary Smith, of Spartanburg, South Carolina, a stockbroker formerly registered with ProEquities, Inc., has been fined $5,000.00 and suspended for three months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he utilized customer account documentation in an unauthorized manner to effect investment transactions….
Cathy Ione Earnest, of Chicago, Illinois, a stockbroker formerly registered with Pruco Securities, LLC, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that she failed to furnish complete information to FINRA in the course of FINRA’s investigation into allegations of Earnest’s unauthorized…
Donald Lee Stark, of Waterloo, Iowa, a stockbroker currently registered with Stifel, Nicolaus & Company, Incorporated, has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he effected trades in a customer’s account without the customer’s consent. Letter of Acceptance,…
William Francis Gillis, of Seattle, Washington, a stockbroker formerly registered with National Securities Corporation, has been named in a customer initiated investment related written complaint, which settled on May 22, 2017, for $80,000.00 in damages based upon allegations that he breached his fiduciary duties to the customer and negligently handled the customer’s investment account. Financial…
Keith Allen Bryan, of Sarasota, Florida, a stockbroker formerly registered with Morgan Stanley, has been named in a customer initiated investment related arbitration claim on December 13, 2016, where the customer requested $30,968.61 in damages based upon allegations that Bryan, between 2012 and 2016, effected unsuitable stock and municipal bond transactions in the customer’s account…
Tony Kang, of Northbrook, Illinois, a stockbroker formerly registered with Fifth Third Securities, Inc., has been named in a customer initiated investment related arbitration claim, which settled on September 24, 2015, for $10,000.00 in damages based upon allegations that Kang made unsuitable investment recommendations to the customer regarding a unit investment trust product. Financial Industry…
Karl Austin Pettijohn, of Los Angeles, California, a stockbroker registered with J.P. Morgan Securities LLC, has been terminated from employment on April 29, 2016, based upon the firm’s allegations that he inappropriately communicated with customers and entered into unauthorized lending arrangements. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that on April 28, 2017, a…
Andrew Blair Howard, of Grand Rapids, Michigan, a registered representative currently registered with USA Financial Securities, has been named in a customer initiated investment related written complaint on April 21, 2017, in which the customer requested $16,037.78 in damages based upon allegations that Howard failed to abide by the terms and conditions of annuity withdrawals….
Gary Wayne Hammond, of Charlotte, North Carolina, a stockbroker registered with MML Investors Services, LLC, was terminated from employment on April 21, 2017, based upon allegations that he sold away from his firm and violated the firm’s company policies in the handling of a customer initiated investment related complaint. Financial Industry Regulatory Authority (FINRA) Public…
Shawn Evan Burns, of Farmingdale, New York, a stockbroker formerly registered with Salomon Whitney Financial, has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he failed to provide FINRA staff with information about his business activities. Case No. 2017053391601 (June 16, 2017)….
Gerhard Frederick Heuer, of Beaverton, Oregon, a registered representative formerly associated with Thrivent Investment Management Inc., has been named in a customer initiated investment related written complaint, which settled on June 6, 2017, for $43,000.00 in damages based upon allegations that he failed to inform the customer about the premiums required to be paid by…
Kai Chong Cheng of Tenafly, New Jersey, recently signed a consent order with the State of New Jersey agreeing to a five-year suspension from registration in New Jersey. In a related enforcement action, he has been permanently barred from the securities industry by FINRA. Cheng worked at a Merrill Lynch branch office in New York…
In December 2016 the Massachusetts Securities Division filed a complaint against LPL Financial LLC (“LPL”) and one of its advisors, Roger S. Zullo, relating to the unsuitable sales of variable annuities to multiple customers of Zullo and LPL from January 2013 to December 2016. LPL is headquartered in Massachusetts. Zullo worked in Boston, MA. These…
Abed Adam Darwish, of North Royalton, Ohio, a stockbroker formerly registered with Key Investment Services, has been fined $7,500.00 and suspended for eighteen months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he utilized customers’ information without consent to create investment accounts and effected…
Christopher Robert Hickman, of Delray Beach, Florida, a stockbroker formerly registered with Cetera Advisors LLC, has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he effected unsuitable unit investment trust trades in customer accounts. Letter of Acceptance, Waiver and…
Christopher M. Hawn, of Denver, Colorado, a stockbroker formerly registered with SC Distributors, LLC, and ALPS Distributors, Inc., has been fined $10,000.00 and suspended for six months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Hawn, inter alia, engaged in unauthorized outside business activities…
Mark Stewart Saunders, of Monroe City, Missouri, a stockbroker currently registered with Edward Jones, has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he exercised discretion in customer accounts. Letter of Acceptance, Waiver and Consent, No. 2016048658302 (June 9, 2017)….
Michael J. Isaac, of Shrewsbury, Massachusetts, a registered representative formerly registered with Investors Capital Corp., has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he directed a firm customer to provide him with blank and undated forms after they…
Lawrence M. Thomas, of North Attleboro, Massachusetts, a stockbroker formerly registered with Essex Securities LLC, has been fined and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he obstructed a FINRA investigation into allegations that he made improper investment recommendations to customers. Letter…
Blake P. King, of Atlanta, Georgia, a stockbroker formerly registered with Merrill Lynch, Pierce, Fenner & Smith, Inc., has been fined and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that King obstructed a FINRA investigation into allegations that he effected unauthorized trades in…
Marco A. Daniel, of Chula Vista, California, a stockbroker currently registered with PFS Investments Inc., has been suspended from conducting business with California residents in an insurance capacity pursuant to a California Department of Insurance Order containing findings that Daniel was sanctioned by Financial Industry Regulatory Authority (FINRA) for sales practice violations. PLBS 10438-AP (Apr….
John Sebastion Cangialosi, of New York, New York, a stockbroker registered with Worden Capital Management, has been sanctioned by The State of Michigan pursuant to a Stipulation and Order for Withdrawal, wherein Cangialosi agreed not to apply in the state for a securities agent or investment advisor designation due to his unethical and deceitful business…
Stephen James Sullivan, of Garden City, New York, has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he traded in two customers’ investment accounts on a discretionary basis. Letter of Acceptance, Waiver and Consent, No. 2014039219802 (Feb. 3, 2016)….
Raymond Thomas Clark, of Buffalo, New York, a stockbroker formerly registered with Dynasty Capital Partners, Inc., was subject of the revocation of his securities licensure by Financial Industry Regulatory Authority (FINRA) based upon allegations that he did not cooperate with his payment of fines assessed to him by FINRA for committing sales practice violations. Letter…
Gregory William Melendez, of Melville, New York, a stockbroker formerly registered with International Assets Advisory, has been named in a customer initiated investment related arbitration claim on February 16, 2017, in which the customer requested $41,376.00 in damages based upon allegations that he effected unsuitable and unauthorized over-the-counter equity transactions in the customer’s account, and…
Jason John Lenzi, of Beaver, Pennsylvania, a stockbroker formerly registered with The Huntington Investment Company, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that he did not cooperate with FINRA’s request for Lenzi’s information in reference to Lenzi’s business activities. Case No. 2015044007201 (Feb….
Martin David Batstone, of San Diego, California, a stockbroker formerly registered with Independent Financial Group, LLC, has been named in a customer initiated investment related civil action, which settled on January 25, 2017, for $55,000.00 in damages based upon allegations that he failed to appropriately confirm the designation of beneficiaries on the customer’s investment accounts…
Leah Rebecca Bullen, of Walnut Creek, California, a stockbroker registered with Wells Fargo Advisors, LLC, was terminated from employment on January 7, 2016, based upon allegations that she effected a loan arrangement with an investor outside the auspices of her firm, and did not make disclosures to the firm about her involvement in a legal…
Marc Harold Pearl, of Auburn, California, a stockbroker formerly registered with Wells Fargo Advisors, LLC, has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based on allegations that he failed provide FINRA staff with a response to their request for information relating to Pearl’s business activities. Letter No….
William John McBride Jr., of Los Angeles, California, a stockbroker currently registered with JP Morgan Securities LLC, has been named in a customer initiated investment related written complaint on April 20, 2017, in which the customer requested $7,915.95 in damages based upon allegations that McBride made misrepresentations concerning a variable annuity that the customer purchased….
Lawrence James Rizer, of Columbiana, Ohio, a stockbroker formerly registered with NYLife Securities, LLC, has been terminated from employment on April 6, 2017, based upon allegations that he misappropriated funds belonging to the National Association of Insurance and Financial Advisors. Rizer purportedly took the funds for personal gain during the time he was the local…
Jeffrey Marc Grayson, of Florham Park, New Jersey, a stockbroker formerly registered with Wells Fargo Advisors, has been fined $10,000.00 and suspended for two months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he effected trades in customer accounts without authorization. Letter of Acceptance,…
Mack Leon Miller, of New York, New York, a stockbroker registered with Dawson James Securities, Inc., was terminated from employment on April 20, 2017, based upon allegations that he solicited investments from customers in states that he was not licensed. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Miller has been named in three…
Robert Charles Moriarty, of Harvard, Illinois, a stockbroker formerly registered with Investment Professionals, Inc., has been named in a customer initiated investment related written complaint on April 30, 2017, in which the customer requested $100,000.00 in damages based upon allegations that Moriarty failed to apprise the customer about tax obligations resulting from effecting variable annuity…
Richard Paul Donohoe, of Eagle River, Wisconsin, a stockbroker currently registered with Edward Jones, has been named in a customer initiated investment related written complaint on April 20, 2017, wherein the customer requested $5,000.00 in damages based upon allegations that Donohoe provided the customer with poor advice in reference to the liquidation variable annuity products…
James Flower, of Melville, New York, a stockbroker formerly registered with Global Arena Capital Corp., has been suspended for three months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he effected unsuitable exchange traded notes recommendations to customers. Letter of Acceptance, Waiver and Consent,…
Karl Robert Dierman, of Columbus, Nebraska, a stockbroker formerly registered with MML Investors Services, LLC, has been named in a customer initiated investment related civil action, in which the customer requested $39,000.00 in damages based upon allegations that Dierman misappropriated the customer’s funds via forged requests for loans, and effected unauthorized transactions in the customer’s…
Jeffrey Alan Fladell, of West Palm Beach, Florida, a stockbroker currently registered with RBC Capital Markets LLC, has been named in a customer initiated investment related arbitration claim on April 7, 2016, wherein the customer requested more than $5,000.00 in damages based upon allegations that Fladell made unsuitable municipal debt investment recommendations to the customer….
Jodi Ann Reed, of Chicago, Illinois, a stockbroker registered with Stifel, Nicolaus & Company, Inc., was terminated from employment on May 20, 2016, based upon allegations that the firm lost confidence in her following the receipt of two customer initiated investment related disputes pertaining to Reed’s purported sales practice violations. Financial Industry Regulatory Authority (FINRA)…
Nick Eugene Son, of New York, New York, a stockbroker formerly registered with Aegis Capital Corp., has been named in a customer initiated investment related written complaint on December 22, 2016, in which the customer requested $65,984.66 in damages based upon allegations that Son utilized the customer’s margin account without consent, and effected transactions that…
Kim Dee Isaacson, of Salt Lake City, Utah, a stockbroker formerly registered with Morgan Stanley, was charged by Financial Industry Regulatory Authority (FINRA) in a Complaint alleging that Isaacson made omissions and misrepresentations to a firm customer concerning transactions effected in the customer’s account, and traded in a customer’s account without authorization; conduct that FINRA…
Heath Shayne Bowen, of Idaho Falls, Idaho, a stockbroker currently registered with Allegis Investment Services, LLC, has been named in a customer initiated investment related arbitration claim on June 27, 2016, in which the customer requested $400,000.00 in damages based upon allegations that Bowen did not adequately supervise the customer’s investment portfolio, which resulted in…
Mark Emerson Despelder, of Grosse Pointe, Michigan, a stockbroker formerly registered with Citizens Securities, Inc., has been named in a customer initiated investment related arbitration claim on January 6, 2017, in which the customer requested $19,052.90 in damages based upon allegations that Despelder misinformed customers regarding the terms and conditions of variable annuity products, and…
Former Sterne Agee Baton Rouge, LA broker James K. Cox recently submitted a letter of Acceptance, Waiver and Consent (“AWC”) to settle a regulatory investigation with FINRA. In the fall of 2014, Cox, then employed at Sterne Agee, convinced a client to switch from one variable annuity (“VA”) to another. He also had the client…
In early June, FINRA filed a regulatory complaint against former Morgan Stanley broker Kim Dee Issacson. Issacson had worked in Morgan Stanley’s Salt Lake City branch from December 2008 until February 2014. The regulatory complaint is apparently related to a customer arbitration claim filed against Issacson by Keith Melton and seven related entities in 2014…
Craig David Dima of Ronkonkoma, New York settled his regulatory enforcement action with FINRA by agreeing to a permanent bar from the securities industry. The bar is based on Dima’s conduct relating to an account for a 73 year-old retiree which included unauthorized trades, misrepresentations and excessive fees and commissions charged to the elderly client….
The Financial Industry Regulatory Authority or FINRA, and its President and Chief Executive Officer, Robert Cook, recently announced that FINRA is implementing various measures to rein in high-risk brokers and brokerage firms (also referred to as “rogue” brokers and firms). In fact, in recent months, there have been an interesting trend in particularly the New…
Geraldine Gordon, of Lexington, Kentucky, a stockbroker currently registered with Ameriprise Financial Services, has been fined $7,500.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that she made unsuitable investment recommendations to a firm customer. Letter of Acceptance, Waiver and Consent, No. 2016049353501…
Salvatore Sapienza, of Latham, New York, a registered representative formerly registered with Northwestern Mutual Investment Services, LLC, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he failed to provide information to FINRA in the course of an investigation into allegations of…
Paul Wescoe Smith, of Wayne, Pennsylvania, a stockbroker formerly registered with Bolton Global Capital, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he obstructed a FINRA investigation into allegations that he sold away from his firm. Letter of Acceptance, Waiver and…
Kelly G. McClain, of Louisville, Kentucky, a stockbroker currently registered with Fifth Third Securities, Inc., has been named in a customer initiated investment related written complaint on April 19, 2017, in which the customer requested $32,000.00 in damages based upon allegations that she failed to properly explain the terms and conditions of exchange traded fund…
Michael Alexander Hanson, of La Mirada, California, a stockbroker formerly registered with LPL Financial LLC, has been named in a customer initiated investment related arbitration claim on May 5, 2017, in which the customer requested $520,000.00 in damages based upon allegations that he effected unsuitable transactions in the customer’s account concerning inverse levered exchange traded…
Robert Michael Gianchiglia, of Worcester, Massachusetts, a stockbroker formerly registered with Ameritas Investment Corp., has been named in a customer initiated investment related arbitration claim on March 28, 2017, wherein the customer requested $225,000.00 in damages based upon allegations that Gianchiglia effected unauthorized trades in the customer’s account, made misrepresentations to the customer, breached his…
Gabriel Yanez Jr., of Newport Beach, California, a stockbroker formerly registered with Raymond James And Associates, Inc., has been named in a customer initiated investment related arbitration claim on April 12, 2017, in which the customer requested $700,000.00 in damages based upon allegations that Yanez engaged in deceptive trade practices, negligently handled the customer’s investment…
Daniel Ki Roh, of Fort Lee, New Jersey, a stockbroker currently registered with J.P. Morgan Securities LLC, has been named in a customer initiated investment related written complaint on April 18, 2017, in which the customer requested $7,250.00 in damages based upon allegations that he omitted information from the customer concerning the fees on mutual…
Calvin Edward Moores, of Brea, California, a stockbroker formerly registered with Independent Financial Group, LLC, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that he failed to correspond with FINRA staff in reference to information about Moores’ business activities. Letter No. 2015047356601 (Mar. 7,…
Brian Joseph Haney, of Rockville, Maryland, a stockbroker formerly registered with MML Investor Services, LLC, has been terminated from employment on April 17, 2017, based upon allegations that he utilized a third-party document in an unauthorized manner in order to effect a transaction involving one of the firm’s customers. Financial Industry Regulatory Authority (FINRA) Public…
Christopher Russell McNamee, of Miami, Florida, a stockbroker formerly registered with Dakota Securities International, Inc., has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that he failed to provide a response to FINRA staff’s request for information relating to McNamee’s business activities. Letter No. 2013035303302…
Harvey Britton Vaughn Jr., of Austin, Texas, a stockbroker formerly registered with Columbus Advisory Group, Ltd., has been sanctioned by Financial Industry Regulatory Authority (FINRA) via the revocation of his securities licensure based upon allegations that Vaughn failed to pay a $10,000.00 fine assessed to him by FINRA for having failed to make required disclosures;…
Rael Linder, of New York, New York, a stockbroker formerly registered with AXA Advisors, LLC, has been named in a customer initiated investment related written complaint on March 17, 2017, based upon allegations that he effected a life insurance policy that was not suitable for the customer. This is not the first time that Linder…
Bruce Martin Zipper, of Miami, Florida, a stockbroker currently registered with Dakota Securities International, Inc., has been identified in a Financial Industry Regulatory Authority (FINRA) investigation into allegations that he may have violated the terms of a suspension that FINRA imposed upon him for violations of FINRA Rules. Particularly, Zipper was fined and suspended from…
Pasquale James Rappa, of Miller Place, New York, a stockbroker formerly registered with Brookville Capital Partners, has been named in a customer initiated investment related arbitration claim, in which a customer was awarded $44,734.00 in damages on July 29, 2016, based upon allegations that Rappa churned the customer’s account, over-concentrated the customer’s assets and effected…
Scott Jason Hechler, of New York, New York, has been named in a customer initiated investment related arbitration claim, which settled on July 5, 2016, for $24,999.00 in damages based upon allegations that he made misrepresented investment products, churned the customer’s account, and deceived the customer in reference to stock transactions effected in the customer’s…
Elvin J. Lopez, of New York, New York, a stockbroker formerly registered with Brookstone Securities, Inc., has been named in a customer initiated investment related arbitration claim, which settled on April 12, 2017, for $31,276.98 in damages based upon allegations that he made misrepresentations to the customer, breached his fiduciary and contractual duties, negligently managed…
William Terrence Behrens, of Saint Louis, Missouri, a stockbroker formerly registered with Fulcrum Securities, LLC, has been named in a customer initiated investment related arbitration claim on April 10, 2017, in which the customer requested $189,000.00 in damages based upon allegations against Behrens of negligent supervision in reference to the handling of the customer’s investments…
James Travis Flynn, of Greenville, South Carolina, a stockbroker registered with Voya Financial Advisors, Inc., has been terminated from employment on February 10, 2017, based upon allegations that he misled the firm in the course of the firm’s investigation of a complaint that involved Flynn’s activities. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that…
William David Nelson, of New York, New York, a stockbroker formerly registered with Meyers Associates, L.P., has been fined $5,000.00 by the Commissioner of Securities and Insurance, Montana State Auditor, pursuant to a Consent Agreement and Final Order containing findings that Nelson traded excessively in the accounts of three residents of Montana. In the Matter…
Andrey V. Tkatchenko, of New York, New York, a stockbroker formerly registered with Blackbook Capital LLC, has been stripped of his securities licensure with Financial Industry Regulatory Authority (FINRA) based upon allegations that Tkatchenko neglected to pay costs and fines assessed to him by FINRA for committing sales practice violations. Case No. 2011028647101 (Dec. 4,…
Kishan Parikh, of New York, New York, a stockbroker currently registered with Aegis Capital Corp., has been named in a customer initiated investment related arbitration claim on May 11, 2017, in which the customer requested $350,000.00 in damages based upon allegations that Parikh made unsuitable investment recommendations to the customer and effected trades in the…
Roger Wilson Rodas, of Glendale, California, a stockbroker formerly registered with Merrill Lynch, Pierce, Fenner & Smith Incorporated, has been named in a customer initiated investment related written complaint on January 21, 2016, based upon allegations that Rodas made unsuitable investment recommendations to the customer concerning real estate securities and investments offered via a foreign…
Anthony Joseph Verzi, of Melbourne, Florida, a stockbroker formerly registered with Morgan Stanley, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he failed to cooperate in a FINRA investigation into allegations of his unsuitable investment trading activities. Letter of Acceptance, Waiver…
Stephen J. Kaufman, of Freehold, New Jersey, a stockbroker formerly registered with LPL Financial LLC, has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he effected trades in customer accounts without authorization. Letter of Acceptance, Waiver and Consent, No….
James Keith Cox, of Baton Rouge, Louisiana, a stockbroker formerly registered with Sterne, Agee & Leach, Inc., has been fined $10,000.00 and suspended for four months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he made unsuitable investment recommendations to a firm’s customer and…
Securities regulations, and their enforcement, impede capital formation. Must be time for a cocktail party for crowd funding in Harisburg. The Pennsylvania Department of Banking and Securities Bureau of Securities recently completed an investigation and obtained a consent order against of Premier Innovations Group, Inc. , Clique Vodka Ltd. and Noah Cohen. Premier has offices…
On May 24, 2017 David Lerner Associates (“DLA”) signed a consent order with the New Jersey Bureau of Securities involving the company’s sales of non-traded REITs. DLA is a broker-dealer with offices in New York, New Jersey and Boca Raton, Florida. Since 1992, DLA has been the underwriter and sole distributor of 10 Apple non-traded REITs….
Donald Gene Dewaay Jr., of Clive, Iowa, a stockbroker formerly registered with Deeway Financial Network, LLC, has suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that he failed to correspond with FINRA staff regarding his compliance with a customer initiated investment related settlement or arbitration concerning…
John Batista Bocchino, of New York, New York, has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon a FINRA Office of Hearing Officers Order Accepting Offer of Settlement containing findings that Bocchino effected unauthorized trades in customer accounts and caused an assistant of his to…
Brent David Hurt, of Chicago, Illinois, the Chief Compliance Officer of Redridge Securities, Inc., has been fined $10,000.00 and suspended for thirteen months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he inadequately supervised a stockbroker’s private securities offerings. Letter of Acceptance, Waiver and…
Jose J. Perez, of Orland Park, Illinois, a stockbroker formerly registered with MetLife Securities Inc., has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he effected an unauthorized transfer of a customer’s assets. Letter of Acceptance, Waiver and Consent,…
Daniel P. Bailey, of Rochester, New York, a stockbroker formerly registered with Source Capital Group, Inc., has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that made unsuitable securities recommendations to a customer. Letter of Acceptance, Waiver and Consent, No….
Kenneth Alan Zegar, of New York, New York, a stockbroker currently registered with Jeffries LLC, has been fined $30,000.00, stripped of his securities registration, and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he made misrepresentations to customers concerning fixed income securities transactions…
Laurence M. Rothstein, of Cumming, Georgia, a stockbroker formerly registered with Edward Jones, has been fined $10,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he effected unauthorized transactions in customer accounts and entered false customer account information into his firm’s records…
Zena Yofonovich, of Rosemont, Illinois, a stockbroker formerly registered with Pruco Securities, LLC, has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that she entered into an unauthorized agreement to borrow funds from a customer. Letter of Acceptance, Waiver and Consent, No. 1358792…
David Michael Panetta, of Nutley, New Jersey, a registered representative formerly associated with Allstate Financial Services, LLC, has been fined $7,500.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he engaged in outside business activities without his firm’s knowledge, and made false…
Andrew Caspersen, of New York, New York, a stockbroker formerly registered with Park Hill Group, LLC, has been barred by the Securities and Exchange Commission (SEC) from associating with any brokerage firms or investment advisories, or otherwise selling securities or providing investment advice to customers based on an SEC Order Instituting Administrative Proceedings Pursuant to…
Robert Henderson Jr., of Miami Lakes, Florida, a stockbroker currently registered with IFS Securities, has been named in a customer initiated investment related civil action on April 15, 2017, based upon allegations that Henderson breached his fiduciary and trust obligations to the customer, and additionally failed to fulfill his duties concerning the accounting of a…
John Bradford Leonard, of Toledo, Ohio, a stockbroker formerly registered with Wells Fargo Advisors, has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that he failed to respond to a FINRA informational request regarding his activities. Case No. 2016050686801 (Apr. 14, 2017). FINRA Public Disclosure…
Christopher Adam Knutson, of Melville, New York, a stockbroker currently registered with Aegis Capital Corp., has been named in a customer initiated investment related written complaint on April 13, 2016, in which the customer requested $175,000.00 in damages based upon allegations that he made misrepresentations regarding a private placement investment held by the customer between…
Steven Michael Wisniewski, of Boca Raton, Florida, a stockbroker formerly registered with Newbridge Securities Corporation, has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that Wisniewski never corresponded with FINRA regarding his compliance with the terms of a customer initiated investment related dispute settlement or…
Alexandre Santos Leal, of Miami, Florida, a stockbroker formerly registered with Wells Fargo Clearing Services, has been named in a customer initiated investment related written complaint on April 13, 2017, in which the customer requested more than $5,000.00 in damages based upon allegations that during the time Leal was the customer’s financial advisor, he effected…
Sampson Pearson Junior, of Charlotte, North Carolina, a registered representative formerly associated with Northwestern Mutual Investment Services, has been named in a customer initiated investment related written complaint on April 12, 2017, in which the customer requested more than $5,000.00 in damages based upon allegations that he effected unauthorized transactions in the customer’s account. FINRA…
William Christian Gennity, of New York, New York, a stockbroker formerly registered with Alexander Capital, L.P., has been identified in a Securities and Exchange Commission (SEC) Complaint on February 2, 2017, in which the SEC has pursued sanctions against Gennity based upon allegations that he committed fraudulent stock transactions; conduct violative of Securities Act of…
James Edward Bogart, of McLean, Virginia, has been named in a customer initiated investment related written complaint on November 30, 2016, in which the customer requested $25,711.11 in damages based upon allegations that Bogart, between 2015 and 2016, effected transactions in the customer’s managed account that failed to be suitable for the customer. Bogart’s registration…
Marlon O. Cole, of New York, New York, a stockbroker formerly registered with Legend Securities, Inc., has been named in a customer initiated investment related arbitration claim, in which a customer was awarded $80,600.00 on June 16, 2016, based upon allegations that Cole failed to execute the customer’s instructions to sell equity positions after ten…
David James Vigil, of Ponte Vedra Beach, Florida, has been named in a customer initiated investment related arbitration claim on April 24, 2017, in which the customer requested $90,000.00 in damages based upon allegations that Vigil effected unsuitable transactions in the customer’s managed wrap account. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Vigil…
Daniel Lee Pancake, of Reno, Nevada, a stockbroker formerly registered with Calton & Associates, Inc., has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based on allegations that he waffled and did not provide a response to FINRA’s request for information pertaining to Pancake’s business activities. Letter…
Matthew Lee Geiser, of Grand Island, Nebraska, a stockbroker formerly registered with Independent Financial Group, LLC, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Geiser failed to cooperate in an investigation into allegations that he misstated information to customers about variable…
David Eliott Doll, of Los Angeles, California, a stockbroker formerly registered with J.P. Morgan Securities, LLC, has been named in a customer initiated investment related written complaint, which settled on February 8, 2017, for $6,239.65 in damages based upon allegations that he effected equity transactions in the customer’s individual retirement account that were not appropriate…
Theodore Henrickus Franse, of Fair Oaks, California, a stockbroker registered with Independent Financial Group, has been terminated from employment on April 10, 2017, based upon allegations that he utilized customer information in a manner which was prohibited by the firm’s policies. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Franse has been identified in…
Joanna Espasas of Miami, Florida, a stockbroker formerly registered with Popular Securities, LLC, has been named in a customer initiated investment related arbitration claim on December 21, 2015, in which the customer requested $1,173,866.00 in damages based upon allegations that Espasas made unsuitable recommendations to the customer concerning corporate debt and closed-end funds. The customer…
Kevin and Natalie Flynn have filed a FINRA arbitration claim against TD Ameritrade alleging that the firm violated FINRA’s “know your customer” rule, recommended unsuitable investments and failed to supervise its registered persons. The claim alleges $500,000 in losses. Kevin Flynn is a 60-year-old former salesman who suffered spinal damage relating to a car accident…
Edward T. McFarlane, a broker formerly in Oppenheimer’s Jenkintown, Pennsylvania branch office, in a Letter of Acceptance, Waiver & Consent, has agreed to serve a suspension and pay a fine relating the unsuitable Exchange Traded Funds (“ETFs”) he recommended to a customer. Between December 2010 and June 2012 McFarlane recommended 169 unsuitable trades in inverse,…
Robert Neil Tricarico, of Westport, Connecticut, a stockbroker formerly registered with LPL Financial, LLC, has been permanently barred by the Securities and Exchange Commission (SEC) from working as an investment adviser or stockbroker, or associating with any investment adviser or brokerage firm according to an Order Instituting Administrative Proceedings pursuant to Securities Exchange Act of…
Peter Joseph Doyle, of Bethesda, Maryland, a stockbroker registered with Morgan Stanley Smith Barney, was terminated from employment on June 24, 2016, based upon allegations that he traded in customers’ investment accounts in a manner that violated the firm’s procedures and policies. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Doyle has been named…
John Andrew Bodnar, of Burlington, Vermont, a stockbroker registered with Merrill Lynch, Pierce, Fenner & Smith Inc., was terminated from employment on January 9, 2017, based upon allegations that he solicited an unauthorized loan arrangement with one of the firm’s customers. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Bodnar has been named in…
Deane Serfer Rudofker, of Philadelphia, Pennsylvania, a stockbroker registered with Ameriprise Financial Services, Inc., has been terminated from employment based upon allegations that he engaged in communications and solicitations of investments with customers in a manner which violated Ameriprise’s solicitation rules. This is not the first time Rudofker was terminated for misconduct by a brokerage…
David Bruce Drucker, of New York, New York, a stockbroker formerly 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 based upon consenting to findings that he effected unauthorized trades in customer accounts. Letter of Acceptance, Waiver and Consent, No….
Warren Marc Rockmacher, of Trumbull, Connecticut, a stockbroker formerly registered with Investacorp, Inc., has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that he failed to cooperate in a FINRA investigation by declining to provide FINRA with information requested of him. Case No. 2015044980801…
Eugen Velea, of Manasquan, New Jersey, a stockbroker formerly registered with MML Investors Services, LLC, has been named in a customer initiated investment related arbitration claim, which settled on August 1, 2016, for $70,000.00 in damages based upon allegations that Velea induced the customer’s mutual fund purchases by making unsuitable investment recommendations. Financial Industry Regulatory…
John Thomas Lynch, Junior, of Scottsdale, Arizona, a stockbroker formerly registered with Lawson Financial Corporation, was fined $22,338.00 and subject of cease and desist sanctions imposed by the Securities and Exchange Commission (SEC) pursuant to an Order Instituting Administrative Cease and Desist Proceedings Pursuant to Securities Act of 1933 Section 8A, Securities Act of 1934…
Peter Chris Marketos, of Paramus, New Jersey, a stockbroker formerly registered with Raymond James & Associates, Inc., has been named in a customer initiated investment related written complaint on March 2, 2017, in which the customer requested more than $5,000.00 in damages based upon allegations that Marketos, from October of 2014 to February of 2016,…
Kenneth Stewart Tyrrell, of Vienna, Virginia, a stockbroker registered with UBS Financial Services Inc., was terminated from employment on August 8, 2016, based upon allegations that he engaged in private securities transactions and outside business activities without having disclosed them to UBS Financial Services Inc. or retrieving approval from the firm; conduct violative of UBS…
Sylvester King Jr., of Fort Lauderdale, Florida, a stockbroker formerly registered with Wells Fargo Advisors, LLC, was subject of a Securities and Exchange Commission Administrative Order, in which King was ordered to cease and desist from causing future violations of Securities Exchange Act of 1934 Sections 15(a) and 17(a)(1), Rule 17a-4(b)(4), as well as Investment…
James Vernon Regier, of Topeka, Kansas, a stockbroker formerly registered with VSR Financial Services, Inc., has been named in a customer initiated investment related written complaint on July 14, 2016, in which the customer requested $76,642.00 in damages based upon allegations that Regier effected unsuitable transactions in the customer’s account concerning United Development Funding IV….
Michael A. Mahabir, of Monrovia, California, a stockbroker formerly registered with J.P. Morgan Securities LLC, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he failed to cooperate in a FINRA investigation into allegations that he converted customer funds. Letter of Acceptance,…
Terry Craig Sandvold, of Saint Louis Park, Minnesota, a stockbroker currently registered with Questar Capital Corporation, has been named in a customer initiated investment related written complaint on February 12, 2016, in which the customer requested more than $5,000.00 in damages based upon allegations that Sandvold made misrepresentations to the customer concerning the step-up figures…
David Wesley Wells, of Hanover, Pennsylvania, a stockbroker currently registered with Mid Atlantic Capital Corporation, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he failed to cooperate in a FINRA investigation into allegations against him of misappropriation. Letter of Acceptance, Waiver…
James Anthony Nelson, of Evans City, Pennsylvania, a stockbroker formerly registered with LPL Financial LLC, has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity by consenting to findings that he effected unauthorized transactions in customers’ accounts. Letter of Acceptance, Waiver and Consent, No. 2016050825301 (May…
Travis Kent Dillard, of Tucson, Arizona, a stockbroker formerly registered with Morgan Stanley, has been named in two customer initiated investment related arbitration claims on October 28, 2017, in which the customers collectively requested $1,000,000.00 in damages based upon allegations that Dillard, between 2011 and 2015, effected over-the-counter equity transactions in their accounts despite the…
Christopher Stephen Jorgensen, of Setauket, New York, a stockbroker formerly registered with Summit Brokerage Services, Inc., has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he obstructed a FINRA investigation into allegations of his misconduct. Letter of Acceptance, Waiver and Consent, No….
David Todd II, of Kent, Ohio, a stockbroker formerly registered with Stifel, Nicolaus & Company, Inc., has been fined $15,000.00 and suspended for four months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Todd, inter alia, made misleading statements to customers in the course…
James Bradley Schwartz, of Melville, New York, a stockbroker formerly registered with Aegis Capital Corp., has been named in a customer initiated investment related arbitration claim on April 28, 2017, in which the customer requested $269,131.00 in damages based upon allegations that Schwartz, between April of 2014 and May of 2016, breached his fiduciary and…
MSI Financial Services, Inc., a brokerage firm headquartered in Springfield, Massachusetts, has been censured by Financial Industry Regulatory Authority (FINRA) by consenting to findings that excessive fees were charged by the firm within customers’ accounts regarding mutual fund transactions, and that the firm did not appropriately supervise operations to protect customers from being overcharged. Letter…
William Carlson, a former financial advisor with Forum Financial Management, a Chicago area registered investment advisor, has admitted to stealing over $900,000 from a 63-year-old investor by forging her signature on checks drawn on her account. Carlson began his scheme in 2012.The victim had a custodial account that was managed by Carlson and Forum Financial….
Colorado investor, Grace Huitt, has won an arbitration award in excess of $1 million due to misrepresentations made to her by the broker who sold her a variable annuity. Ms. Huitt purchased an ING Landmark variable annuity in 2008. At or before the time of sale, her broker at Wilbanks Securities, Inc., a brokerage firm…
Rebecca L. Gillette, of Brockport, New York, a stockbroker formerly registered with Edward Jones, has been named in a customer initiated investment related written complaint on April 7, 2017, where the customer requested more than $5,000.00 in damages based upon allegations that Gillette poorly advised the customer in regard to the customer’s investment account contributions….
Kim Kerry Love, of Boca Raton, Florida, a stockbroker currently registered with Summit Brokerage Services, Inc., has been named in a customer initiated investment related written complaint on April 4, 2017, in which the customer requested $499,000.00 in damages based upon allegations that Love effected the “unauthorized transfer” of assets from the customer’s trust account….
Michael Barry Goldberg, of Short Hills, New Jersey, a stockbroker currently registered with Morgan Stanley, has been named in a customer initiated investment related written complaint on April 4, 2017, in which the customer requested $33,443.87 in damages based upon allegations that Goldberg effected unit investment trust and mutual fund transactions in the customer’s account…
Minish Joe Hede, of New York, New York, a stockbroker formerly registered with Paulson Investment Company LLC, was terminated from employment on April 28, 2017, based upon allegations that he was uncooperative in the firm’s investigation of a customer initiated investment related arbitration claim, in which the customer’s claim was based upon allegations of fraud….
Timothy John Reed, of Bristow, Washington, a stockbroker formerly registered with SunTrust Investment Services, Inc., has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that he failed to provide a response to FINRA’s informational request. Letter No. 2016049929801 (Apr. 24, 2017). FINRA Public Disclosure also…
James Allen, of Skokie, Illinois, a stockbroker formerly registered with Citigroup Global Markets Inc., was terminated from employment on April 4, 2017, based upon allegations that Allen’s conduct was violative of the firm’s policies as discovered via the firm’s investigation into his client communications and review of Allen’s misstatements of customer account information. Financial Industry…
Jeannette Ann Adcock, of Bloomingdale, Illinois, a stockbroker formerly registered with Wayne Hummer Investments L.L.C., was terminated from employment on April 19, 2017, based upon allegations that she violated the firm’s policy by failing to apprise the firm of a customer initiated investment related complaint. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that on…
Dean Adam Myerow, of Hasbrouck Heights, New Jersey, a stockbroker formerly registered with BB&T Securities, LLC, has been identified in a customer initiated investment related arbitration claim on April 26, 2017, in which the customer requested $125,000.00 in damages based upon allegations that included violation of MSRB and FINRA rules, failure to supervise, breach of…
Jeffrey D. Noard, of Milwaukee, Wisconsin, a stockbroker formerly registered with Allied Beacon Partners, Inc., has been fined and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity pursuant to a National Adjudicatory Council Decision containing findings that he made unsuitable investment recommendations to customers. In the Matter of Department…
Melody Vuicich Kump, of Austin, Texas, a stockbroker currently registered with Raymond James & Associates, Inc., has been named in a customer initiated investment related written complaint on April 4, 2017, in which the customer requested $24,134.00 in damages based upon allegations that Kump, between 2013 and 2017, engaged in sales practice violations and effected…
Glenn Thomas Colangelo, of Salem, Oregon, a stockbroker formerly registered with The O.N. Equity Sales Company, has been named in a customer initiated investment related written complaint, which settled on March 15, 2017, for $300,921.00 in damages based upon allegations that Colangelo failed to act in the customer’s best interest pertaining to the customer’s investment…
Richard Anthony McCollam, of Lafayette, California, a stockbroker formerly registered with National Planning Corporation, has been fined $10,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity pursuant to a FINRA Office of Hearing Officers’ Hearing Panel Decision containing findings that he failed to disclose customer complaints as required…
Daniel M. King, of Melville, New York, a stockbroker formerly registered with Brookville Capital Partners, has been named in a customer initiated investment related arbitration claim on May 1, 2017, in which the customer requested $59,330.70 in damages based upon allegations that he solicited customers’ investments for products they were not suitable for, and led…
James Davis Trent, of Columbia, South Carolina, a stockbroker formerly registered with AXA Advisors LLC, was suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity pursuant to an Order Accepting Offer of Settlement issued by FINRA Office of Hearing Officers which contained findings that Trent made unsuitable investment recommendations to…
Matt Ward, of Santa Monica, California, a stockbroker currently registered with Euro Pacific Capital, Inc., has been named in a customer initiated investment related written complaint on January 6, 2017, in which the customer requested $40,000.00 in damages based upon allegations that Ward, between 2015 and 2016, charged the customer with excessive commissions and effected…
John George Marakas III, of Beverly Hills, California, a stockbroker currently registered with Wells Fargo Clearing Services, LLC, has been named in a customer initiated investment related written complaint on March 11, 2016, in which the customer requested more than $5,000.00 in damages based upon allegations that Marakas failed to abide by the customer’s stop…
Andrew John Logullo, of Los Angeles, California, a stockbroker formerly registered with Ameritas Investment Corp, has been fined $10,000.00 and suspended for six months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Logullo engaged in undisclosed outside business activities and omitted information from his…
Laurence Michael Torres, of Staten Island, New York, a stockbroker formerly registered with First Standard Financial Company LLC, has suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that he did not relay to FINRA that he was compliant with a customer initiated investment related settlement or…
Mary Ann Wise, of New York, New York, a stockbroker formerly registered with Blackbook Capital, LLC, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that she failed to comply with a FINRA investigation into her involvement with another individual FINRA barred for…
Joshua William Patterson, of Houston, Texas, a stockbroker currently registered with IMS Securities, Inc., has been named in a customer initiated investment related arbitration claim on April 7, 2017, in which the customer requested $1,233,805.00 in damages based upon allegations that Patterson breached his contractual and fiduciary duties to the customer, failed to conduct due…
Stephen J. Landa, of Easton, Connecticut, a stockbroker formerly registered with Invest Financial Corporation, has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he effected unsuitable transactions in a customer’s account. Letter of Acceptance, Waiver and Consent, No. 2016049485101…
Ricardo E. Urrutia, of Bronx, New York, a stockbroker formerly registered with J.P. Morgan Securities LLC, has been named in a customer initiated investment related written complaint on January 15, 2016, in which the customer requested $9,496.04 in damages based upon allegations that Urrutia made misrepresentations to the customer concerning a variable annuity product. Financial…
Eugene A. Riggio, of Hawthorne, New York, a stockbroker formerly registered with Wilmington Capital Securities, LLC, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity by consenting to findings that Riggio obstructed a FINRA investigation into allegations that he misappropriated funds. Letter of Acceptance, Waiver and Consent, No….
Felippe Teixeira Alves, of New York, New York, a stockbroker currently registered with National Securities Corporation, has been named in a customer initiated investment related arbitration claim on June 20, 2016, in which the customer requested $5,750,000.00 in damages based upon allegations that Alves effected unauthorized trades, churned the customer’s investment account, made investment based…
Scott Sherwin Polish, of Mentor, Ohio, a stockbroker formerly registered with Wells Fargo Clearing Services, LLC, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity by consenting to findings that he obstructed a FINRA investigation into allegations that Polish converted customer funds. Letter of Acceptance, Waiver and Consent,…
Alonza Barnett Junior, of Greensboro, North Carolina, has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon his failure to provide FINRA staff with information about his activities. Letter No. 2017053125201 (Mar. 9, 2017). Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Barnett has been identified…
David Alan Lavine, of Houston, Texas, a stockbroker formerly registered with UBS Financial Services Inc., has been fined and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon his failure to confirm with FINRA staff that he was compliant with a settlement agreement or customer initiated investment related…
Christopher S. Laws, of Roswell, Georgia, a stockbroker formerly registered with LPL Financial LLC, was named in a Securities and Exchange Commission (SEC) investigation on January 15, 2016, in which the SEC is examining allegations that Laws, inter alia, failed to disclose that the brokerage firm he worked for was not government affiliated when dealing…
Raymond John Pirrello Junior, of Hackensack, New Jersey, a stockbroker formerly registered with Garden State Securities, has been fined and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon his failure to provide FINRA staff with information about his activities. Letter No. 2016050071901 (July 11, 2016). Financial Industry…
Robert Anthony Guidicipietro, of Holmdel, New Jersey, a stockbroker currently registered with Aegis Capital Corp., has been named in a customer initiated investment related arbitration claim on March 1, 2017, where the customer requested $250,000.00 in damages based upon allegations that Guidicipietro breached his fiduciary duties, made unsuitable investment recommendations and misrepresentations to the customers,…
Teryl Lee Trenchard, of Reston, Virginia, a stockbroker formerly registered with Capital Securities Management, Inc., has been identified in a Financial Industry Regulatory Authority (FINRA) investigation on March 10, 2017, wherein FINRA is examining alleged fraudulent activities of Trenchard. Trenchard was terminated by Capital Securities Management on March 10, 2017, based upon allegations that he…
Jonathan Spencer Williams, of Timonium, Maryland, a stockbroker formerly registered with NYLife Securities LLC, has been named in a customer initiated investment related written complaint on February 6, 2017, in which the customer requested $37,901.22 in damages based upon allegations that Williams effected transactions in the customer’s account that may not have been authorized. Financial…
Daniel P. Reilly, of New York, New York, a stockbroker formerly registered with Merrill Lynch, Pierce, Fenner & Smith Incorporated, has been named in a customer initiated investment related written complaint, which settled on January 25, 2017, for $16,727.00 in damages based upon allegations that he effected unauthorized mutual fund trades in the customer’s account….
Frank Harmon Black, of Charlotte, North Carolina, owner of Southeast Investments, N.C., Inc., has been fined $170,000.00 and barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based on an Extended Hearing Panel Decision containing findings that he failed to supervise the firm’s business operations in a manner which was…
Anastasios P. Belesis, of New York, New York, a stockbroker formerly registered with John Thomas Financial, has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that he failed to notify FINRA concerning his compliance with a customer initiated investment related arbitration award or a settlement…
Jeffrey Alan Hill, of Bemidji, Minnesota, a stockbroker formerly registered with Wells Fargo Advisors, was sanctioned by Financial Industry Regulatory Authority (FINRA), in which his securities registration was revoked by FINRA for failing to fulfill his payment of fines and disgorgement associated with a prior FINRA disciplinary action against him. Letter No. 2015047008703 (Mar. 17,…
James Emory Poe, of Forth Worth, Texas, an operator and joint owner of Jim Poe & Associates, Inc., was subject of sanctions including an undertaking, revocation, and cease and desist imposed by the State of Texas Securities Board pursuant to a Disciplinary Order containing allegations that he, inter alia, charged excessive fund management fees, omitted…
William Bartly Wolf, of Newark, New Jersey, a stockbroker formerly registered with Merrill Lynch, Pierce, Fenner & Smith Incorporated, has been named in a customer initiated investment related written complaint on September 2, 2015, based upon allegations that Wolf effected mutual fund trades in the customer’s investment account without the customer’s consent. Financial Industry Regulatory…
Stephen Brown, of Pittsford, New York, a stockbroker formerly registered with Merrill Lynch, Pierce, Fenner & Smith, Inc., was charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement in a Complaint based upon allegations that he, inter alia, engaged in private securities transactions and outside business activities without disclosing them to his firm. Department…
Charles Alan Correal, of Upper Saint Clair, Pennsylvania, a stockbroker formerly registered with Morgan Stanley Smith Barney, has been named in a customer initiated investment related arbitration claim on April 20, 2017, in which the customer requested $22,600.00 in damages based upon allegations that Correal effected unsuitable stock transactions in the customer’s account. Financial Industry…
Voigt C. Kempson, of Sparta, New Jersey, a stockbroker formerly registered with Commonwealth Financial Network, has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he effected unauthorized transactions in a customer’s account. Letter of Acceptance, Waiver and Consent, No….
Cetera Advisor Networks LLC, a brokerage firm headquartered in El Segundo, California, has been censured by Financial Industry Regulatory Authority (FINRA) based upon consenting to findings that the firm charged customers with excessive fees in reference to mutual fund transactions, and inadequately supervised its business operations to make sure customers were not overcharged. Letter of…
Brant Andrew Ray, of Southaven, Mississippi, a stockbroker formerly registered with Commonwealth Financial Network, has been charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement in a Complaint alleging that Ray engaged in an unauthorized borrowing arrangement with a customer of the firm. Department of Enforcement v. Brant Andrew Ray, No. 2015047096601 (May 1,…
William H. McWilliams, of Jefferson City, Missouri, a stockbroker formerly registered with Raymond James Financial Services, Inc., has been fined $7,500.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he effected transactions in customer accounts that were not authorized by customers. Letter…
Richard L. Brown, of Farmingdale, New York, a stockbroker formerly registered with Arive Capital Markets, has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that Brown failed to apprise FINRA staff of his compliance with a settlement agreement or customer initiated arbitration claim. Letter No….
Joshua Gottlieb, of Woodland Hills, California, a registered representative with Benefit Funding Services, LLC, has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he obstructed a FINRA investigation into allegations that he sold away from his firm. Letter of Acceptance, Waiver…
Joseph Manuel Focil, of Santa Monica, California, a stockbroker formerly registered with Wells Fargo Advisors, LLC, has been named in a customer initiated investment related written complaint on January 6, 2016, in which the customer requested more than $5,000.00 in damages based upon allegations that Focil failed to execute the sale of the customer’s equity…
Joseph C. Farah, of Irvine, California, a stockbroker formerly registered with Gold Coast Securities, Inc., has been charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement in a Complaint alleging that Farah excessively traded and churned a customer’s investment account. Department of Enforcement v. Joseph C. Farah, No. 2014041432401 (May. 8, 2017). According to…
Craig Gary Langweiler of Newton, Pennsylvania, a stockbroker formerly registered with Summit Brokerage Services, Inc., was named in a Financial Industry Regulatory Authority (FINRA) Wells Notice, which indicated that a disciplinary action against Langweiler had been recommended by FINRA. Wells Notice No. 20140403477 (May. 1, 2017). The Notice indicated that from December of 2011 to…
Wayne Frederick Slattery Jr., of New York City, New York, a stockbroker formerly registered with MetLife Securities Inc., has been named in a customer initiated investment related written complaint on April 4, 2016, in which the customer’s damages are estimated to exceed $5,000.00 based upon allegations that Slattery induced the customer’s purchase of a variable…
Mark Joseph Glattly, of Beverly Hills, California, a stockbroker formerly registered with TD Ameritrade, Inc., has been named in a customer initiated investment related arbitration claim on January 30, 2017, in which the customer requested $855,000.00 in damages based upon allegations that the options strategy Glattly recommended was unsuitable for the customer. Financial Industry Regulatory…
Ronald D. Broadstone, of New Albany, Ohio, a stockbroker formerly registered with UBS Financial Services, Inc., has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he failed to comply with a FINRA investigation request concerning allegations of Broadstone misappropriating customer funds. Letter…
Kyusun Kim, of San Diego, California, a stockbroker formerly registered with Independent Financial Group, LLC, has been named in a customer initiated investment related arbitration claim on March 7, 2017, where the customer requested $350,000.00 in damages based upon allegations that Kim violated federal and state securities laws, breached his contractual and fiduciary duties, and…
William Madison Swayne II, of Seattle, Washington, a stockbroker formerly registered with Pacific West Securities, Inc., has been named in a customer initiated investment related arbitration claim, in which a customer was awarded $1,134,911.49 in damages on November 16, 2016, based upon allegations that Swayne made misrepresentations and omissions to the customer, and negligently handled…
Jeffrey L. Scheibner, of Irvine, California, a registered representative formerly associated with Accelerated Capital Group, has been fined $5,000.00 and suspended for three months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he effected trades in customer accounts without authorization. Letter of Acceptance, Waiver…
Jose Ramon Gonzalez, of Chicago, Illinois, a stockbroker formerly registered with American Trust Investment Services, Inc., has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he did not participate in a FINRA investigation into allegations of excessive trades having been effected in…
Jonathan M. Lo, of New York, New York, a stockbroker formerly registered with NYLife Securities LLC, has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he failed to cooperate with a FINRA investigation into allegations that he effected unsuitable exchanges of…
Jeffrey Timothy Kluge, of Saint Paul, Minnesota, a stockbroker currently registered with Merrill Lynch, Pierce, Fenner & Smith Incorporated, has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that he failed to provide FINRA staff with information concerning his activities. Letter No. 2016052377201 (Apr. 10,…
Robert Hayes Hoffman, of Greenwood, Indiana, a stockbroker formerly registered with Woodbury Financial Services, Inc., has been named in a customer initiated investment related arbitration claim on April 17, 2017, in which the customer requested $3,200,000.00 in damages based upon allegations that Hoffman sold away from his firm, churned the customer’s account, and effected unauthorized…
Scott Allen Sibley, of Fort Lauderdale, Florida, a stockbroker formerly registered with Raymond James & Associates, Inc., has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Sibley, inter alia, made unsuitable investment recommendations to customers, traded in customer accounts without authorization,…
Jeffrey Thomas Rathmanner, a stockbroker registered with Merrill Lynch, Pierce, Fenner & Smith Incorporated, has been terminated from employment on April 5, 2017, based upon allegations that Rathmanner made representations to others on behalf of Merrill Lynch which the firm had not authorized. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that on March 16,…
Robert Daniel Witt, of Libertyville, Illinois, a stockbroker registered with Voya Financial Advisors, Inc., has been terminated from employment on October 14, 2016, based upon the firm’s allegations that transactions were effected by Witt in a customer account despite the customer never having provided Witt with authorization. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals…
Gregory Walter McCloskey, of Irvine, California, a stockbroker formerly registered with Newport Coast Securities, has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he sold away from his firm. Letter of Acceptance, Waiver and Consent, No. 2015044037901 (May. 1,…
Summit Equities, Inc., a brokerage firm headquartered in Parsippany, New Jersey, has been censured and fined $325,000.00 by Financial Industry Regulatory Authority (FINRA) based upon consenting to findings that the firm did not adequately supervise registered representatives’ private securities transactions as well as recommendations of variable annuity share classes. Letter of Acceptance, Waiver and Consent,…
James Davis Trent, of Columbia, South Carolina, a stockbroker formerly registered with AXA Advisors LLC, was charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement in a Complaint containing allegations that he made unsuitable investment recommendations to customers. Department of Enforcement v. James Davis Trent, No. 2014041539301 (Apr. 27, 2017). According to the Complaint,…
Baris Dincer, of New York, New York, a stockbroker formerly registered with Revere Securities LLC, has been named in a customer initiated investment related written complaint on June 1, 2016, in which the customer requested $45,000.00 in damages based upon allegations that Dincer effected unauthorized corporate debt transactions in the customer’s account. Financial Industry Regulatory…
Pamela Lynn Kourtakis, of Dana Point, California, a stockbroker formerly registered with J.P. Morgan Securities LLC, has been named in a customer initiated investment related written complaint on September 8, 2016, in which the customer requested $5,835.18 in damages based upon allegations that Kourtakis effected the purchase of a variable annuity contract that was not…
Ann Marie Comcowich, of Scranton, Pennsylvania, a registered representative formerly associated with Prudential Investment Management Services LLC, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that she failed to cooperate in a FINRA investigation into allegations of her unauthorized customer account withdrawals….
Steven Kent Quinly, of Walnut Creek, California, a stockbroker currently registered with Merrill Lynch, Pierce, Fenner & Smith Incorporated, has been named in a customer initiated investment related arbitration claim on February 21, 2017, in which the customer requested $116,000.00 in damages based upon allegations that Quinly made unsuitable investment recommendations to the customer as…
Andoni Yturralde, of New York, New York, a stockbroker registered with deVere USA Inc., has been terminated from employment on January 27, 2017, based upon allegations that Yturralde failed to cooperate with the procedures and policies of the firm, failed to effect trades in accordance with a customer’s instructions, and effected unauthorized equity transactions in…
Greg D. Templeton, of New York, New York, a stockbroker formerly registered with Oppenheimer & Co., Inc., has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he obstructed a FINRA investigation into allegations of his sales practice violations and “mishandling” of…
Garrett Andrew Ahrens, of Lafayette, Louisiana, a stockbroker formerly registered with LPL Financial, LLC, has been named in a customer initiated investment related written complaint on October 22, 2015, in which the customer requested damages estimated to be greater than $5,000.00 based upon allegations that Ahrens effected the unsuitable switch of policies issued by Navy…
The Guiliano Law Group has filed an FINRA Arbitration action against G.F. Investment Services LLC based upon the conduct of Richard Walker Lunn Martin, or Richard W. Martin, the chief of gloom and doom, and speculative moron that invested the accounts of virtually all his customers in highly risky inverse and/or leveraged ETF securities. Martin…
Markos John Pappas, of Houston, Texas, a stockbroker formerly registered with Edward Jones, has been named in a customer initiated investment related written complaint on August 4, 2016, in which the customer requested $5,000.00 in damages based upon allegations that Pappas effected the unsuitable purchase of the customer’s immediate annuity issued by Mass Retiree Choice….
Arthur J. Smithee Junior, of Orem, Utah, a stockbroker formerly registered with LPL Financial LLC, has been fined $10,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he engaged in unapproved outside business activities and sold securities to customers outside the auspices…
Unfortunately, for what is a substantial percentage of claimants who win arbitration awards against their brokers and/or their brokerage firm, FINRA has declined to address an all to common situation that investors face – that of unpaid arbitration awards. Last week, FINRA’s governing board failed to significantly address the problem of unpaid arbitration awards that…
Patrick Churchville, president of a Rhode Island investment advisor, was sentenced to seven years in federal prison in March of this year relating to a Ponzi scheme he operated since 2010. Churchville was president of ClearPath Wealth Management, LLC. In 2015 the SEC filed a civil complaint alleging that Churchville and ClearPath diverted investor deposits…
Wallace Martin Giakas, of Little Silver, New Jersey, a stockbroker formerly registered with Buckman, Buckman & Reid, Inc., has been named in a customer initiated investment related civil action on August 3, 2015, in which the customer requested more than $15,000.00 in damages based upon allegations that Giakas induced the customer’s private placement investment based…
Lynn Grossman, of Westport, Connecticut, a stockbroker formerly registered with Wells Fargo Advisors, has been named in a customer initiated investment related arbitration claim on March 30, 2017, in which the customer requested $168,000.00 in damages based upon allegations that Grossman made misrepresentations and unsuitable recommendations to the customer concerning a variable annuity that the…
Andrew Bennett Kramer, of Brooklyn, New York, a stockbroker formerly registered with Capital Securities Management, Inc., has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he failed to cooperate in a FINRA investigation into allegations of Kramer’s wrongdoing referenced in a customer…
Hossein Amirriahei, of Los Angeles, California, a stockbroker formerly registered with Wells Fargo Advisors, LLC, has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that she failed to cooperate in an investigation into allegations of her unauthorized trading in customer accounts. Letter…
Neil Palazzo, of Syosset, New York, a stockbroker formerly registered with David Lerner and Associates, Inc., has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he effected transactions in customer accounts without authorization. Letter of Acceptance, Waiver and Consent,…
Eric Alan Zakarin, of Westfield, New Jersey, a stockbroker formerly registered with Wells Fargo Advisors, has been named in a customer initiated investment related written complaint, which settled on June 28, 2016, for $3,719.53 in damages based upon allegations that Zakarin effected unauthorized mutual fund transactions in the customer’s account. Financial Industry Regulatory Authority (FINRA)…
Jay Martin Chapler, of New York, New York, a stockbroker formerly registered with Silver Leaf Partners, LLC, has been fined $22,500.00 and suspended for four months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Chapler, inter alia, took part in outside business activities that…
Walter Marino, of Bohemia, New York, a stockbroker formerly registered with Legend Equities Corporation, was charged by Financial Industry Regulatory Authority (FINRA) in a Complaint alleging that he made unsuitable investment recommendations to customers and misrepresented the source of customer funds used to purchase investments. Department of Enforcement v. Walter Marino, No. 2015046537501 (Apr. 24,…
Jay Martin Chapler, of New York, New York, a stockbroker formerly registered with Silver Leaf Partners, LLC, has been fined $22,500.00 and suspended for four months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Chapler, inter alia, took part in outside business activities that…
Bahram Mirhashemi, of Artesia, California, a stockbroker formerly registered with Ameriprise Financial Services, has been named in a customer initiated investment related arbitration claim, which settled on April 10, 2017, for $85,000.00 in damages based upon allegations that Mirhashemi mishandled the customer’s investment account, and effected equity trades in the customer’s account on an excessive…
David Steven Rasdolsky, of Reston, Virginia, a stockbroker formerly registered with Merrill Lynch, Pierce, Fenner & Smith Inc., has been named in a customer initiated investment related written complaint on July 29, 2015, based upon allegations that he made unsuitable investment recommendations to the customer concerning mutual funds, and omitted facts concerning the fees pertaining…
Richard William Lunn Martin of Miami, Florida, a stockbroker formerly registered with G.F. Investment Services, LLC, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon an Order Accepting Offer of Settlement issued by FINRA Office of Hearing Officers, which contained findings that Martin, inter alia, made unsuitable…
Howard Jay Rubin, of Murrieta, California, a stockbroker formerly registered with MetLife Securities, Inc., has been named in a customer initiated investment related written complaint on March 24, 2016, in which the customer’s damages are estimated to exceed $5,000.00, based upon allegations that Rubin made unsuitable investment recommendations to the customer concerning equity indexed annuity…
Thomas Damian McKenzie, a stockbroker formerly registered with MSI Financial Services, Inc., has been named in a customer initiated investment related written complaint on January 3, 2017, in which the customer requested $6,114.00 in damages based upon allegations that McKenzie failed to execute the customer’s instructions concerning the reallocation of sub-accounts in the customer’s variable…
Leon Edward Dixon, of Miami, Florida, a registered representative formerly associated with AXA Advisors, LLC, has been fined $7,500.00 and suspended for five months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Dixon, inter alia, engaged in unauthorized private securities transactions. Letter of Acceptance,…
Thomas John Trea, of Newtown Square, Pennsylvania, a stockbroker formerly registered with MSI Financial Services, Inc., has been named in a customer initiated investment related written complaint on August 5, 2015, based upon allegations that Trea induced the customer’s variable annuity purchase based upon Trea’s misrepresentations. Financial Industry Regulatory Authority (FINRA) Public Disclosure also reveals…
Angelina Ozlem Todurge, of Palm Beach, Florida, a stockbroker formerly registered with J.P. Morgan Securities LLC, has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that she obstructed a FINRA investigation into allegations that she converted funds. Letter of Acceptance, Waiver and…
David Jay Homan, of Bay City, Michigan, a stockbroker formerly registered with Wells Fargo Advisors, LLC, has been named in a customer initiated investment related arbitration claim, which settled on April 6, 2016, for $206,500.00 in damages based upon allegations that Homan misappropriated funds during the period in which he was trustee of the customer’s…
Scott Andrew Valentine, a stockbroker formerly registered with Capital One Investing, LLC, has been named in a customer initiated investment related written complaint on March 27, 2017, in which the customer requested damages estimated to exceed $5,000.00 based upon allegations that Valentine effected the unsuitable purchase of the customer’s variable annuity. Valentine’s registration with Capital…
Peyton Nelson Jackson, of New York, New York, a stockbroker formerly registered with Alexander Capital, L.P., and Legend Securities, Inc., has been charged by Financial Industry Regulatory Authority in a Complaint which alleges that Jackson failed to cooperate in a FINRA investigation into allegations that he effected fraudulent transactions in customer accounts. Department of Enforcement…
David K. Stone, of Action, Massachusetts, a stockbroker formerly registered with Liberty Tree Advisors, LLC, has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any principal capacity based upon consenting to findings that he failed to supervise a firm representative’s private securities transactions. Letter of Acceptance, Waiver…
Andrew Scott Corbman, of Lansdowne, Virginia, a stockbroker formerly registered with Kovack Securities, Inc., has been named in a customer initiated investment related arbitration claim, which settled on April 20, 2017, for $100,000.00 in damages based upon allegations including breach of contract and unsuitability pertaining to the customer’s stock purchases. Financial Industry Regulatory Authority (FINRA)…
Raul Enrique Jacobs, of Orland Park, Illinois, a stockbroker formerly registered with Waddell & Reed, has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after failing to provide FINRA with information concerning his activities. Letter No. 2016050202901 (Feb. 14, 2017). FINRA later sanctioned Jacobs for failing to…
Aileen Eppig, of Hauppauge, New York, a stockbroker formerly registered with Stifel, Nicolaus & Company, Inc., has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that she failed to cooperate in a FINRA investigation into allegations that she engaged in unauthorized loan arrangements…
William Cambell Webb, of Panama City, Florida, a stockbroker formerly registered with Raymond James Financial Services, has been fined $15,000.00 and suspended for eighteen months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he engaged in outside business activities and unauthorized loan arrangements with…
John Edward Olinghouse, of Sparks, Nevada, a stockbroker formerly registered with HD Vest Investment Services, has been fined $15,000.00 and suspended for one year from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity, based upon consenting to findings that he fabricated customer account documentation. Letter of Acceptance, Waiver and Consent, No….
Allan Montalbano, of Westbury, New York, a stockbroker formerly registered with National Securities Corporation, has been named in a customer initiated investment related arbitration claim, which settled on March 31, 2017, for $15,000.00 in damages based upon allegations that Montalbano breached his contractual duties, made misrepresentations to the customer, breached his fiduciary obligations, and violated…
Garden State Securities, Inc., a brokerage firm headquartered in Red Bank, New Jersey, was censured and fined by Financial Industry Regulatory Authority (FINRA) based upon consenting to findings that the firm, inter alia, failed to supervise its exchange traded fund business. Letter of Acceptance, Waiver and Consent, https://securitiesarbitrations.com//inverse-leveraged-etf-funds/No. 2013035131702 (Apr. 12, 2017). According to the AWC,…
Caffe Aldo Lamberti is one of my favorite restaurants in all of South Jersey. So my wife and I were rather excited when we received a “Special Invitation” in the mail for a “Complimentary Evening of Fine Dining” at our favorite restaurant, while at the same time we would learn about the “latest strategies to lower…
Demitrios Hallas, a former registered representative of Forefront Capital Markets and and PHX Financial was charged today by the United States Securities & Exchange Commission with the violation of the antifraud provisions of the federal securities laws in connection with the recommendation and sale of unsuitable securities. United States Securities & Exchange Commission v. Hallas,…
John Columbia, of Garden City, New York, a stockbroker formerly registered with Woodstock Financial Group, has been named in a customer initiated investment related arbitration claim, which settled on August 30, 2016, for $60,500.00 in damages based upon allegations that Columbia made misrepresentations to the customer, breached his contractual obligations, negligently handled the customer’s portfolio,…
Michael Salvatore Stanton, a former branch office manager and director of capital markets for Legend Securities, Inc., has been charged in a Complaint by Financial Industry Regulatory Authority (FINRA) Department of Enforcement containing allegations that Stanton failed to supervise a registered representative who defrauded a disabled, blind and elderly investor. Department of Enforcement v. Michael…
James Joseph Beaupre, of Boulder, Colorado, a stockbroker currently registered with Wells Fargo Advisors, has been named in a customer initiated investment related written complaint on March 21, 2017, in which the customer requested $10,000.00 in damages based upon allegations that Beaupre failed to provide the customer with accurate information concerning the fees and administration…
Todd Karl Osgood, of Tampa, Florida, a stockbroker currently registered with Ameriprise Financial Services, Inc., has been named in a customer initiated investment related written complaint on March 22, 2017, in which customers requested $11,488.00 in damages based upon allegations that Osgood effected an unauthorized withdrawal from the customers’ variable annuity issued by the firm’s…
Richard G. Cody, of Spring Lake, New Jersey, a stockbroker formerly registered Concorde Investment Services, LLC, was charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement in a Complaint alleging that he obstructed a FINRA investigation into allegations of his business activities which occurred while his FINRA securities registration was suspended. Department of Enforcement…
Daniel James Lauletta, of Valley View, Ohio, a stockbroker formerly registered with Cetera Advisor Networks LLC, has been named in a customer initiated investment related civil action on February 18, 2015, in which the customer requested $455,000.00 in damages based upon allegations that Lauletta breached his contractual duties to the customer, and engaged in negligent…
Dominick & Dominick LLC, a brokerage firm headquartered in New York, New York, was censured and fined $20,000.00 by Financial Industry Regulatory Authority (FINRA) based upon consenting to findings that the firm, inter alia, charged excessive commissions to customers. Letter of Acceptance, Waiver and Consent, No. 2014041218901 (Apr. 7, 2017). According to the AWC, between…
Kenneth Sydney Kaufman, of White Plains, New York, a stockbroker formerly registered with David Lerner Associates, Inc., has been named in a customer initiated investment related written complaint on June 10, 2015, based upon allegations that Kaufman made misrepresentations to the customer concerning real estate securities effected in the customer’s account. Financial Industry Regulatory Authority…
Sherman Thomas Felix, of Garden City, New York, a stockbroker formerly registered with Spartan Capital Securities, LLC, has been named in a customer initiated investment related arbitration claim on November 12, 2015, in which the customer requested $31,711.00 in damages based upon allegations that Felix made unsuitable recommendations to the customer concerning stock investments, where…
Darren C. Goodrich, of El Segundo, California, a stockbroker and market maker formerly registered with BMA Securities LLC, has been barred by the Securities and Exchange Commission (SEC) from acting as an investment adviser, broker or associating with entities which sell securities or offer advice to the investor public according to an Order Instituting Administrative…
Scott Kevin Erickson, of Athens, Georgia, a stockbroker formerly registered with Raymond James Financial Services, Inc., has been named in a customer initiated investment related written complaint on March 24, 2017, in which the customer requested $8,000.00 in damages based upon allegations that Erickson, in his capacity as the customer’s financial advisor, effected unauthorized mutual…
James Anthony Nelson, of Evans City, Pennsylvania, a stockbroker formerly registered with LPL Financial, LLC, has been named in a customer initiated investment related written complaint on June 6, 2016, in which the customer requested more than $5,000.00 in damages based upon allegations that Nelson, from 2014 to 2016, made misrepresentations to the customer concerning…
John William Rafal, of Essex Connecticut, former president and chief executive officer of Essex Financial Services, Inc., has been barred by the Securities and Exchange Commission (SEC) from acting as an investment adviser, broker or associating with entities that sell securities or advise the investor public according to an Order Instituting Administrative Proceedings Pursuant to…
Mikael C. Lee, of San Mateo, California, a stockbroker formerly registered with Wells Fargo Advisors, has been named in a customer initiated investment related written complaint on December 27, 2016, in which the customer requested more than $5,000.00 in damages based upon allegations that Lee misrepresented the terms of investments effected in the customer’s account,…
Shimshon Plotkin, of Chevy Chase, Maryland, a stockbroker currently registered with Independent Financial Group, LLC, has been named in a customer initiated investment related arbitration claim on June 20, 2016, in which the customer requested $1,000,000.00 in damages based upon allegations that Plotkin effected unsuitable transactions in the customer’s account, breached his fiduciary and contractual…
Donald Lee Wells, of Seattle, Washington, a stockbroker currently registered with Titan Securities of Addison Texas (CRD No. 131392), has been fined $2,500.00 and subject of cease-and-desist sanctions pursuant to a Consent Order issued by the State of Washington Department of Financial Institutions Securities Division based upon allegations that Wells, inter alia, violated the Securities…
Melissa Lynne Maxwell, of Pepper Pike, Ohio, a stockbroker formerly registered with The Huntington Investment Company, has been named in a customer initiated investment related written complaint on January 29, 2015, in which the customer requested $6,642.25 in damages based upon allegations that Maxwell made misrepresentations to the customer concerning the penalties associated with the…
David Anthony Kamm, of Saint Augustine, Florida, a stockbroker formerly registered with Raymond James & Associates, Inc., has been named in a customer initiated investment related written complaint, which settled on June 23, 2016, for $150,000.00 in damages based upon allegations that from May 29, 2013, to February 29, 2016, Kamm effected unsuitable over-the-counter equity…
Howard Deen Richards, of Plymouth, Minnesota, a stockbroker formerly registered with NFP Advisor Services, has been barred by the Securities and Exchange Commission (SEC) from acting as an investment adviser, broker or associating with entities which sell securities or offer advice to the investor public pursuant to an Order Instituting Administrative Proceedings Pursuant to Sections…
Christopher Paul Scalese, of Dunmore, Pennsylvania, a stockbroker associated with Kestra Investment Services, LLC, has been named in a customer initiated investment related arbitration claim on January 10, 2017, in which the customer requested $1,326,000.00 in damages based upon allegations that Scalese made misrepresentations and unsuitable recommendations to the customer, and effected unsuitable real estate…
William Scholander, of New York, New York, a stockbroker formerly associated with Radnor Research & Trading Company LLC, has been barred by the Securities and Exchange Commission (SEC) from acting as an investment adviser, broker or associating with entities which sell securities or offer advice to the investor public based upon an Order Instituting Administrative…
Amy Elizabeth Elias, of Jersey City, New Jersey, a stockbroker formerly registered with E*Trade Securities LLC, has been named in a customer initiated investment related arbitration claim, in which the customer was awarded $10,000.00 in damages on April 14, 2016, based upon allegations that Elias effected unsuitable government debt transactions in the customer’s account, breached…
Mark A. Sutherland, of Moosic, Pennsylvania, a broker formerly registered with MSI Financial Services Inc, has been named in a customer initiated investment related written complaint on September 28, 2015, based upon allegations that Sutherland made misrepresentations to the customer concerning a variable annuity transaction which had been purchased by the customer in February of…
UBS Financial Services, Inc., a broker-dealer headquartered in New York, New York, has been censured and disgorged of $8,227,566.00 plus interest by the Securities and Exchange Commission (SEC) pursuant to an Order Instituting Administrative Proceedings Pursuant to Section 15(b)(4) of the Securities Exchange Act of 1934 and UBS Financial Services, Inc.’s Offer of Settlement, which…
The Guiliano Law Group is investigating claims on behalf of investors involving Paul Wescoe Smith formerly associated with Bolton Global Capital in Wayne, Pennsylvania in connection with the sale of the unregistered securities of the Haverford Group. On February 2, 2016, according to FINRA Public Disclosure Records, Smith was discharged or terminated by Bolton Global…
David A. Tufts, of New York, New York, a stockbroker formerly registered with Oppenheimer & Co. Inc., has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he failed to provide recorded testimony in a FINRA investigation into allegation of his supervisory misconduct….
Robert J. Murray, of New York, New York, a stockbroker formerly registered with Spartan Capital Securities LLC, has been named in a customer initiated investment related arbitration claim on December 22, 2016, in which the customer requested $374,839.00 in damages based upon allegations that Murray converted the customer’s funds, effected unsuitable and excessive over-the-counter equity…
Lori C. Weaver, of Renton Washington, a stockbroker formerly registered with Ameriprise Financial Services, Inc., has been named in a customer initiated investment related arbitration claim on March 22, 2017, in which the customer requested $70,000.00 in damages based upon allegations that Weaver effected unsuitable and illiquid real estate investment trust transactions in the customer’s…
Legend Equities Corporation, a brokerage firm headquartered in Delaware, was censured by Financial Industry Regulatory Authority (FINRA) based upon consenting to findings that the firm took advantage of charitable entities and retirement plan customers by overcharging them in mutual fund transactions. Letter of Acceptance, Waiver and Consent, No. 2016050259801 (Apr. 4, 2017). According to the…
Wendy B. Feldman, and Peter Joseph Doyle, of Washington, District of Columbia, stockbrokers registered with Morgan Stanley Smith Barney, have been terminated from employment on June 24, 2016, based upon allegations that they violated their firm’s procedures and additionally failed to comply with regulatory rules pertaining to exercising discretion in customer accounts. Financial Industry Regulatory…
Michael Alan Siegel, of Edison, New Jersey, a stockbroker formerly registered with National Securities Corporation, has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon his failure to provide a response to FINRA staff’s information request. Letter No. 2016050346301 (Oct. 28, 2016). FINRA Public Disclosure reveals…
William Ferrell Albin, of Las Vegas, Nevada, a stockbroker registered with Waddell & Reed, Inc., has been terminated from employment on July 21, 2016, based upon allegations that he violated policies of the firm by exercising discretion in customer accounts without the customers’ written authorization. This is not the first time that Albin has been…
Mark Schklar, of New Woodstock, New York, stockbroker formerly registered with BB&T Securities, LLC, has been fined $10,000.00 and suspended for eight months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he sold away from his firm. Letter of Acceptance, Waiver and Consent, No….
Georgraphicly challenged Mid Atlantic Capital Corporation, a FINRA member brokerage firm headquartered in Pittsburgh, Pennsylvania, has been named in a customer initiated investment related arbitration claim, in which customers were collectively awarded $922,466.00 in damages based upon allegations of negligence, failure to supervise, breach of contract, unsuitability, misrepresentations and omissions, breach of fiduciary duty, and…
Renee Rochelle Fields, of Manchester, Missouri, a stockbroker formerly registered with Ameriprise Financial Services, Inc., was terminated from employment on October 3, 2016, based upon allegations that Fields exercised discretion in customers’ accounts without their consent, effected a mutual fund trading strategy which was unsuitable for customers, and failed to apprise customers of material information…
Becky Vee Halphin, of North Kansas City, Missouri, a stockbroker formerly registered with General Securities Corp., has been barred from registering as a broker-dealer representative or investment adviser representative in the State of Missouri based upon a Missouri Commissioner of Securities Consent Order containing findings that she engaged in unethical and dishonest business activities. In…
Tracy Rae Turner, of Carlsbad, California, a stockbroker formerly associated with Colorado Financial Service Corporation, has been fined $272,879.04 and barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon a FINRA Office of Hearing Officers Default Decision containing findings that Turner effected unauthorized private securities transactions and made…
John Sherman Bixby, of Lincoln, Nebraska, a stockbroker registered with Ameritas Investment Corp., was terminated from employment on June 15, 2016, based upon allegations that he engaged in sales practices and communications with customers in a manner which violated Ameritas’ procedures and policies. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that on October 25,…
The Investment Center, headquartered in Bedminster, New Jersey, was reprimanded and fined $50,000.00 by Texas State Securities Board pursuant to a Consent Order containing findings that the firm failed to supervise a registered representative’s activities, which consisted of making unsuitable investment recommendations to customers. In the Matter of The Dealer Registration of The Investment Center,…
Thomas Benjamin Carreras, of West Palm Beach, Florida, a stockbroker currently registered with Ameritas Investment Corp., has been named in a customer initiated investment related arbitration claim, which settled on February 27, 2017, for $8,500.00 in damages based upon allegations that Carreras transacted in the customer’s account in a negligent fashion, breached his fiduciary and…
Douglas Lee Hodges, a stockbroker currently registered with Hilltop Securities Inc. and Hilltop Securities Independent Network Inc., has been subject of investigation conducted by Financial Industry Regulatory Authority (FINRA) into allegations that from April of 2012 to March of 2014, Hodges failed to supervise a registered representative’s activities involving unit investment trust and mutual fund…
Andrew Raymond Scheirer II, of Lake Mary, Florida, a stockbroker formerly registered with First Allied Securities, has been named in a customer initiated investment related arbitration claim, which settled on July 18, 2016, for $30,000.00 in damages based upon allegations that Scheirer defrauded the customer, breached his contractual duties, and effected private equity transactions in…
David Khezri, of Holbrook, New York, a stockbroker formerly registered with Cape Securities, Inc. has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he effected unauthorized trades in customer accounts. Letter of Acceptance, Waiver and Consent, No. 2015044589701 (Sept….
Michael Daniel Shaw, of Baton Rouge, Louisiana, a stockbroker formerly registered with VSR Financial Services, Inc., has been named in a customer initiated investment related arbitration claim, in which customers were collectively awarded $307,000.00 in damages on February 4, 2016, based upon allegations that Shaw breached his fiduciary and contractual duties to the customers, negligently…
Legend Securities Inc., a former New York based brokerage firm whose license was cancelled by Financial Industry Regulatory Authority (FINRA) in January of 2017, was fined $300,000.00 by the Securities Commissioner of South Carolina based upon an Administrative Order containing findings that the firm charged customers with fees which were not reasonable, made unsuitable investment…
William Stafford Thurmond, of El Paso, Texas, a stockbroker formerly registered with EDI Financial, Inc., has been named in a customer initiated investment related arbitration claim, where the customer was awarded $212,731.00 in damages on January 20, 2016, based upon allegations that Thurmond breached his fiduciary obligations to the customer, effected trades which were neither…
Garden State Securities, Inc., a brokerage firm headquartered in Red Bank, New Jersey, has been named in a customer initiated investment related arbitration claim, in which the customer was awarded $142,168.00 in damages on July 5, 2016. The customer’s claim was based upon allegations that the firm breached its fiduciary and contractual duties to the…
GWN Securities, Inc., a brokerage firm headquartered in Palm Beach Gardens, Florida, has been fined $20,000.00 by Florida Office of Financial Regulation based upon consenting to findings that the firm failed to discover that its registered representatives had engaged in outside business activities, utilized advertising materials that had not been approved by firm principals, and…
Anthony David Scott Sr., of Downers Grove, Illinois, a stockbroker formerly registered with MSI Financial Services, Inc. has been named in a customer initiated investment related written complaint on February 8, 2017, in which the customer requested more than $5,000.00 in damages based upon allegations that Scott failed to abide by the customer’s instructions concerning…
David L. Sheppard, of New York, New York, a stockbroker formerly registered with Aegis Capital Corp., has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he obstructed a FINRA investigation into allegations of his sales practice violations. Letter of Acceptance, Waiver and…
Brian J. Mocogni, of East Providence, Rhode Island, a stockbroker formerly registered with MetLife Securities, Inc., has been named in a customer initiated investment related written complaint on March 10, 2016, in which the customer requested more than $5,000.00 in damages based upon allegations that Mocogni made misrepresentations to the customer concerning a variable annuity…
Darrell Eugene Masters, of Cincinnati, Ohio, a stockbroker currently registered with Cambridge Investment Research, Inc., has been named in a customer initiated investment related written complaint on January 25, 2017, in which the customer requested $41,663.08 in damages based upon allegations that Masters failed to disclose the risks pertaining to direct participation programs or limited…
Joseph Alan Likens, of Des Peres, Missouri, a stockbroker formerly registered with LPL Financial LLC, has been named in a customer initiated investment related arbitration claim, which settled on March 20, 2017, for $92,000.00 in damages based upon allegations that Likens made unsuitable investment recommendations and misrepresentations to the customer, and sold securities to the…
Peyton Nelson Jackson, of New York, New York, has been subject of an investigation conducted by Financial Industry Regulatory Authority (FINRA), in which FINRA has determined that Jackson be disciplined for failing to provide information and documentation to FINRA staff in reference to allegations of his alleged wrongdoing and failing to appear before FINRA staff…
Susan Lavon Welo, of Mayville, North Dakota, a stockbroker formerly registered with Cetera Advisor Networks LLC, has been named in a customer initiated investment related written complaint on February 24, 2017, in which the customer requested $45,000.00 in damages based upon allegations that Welo failed to abide by the customer’s instructions to invest in short…
Mamta Rai, a stockbroker formerly registered with Valic Financial Advisors, Inc., has been named in a customer initiated investment related written complaint on April 27, 2016, in which the customer requested $45,000.00 in damages based upon allegations that Rai misrepresented the returns that the customer would be guaranteed pursuant to her variable annuity investment. Financial…
Lloyd Henry Dotson, of New Canaan, Connecticut, a stockbroker formerly registered with Commonwealth Financial Network, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he failed to cooperate in a FINRA investigation into allegations that he engaged in outside business activities without…
James Yan-Sin Lee, of San Francisco, California, a stockbroker currently registered with J.P. Morgan Securities LLC, has been named in a customer initiated investment related written complaint on January 16, 2016, in which the customer requested $19,026.75 in damages based upon allegations that Lee made unsuitable investment recommendations to the customer concerning investments effected in…
Christopher D. Stoddard, of Norwell, Massachusetts, a stockbroker registered with Wells Fargo Advisors, LLC, was terminated from employment on November 23, 2016, based upon allegations of his conduct which coincided with Stoddard’s September 16, 2016 termination from his former employer, Morgan Stanley. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Stoddard has been named…
Edward Lonnie Dover III, of Winter Park, Florida, a stockbroker formerly registered with SunTrust Investment Services, Inc., was terminated from employment on September 20, 2016, based upon allegations that he violated his firm’s procedures and policies concerning the handling of a customer’s fixed annuity transaction. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Dover…
John Amador Blakezuniga of Irvine, California, a stockbroker formerly registered with Vanguard Capital, has been fined $25,000.00 and suspended for twenty-two months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he made unsuitable investment recommendations to customers, falsified compliance documents, and entered into unauthorized borrowing…
Neal Charles Moon, and Natalie E. Fogiel Moon, of Dallas, Texas, stockbrokers formerly registered with Waddell & Reed, have been sanctioned by Financial Industry Regulatory Authority (FINRA) pursuant to an Office of Hearing Officers Order Accepting Offer of Settlement containing findings that the Moons, inter alia, engaged in private securities transactions. Department of Enforcement v….
John Christopher Oldham, of Wautoma, Wisconsin, a stockbroker formerly registered with NFB Financial Group, LLC, has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he engaged in an unauthorized commission sharing agreement with an unregistered institution, and caused the…
Clay Emerson Hoffman, of Brunswick, Georgia, a stockbroker formerly registered with Summit Brokerage Services, Inc., has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon a FINRA Office of Hearing Officers Default Decision and Order containing findings that he obstructed an investigation into allegations that Hoffman…
Jeffrey Paul Davis, of Wethersfield, Connecticut, a stockbroker formerly registered with Harvest Capital LLC, has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he made unsuitable investment recommendations to firm customers. Letter of Acceptance, Waiver and Consent, No. 2013039456301 (Apr….
Matthew Park Best, of Shippenville, Pennsylvania, a stockbroker currently registered with Ameriprise Financial Services, Inc., has been named in a customer initiated investment related written complaint on February 16, 2017, in which the customer requested $32,546.00 in damages based upon allegations that Best made faulty assurances to the customer concerning payments that the customer would…
Lance Jeffrey Ziesemer, of Wayzata, Minnesota, a stockbroker formerly registered with Feltl & Company, has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that Ziesemer failed to provide a response to FINRA personnel’s information request. Letter No. 2016049847001 (Sept. 26, 2016). Ziesemer was previously…
Sherman Marcel White, of Park Forest, Illinois, a stockbroker formerly registered with U.S. Bancorp Investments, Inc., has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that White did not provide a response to FINRA personnel’s information request as required. Letter No. 2016051595401 (Feb. 27, 2017)….
Dallas Dan George, of Franklin, Tennessee, a stockbroker currently registered with AXA Advisors, LLC, has been named in a customer initiated investment related written complaint on February 27, 2017, based upon allegations that George failed to apprise the customer of the fees pertaining to the customer’s variable annuity purchase. Financial Industry Regulatory Authority (FINRA) Public…
Keith Matthew Smith, of Mountain Top, Pennsylvania, a stockbroker currently registered with Signator Investors, Inc., has been named in a customer initiated investment related written complaint on February 27, 2017, based upon allegations that Smith made unsuitable recommendations to the customer concerning an investment in a fixed annuity. Financial Industry Regulatory Authority (FINRA) Public Disclosure…
Brian Kenneth Court, of Melville, New York, a stockbroker currently registered with Aegis Capital Corp., has been named in a customer initiated investment related written complaint on February 24, 2017, in which the customer requested $65,451.00 in damages based upon allegations that Court, from June of 2015 to November of 2016, churned the customer’s account,…
Joel Matthew Price, of Gig Harbor, Washington, a stockbroker formerly registered with RP Capital LLC, has been named in a customer initiated investment related arbitration claim on August 31, 2016, in which the customer requested $158,491.00 in damages based upon allegations that Price made unsuitable investment recommendations to the customer, failed to conduct due diligence…
Joseph C. Farah, of Irvine, California, a stockbroker formerly registered with Gold Coast Securities, Inc., has been named in a Financial Industry Regulatory Authority (FINRA) investigation, wherein FINRA recommended disciplinary action to be taken against Farah based upon allegations that Farah potentially violated Securities Exchange Act of 1934 Section 10(b), SEC Rule 10b-5, FINRA Rules…
Robert Andrew Kahn, of Creve Coeur, Missouri, a stockbroker formerly registered with Edward Jones, was terminated from employment on September 15, 2016, based upon the firm’s allegations that Kahn committed violations of Edward Jones’ policies by engaging in discretionary trading in customer accounts, and effecting stock trades in customer accounts on an excessive basis. Financial…
Gregory John Chachas Jr., of La Jolla, California, a stockbroker registered with Wells Fargo Clearing Services, LLC, was terminated from employment on February 2, 2017, based upon allegations that he violated his firm’s policies by failing to report conflicts of interest to his firm in reference to Chachas’ securities transactions. Financial Industry Regulatory Authority (FINRA)…
Citizens Securities, Inc., a brokerage firm headquartered in Dedham, Massachusetts, was censured and fined $50,000.00 by Financial Industry Regulatory Authority (FINRA) based upon consenting to findings that the firm overcharged charitable entities and retirement plan customers in reference to mutual fund transactions. Letter of Acceptance, Waiver and Consent, No. 2016049977401 (Mar. 31, 2017). According to the…
Kenneth Leopold Williams, of Staten Island, New York, a stockbroker formerly registered with First Standard Financial Company LLC, has been named in a customer initiated investment related written complaint on January 5, 2017, in which the customer requested $100,000.00 in damages based upon allegations that Williams utilized the customer’s margin without consent, and effected unauthorized…
Ryan Hilary Riley, of Okemos, Michigan, a stockbroker currently registered with J.P. Morgan Securities LLC, has been named in a customer initiated investment related written complaint on February 22, 2017, in which the customer alleged more than $5,000.00 in damages based upon allegations that Riley made misrepresentations to the customer regarding an investment in a…
Joan Katherine Norton, of Woburn, Massachusetts, a stockbroker formerly registered with Ausdal Financial Partners, Inc., has been named in a regulatory investigation being conducted by Financial Industry Regulatory Authority (FINRA) in regard to Norton’s potential violations of FINRA Rules 2010, 2310, and NASD Rule 3110. According to FINRA Public Disclosure, Norton may have made unsuitable…
Arismendy Abreu, of New York, New York, a stockbroker formerly registered with E.J. Sterling, LLC, has been named in a customer initiated investment related arbitration claim on December 20, 2015, in which the customer requested $50,000.00 in damages based upon allegations that Abreu made misrepresentations to the customer, effected unsuitable stock and mutual fund transactions,…
Mark Christopher Hotton, of New York, New York, a stockbroker formerly registered with Ladenburg, Thalmann & Co., Inc., has been named in a customer initiated investment related arbitration claim on April 20, 2016, in which the customer requested $736,000.00 in damages based upon allegations that he breached his contractual duties, violated New Jersey Uniform Securities…
Robert Philip DePalo, of Greenwich, Connecticut, a former chief executive officer of McBarron Capital, LLC, has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that DePalo failed to provide a response to FINRA pursuant to an information request. Letter No. 2015044211102 (Aug. 4, 2016)….
Joral Townsend Schmalle, of Berkeley, California, a stockbroker currently registered with Sigma Financial Corporation, has been named in a customer initiated investment related arbitration claim on June 6, 2016, in which the customers requested $1,600,000.00 in damages based upon allegations that Sigma did not reasonably supervise Schmalle’s activities and inadequately performed due diligence on the…
Deborah Dickson Kelley, of San Francisco, California, a stockbroker formerly registered with Stifel Nicolaus & Company, Inc., has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that she obstructed an investigation into allegations that she provided unauthorized gifts to a public pension portfolio…
Joshua Forry, of Wilmington, North Carolina, a registered representative with NYLife Securities LLC, has been named in a customer initiated investment related complaint, which settled on March 6, 2017, for $5,854.89 in damages based upon allegations that Forry made poor recommendations to the customer concerning the replacement of the customer’s variable life insurance policy. Guiliano…
Jimmy Dale Mullins, of Fort Worth, Texas, a stockbroker currently registered with Cambridge Investment Research, Inc., has been named in a customer initiated investment related written complaint on February 21, 2017, based upon allegations that Mullins failed to disclose the illiquidity pertaining to a real estate security effected in the customer’s account. Financial Industry Regulatory…
Gregory Harold Zastrow, of Plymouth, Wisconsin, a registered representative formerly associated with Bankers Life and Casualty Company, was fined $10,000.00 and suspended for nine months by the State of Wisconsin Office of the Commissioner of Insurance based upon consenting to findings that he engaged in unfair marketing practices concerning fixed annuities and life insurance products,…
Jarred M. Lawson, of Jacksonville, Florida, a stockbroker formerly registered with Merrill Lynch, Pierce, Fenner & Smith Incorporated, has been fined $10,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he made misrepresentations and omissions to customers, and furnished misleading account documentation…
Steven Roland Knuttila, of Perham, Minnesota, a stockbroker currently registered with Capital Financial Services, Inc., has been named in a customer initiated investment related arbitration claim on February 20, 2017, in which the customer requested $139,722.14 in damages based upon allegations that Knuttila made unsuitable investment recommendations to the customer concerning investments in real estate,…
Corinne Renae Mittag, of Omaha, Nebraska, a stockbroker formerly registered with BancWest Investment Services Inc., has been charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement in a Complaint alleging that she effected an unauthorized transaction in a customer’s account and made false representations to her firm regarding the transaction. Department of Enforcement v….
Peter N. Girgis, of Staten Island, New York, a stockbroker formerly registered with Joseph Gunnar & Co., LLC, has been named in a customer initiated investment related arbitration claim on May 5, 2016, in which the customer requested $687,000.00 in damages based upon allegations that Girgis misappropriated funds from the customer, effected unauthorized and unsuitable…
Brent Spicuzza, of Chesterfield, Missouri, a stockbroker formerly registered with AXA Advisors, LLC, has been named in a customer initiated investment related written complaint on March 21, 2016, based upon allegations that Spicuzza made unsuitable investment recommendations to the customer concerning the purchase of energy sector mutual funds. Financial Industry Regulatory Authority (FINRA) Public Disclosure…
Robert James Hudson, of Essex Junction, Vermont, a stockbroker formerly registered with VSR Financial Services, Inc., has been named in a customer initiated investment related written complaint on February 14, 2017, in which the customer requested $250,000.00 in damages based upon allegations that Hudson caused the customer to incur significant tax burdens via the liquidation…
Norman Kirby Farra, Junior, of Tampa, Florida, a stockbroker formerly registered with International Assets Advisory, LLC, has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he failed to cooperate in a FINRA investigation into allegations of his involvement in undisclosed private…
James Davis Henderson, of Jamestown, New Jersey, a stockbroker currently registered with Investacorp, Inc., has been named in a customer initiated investment related written complaint on February 13, 2017, in which the customer requested $16,864.60 in damages based upon allegations that Henderson effected the unauthorized distribution of Franklin Templeton mutual funds from the customer’s investment…
Christopher John Frattini, of Hoboken, New Jersey, a stockbroker formerly registered with John Carris Investments LLC, has been named in a customer initiated investment related arbitration claim, which settled on February 3, 2016, for $6,500.00 in damages based upon allegations that Frattini effected equity transactions in the customer’s account which were not suitable for the…
Jay Dee Jordan, of Oklahoma City, Oklahoma, a stockbroker formerly registered with WFG Investments, Inc., has been named in a customer initiated investment related written complaint on December 28, 2016, in which the customer requested $88,000.00 in damages based upon allegations that Jordan effected unsuitable stock transactions in the customer’s account. Financial Industry Regulatory Authority…
Robert Mark Star, of Bluffton, South Carolina, a stockbroker formerly registered with EDI Financial, Inc., has been named in a customer initiated investment related arbitration claim on May 12, 2016, in which the customer requested $640,800.00 in damages based upon allegations that Star overconcentrated the customer’s investment portfolio in private placements, and made unsuitable investment…
Hilary Joseph Zimmerman, of Ridgeland, Mississippi, has been fined and permanently barred in all capacities which require securities registration by the Securities Division of the Mississippi Secretary of State based upon consenting to findings that altered the account documentation of customers, and failed to act in customers’ best interests in reference to customers’ exchange traded…
Shane Timothy Ennis, a stockbroker currently registered with Janney Montgomery Scott LLC, has been named in a customer initiated investment related written complaint on February 9, 2017, in which the customer’s damages are estimated to be in excess of $5,000.00 based upon allegations that Ennis effected shoddy equity transactions in the customer’s account, and failed…
David Ladin, of Pembroke Pines, Florida, a stockbroker formerly registered with Allstate Financial Services, has been fined $10,000.00 and suspended for four months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he engaged in outside business activities and entered into loan arrangements without authorization…
Joseph Hsioh-Tsuei Lee, of Irvine, California, a stockbroker formerly registered with Cetera Investment Services LLC, has been named in a customer initiated investment related written complaint on February 8, 2017, in which the customer requested $40,000.00 in damages based upon allegations that Lee made misrepresentations and omissions to the customer regarding the fees pertaining to…
Jacob Glick, of Scottsdale, Arizona, a stockbroker formerly registered with J.P. Morgan Securities LLC, has been named in a customer initiated investment related written complaint on February 8, 2016, in which the customer requested $30,000.00 in damages based upon allegations that Glick made misrepresentations to the customer concerning investments in mutual funds. Financial Industry Regulatory…
Louis Anthony Pepe, of Melville, New York, a stockbroker currently registered with Capital Securities Management, Inc., has been named in a customer initiated investment related written complaint on February 7, 2017, based upon allegations that Pepe failed to adjust the customer’s investment strategy in light of the customer’s constant stock losses. Financial Industry Regulatory Authority…
Nick Morgan Campbell, of Irving, Texas, a stockbroker with Raymond James Financial Services, Inc., was terminated from employment based upon allegations that Campbell committed violations of Raymond James’ policies and procedures. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Campbell has been identified in three customer initiated investment related disputes containing allegations of his…
Mark David Yadron, of Prescott, Arizona, a stockbroker currently registered with Merrill Lynch, Pierce, Fenner & Smith Incorporated, has been named in a customer initiated investment related written complaint on February 3, 2017, in which the customer requested $5,095.35 in damages based upon allegations that Yadron effected unauthorized closed-end fund trades in the customer’s investment…
Nina Sue Jessee, of Abingdon, Virginia, a stockbroker formerly registered with Investors Capital Corp., has been named in a customer initiated investment related arbitration claim on February 3, 2017, based upon allegations that Jessee effected unsuitable transactions in the customer’s account regarding investments in real estate, insurance, and equipment leasing products. Financial Industry Regulatory Authority…
TGP Securities, Inc., a brokerage firm headquartered in Summit, New Jersey, has been censured and fined $10,000.00 by Financial Industry Regulatory Authority (FINRA) based upon consenting to findings that the firm failed to appropriately supervise private securities transactions effected by two of the firm’s registered representatives. Letter of Acceptance, Waiver and Consent, No. 2015043159502 (Mar….
George Russel Thoreson, of Bellevue, Washington, a stockbroker formerly registered with Wells Fargo Advisors, LLC, has been named in a customer initiated investment related arbitration claim on February 1, 2017, in which the customer requested $453,886.65 in damages based upon allegations that Thoreson made unsuitable stock recommendations to the customer. Financial Industry Regulatory Authority (FINRA)…
Jesse Lee Starr, of San Diego, California, a stockbroker formerly registered with Lucia Securities, LLC, has been named in a customer initiated investment related civil action on January 27, 2017, based upon allegations that Starr made misrepresentations to the customer concerning risks of a recommended investment strategy, effected unsuitable direct investment program transactions in the…
Richard Jay Bernstein, of Beverly Hills, California, a stockbroker formerly registered with Morgan Stanley, has been named in a customer initiated investment related arbitration claim on February 1, 2017, in which the customer requested $81,738.82 in damages based upon allegations that Bernstein placed unsuitable and unauthorized equity trades in the customer’s investment account. Financial Industry Regulatory…
James Gilbert Blair, of Coronado, California, a stockbroker currently registered with Raymond James Financial Services, Inc., has been named in a customer initiated investment related arbitration claim on February 1, 2017, in which the customer requested $300,000.00 in damages based upon allegations that Blair effected unauthorized and unsuitable over-the-counter equities transactions in the customer’s account,…
Frank Anthony Spadaro, of Mineola, New York, a stockbroker currently registered with Joseph Stone Capital L.L.C., has been named in a Notice of Proposed Agency Action and Opportunity for Hearing by the Office of the Commissioner of Securities and Insurance, Montana State Auditor, in which Spadaro was alleged to have utilized customers’ margin accounts in…
Shahida Arunima Hossain, a stockbroker formerly registered with Wells Fargo Clearing Services, LLC, has been named in a customer initiated investment related written complaint on February 24, 2017, based upon allegations that Hossain invested the customer’s assets in a manner which exceeded the customer’s conservative investment objectives, and utilized margin in the customer’s investment account…
Ian Charles Kass, of Fort Lauderdale, Florida, a stockbroker formerly registered with Wilson-Davis & Co., Inc., has been identified in a Securities and Exchange Commission (SEC) Order Instituting Administrative and Cease-And Desist Proceedings based upon allegations that Kass aided and abetted securities fraud and facilitated the sale of unregistered securities. In the Matter of Delaney…
Carl Wayne Busch, of Oklahoma City, Oklahoma, a stockbroker currently registered with WFG Investments, Inc., has been named in a customer initiated investment related arbitration claim on January 3, 2017, in which the customer requested $50,000.00 in damages based upon allegations that Busch failed to conduct adequate due diligence in reference to the customer’s convertible…
Kevin Richard Graetz, of New York, New York, a stockbroker currently registered with Paulson Investment Company LLC, has been named in a customer initiated investment related written complaint on December 22, 2016, in which the customer requested $1,000,000.00 in damages based upon allegations that Graetz sold away from his firm, and made fraudulent omissions and…
Rhonda Janeen Matthews, of Austin, Texas, a stockbroker formerly registered with Prospera Financial Services, Inc., has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based on allegations that she failed to provide FINRA with a response to FINRA personnel’s information request. Letter No. 2015048158201 (Sept. 19, 2016)….
Charles Chamberlin Shafe, of Maitland, Florida, a stockbroker formerly registered with Transam Securities, Inc., has been named in a customer initiated investment related written complaint on February 7, 2017, in which the customer requested $15,597.00 in damages based upon allegations that Shafe was responsible for the customer’s poor investment performance on a real estate security…
Hallmark Investments, Inc., a broker-dealer headquartered in New York, New York, along with the firm’s chief executive officer, Steven G. Dash, president, Stephen P. Zipkin, and sales supervisor, William H. Coons, were charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement in a Complaint containing allegations of excessive mark-ups and unregistered securities sales. Department…
Lek Securities Corporation, a broker-dealer headquartered in New York, New York, along with the firm’s chief executive officer and part-owner, Samuel Lek, and former registered representative, Sergey Pustelnik, has been charged by the Securities and Exchange Commission (SEC) in a Complaint containing allegations that the firm, Lek and Pustelnik engaged in a market manipulation scheme…
Christopher Lee Vazquez, of Middle Village, New York, a stockbroker formerly registered with LPL Financial LLC, has been named in a customer initiated investment related arbitration claim on January 24, 2017, in which the customer requested $25,000.00 in damages based upon allegations that Vazquez made investment related misrepresentations to the customer and effected a John…
John Scott Jaeger, of West Des Moines, Iowa, a stockbroker formerly registered with Ameritas Investment Corp, has been named in a customer initiated investment related written complaint on January 23, 2017, in which the customer requested $27,145.00 in damages based upon allegations that Jaeger effected an unsuitable real estate investment trust transaction in the customer’s…
Jeffrey David Day, of Sarasota, Florida, a stockbroker currently registered with Wells Fargo Advisors Financial Network, LLC, has been named in a customer initiated investment related written complaint on January 23, 2017, based upon allegations that Day made guarantees to the customer regarding the performance of a variable annuity investment, and failed to disclose fees…
Jason Hunter Likens, of Orlando, Florida, a stockbroker formerly registered with International Assets Advisory, LLC, has been terminated from employment on January 31, 2017, based upon allegations that he failed to provide FINRA personnel with a response to FINRA’s request for information, which the firm claimed was conduct violative of FINRA Rule 8210. Likens was…
Matthew Aaron Bell, of San Antonio, Texas, a stockbroker formerly registered with WFG Investments, Inc., has been named in a customer initiated investment related written complaint, which settled on February 10, 2017, for $43,000.00 in damages based upon allegations that Bell made unsuitable investment recommendations to the customer regarding over-the-counter equity products. Financial Industry Regulatory…
John Ezmat, of Verona, New Jersey, has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member based upon allegations that he failed to provide FINRA personnel with a response to FINRA’s information request. Letter No. 2016049344101 (Oct. 17, 2016). Why FINRA wanted to speak with Mr. Ezmat, one never knows. It…
David Sanford James, of Century City, California, a stockbroker formerly registered with UBS Financial Services Inc., has been named in a customer initiated investment related written complaint on November 18, 2016, based upon allegations that James, from January of 2016 to August of 2016, breached his fiduciary duties and overcharged the customer in reference to…
John Joseph Stapleton, of Uniondale, New York, a stockbroker formerly registered with Craig Scott Capital, has been named in a customer initiated investment related arbitration claim on January 3, 2017, in which the customer requested $48,223.26 in damages based upon allegations that Stapleton effected unsuitable stock transactions in the customer’s account. Craig Scott Capital however…
Frederick Peter Baerenz, of Great Falls, Virginia, a stockbroker formerly registered with Pacific West Securities, Inc., has been named in a customer initiated investment related arbitration claim, in which customers were collectively awarded $331,000.00 in damages on July 11, 2016, based upon allegations including misrepresentation, unsuitability, fraud, breach of contract, and violation of SEC Rule…
Phillip Hinze, of Golden Valley, Minnesota, a stockbroker formerly registered with Oak Ridge Financial Services Group, Inc., has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he effected trades in a customer’s investment account without authorization. Letter of Acceptance,…
Austin Richard Dutton Jr., of Doylestown, Pennsylvania, a stockbroker currently registered with Newbridge Securities Corporation, has been named in a customer initiated investment related arbitration claim based upon allegations that Dutton breached his fiduciary and contractual duties owed to the customer, negligently managed the customer’s investment portfolio, and made misrepresentations and omissions concerning real estate…
Anna Chin, of Austin, Texas, a registered representative formerly associated with NYLife Securities LLC, has been named in a customer initiated investment related written complaint on March 1, 2017, based upon allegations that Chin recommended that the customer purchase a variable universal life insurance policy in addition to fixed annuities, despite the products having failed…
Brett Allen Machtig, of Bloomington, Minnesota, a stockbroker formerly registered with Investors Capital Corp., was subject of cease and desist sanctions and a $5,000.00 fine by Minnesota Department of Commerce based upon consenting to findings that Machtig effected an equity indexed annuity which was not suitable for a customer. Case No. 1369 (Sept. 15, 2015)….
John Shaw Notman, of Stockton, California, a stockbroker currently registered with Berthel, Fisher & Company Financial Services, Inc., has been named in a customer initiated investment related arbitration claim on May 2, 2016, in which the customer requested $650,000.00 in damages based upon allegations that Notman made misrepresentations to the customers and effected unsuitable transactions…
Denise Ann Cerveny, of Secaucus, New Jersey, a stockbroker formerly registered with Regal Securities, Inc., has been fined $7,500.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that she altered the new account documentation of twenty of the firm’s customers by cutting and…
Nelson Michael Polun, of Bel Air, Maryland, a stockbroker currently registered with Wells Fargo Clearing Services, LLC, has been named in a customer initiated investment related written complaint, which settled for $4,546.96 in damages on March 13, 2017, based upon allegations that Polun made misrepresentations to the customer concerning preferred stock investments, and omitted that…
Wade Theodore Papapanagiotu, of New York, New York, a stockbroker formerly registered with John Thomas Financial, has been named in a customer initiated investment related arbitration claim on April 4, 2016, in which the customer requested $50,000.00 in damages based upon allegations that Papapanagiotu breached his fiduciary duties to the customer and effected unsuitable over-the-counter…
Niaz Elmazi, of New York, New York, a stockbroker formerly registered with Global Arena Capital Corp, has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he did not provide FINRA personnel with a response regarding his compliance with a customer initiated…
Kevin C. Yang, of Pasadena, California, a stockbroker currently registered with Morgan Stanley Inc., has been named in a customer initiated investment related arbitration claim, which settled on December 18, 2016, for $57,500.00 in damages based upon allegations that Yang made misrepresentations to the customer and effected unsuitable structured transactions in the customer’s account. Financial…
Joel Eric Breiter, of Westhampton, New York, a stockbroker currently registered with Oppenheimer & Company, Inc., has been named in a customer initiated investment related written complaint on January 27, 2017, in which the customer requested $430,000.00 in damages based upon allegations that Breiter effected unsuitable over-the-counter equity transactions in the customer’s account. Financial Industry…
Richard Alan Kern, of Beavercreek, Ohio, a stockbroker formerly registered with Morgan Stanley, has been fined $7,500.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he effected trades in customer accounts without authorization. Letter of Acceptance, Waiver and Consent, No. 20160502058-01 (Mar….
Wood (Arthur W.) Company, Inc., headquartered in Boston, Massachusetts, has been fined $10,000.00 and statutory disqualified by Financial Industry Regulatory Authority (FINRA) pursuant to a National Adjudicatory Council Decision containing findings that the firm, inter alia, charged customers commissions which were excessive, and failed to supervise commissions charged by registered representatives. In the Matter of…
Paul Douglas Stanley, of Edmond, Oklahoma, a stockbroker and principal formerly registered with Waddell & Reed, Inc., has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he obstructed an investigation into allegations that he violated his firm’s policies concerning supervision, compensation and…
Ultralat Capital Markets, Inc., a brokerage firm headquartered in Miami, Florida, has been censured and fined $140,000.00 by Financial Industry Regulatory Authority (FINRA) based upon consenting to findings that the firm charged customers with excessive markups and failed to supervise business activities to prevent non-market foreign exchange rates from being utilized or markups from being…
Feltl & Company, a broker-dealer headquartered in Minneapolis, Minnesota, has been censured and fined $150,000.00 by Financial Industry Regulatory Authority (FINRA) based upon consenting to findings that the firm, inter alia, failed to supervise a registered representative’s trading activities. Letter of Acceptance, Waiver and Consent, No. 2010024882202 (Feb. 28, 2017). According to the AWC, between October…
Lyle J Boudreaux, of Houston, Texas, a stockbroker currently registered with Independent Financial Group, LLC, has been named in a customer initiated investment related written complaint on January 27, 2017, in which the customer requested $120,000.00 in damages based upon allegations that Boudreaux was liable for losses sustained by the customer in reference to exchange…
Ramon Manuel Almonte, of San Juan, Puerto Rico, a stockbroker currently registered with UBS Financial Services Inc. and UBS Financial Services Incorporated of Puerto Rico, has been identified in one-hundred and twenty five customer initiated investment related disputes between January 27, 2014, and February 15, 2017, in which customers’ claims are based upon allegations that…
Joseph Louis Derrico, of Staten Island, New York, a stockbroker currently registered with Woodstock Financial Group, Inc., has been named in a regulatory investigation by the State of Montana Securities Division on February 1, 2017, based upon a customer’s complaint referencing Derrico’s misconduct in connection with over-the-counter equity transactions effected in the customer’s account. Financial…
William Mark Heiden, of Newport Beach, California, a stockbroker formerly registered with Morgan Stanley, has been named in a customer initiated investment related arbitration claim on January 24, 2017, in which the customer requested $950,718.24 in damages based upon allegations that Heiden, from 2012 to 2016, effected equity transactions in the customer’s account which were…