Sanford Graham Simmons, also known as Sandy Simmons Jr. and Sanford Graham Simmons Jr., a stockbroker formerly associated with Patrick Capital Markets LLC has been permanently barred by Financial Industry Regulatory Authority (FINRA). On October 17, 2024, FINRA imposed the bar after Simmons refused to provide on-the-record testimony as part of an ongoing investigation initiated…
Signet Securities LLC, a Columbus, Ohio-based securities broker dealer, has been sanctioned by Financial Industry Regulatory Authority (FINRA) for failure to supervise. The securities broker dealer, a subsidiary of Signet Capital, primarily sells private placement securities to retail investors and has been a FINRA member since January 2011. Letter of Acceptance, Waiver, and Consent (AWC)…
Shane Alexander Appelbaum, of Boca Raton, Florida, a stockbroker registered with Herbert J. Sims Co. Inc., is the subject of a customer initiated investment related Financial Industry Regulatory Authority (FINRA) securities arbitration claim in which the customer requested $3,000,000.00 resulting from the sale of private placements during the time that Appelbaum was associated with Herbert…
Mark E. Young, of Topeka, Kansas, a stockbroker registered with Osaic Wealth (also known as Royal Alliance Associates Inc.), was the subject of a customer initiated investment related Financial Industry Regulatory Authority (FINRA) securities arbitration claim that was settled for $1,850,000.00 in damages based upon alleged unsuitable recommendations and the misrepresentation of material facts in…
Matthew Douglas McFarland (also known as Matt McFarland), of Torrance, California, a stockbroker registered with WealthForge Securities LLC, was the subject of a customer initiated investment related Financial Industry Regulatory Authority (FINRA) securities arbitration claim that was settled for $1,500,000.00 in damages based upon alleged unsuitable recommendations and misrepresentations of material fact in connection with…
Stephen Romney Swensen, of Clearfield, Utah, a stockbroker registered with JW Cole Financial Inc. and investment advisor representative of Wealth Navigation Advisors, is the subject of a customer initiated investment related Financial Industry Regulatory Authority (FINRA) securities arbitration claim in which the customer requested $14,400,000.00 in damages resulting from an alleged fraud relating to a…
Rita Mansour, of Toledo, Ohio, a stockbroker registered with McDonald Partners LLC, was the subject of a customer initiated investment related Financial Industry Regulatory Authority (FINRA) securities arbitration claim that was settled for $60,000.00 in damages based upon alleged omissions of material fact and unsuitable recommendations in corporate and asset-backed bonds during the time that…
Christopher Michael Lazos of New York, New York, a stockbroker registered with Oppenheimer Co. Inc., is the subject of a customer initiated investment related civil action in which the customer requested $250,000.00 in damages based upon allegations that Lazos helped an individual create a misleading valuation for a private placement that was held by the…
Thomas Burgess Hamlin of Portland, Oregon, a stockbroker registered with Somerset Securities Inc., is the subject of a customer initiated investment related Financial Industry Regulatory Authority (FINRA) securities arbitration claim in which the customer requested $108,000.00 in damages based upon allegations that Hamlin made unsuitable investment recommendations of iCap Equities private placements when Hamlin was…
Robert Emmett Marquez (also known as Bob Marquez), of Smithtown, New York, a stockbroker registered with Investment Network Inc., has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because Marquez refused to appear for testimony concerning his potential private placement activities during the time that he was associated…
John Jay Kersey, of Cincinnati, Ohio, a stockbroker registered with Northwestern Mutual Investment Services LLC, is the subject of a customer initiated investment related complaint filed on September 19, 2023, in which the customer requested compensatory damages based upon allegations that Kersey instructed the customer to write personal checks to him and misled the customer…
Pierre Michael Hilario of Milpitas, California, a stockbroker registered with NI Advisors, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because Hilario refused to comply with FINRA’s investigation into his involvement in private placement offerings. Letter of Acceptance, Waiver, and Consent No. 2020066757801 (August 17, 2023). According…
Chay Thomas Lapin, of Torrance, California, a stockbroker associated with WealthForge Securities, was the subject of a customer initiated investment related Financial Industry Regulatory Authority (FINRA) securities arbitration claim in which the customer requested $552,535.65 in damages based upon allegations that Lapin failed to conduct reasonable due diligence, was negligent, made unsuitable recommendations, failed to…
Scott Dale Syde (also known as Scott Dale Syde), of Bloomington, Minnesota, a stockbroker registered with Independent Financial Group LLC, was the subject of a customer initiated investment related civil action that was settled for $150,000.00 in damages based upon allegations that Syde, now deceased, managed a private investment account for the customer during the…
Thomas Marion McDonald, of Cleveland, Ohio, a stockbroker registered with McDonald Partners LLC, was the subject of a customer initiated investment related complaint that was settled on March 14, 2023, for $262,500.00 in damages based upon allegations that McDonald made omissions of material fact in connection with the sale of private placements when McDonald was…
Darien Euclid Bonney of Scottsdale, Arizona, a stockbroker registered with MML Investors Services LLC, is the subject of a customer initiated investment related civil action in which the customer requested compensation based upon allegations that Bonney made misrepresentations of material fact and made unsuitable recommendations of promissory notes in Spyglass during the time that Bonney was…
David Grant Conrad Morgan (also known as Joseph Edward Schepise), of South Norwalk, Connecticut, a stockbroker registered with National Securities Corporation, was the subject of a customer initiated investment related Financial Industry Regulatory Authority (FINRA) securities arbitration claim that was settled for $30,000.00 in damages based upon allegations that Morgan made unsuitable recommendations of over-the-counter…
Jason Steven Hawke, of Meridian, Idaho, a stockbroker registered with National Securities Corporation, was the subject of a customer initiated investment related Financial Industry Regulatory Authority (FINRA) securities arbitration claim that was settled for $45,000.00 in damages based upon allegations that Hawke made unsuitable recommendations of private placements during the time that Hawke was associated…
Abbe Jan Wollins of Boca Raton, Florida, a stockbroker registered with David Lerner Associates Inc. (DLA), has been fined $5,000.00 and suspended for three months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because Wollins made unsuitable recommendations. Letter of Acceptance, Waiver, and Consent No. 2019063686205 (June 20, 2023). According…
Brandon Leon of New York, New York, a stockbroker registered with National Securities Corporation, was the subject of a customer initiated investment related FINRA securities arbitration claim in which the customer requested $336,700.00 in damages based upon allegations that Leon made unsuitable recommendations of private placements when Leon was associated with National Securities Corporation. Financial…
Surage Kamal Roshan Perera, of Melville, New York, a stockbroker registered with Aegis Capital Corp. is the subject of an enforcement action initiated by the United States Securities & Exchange Commission in which the regulator is seeking sanctions against Perera based upon allegations that Perera committed fraud and misappropriated funds. SEC v. Surage Kamal Roshan…
Azmi P. Sharif of Elmhurst, Illinois, a stockbroker registered with LPL Financial LLC, has been discharged by the securities broker dealer on December 20, 2022, based upon allegations that Sharif engaged in an undisclosed outside business activity. The securities broker dealer stated that Sharif inadequately disclosed his business activities and had taken part in undisclosed…
Gary Walter Isler of Lawrenceville, New Jersey, a stockbroker registered with David Lerner Associates Inc., was the subject of a customer initiated investment related FINRA securities arbitration claim that was settled for $20,000.00 in damages based upon allegations that Isler made misrepresentations and omissions of material fact, breached his fiduciary duties to the customer, and…
William John Braun (also known as Bill Braun), of Boca Raton, Florida, a stockbroker registered with National Securities Corporation, is the subject of a customer initiated investment related FINRA securities arbitration claim in which the customer requested $200,000.00 in damages based upon allegations that Braun made unsuitable investment recommendations of private placements during the time…
Arthur Solomon Grossbard (also known as Artie Grossbard), of West Orange, New Jersey, a stockbroker registered with Royal Alliance Associates Inc., is the subject of a customer initiated investment related FINRA securities arbitration claim in which the customer requested $250,000.00 in damages based upon allegations that Grossbard made unsuitable investment recommendations of private placements when…
Philippus Theunis Van Staden (also known as Philip Van Staden), of Atlanta, GA, a stockbroker registered with The Strategic Financial Alliance Inc., was the subject of a customer initiated investment related FINRA securities arbitration claim that was settled for $90,000.00 in damages based upon allegations that Van Staden failed to perform due diligence, made unsuitable…
Ahmed Ghassan Gheith (also known as Andy Gheith), of New York, NY, a stockbroker registered with Noble Capital Markets Inc., has been fined $7,500.00 and suspended for one month from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because Gheith engaged in the unauthorized solicitation of private placements. Letter of Acceptance,…
Trevor Lee Gordon of Greenville, South Carolina, a stockbroker registered with Sandlapper Securities LLC, was sanctioned by FINRA based upon allegations that Gordon failed to comply with an arbitration award or otherwise confirm compliance with the regulator. Financial Industry Regulatory Authority (FINRA) Arbitration No. 21-01008 (August 20, 2021). Gordon and Sandlapper Securities LLC were ordered to…
Brian Charles Kennedy (also known as Brian Charles Fitton), of Camp Hill, Pennsylvania, a stockbroker registered with Lincoln Financial Advisors Corporation, is the subject of a customer initiated investment related FINRA securities arbitration claim in which the customer requested compensation based upon allegations that Kennedy made unsuitable recommendations of oil and gas investments when Kennedy…
Robert Michael Gianchiglia of Worcester, Massachusetts, a stockbroker registered with Ameritas Investment Corp., was the subject of a customer initiated investment related FINRA securities arbitration claim that was settled to resolve allegations that Gianchiglia made misrepresentations of material fact in connection with the recommendation and sale of private placements when Gianchiglia was associated with Ameritas…
Fredrick Martin Randhahn (also known as Fred Randhahn and Frederick Martin Randhahn), of Ogden, Utah, a stockbroker registered with Sigma Financial Corporation, has been barred as a stockbroker by Utah Division of Securities based upon allegations that Randhahn violated state securities laws. In the Matter of Fred M. Randhahn, Notice of Agency Action, Docket No….
Anthony Vultaggio Jr., of East Meadow, New York, a stockbroker registered with American Capital Partners LLC, was the subject of a customer initiated investment related FINRA securities arbitration claim that was settled for $375,000.00 in damages resulting from the customer’s purchase of private placements during the time that Vultaggio was associated with American Capital Partners…
Floyd E. Powell of Albertville, Alabama, a stockbroker registered with MSI Financial Services Inc., was the subject of a customer initiated investment related FINRA securities arbitration claim that was settled for $62,500.00 in damages based upon allegations that Powell made unsuitable recommendations of Woodbridge Group promissory notes during the time that Powell was associated with MSI…
Craig Anthony Zabala of Harlem, New York, a stockbroker registered with John W. Loofbourrow Associates Inc. (and President and CEO of Concorde Group Holdings Inc.), has been barred by Securities and Exchange Commission (SEC) from being a stockbroker or an investment advisor representative because Zabala committed fraud. In the Matter of Craig A. Zabala, Order…
Brent Jason Greninger, of Weston, Florida, a stockbroker registered with Raymond James Associates Inc., was the subject of a customer initiated investment related Financial Industry Regulatory Authority (FINRA) securities arbitration claim that was settled for $150,000.00 in compensatory damages based upon allegations that Greninger made unsuitable recommendations of “private investments” when Greninger was associated with…
Cynthia Komarek (also known as Cynthia Ann Brown), of Barrington, Illinois, a stockbroker registered with Sagepoint Financial Inc., has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because Komarek failed to provide information and documents to FINRA when it investigated Komarek’s referral of customers to an unapproved investment…
McDonald Partners LLC, a securities broker-dealer headquartered in Cleveland, Ohio, has been censured and fined $100,000.00 by Financial Industry Regulatory Authority (FINRA) based in part on findings that McDonald Partners failed to perform due diligence concerning private placement offerings, including failing to disclose to investors the risks relating to the offerings. Letter of Acceptance, Waiver,…
Grant Christopher Birkley of Barrington, Illinois, a stockbroker formerly registered with SagePoint Financial Inc., is the subject of a customer initiated investment related FINRA securities arbitration claim which was settled for $625,000.00 in damages supported by accusations of an inappropriate private investment fund through Birkley during the time that he was associated with Sagepoint Financial….
Torch Securities LLC, a securities broker dealer headquartered in Sugar Land, Texas, has been censured and fined $17,500.00 by Financial Industry Regulatory Authority (FINRA) based upon findings that Torch Securities failed to supervise private placement transactions recommended to customers. Letter of Acceptance, Waiver, and Consent No. 2019062311702 (May 6, 2022). According to the AWC, from…
Vincent John Villani of New York, New York, a stockbroker currently registered with National Securities Corporation, is the subject of a customer initiated investment related FINRA securities arbitration claim where the customer sought $300,000.00 in damages founded on accusations that the customer had been sold unsuitable private placements by Villani while he was employed by…
Dempsey Lord Smith, a securities broker dealer headquartered in Rome, Georgia, has been censured and fined $70,000.00 by Financial Industry Regulatory Authority (FINRA) supported by findings that it made unsuitable investment recommendations and failed to tell investors adverse information about GPB Capital Holdings LLC. Letter of Acceptance, Waiver, and Consent No. 2019061213901 (March 21, 2022)….
Bryon Edwin Martinsen of Kings Park, New York, a stockbroker currently registered with Centaurus Financial Inc., is identified in a customer initiated investment related FINRA securities arbitration claim which was settled for $15,801.50 in damages based upon allegations that the customer’s account had been overconcentrated by Martinsen in real estate securities in illiquid investments while…
Scott Thomas Wolfrum of Indianapolis, Indiana, a stockbroker formerly registered with David Noyes Company, is the subject of a customer initiated investment related FINRA arbitration claim in which the customer sought between $100,000.00 and $500,000.00 in damages based upon allegations that unsuitable recommendations were made to the customer by Wolfrum concerning alternative investments, including real…
Luke Michael Johnson of Scottsdale, Arizona, a stockbroker formerly registered with Coastal Equities Inc., is the subject of a customer initiated investment related FINRA securities arbitration claim where the customer requested $200,000.00 in damages supported by accusations of Johnson made unsuitable recommendations to the customer concerning real estate securities and direct investments, including direct participation…
Bentley Edward Blackmon of Little Rock, Arkansas, a stockbroker formerly registered with securities broker dealer, Stephens, has been fined $5,000.00 and suspended for three months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that Blackmon engaged in private securities transactions while he was associated with Stephens. Letter…
Randy Lee Birkinbine, of North Oaks, Minnesota, a stockbroker formerly registered with Ausdal Financial Partners Inc., is referenced in a customer initiated investment related securities arbitration claim where the customer requested $100,000.00 in damages founded on accusations of breach of fiduciary duty concerning Birkinbine’s private placements when he was employed by Ausdal Financial Partners. Financial…
Albert Foronda of New York, New York, a stockbroker currently registered with Spartan Capital Securities LLC, is identified in a customer initiated investment related FINRA arbitration claim where the customer sought $36,836.24 in damages founded on accusations of unauthorized and unsuitable trading by Foronda concerning a private placement when Foronda was registered with Spartan Capital…
Worden Capital Management LLC, a securities broker dealer headquartered in Garden City, New York, has been charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement with failing to supervise private placement offerings, including its failure to conduct due diligence to ensure that investments were suitable for investors. Department of Enforcement v. Worden Capital Management…
Fusion Analytics Securities LLC, a securities broker dealer headquartered in Coral Springs, Florida, has been charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement with defrauding investors in relation to the sale of bond offerings. Department of Enforcement v. Fusion Analytics Securities LLC, Disciplinary Proceeding No. 2018059545604 (March 7, 2022). According to the Complaint,…
Willard Louis Pugh, of Boca Raton, Florida, a stockbroker formerly registered with National Securities Corp, is identified in a customer initiated investment related FINRA arbitration claim which was settled for $60,000.00 in damages supported by allegations of an unsuitable private placement transaction by Pugh while he was associated with National Securities Corp. Financial Industry Regulatory…
CIM Securities LLC, a securities broker dealer headquartered in Centennial, Colorado, has been censured and fined $35,000.00 by Financial Industry Regulatory Authority (FINRA) founded on findings that CIM Securities failed to supervise suitability requirements for private placement transactions. Letter of Acceptance, Waiver, and Consent No. 2019060957101 (January 31, 2022). According to the AWC, from September…
Daniel George McPherson (also known as Dan McPherson), of Idaho Falls, Idaho, a stockbroker formerly registered with Cetera Advisors LLC, is the subject of a customer initiated investment related FINRA Securities Arbitration claim which was resolved for $57,500.00 in damages supported by accusations of McPherson making unsuitable recommendations to the customer regarding private placements, real…
Eric Carl Willer, of Dallas, Texas, a stockbroker formerly registered with Fusion Analytics Securities LLC, has been suspended for nine months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings that he provided unsuitable investment recommendations to customers regarding bond offerings while he was associated with Fusion Analytics…
Kevin Mark Nevin, of Edina, Minnesota, a stockbroker formerly registered with Dempsey Lord Smith LLC and Sandlapper Securities LLC, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by accusations that he failed to comply with FINRA’s requests for information in 2021 regarding the non-payment of a…
Aaron Douglas Maurer (also known as Doug Maurer), of White Plains, New York, a stockbroker formerly registered with Ascendant Alternative Strategies LLC, has been fined $10,000.00 and suspended for two years from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that he engaged in unapproved private securities transactions…
Mark Lee Elafros, of Northbrook, Illinois, a stockbroker formerly registered with Ausdal Financial Partners Inc., is the subject of a customer initiated investment related FINRA securities arbitration claim in which the customer requested compensatory damages based upon accusations of Elafros making unsuitable private placement and unit investment trust sales to the customer when he was…
Lawrence John Fawcett Jr. (also known as Larry Fawcett), of Los Angeles, California, a stockbroker formerly registered with WestPark Capital Inc., is referenced in a customer initiated investment related FINRA securities arbitration claim where the customer was awarded $545,727.12 in compensatory damages based upon WestPark Capital being found liable on the customer’s causes of action,…
John Carter Braddock, of Salida, Colorado, a stockbroker formerly registered with Lakeridge Capital Inc., has been suspended for five months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings that he misrepresented and omitted information relating to private placements during the time that he was registered with Lakeridge…
Daniel Todd Levine, of Greenwood Village, Colorado, a stockbroker formerly registered with Morgan Stanley, is the subject of a customer initiated investment related FINRA securities arbitration claim where the customer sought compensatory damages based upon allegations that they were placed into unsuitable “private placements” during the time that Levine was registered with Morgan Stanley Smith…
John James Hoidas of Chicago Illinois a stockbroker formerly registered with Uhlmann Price Securities Inc. is referenced in a customer initiated investment related FINRA securities arbitration claim where the customer sought $499,000.00 in damages based on accusations that Hoidas provided unsuitable recommendations as it pertained to private placements while he was employed by Uhlmann Price…
JeanPierre Ayala (also known as JP Ayala) of Boca Raton Florida a stockbroker formerly registered with Laidlaw Company (UK) Ltd. is the subject of a customer initiated investment related FINRA securities arbitration claim where the customer sought $100,000.00 in damages founded upon accusations that Ayala sold unsuitable investments, including private placements, stocks, and over-the-counter equities…
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 FINRA securities arbitration claim in which the customer sought $450,000.00 in damages founded upon accusations of misrepresentations and omissions regarding mutual fund transactions and a private placement offering during…
James Lee Greene (also known as Herbie Greene) of Boca Raton Florida a stockbroker currently registered with National Securities Corporation is referenced in a customer initiated investment related FINRA securities arbitration claim in which the customer requested $100,000.00 in damages based upon accusations that they invested in an unsuitable private placement because of Greene when…
Frank Mastrosimone of Basking Ridge New Jersey a stockbroker formerly registered with Royal Alliance Associates is the subject of a customer initiated investment related FINRA securities arbitration claim in which the customer requested $100,000.00 in damages supported by accusations that they had been placed into an unsuitable private investment fund by Mastrosimone while he was…
Gerald Roger Dewes of East Amherst New York a stockbroker formerly registered with Cadaret Grant Co. Inc. is referenced in a customer initiated investment related written complaint on April 7, 2021, in which the customer requested more than $5,000.00 in damages based on allegations of a breach of fiduciary duty by Dewes as it pertained…
Robert Scott Smith of Newberg Oregon a stockbroker formerly registered with Concorde Investment Services is the subject of a customer initiated investment related written complaint on May 10, 2021 in which the customer sought $678,500.00 in damages supported by accusations that they had been sold unsuitable private placements by Smith while he was registered with…
Kevin Richard Wilson of New York New York a stockbroker formerly registered with Laidlaw Company (UK) Ltd. is referenced in a customer initiated investment related FINRA securities arbitration claim where the customer requested $100,000.00 in damages supported by accusations that they had been sold unsuitable private placements and over-the-counter equities by Wilson during the period…
Vincent John Villani of New York New York a stockbroker formerly registered with National Securities Corporation is referenced in a customer initiated investment related FINRA securities arbitration claim which was resolved for $50,000.00 in damages based upon accusations of Villani making unsuitable private placement recommendations or sales at National Securities Corp which resulted in losses…
Melvin Pirchesky (also known as Mel Pirchesky) of Irvine California a stockbroker formerly registered with Boustead Securities LLC is named in an investment related civil action in which the investor requested $871,021.18 in damages supported by accusations that excessive commissions had been charged on a private placement transaction that Pirchesky arranged during the time that…
Gerald Lee Brodsky of New York New York a stockbroker formerly registered with Dinosaur Financial Group LLC is referenced in a customer initiated investment related FINRA securities arbitration claim where the customer sought $800,000.00 in damages based on accusations that the customer was placed into Concord Group Holdings through a private placement offering and that…
Walter Warren Parker of Rowlett Texas a stockbroker formerly registered with Titan Securities is the subject of a customer initiated investment related FINRA securities arbitration claim where the customer sought $95,000.00 in damages supported by accusations of negligence regarding the sale of interests in a private placement and the sale of a real estate security…
DH Hill Securities LLLP a securities broker dealer headquartered in Kingwood Texas has been censured and fined by Financial Industry Regulatory Authority (FINRA) supported by findings that the securities broker dealer made unregistered securities transactions. Letter of Acceptance Waiver and Consent No. 2019063187001 (July 22, 2021). According to the AWC, from August of 2015 to…
Scott Vincent Kaup of Stuart Nebraska a stockbroker formerly registered with FSR Advisory Services is referenced in a customer initiated investment related FINRA securities arbitration claim in which the customer requested more than $5,000.00 in damages supported by accusations that Kaup provided unsuitable recommendations to the customer regarding private placements and real estate securities transactions…
Jennifer W. Ling (also known as Jenifer W. Li) of New York New York a stockbroker formerly registered with Axiom Capital Management Inc. is referenced in a customer initiated investment related FINRA securities arbitration claim where the customer sought $150,000.00 in damages based upon accusations that Ling provided unsuitable recommendations concerning an alternative investment that…
Thomas Edison Kelly Jr. of New York New York a stockbroker formerly registered with National Securities Corp is referenced in a customer initiated investment related FINRA securities arbitration claim in which the customer sought more than $5,000.00 in damages based upon accusations that they were sold unsuitable private placements by Kelly while he was associated…
James Arthur Allen (also known as Jim Allen) of Chicago Illinois a stockbroker formerly registered with David A. Noyes is referenced in a customer initiated investment related FINRA securities arbitration claim where the customer requested $160,000.00 in damages based upon allegations that the customer had been sold an unsuitable alternative investment by Allen through David…
Clement Lancelot Chichester (also known as Clement Ignatius Chichester) of Westlake Village California a stockbroker formerly registered with Western International Securities Inc. is referenced in a customer initiated investment related FINRA securities arbitration claim where the customer requested between $250,000.00 and $500,000.00 in damages supported by accusations that the customer received bad investment advice from…
Sean Daniel McDevitt of Houston Texas a stockbroker formerly registered with Woodrock Securities LP has been fined $10,000.00 and suspended for six months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that McDevitt engaged in outside business activities while registered with Woodrock. Letter of Acceptance Waiver and…
Joseph Anthony Alagna Jr. the Chief Executive Officer of Joseph Gunnar Co. LLC is the subject of a customer initiated investment related FINRA securities arbitration claim where the customer requested $340,000.00 in damages founded on allegations that Alagna failed to supervise a Joseph Gunnar stockbroker who sold customers bad private placements. Financial Industry Regulatory Authority…
John James Hoidas of Chicago Illinois a stockbroker formerly registered with Uhlmann Price Securities LLC is referenced in a customer initiated investment related written complaint which was settled for $12,500.00 on October 6, 2020 founded on allegations of unsuitable closed-end fund transactions being effected in the customer’s account by Hoidas while he was registered with…
Growth Capital Services Inc. a securities broker dealer headquartered in San Francisco California has been censured and fined $35,000.00 by Financial Industry Regulatory Authority (FINRA) based on findings that it made misleading statements to prospective investors regarding private placements. Letter of Acceptance Waiver and Consent No. 2019060721801 (Jan. 15, 2021). According to the AWC, Growth…
Gary Wayne Hammond of Charlotte North Carolina a stockbroker formerly registered with Hornor Townsend Kent Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings that he was selling away from MML Investors and that he referred customers to fraudulent investments. Letter of Acceptance Waiver…
John Michael LoPinto of New York New York a stockbroker formerly registered with Worden Capital Management and investment adviser representative of Keyport Venture Advisors LLC has been censured and fined $40,000.00 according to a Securities and Exchange Commission (SEC) Order containing findings that LoPinto made misrepresentations to investors concerning pooled investment vehicles. In the Matter…
Craig Anthony Zabala of Harlem New York a stockbroker formerly registered with John W. Loofbourrow Associates and CEO of Concorde Group Holdings has been charged by Securities and Exchange Commission (SEC) with making misrepresentations to investors and misappropriating their funds. Securities and Exchange Commission v. Craig A. Zabala et al. Case No. 1:20-cv-07880 (Sept. 24,…
Michael Edward Magill of Portland Maine a stockbroker formerly registered with Foreside Fund Services LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings that Magill effected private securities transactions. Letter of Acceptance Waiver and Consent No. 2019064830701 (Dec. 7, 2020). According to the AWC,…
Anthony Matthew Cottone of Boca Raton Florida a stockbroker formerly registered with Landolt Securities Inc. is referenced in a customer initiated investment related arbitration claim where the customer requested $260,000.00 in damages supported by allegations of the customer’s assets being overconcentrated in private placements and allegations of transactions not being supervised by Landolt Securities. Financial…
Rodrigue Lors (also known as Rodrique Lors) of Westbury New York a stockbroker formerly employed by National Securities Corporation is referenced in a customer initiated investment related arbitration claim in which the customer sought $100,000.00 in damages supported by accusations that the customer had been placed into unsuitable private placement securities by Lors at National…
Brittney Jade Sias (also known as Rosalie P. Sias) of Westlake Village California a stockbroker formerly registered with Western International Securities Inc. is the subject of a customer initiated investment related arbitration claim where the customer requested up to $500,000.00 in damages based upon allegations of bad investment advice concerning non-traded real estate investment trusts…
Randy Lee Birkinbine of North Oaks Minnesota a stockbroker currently registered with Ausdal Financial Partners Inc. is the subject of a customer initiated investment related arbitration claim where the customer requested $109,000.00 in damages based upon allegations of illiquid and unsuitable investments including private placements and real estate securities which led to an over-concentration in…
Anthony Vultaggio Jr. of East Meadow New York a stockbroker formerly registered with American Capital Partners LLC is the subject of a customer initiated investment related arbitration claim where the customer sought $1,000,000.00 in damages based upon allegations that the customer had been placed into an inappropriate private placement by Vultaggio during the time that…
Scott Thomas Wolfrum of Indianapolis Indiana a stockbroker formerly registered with Huntleigh Securities Corporation is the subject of a customer initiated investment related written complaint which was settled for $449,300.00 on April 9, 2019 based upon accusations that the customer was placed into a private placement without authorization in January of 2018 when Wolfrum was…
William Perry Randall (also known as W. Perry Randall) of Rockford Illinois a stockbroker formerly registered with LPL Financial LLC is the subject of a customer initiated investment related arbitration claim in which the customer sought $40,000.00 in damages based upon accusations that the customer had been advised to invest in energy sector investments which…
Christopher R. Bice (also known as Cubby Rice) a stockbroker currently registered with Sagepoint Financial is the subject of a customer initiated investment related arbitration claim in which the customer requested $350,000.00 in damages based upon allegations that the customer had been placed into unsuitable private placements by Bice during the time that he was…
Susan Lavon Welo of Mayville North Dakota a stockbroker formerly employed by Cetera Advisor Networks LLC has been identified in a customer initiated investment related arbitration claim where the customer sought $100,000.00 in damages founded on accusations of unsuitable private placements being sold to the customer while Welo was employed by Securities America Inc. and…
Matthew William Crafa of Garden City New York a stockbroker currently associated with Royal Alliance Associates Inc. has been referenced in a customer initiated investment related arbitration claim in which the customer requested damages estimated to exceed $5,000.00 supported by allegations that a fiduciary duty that was owed to the customer had been breached and…
William Louis Baumner IV (also known as Bill Baumner) of Boca Raton Florida a stockbroker formerly employed by Buckman Buckman Reid Inc. has been identified in a customer initiated investment related arbitration claim where the customer sought $67,000.00 in damages founded on accusations that the customer was provided with unsuitable investment advice pertaining to a…
Matthew Gates of New York New York a stockbroker formerly registered with Joseph Gunnar Co. LLC is the subject of a customer initiated investment related complaint on August 28, 2019 where the customer sought $100,000.00 in damages based upon accusations that the customer had been misled by Gates concerning a fund purchased through a private…
John Michael Krohn (also known as John Micheal Krohn) of West Des Moines Iowa a stockbroker formerly registered with Principal Securities Inc. is the subject of a customer initiated investment related arbitration claim where the customer sought $10,000,000.00 in damages based upon accusations of Krohn having recommended or sold investments to the customer outside of…
Trevor Bradner Rahn of Los Angeles California a stockbroker formerly employed by J.P. Morgan Securities LLC has been identified in a customer initiated investment related written complaint on April 1, 2020 where the customer sought $125,000.00 in damages founded on accusations that a private securities transaction concerning a private placement was facilitated by Rahn outside…
Shane Rene Falcon of Miami Florida a stockbroker currently registered with National Securities Corp is the subject of a customer initiated investment related arbitration claim in which the customer requested $300,000.00 in damages based upon allegations that the customer had been placed into a private placement which was not suitable for the customer when Falcon…
Mark Charles Cohen of New York New York a stockbroker formerly registered with BCG Securities Inc. is the subject of a customer initiated investment related arbitration claim where the customer sought $50,000.00 in damages based upon accusations that (1) due diligence was not properly performed prior to Cohen having recommended or sold direct investments to…
Michael Packman of Westbury New York a stockbroker formerly employed by Axiom Capital Management Inc. has been identified in a customer initiated investment related arbitration claim where the customer sought $99,999.00 in damages founded on accusations that the customer had been sold unsuitable alternative investments from Packman during the period in which the stockbroker was…
George Louis McCaffrey III of Englewood Colorado a stockbroker formerly associated with NTB Financial Corporation has been referenced in a customer initiated investment related complaint on May 14, 2019 in which the customer requested $290,000.00 in damages supported by allegations of the customer being inappropriately advised by McCaffrey to use individual retirement account funds to…
Jeffrey Hall Heely of Beverly Hills California a stockbroker formerly registered with NMS Capital 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 findings that he engaged in undisclosed outside business activities. Letter of Acceptance Waiver and Consent No. 2019063224501 (Apr….
Daniel Todd Lerner of New York New York a stockbroker registered with David Lerner Associates Inc. is the subject of a customer initiated investment related arbitration claim where the customer sought unspecified damages based upon accusations that (1) David Lerner Associates failed to supervise Daniel Lerner (2) a fiduciary duty that was owed to the…
Darren Wayne Oglesby of Oakdale Minnesota a stockbroker currently associated with Money Concepts Capital Corp has been referenced in a customer initiated investment related arbitration claim in which the customer requested $100,000.00 in damages supported by allegations that (1) a fiduciary duty that was owed to the customer had been breached by Oglesby (2) a…
Bryon Edwin Martinsen of Kings Park New York a stockbroker associated with Centaurus Financial Inc. has been referenced in a customer initiated investment related arbitration claim which was settled for $25,000.00 in damages supported by allegations that the stockbroker’s investment recommendations failed to be suitable for the Centaurus Financial customer. Financial Industry Regulatory Authority (FINRA)…
Anthony Sica of New York New York a stockbroker registered with Joseph Gunnar Co. LLC is the subject of a customer initiated investment related arbitration claim in which the customer requested $750,000.00 in damages based upon allegations that private placements were sold by Sica without reasonable supervision from Joseph Gunnar and that those investments failed…
Bruce Albert Slater of Northville Michigan a stockbroker associated with Transamerica Financial Advisors Inc. has been referenced in a customer initiated investment related arbitration claim in which the customer requested $500,000.00 in damages supported by allegations that the customer had been advised to allocate an excessive portion of funds in risky limited partnerships which failed…
James Gregory McKinney (also known as Greg McKinney) of Tulsa Oklahoma a stockbroker formerly registered with Cetera Advisors LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity according to a Default Decision containing findings that the stockbroker neglected to testify or produce documentation for FINRA personnel while…
Jody Ethan Thompson of New York New York a stockbroker formerly registered with Alexander Capital L.P. has been suspended for five months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that (1) Thompson provided unsuitable investment recommendations to customers concerning promissory notes and Regulation D offerings and…
Patrick Nicholas Teutonico of Seaford New York a stockbroker registered with Network 1 Financial Securities Inc. is the subject of a customer initiated investment related arbitration claim where the customer sought $125,000.00 in damages based upon accusations that (1) private placements lacked appropriate supervision from the securities broker dealerand (2) and that Teutonico breached his…
Heath Shayne Bowen of Idaho Falls Idaho stockbroker formerly associated with Allegis Investment Services has been suspended by Financial Industry Regulatory Authority (FINRA) from associating with any FINRA member in any capacity supported by allegations that the stockbroker neglected to comply with a customer initiated investment related arbitration award or settlement agreement or otherwise confirm…
James Edward Lyons of Shreveport Louisiana a stockbroker employed by Raymond James Associates Inc. has been referenced in a customer initiated investment related arbitration claim in which the customer had been awarded $2,986,708.96 in compensatory damages supported by Raymond James Associates being found liable on the customer’s claims which included that (1) mutual funds, stocks…
Dana Bruce Vietor of Dallas Texas a stockbroker formerly registered with CFD Investments Inc. is the subject of a customer initiated investment related arbitration claim where the customer requested $75,000.00 in damages supported by allegations that (1) a contract was breached by the stockbroker or the securities broker dealer (2) fiduciary duties had been breached…
Timothy Allen Thelen of Scottsdale Arizona a stockbroker formerly registered with Aeon Capital Inc. and Accelerated Capital Group is referenced in a customer initiated investment related arbitration claim where the customer requested $620,000.00 in damages founded on accusations that (1) private placement offerings were negligently recommended or sold by the stockbroker and (2) Thelen breached…
Anthony Vultaggio Jr. of East Meadow New York a stockbroker formerly employed by American Capital Partners LLC is the subject of a customer initiated investment related arbitration claim in which the customer sought $700,000.00 in damages based upon accusations that the customer had been sold a bad private placement offering through Vultaggio during the time…
Christopher Michael Zelesnick of Nashville Tennessee a stockbroker formerly employed by Impactive Advisors LLC is the subject of a customer initiated investment related civil action in which the customer sought $7,250,000.00 in damages founded on accusations that between 2013 and 2017: (1) the customer had been defrauded and (2) the customer’s funds had been misappropriated…
Melvin Pirchesky of Irvine California a stockbroker formerly employed by Boustead Securities LLC has been terminated by the securities broker dealer on April 12, 2019 during the period in which he was investigated for violating FINRA rules and Boustead’s procedures which pertained to private placement activities. Financial Industry Regulatory Authority (FINRA) Public Disclosure additionally confirms…
Robert Frederick Genito of Bonita Springs Florida a stockbroker formerly registered with PFS Investments Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings of the stockbroker failing to provide recorded testimony during FINRA’s investigation into allegations into his (1) outside business activities which failed…
Gary Wayne Hammond of Charlotte North Carolina a stockbroker formerly registered with MSI Financial Services (MetLife Securities) is the subject of a customer initiated investment related civil action brought in the North Carolina Superior Court in which the customer sought more than $25,000.00 in damages based upon allegations that (1) the customer had been provided…
James Royal Kirchner of Indianapolis Indiana a stockbroker formerly registered with David A. Noyes Company is the subject of a customer initiated investment related arbitration claim in which the customer sought more than $101,000.00 in damages supported by allegations that the private placements Kirchner recommended or sold while employed by David A. Noyes were in…
Eric Peter Weschke of Setauket New York a stockbroker currently employed by Kalos Capital is the subject of a customer initiated investment related arbitration claim in which the customer requested $127,000.00 in damages founded on accusations that (1) the customer’s assets were inappropriately invested by Weschke in private equity products including GPB when he was…
Kristian M. Gaudet of Cut Off Louisiana a stockbroker formerly registered with Ameritas Investment Corp. is referenced in a customer initiated investment related arbitration claim where the customer sought $538,500.00 in damages supported by accusations that (1) the customer’s account was administered negligently (2) Ameritas Investment Corp. failed to supervise Gaudet’s activities and (3) private…
Aaron Chaim Lupuloff of Atlanta Georgia a stockbroker formerly employed by Stifel Nicolaus Company Incorporated is referenced in a customer initiated investment related arbitration claim where the customer sought $3,200,000.00 in damages supported by accusations that (1) the customer had been placed into corporate bonds through a private placement executed by Lupuloff and (2) fraudulent…
David Wilson Williams of Dallas Texas a stockbroker and supervisor formerly registered with WFG Investments Inc. is the subject of a customer initiated investment related arbitration claim where the customer was awarded $50,000.00 in compensatory damages based upon Williams being found liable on the customer’s claims which included that (1) contractual obligations to the customer…
Wesley Owen Clinton of Seaford New York a stockbroker currently registered with Network 1 Financial Securities Inc. is referenced in a customer initiated investment related arbitration claim where the customer sought $145,000.00 in damages based upon allegations that (1) the customer was placed in private placements and over-the-counter equities which were inappropriate given the customer’s…
Darrell Walter Rideaux of Los Angeles California a stockbroker employed by Morgan Stanley is the subject of a customer initiated investment related arbitration claim which was resolved for $130,000.00 in damages supported by allegations that an unauthorized investment solicited by Rideaux when he was employed by Morgan Stanley caused the customer to incur unwarranted losses….
Alexander Kibrik of New York New York a stockbroker registered with Garden State Securities Inc. has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations of Kibrik failing to comply with the terms of a FINRA Arbitration Award. Case No. 16-03304 (June 12, 2018). FINRA Public…
Ross Sinclaire Associates LLC a securities broker dealer headquartered in Cincinnati Ohio has been censured and fined $200,000.00 by Financial Industry Regulatory Authority (FINRA) based upon findings that (1) Ross Sinclaire did not make required disclosures to investors concerning its municipal offering and (2) Ross Sinclaire failed to supervise activities relating to stockbrokers’ direct market…
Anthony Diaz of Scotrun Pennsylvania a stockbroker formerly registered with IBN Financial Services Inc. is the subject of a customer initiated investment related arbitration claim where the customer sought unspecified damages founded on allegations that the customer had been placed into unsuitable investments including (1) real estate security (2) promissory note (3) oil and gas…
David Michael Apted of Saint Louis Missouri a stockbroker formerly registered with Forest Securities Inc. has been discharged by the firm on February 28, 2018 based upon its accusations that (1) Apted engaged in an outside business activity without either disclosing it to the firm or obtaining its approval (2) Apted submitted fraudulent documentation to…
William Louis Baumner IV of Boca Raton Florida a stockbroker formerly registered with Buckman Buckman Reid Inc. is the subject of a customer initiated investment related arbitration claim where the customer sought $10,000.00 in damages based upon allegations that the customer was placed into an unsuitable private placement investment while Baumner was associated with the…
Rodger Sprouse of Overland Park Kansas a stockbroker currently employed by Titan Securities of Addison Texas (CRD No. 131392) of is the subject of an investment related civil action in the Circuit Court of Jackson County Missouri where the investor sought $210,000.00 in damages based upon accusations that Sprouse sold the investor a structured cash…
Wayne Douglas Rogers of Austin Texas a stockbroker currently employed by Wells Fargo Clearing Services LLC is referenced in a customer initiated investment related written complaint which was settled for $11,544.77 on March 8, 2018 based upon allegations that on January 2, 2018, the customer’s investment instructions were not followed concerning the liquidations of an…
Daniel J. Kempker of Holland Michigan a stockbroker formerly registered with J.J.B. Hilliard W.L. Lyons LLC is referenced in a customer initiated investment related arbitration claim where the customer sought $200,000.00 in damages founded on accusations that unsuitable direct participation program or limited partnership interest products had been sold to the customer which caused the…
Jesse Gil III of Corpus Christi Texas a stockbroker currently registered with Allstate Financial Services LLC is the subject of a Financial Industry Regulatory Authority (FINRA) Wells Notice which indicated that FINRA Department of Enforcement should take disciplinary action against Gil supported by accusations that (1) Gil engaged in outside business activities without disclosing them…
Larry Steven Werbel of Chagrin Falls Ohio a stockbroker formerly registered with Concorde Investment Services LLC has been barred by Securities and Exchange Commission (SEC) from being a stockbroker or investment adviser representative or otherwise associating with securities broker dealers or investment advisories according to an Order Instituting Administrative Proceedings Pursuant To Investment Advisers Act…
Paul Joseph Godlewski of Coatesville Pennsylvania a stockbroker formerly registered with Allstate Financial Services LLC is referenced in a customer initiated investment related arbitration claim which was settled for $28,000.00 in damages supported by allegations that (1) Godlewski solicited a customer’s private placement investment outside the firm’s auspices causing a customer losses and (2) Allstate…
Patrick Nicholas Teutonico of Seaford New York a stockbroker formerly registered with Network 1 Financial Securities Inc. is the subject of a customer initiated investment related arbitration claim in which the customer sought $145,000.00 in damages based upon accusations that (1) Teutonico effected unsuitable transactions in the customer’s account and (2) Network 1 Financial Securities…
Eric A. Keller of Duluth Georgia a stockbroker formerly registered with Wells Fargo Clearing Services LLC is referenced in a customer initiated investment related written complaint which was resolved for $39,587.90 on February 16, 2016 founded on accusations that the customer was placed into a direct participation program or sold limited partnership interests that were…
Bruce Davis Smith of Atlanta Georgia a stockbroker formerly employed by UBS Financial Services Inc. has been discharged by the firm on August 7, 2018 supported by allegations that Smith was not forthcoming to the firm concerning his involvement with a customer in transactions referenced in a Securities Exchange Commission (SEC) inquiry. Financial Industry Regulatory…
Michael Robert Boswell of Gaithersburg Maryland a stockbroker currently employed by Tripoint Global Equities LLC is the subject of a customer initiated investment related civil action brought in the United States District Court for the Southern District of New York which was settled for $400,000.00 founded on allegations that there was a lack of due…
Titan Securities a brokerage firm headquartered in Addison Texas, and Brad Curtis Brooks (the firm’s Chief Executive Officer and President) and Richard Wayne Demetriou (the firm’s registered representative) have been fined by Financial Industry Regulatory Authority (FINRA) according to an Extended Hearing Panel Decision containing findings that (1) misleading or false representations had been made…
George Mackley Robertson of Darien Connecticut a stockbroker formerly registered with Kestra 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 (1) Robertson sold away from Kestra Investment Services (2) Robertson engaged in outside business activities without disclosing them…
Lee Dana Weiss of San Juan Puerto Rico a stockbroker formerly employed by MP Global Inc. and owner of Family Endowment Partners LP (FEP) has been barred by Securities and Exchange Commission (SEC) from being a broker or investment advisor or otherwise associating with brokers or investment advisories according to an SEC Order Instituting Administrative…
Floyd Earl Powell of Albertville Alabama a stockbroker formerly employed by 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 Powell engaged in private securities transactions while associated with the firm. Letter of Acceptance Waiver and Consent No….
William Charles Schumann of Wheaton Illinois a stockbroker currently employed by H. Beck Inc. is referenced in a customer initiated investment related arbitration claim which was resolved for $63,000.00 in damages based upon accusations that Schumann made poor investment recommendations to the customer concerning mutual funds as well as a variable annuity and non-traded real…
Dale Edward Wright of Henrico Virginia a stockbroker currently registered with Cambridge Investment Research Inc. is referenced in a customer initiated investment related arbitration claim in which the customer requested $112,164.00 in damages supported by accusations that (1) trades executed in the customer’s account were not suitable for the customer (2) fiduciary duties were breached…
Yosef Yehuda Fox (also known as Joseph J. Fox) of Chicago Illinois the Chief Executive Officer and Chief Compliance Officer employed by Ditto Trade Inc. has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on allegations that Fox failed to pay an Arbitration Award after having been…
Cantone Research Inc. a FINRA member brokerage firm headquartered in Tinton Falls New Jersey and its president Anthony Joseph Cantone have been sanctioned by Financial Industry Regulatory Authority (FINRA) according to a National Adjudicatory Council Decision containing findings that (1) the firm and Cantone made misrepresentations concerning securities sold through private placements (2) the firm…
Steven Eugene Bonner of Campbell California a stockbroker formerly employed by Principal Securities Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that Bonner neglected to comply with FINRA’s information requests. Case No. 2017052748201 (July 14, 2017). Evidently, FINRA made attempts at procuring information…
James Aloysius Conwell II of Daphne Alabama a stockbroker formerly registered with WFG Investments Inc. is the subject of a customer initiated investment related arbitration claim in which the customer sought $155,000.00 in damages based upon allegations that (1) misrepresentations and omissions were made to the customer concerning private placement stocks and (2) no sufficient…
CSSC Brokerage Services Inc. a brokerage firm headquartered in Troy Michigan has been fined $120,000.00 and suspended by Financial Industry Regulatory Authority (FINRA) for one year from engaging in private securities offerings, and Eric S. Smith (chief executive officer and owner of CSSC) has been barred from associating with any FINRA member in any capacity…
Ralph Richard Von Lutzow of Sarasota Florida a stockbroker formerly registered with Oberweis Securities Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that (1) Von Lutzow engaged in private securities transactions involving customers of the firm (2) Von Lutzow accepted customer…
Jorge A. Reyes of Miami Florida a stockbroker formerly registered with CP Capital Securities has been charged by Financial Industry Regulatory Authority (FINRA) in a Complaint alleging that between May of 2013 and August of 2016, Reyes (1) utilized misleading materials to market private placements (2) advised a customer to purchase a private placement that…
Kevin Richard Wilson of New York New York a stockbroker formerly employed by Laidlaw & Company (UK) Ltd. is referenced in a customer initiated investment related arbitration claim where the customer sought $2,000,000.00 in damages supported by accusations that between 2010 and 2017, private placements sold to the customer were not appropriate. Financial Industry Regulatory…
Spencer Edwards Inc. a brokerage firm headquartered in Centennial Colorado has been censured and fined $495,000.00 and suspended from conducting securities business for forty-five days by Financial Industry Regulatory Authority (FINRA) according to an Extended Hearing Panel Decision containing findings that (1) the firm made unsuitable investment recommendations to customers concerning private placement investments (2)…
Noel Carino of North Kansas City Missouri a stockbroker formerly employed by General Securities 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 cooperate with FINRA’s investigation into accusations of (1) Carino engaging in unapproved outside business activities…
Sandlapper Securities LLC a broker dealer headquartered in Greenville South Carolina and Trevor Gordon (its majority owner and Chief Executive Officer) and Jack Bixler (its Chief Executive Officer) have been sanctioned by Financial Industry Regulatory Authority (FINRA) according to a FINRA Office of Hearing Officers Extended Hearing Panel Decision containing findings that (1) Sandlapper Securities…
The Financial Industry Regulatory Authority released its 2018 Examination Report, showing the areas in which the regulator has taken some form of enforcement action against brokerage firms to prevent them from taking advantage of their customers, and to “better protect investors and maintain the integrity of the markets.” The Recommendation of Unsuitable Investments First, on…
Ricky Steven Geislinger of Watkins Minnesota a stockbroker formerly employed by Berthel Fisher Company Financial Services Inc. is referenced in a customer initiated investment related arbitration claim which settled for $75,000.00 in damages supported by allegations that (1) Geislinger made misrepresentations to the customer concerning the terms and conditions of the investments selected for the…
Stephen Anthony Pierce of Daphne Alabama a stockbroker formerly registered with WFG Investments Inc. is the subject of a customer initiated investment related arbitration claim in which the customer sought $50,000.00 in damages based upon accusations that (1) Pierce made omissions and misrepresentations concerning the customer’s private placement investments and (2) Pierce did not undertake…
Robert Scott Nathan of New York New York a stockbroker registered with TriPoint Global Equities LLC is referenced in a customer initiated investment related arbitration claim where the customer requested $150,000.00 in damages founded on accusations that misrepresentations and unsuitable investment recommendations were made in reference to the customer’s private placement investment in Advance Entertainment…
Omar K. Henry of New York New York a stockbroker formerly employed by Cetera Advisors LLC is referenced in a customer initiated investment related written complaint on April 9, 2018 in which the customer sought $451,844.09 in damages based upon accusations that direct participation program transactions were placed in the customer’s account that were not…
Louis Karl Kittlaus of Chicago Illinois a stockbroker formerly registered with Wall Street Strategies Inc. has been suspended on April 10, 2018 from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on accusations that he failed to confirm with FINRA whether he complied with FINRA Arbitration No. 15-02941 (Dec. 8,…
Myles Reid Blechner of New York New York a former chief compliance officer of Lebenthal Co. LLC has been referenced in a customer initiated investment related arbitration claim in which the customer requested $1,200,000.00 in damages supported by allegations that the customer was placed in private funds that were seized by Securities and Exchange Commission…
Geoffrey Scott McCash of Worthington Ohio a stockbroker formerly employed by Woodbury Financial Services Inc. is referenced in a customer initiated investment related arbitration claim in which the customer requested $350,000.00 in damages founded on allegations that the customer was placed in energy sector private placements that were not suitable for the customer. Financial Industry…
Todd Roland Meier of Inver Grove Heights Minnesota a stockbroker employed by Feltl Company has been discharged by the firm on April 30, 2018 based upon allegations that Meier failed to abide by the procedures and policies of the company. Financial Industry Regulatory Authority (FINRA) Public Disclosure also reveals that a customer initiated investment related…
Brian Joseph Lockett of Lynwood Washington a stockbroker currently employed by Independent Financial Group LLC is the subject of a customer initiated investment related complaint which was resolved for $45,000.00 in damages on July 27, 2016 supported by allegations that unapproved and unsuitable private investment and real estate investment trust transactions had been effected in…
Ralph Willard Savoie of Metairie Louisiana a stockbroker formerly registered with Cambridge Investment Research Inc. has been referenced in a customer initiated investment related arbitration claim where the customer requested $90,000.00 in damages supported by allegations that Savoie effected sales of private placements that were illiquid and ultimately unsuitable for the customer. Financial Industry Regulatory…
John S. Galinksy of Chicago Illinois a stockbroker formerly registered with FinTegra 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 disseminated unfair and unbalanced communications to investors concerning a private securities offering. Letter of Acceptance Waiver…
Kevin Lawrence Barbalace of Columbia Maryland is a stockbroker formerly registered with Dawson James Securities Inc. who is the subject of a customer initiated investment related written complaint on August 30, 2017 where the customer sought $4,952,610.00 in damages supported by accusations that Barbalace made misrepresentations to the customer and placed unsuitable private placement, promissory…
Michael Fitzgerald Dunne of Chicago Illinois is the president of Forest Securities Inc. who is subject of a Financial Industry Regulatory Authority (FINRA) investigation based upon accusations of Dunne’s involvement in private securities transactions and use of unauthorized communication channels relating to a Regulation D offering. FINRA Case No. 20160495874 (Aug. 2, 2017). FINRA Public…
James Bernis Lunsford of Sonoma California is a stockbroker formerly registered with Mid Atlantic Capital Corporation who has been referenced in a customer initiated investment related arbitration claim where the customer sought five hundred thousand dollars in damages supported by allegations that Lunsford sold the customer an unsuitable private placement investment. Financial Industry Regulatory Authority…
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…
Spencer Edwards, Inc., a brokerage firm headquartered in Centennial, Colorado, has been charged by Financial Industry Regulatory Authority (FINRA) in a Complaint alleging that the firm failed to have a reasonable basis to effect private placement sales to customers, and failed to supervise private placement activities. Department of Enforcement v. Spencer Edwards, Inc., Disc. Proceeding…
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…
Victor Carmine Sibilla, of Scottsdale, Arizona, a stockbroker currently registered with Westpark Capital, Inc., is the subject of a customer initiated investment related civil action brought in a state court in Salt Lake City, Utah, where the customer requested $108,400.00 in damages founded on accusations that Sibilla effected the customer’s private placement transaction even though…
Stuart Horowitz, of Coral Springs, Florida, a stockbroker formerly registered with Kestra Investment Services, has been named in a customer initiated investment related arbitration claim, where the customer sought $70,000.00 in damages based upon allegations including the failure to conduct diligence on private placement investments; fraud; unsuitable investment recommendations; and the failure to supervise Horowitz’s…
Gary Charles Haack of San Antonio, Texas, a stockbroker formerly registered with WFG Investments, Inc., is the subject of a customer initiated investment related arbitration claim, which settled on June 17, 2016, for $70,000.00 in damages based on allegations of unsuitability concerning private placement offerings effected in the customer’s account. Financial Industry Regulatory Authority (FINRA) Public…
Christopher Joseph Marnelego, of New York, New York, a stockbroker formerly registered with Buckman, Buckman and Reid, Inc., is the subject of a customer initiated investment related arbitration claim, which settled on January 15, 2016, for $37,500.00 in damages resting on allegations that Marnelego made unsuitable investment recommendations to the customer as well as misrepresentations…
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…
Mark James Stevenson, of New York, New York, a stockbroker formerly registered with Barclays Capital Inc., is the subject of a customer initiated investment related arbitration claim on June 15, 2017, where the customer requested $3,525,460.00 in damages based upon allegations that Stevenson violated Securities Exchange Act of 1934 Section 10(b), breached his fiduciary duties,…
James Joseph Bracey IV, of Martinsville, New Jersey, a stockbroker formerly registered with Multi-Financial Securities Corporation, is the subject of a customer initiated investment related arbitration claim on July 16, 2015, in which the customer requested $803,000.00 in damages based upon allegations against Bracey of negligence, violation of California Securities Law, fraudulent concealment, misrepresentation, and…
Mark Lee Baggerly, of Daphne, Alabama, a stockbroker formerly 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 $730,000.00 in damages based upon allegations that Baggerly made misrepresentations and omissions to the customer, and failed to conduct adequate due…
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…
Trustfirst Inc., a brokerage firm headquartered in Knoxville, Tennessee, has been censured and fined $15,000.00 by Financial Industry Regulatory Authority (FINRA) for providing customers with misleading investment information in reference to unregistered securities offerings. Letter of Acceptance, Waiver and Consent, No. 2014039420301 (June 28, 2017). According to the AWC, offering documents had been submitted by…
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…
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…
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…
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…
Damian Marlon Bell, of Daphne, Alabama, a stockbroker currently registered with WFG Investments, Inc., has been named in a customer initiated investment related arbitration claim on January 19, 2017, in which the customer requested $1,000,000.00 in damages based upon allegations that Bell made misrepresentations and omissions to customers concerning private placements, and failed to adequately…
Nicholas H. Shermeta, of Minneapolis, Minnesota, a stockbroker formerly registered with Northland Securities, Inc., has been permanently barred by the Securities and Exchange Commission (SEC) from working as an investment adviser or broker, or associating with any firm which provides investment advice or sells securities to the public, according to an Order Instituting Administrative And…
Brian Hunter Anderson, of Birmingham, Alabama, a stockbroker formerly registered with LPL Financial LLC, has been named in a customer initiated investment related arbitration claim on May 31, 2016, based upon allegations that Anderson made unsuitable investment recommendations to the customer regarding direct investments and oil and gas products. Financial Industry Regulatory Authority (FINRA)Public Disclosure…
Ross, Sinclaire & Associates, LLC, a broker-dealer headquartered in Cincinnati, Ohio, was censured and fined $214,545.00 by Financial Industry Regulatory Authority (FINRA) based upon consenting to findings that the firm, inter alia: made material omissions regarding municipal offerings; failed to conduct adequate due diligence; and failed to supervise investment offerings. Letter of Acceptance, Waiver and…
Source Capital Group, Inc., a broker-dealer headquartered in Westport, Connecticut, has been charged by Financial Industry Regulatory Authority Department of Enforcement in a Complaint alleging that the firm, inter alia, failed to disclose to investors certain material facts concerning interests in limited partnerships. Department of Enforcement v. Source Capital Group, Inc., No. 2014038889501 (Dec. 23, 2016)….
Texas E&P Partners, a Texas based broker-dealer formerly known as Chestnut Exploration Partners, Inc., has been expelled from Financial Industry Regulatory Authority (FINRA) membership, and the firm’s president, Mark A. Plummer, has been barred from associating with any FINRA member in any capacity according to a FINRA Office of Hearing Officers Extended Hearing Panel Decision…
First American Securities, a broker-dealer headquartered in Orville, Ohio, was censured and fined $150,000.00 by Financial Industry Regulatory Authority (FINRA) after consenting to findings that the firm failed to supervise two private placements offerings. Letter of Acceptance, Waiver and Consent, No. 2015046056405 (Nov. 7, 2016). According to the AWC, the firm had engaged into an agreement…
Jason B. Vanclef, of Culver City, California, a stockbroker currently registered with VFG Securities, Inc., was charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement in a Complaint alleging that Vanclef made investment recommendations to customers based upon false and misleading statements. Department of Enforcement v. Jason Bryce Vanclef, No. 2013038283001 (Feb. 9, 2016)….
McBarron Capital LLC, a broker-dealer headquartered in Greenwich, Connecticut, was charged by Financial Industry Regulatory Authority (FINRA) in a Complaint alleging that the firm failed to supervise suitability determinations pertaining to private placement investments. Department of Enforcement v. McBarron Capital LLC, No. 2015044211103 (Oct. 25, 2016). According to the Complaint, between January of 2011 and…
Will R. Freeman, of Oklahoma City, Oklahoma, a stockbroker formerly registered with Wilbanks Securities, Inc., has been named in a customer initiated investment related arbitration claim on November 24, 2014, in which the customer requested $1,465,000.00 in damages based upon allegations that Freeman effected an unsuitable investment transaction in the customer’s account pertaining to an…
Houlihan Capital, LLC, headquartered in Chicago, Illinois, as well as Andrew Smith, its president, and chief compliance officer, were censured and fined by Financial Industry Regulatory Authority (FINRA) after consenting to findings that the firm and Smith made false statements, omissions, and unwarranted statements concerning the benefits and risks of private placement offerings. Letter of…
John R. Stevens, of Grand Junction, Colorado, is subject to several customer disputes. On February 18, 2016, Stevens became subject to a pending customer dispute, in which the customer requested $300,000.00 after alleging that Stevens had misrepresented aspects of a variable annuity, causing the customer to bear investment losses. On February 5, 2016, another customer…
George P. Koulouris, of Manilus, New York, a stockbroker registered with KCD Financial, Inc., is subject to a pending customer dispute from August 10, 2015, in which a customer alleged that purchases made via Manilus in private placement investments were not suitable for the customer. Public disclosure records also reveal that Koulouris has been subject…
James J. Nixon of Westport, Connecticut, a stockbroker with Terranova Capital Equities, was fined $15,000 and suspended for three months in all capacities from associating with any Financial Industry Regulatory Authority (FINRA) member after consenting to findings that he engaged in unauthorized private securities transactions and made misleading statements to investors. Letter of Acceptance, Waiver…
Liberty Associates, Inc. of New York, New York, was censured and fined $3,500.00 by Financial Industry Regulatory Authority (FINRA) after consenting to findings that the firm had failed to establish, maintain, and enforce adequate supervisory procedures concerning private placements. Letter of Acceptance, Waiver and Consent, No. 2013035239001 (Dec. 29, 2015). According to the AWC, from…
Finance 500, Inc., headquartered in Irvine, California, was censured and fined $85,000 from Financial Industry Regulatory Authority (FINRA) after consenting to findings that the firm had failed to establish, maintain and enforce a supervisory system and written procedures to review and monitor private placements sales practices and materials. Letter of Acceptance, Waiver and Consent, No….
Dennis P. Van Patter of Dallas, Texas, a registered representative with VSR Financial Services, Inc., was fined $10,000 and suspended for forty-five days from association with any Financial Industry Regulatory Authority (FINRA) member in all capacities after consenting to findings that he made unsuitable recommendations to firm customers. Letter of Acceptance, Waiver and Consent, No….
On November 5, 2015, by consent, the Securities and Exchange Commission obtained a judgment against George P. Brown, age 81, in connection with an action against George P. Brown and his son Kevin C. Brown, age 49, both of Pennsylvania, and their related entities, for fraud in connection with the sale of various unregistered securities…
Radnor Research and Trading Company, based in the Philadelphia area, was censured and fined $50,000 per an Order Accepting Offer of Settlement containing findings that Radnor disregarded supervisory obligations that resulted in the failure to meet important reporting, disclosure, and compliance responsibilities. Department of Enforcement v. Radnor Research & Trading Company, et al., No. 2013036681701…
Tracy Neal Wengert from Mesa, Arizona, a stockbroker with Transamerica Financial Advisors, Inc., was permanently barred from association with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he had failed to comply with FINRA’s investigation into allegations against Wengert, including that he opened brokerage accounts outside of his…
Anthony Warren Thompson, chief executive officer and sole member of Thompson National Properties, LLC (of which TNP Securities was a wholly owned subsidiary), was permanently barred by the Financial Industry Regulatory Authority and forced to pay restitution to investors on terms addressed in a Extended Hearing Panel Decision containing findings that Thompson made material omissions…
Red River Securities, LLC., a FINRA member firm from December 8, 2009, from March 5, 2014, operating out of Dallas, TX, employed roughly 14 registered representatives in its broker/dealer capacity. The Firm, along with it’s CEO Brian Keith Hardwick, were charged by FINRA’s Department of Enforcement in a Complaint alleging a myriad of significant violations…