Mark Isidore Lamendola of Cranberry Township Pennsylvania a stockbroker formerly registered with World Capital Brokerage Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that (1) Lamendola made misrepresentations to a customer and falsified documents pertaining to a customer’s annuity purchase and…
Scott Vincent Kaup of Stuart Nebraska a stockbroker formerly registered with VSR Financial Services Inc. is the subject of a customer initiated investment related arbitration claim where the customer requested $2,600,000.00 in damages founded on allegations that (1) misrepresentations and omissions had been made to the customer concerning investments (2) real estate security and direct…
Paul Dennis Benish of Janesville Wisconsin a stockbroker formerly employed by BMO Harris Financial Advisors Inc. is referenced in a customer initiated investment related complaint on September 23, 2016 where the customer sought $44,000.00 in damages based upon allegations that (1) the terms and conditions of a variable annuity investment sold to the customer had…
James Francis Lowe of New York New York a stockbroker and supervisor currently registered with Oppenheimer Co. Inc. is the subject of a customer initiated investment related arbitration claim which was settled for $25,000.00 in damages founded on accusations that Lowe failed to supervise one of the firm’s financial advisors servicing the customer’s account who…
Johnathon Leland Cope of Canton Georgia a stockbroker formerly registered with Invest Financial Corporation is referenced in a customer initiated investment related complaint on February 19, 2016 in which the customer sought $8,015.32 in damages supported by allegations that Cope effected the sale of a mutual fund in the customer’s account without procuring the customer’s…
NTB Financial Corporation of Centennial Colorado has been censured and fined $45,000.00 by Financial Industry Regulatory Authority (FINRA) supported by allegations that the firm overcharged customers on corporate bond transactions. Letter of Acceptance Waiver and Consent No. 2015047738901 (Dec. 10, 2018). Letter of Acceptance Waiver and Consent No. 2015047738901 (Dec. 10, 2018). According to the…
Gary T. Plessl of Allentown Pennsylvania a stockbroker formerly registered with LPL Financial LLC is referenced in a customer initiated investment related arbitration claim on February 28, 2017 where the customer sought $250,000.00 in damages based upon allegations that (1) misrepresentations had been made to the customer concerning the customer’s investments in variable annuities and…
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…
Richard Steven Babjak Jr. of Arlington Heights Illinois the president of World Equity Group Inc. is referenced in a customer initiated investment related arbitration claim which was resolved for $14,500.00 in damages supported by accusations that contractual obligations to the customer had been breached and the customer’s account was handled in a negligent manner. Financial…
Richard William Schloss of Canton Ohio a stockbroker formerly employed by Wells Fargo Clearing Services LLC is the subject of a customer initiated investment related arbitration claim which was settled to resolve allegations that Schloss inappropriately placed the customer’s assets in a variable annuity which exposed the customer to unnecessary surrender penalties and illiquidity. Financial…
Craig Robert Kowitt of Libertyville Illinois a stockbroker formerly registered with BMO Harris Financial Advisors Inc. is referenced in a customer initiated investment related arbitration claim in which the customer requested as much as $70,000.00 in damages supported by allegations that Kowitt breached his contractual obligations to the customer and violated regulatory rules and securities…
Ahmet Kildis of Hudson Florida a stockbroker formerly registered with SunTrust Investment Services Inc. has been discharged by the firm on March 13, 2018 based upon accusations that Kildis modified a customer’s signed documentation in violation of the firm’s policies. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Kildis has been identified in two…
Gregory Joseph Rusnak of St. Charles Illinois a stockbroker formerly registered with Sigma 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 Rusnak executed unauthorized trades in the accounts of Sigma Financial Corporation customers. Letter of Acceptance…
Sebastian George Bongiovanni of Staten Island a stockbroker currently employed by Newbridge Securities Corporation is referenced in a customer initiated investment related arbitration claim which was resolved for $91,000.00 in damages supported by accusations that (1) investment recommendations made to the customer were not suitable (2) unauthorized trades were executed in the customer’s account (3)…
Aaron Lupuloff of Atlanta Georgia a stockbroker formerly registered with Sterne Agee Leach Inc. is referenced in a customer initiated investment related arbitration claim in which the customer requested $5,005,000.00 in damages based upon allegations that the customer was defrauded by being sold taxable revenue bonds. Financial Industry Regulatory Authority (FINRA) Arbitration No. 18-02134 (Aug….
Kai Chong Cheng of New York New York a stockbroker formerly employed by Merrill Lynch Pierce Fenner Smith Inc. and investment adviser representative and president of Affinity Capital Management LLC has been fined $10,000.00 and suspended for five years from registering as an investment advisor according to a New Jersey Bureau of Securities Administrative Consent…
Kenneth A. Rubin of Danbury Connecticut a stockbroker formerly registered with Oppenheimer Co. Inc. is referenced in a customer initiated investment related arbitration claim which was resolved for $12,500.00 in damages founded on accusations that Rubin made unsuitable options recommendations to the customer. FINRA Arbitration No. 16-03278 (Apr. 19, 2017). Financial Industry Regulatory Authority (FINRA)…
Dennis Allen Hayes of Melville New York a stockbroker formerly registered with Newbridge Securities Corporation has been charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement in a Complaint alleging that (1) Hayes sold away from Newbridge Securities Corporation (2) Hayes failed to document his communications with the firm regarding his activities and (3)…
Julie Ann Smith of Durham North Carolina a stockbroker formerly registered with Ameriprise Financial Services Inc. is the subject of a customer initiated investment related complaint which was resolved on November 16, 2018 for $115,966.29 in damages supported by allegations that Smith utilized an unsuitable market-timing investment strategy involving non-traditional investments which included (1) derivatives…
Marilyn Ruth Zehntner of Forth Worth Texas a stockbroker currently registered with Rhodes Securities Inc. is the subject of a customer initiated investment related arbitration claim in which the customer sought $250,000.00 in damages founded on allegations that fiduciary duties owed to the customer had been breached; trades effected in the customer’s account were not…
Merrill Lynch Pierce Fenner Smith Inc. a brokerage firm headquartered in New York New York has been censured and fined $300,000.00 by Financial Industry Regulatory Authority (FINRA) based upon the firm’s consent to findings that it failed to supervise a registered representative who defrauded a customer of the firm. Letter of Acceptance Waiver and Consent…
Nicola Ottavio Caporaso of Melville New York a stockbroker formerly registered with MML Investors is referenced in a customer initiated investment related written complaint which was resolved for $20,000.00 on January 26, 2018 supported by allegations that (1) Caporaso inappropriately advised customers to surrender their annuity investments and use the proceeds for managed account investments…
John Jeffrey Clay of Washington District of Columbia a stockbroker formerly registered with Morgan Stanley Smith Barney is referenced in a customer initiated investment related written complaint on January 25, 2017 in which the customer sought unspecified damages based upon allegations that the customer was inappropriately sold a variable annuity investment in July of 2016….
Morgan Stanley Smith Barney LLC a brokerage firm headquartered in New York New York has been censured and fined $10,000,000.00 by Financial Industry Regulatory Authority (FINRA) based in part upon the firm’s consent to findings that it failed to supervise its penny stock sales to ensure compliance with federal securities law. Letter of Acceptance Waiver…
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…
Glenn Eugene Kendall of Tinley Park Illinois a stockbroker formerly registered with Sigma Financial Corporation is the subject of a customer initiated investment related written complaint on August 4, 2016 where the customer requested $40,000.00 in damages based upon allegations that between 2015 and 2016: (1) Kendall excessively traded over-the-counter equities and stocks in the…
Veronica Lopez-Lopez (also known as Rosa Veronica Lopez-Lopez) of Miami Florida a stockbroker currently employed by Morgan Stanley is referenced in a customer initiated investment related written complaint on October 16, 2016 where the customer requested unspecified damages based upon allegations that Lopez-Lopez effected inappropriate exchange traded funds and corporate debt transactions in the customer’s…
Jerry Michael Rayburn of Lake Grove New York a stockbroker currently registered with J.P. Morgan Securities LLC is the subject of a customer initiated investment related arbitration claim in which the customer sought $74,927.40 in damages founded on accusations that (1) misrepresentations had been made to the customer concerning the customer’s investments in mutual funds…
Marie P. Goforth of San Antonio Texas a stockbroker formerly employed by LPL Financial LLC has been suspended by the Texas State Securities Commissioner from engaging in securities business in the State of Texas according to findings that Goforth maintained blank forms signed by customers and reused customer signatures to effect securities transactions. Acceptance Waiver…
Matthew Stanley Sinclair of Elmsford New York a stockbroker currently registered with MML Investors Services LLC has been fined by State of New York Department of Financial Services supported by accusations that Sinclair gave a customer life insurance documentation containing false information. Case No. 2017-0056-S (May 19, 2017). Financial Industry Regulatory Authority (FINRA) Public Disclosure…
William Richard Berkowitz of Pittsburg Pennsylvania a stockbroker currently registered with BPU Investment Management Inc. is the subject of a customer initiated investment related written complaint on January 9, 2017 where the customer sought $6,100.00 in damages based upon accusations that (1) Berkowitz executed the liquidation of the customer’s accounts without the customer’s permission and…
Carlos Aurelio Alvarado of Houston Texas a stockbroker currently employed by Morgan Stanley is referenced in a customer initiated investment related written complaint on November 8, 2018 where the customer sought unspecified damages supported by accusations that between 2005 and 2018, Alvarado executed corporate debt transactions in the customer’s account that were not suitable for…
John Richard Henderson of Sarasota Florida a stockbroker formerly currently with Merrill Lynch Pierce Fenner Smith Inc. is referenced in a customer initiated investment related written complaint on September 6, 2016 where the customer requested unspecified damages founded on allegations that unauthorized over-the-counter equities trades were effected in the customer’s account. Financial Industry Regulatory Authority…
Alain J. Florestan of New York New York a stockbroker formerly registered with Caldwell International Securities has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity according to a Default Decision containing findings that (1) Florestan made unsuitable investment recommendations to customers and (2) Florestan failed to cooperate in…
Brad Roger Nettune of Summit New Jersey a stockbroker currently registered with Merrill Lynch Pierce Fenner Smith Inc. is the subject of a customer initiated investment related arbitration claim in which the customer sought $6,000,000.00 in damages based upon accusations that (1) the customer’s account was churned and (2) unsuitable over-the-counter equities recommendations were made…
Peter Chris Marketos of Paramus New Jersey a stockbroker formerly employed by Oppenheimer Co Inc. and Raymond James Associates Inc. has been fined $20,000.00 and suspended for one year from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that (1) Marketos made unsuitable investment recommendations to…
Michael C. Rodriguez of Dallas Texas a stockbroker formerly registered with Merrill Lynch Pierce Fenner Smith Incorporated has been named in a customer initiated investment related arbitration claim which settled for $475,000.00 in damages based upon accusations that Merrill Lynch or Rodriguez failed to supervise unit investment trust transactions that were placed in the customer’s…
Brenda Kay Rafferty (also known as Brenda O’Neal) of San Diego California a stockbroker formerly registered with LPL Financial LLC is referenced in a customer initiated investment related arbitration claim where the customer sought $40,000.00 in damages supported by accusations against Rafferty of negligence pertaining to the distribution of the customer’s individual retirement account. Financial…
Susan E. Regan (also known as Susan Marie Eustace) of Westfield New Jersey a stockbroker currently employed by Merrill Lynch Pierce Fenner Smith Inc. is the subject of a customer initiated investment related arbitration claim where the customer requested $140,000.00 in damages founded on allegations that (1) misrepresentations and omissions were made in regard to…
Francine Louise Foerst of Goshen New York a stockbroker currently employed by Stifel Nicolaus Company Inc. is the subject of a customer initiated investment related written complaint on March 6, 2017 in which the customer sought $27,000.00 in damages supported by accusations that the customer was placed in inappropriate stock positions between January of 2015…
Steven Douglas Wood of Warren New Jersey a stockbroker formerly employed by UBS Financial Services Inc. 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 pay a $301,432.00 Arbitration Award after being found liable for defrauding a customer. FINRA…
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…
Mitchell Allen Kurtz of Roslyn Heights New York a stockbroker formerly employed by Henley Company 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 accusations that Kurtz violated Securities and Exchange Commission (SEC) and FINRA…
Garry Charles Hill Jr. of Birmingham Alabama a stockbroker currently registered with Cambridge Investment Research Inc. is the subject of a customer initiated investment related arbitration claim where the customer sought $75,000.00 in damages supported by accusations that (1) a variable annuity transaction was executed in violation of FINRA Rules (2) transactions were effected in the…
Mark Joseph Flanagan of Highland Park Illinois a stockbroker formerly registered with Citigroup Global Markets Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Flanagan obstructed a FINRA investigation into his alleged unauthorized and unsuitable transactions. Letter of Acceptance Waiver and…
William Joseph Dumchus of Westfield New Jersey a stockbroker formerly employed by Wells Fargo Clearing Services LLC is referenced in a customer initiated investment related arbitration claim where the customer requested at least $350,000.00 in damages supported by accusations that between 2006 and 2017, Dumchus placed the customer in an inappropriate stock-based investment strategy. Financial…
Cesar Omar Rodriguez of Bloomingdale Illinois a branch office manager formerly employed by Avenir Financial Group has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by accusations that Rodriguez failed to fully pay an arbitration award to a customer. Case No. 15-02744 (Oct. 23, 2018). FINRA Public…
Sean Joseph Kelly of Marietta Georgia a stockbroker formerly registered with Center Street Securities Inc. and the Chief Executive Officer of Lion’s Share Financial has been charged by Securities and Exchange Commission (SEC) in a Complaint alleging that Kelly defrauded twelve investors who provided him money through Lion’s Share to invest in alternative investments. Securities…
Frank David Sardano of Toms River New Jersey a stockbroker formerly employed by Morgan Stanley Wealth Management has been terminated by the firm on October 1, 2018 founded on accusations that Sardano exercised discretion in the accounts of Morgan Stanley customers. Financial Industry Regulatory Authority (FINRA) Public Disclosure also reveals that on June 3, 2005, a…
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…
Michael Vincent Foley of Upper Arlington Ohio a stockbroker currently registered with Merrill Lynch Pierce Fenner Smith Inc. is referenced in a customer initiated investment related arbitration claim which settled for $28,642.26 in damages founded on accusations that between March of 2010 and June of 2016: (1) misrepresentations were made to the customer concerning mutual…
Richard Anthony Rodriguez Jr, of Fruitland Park Florida a stockbroker currently employed by Concorde Investment Services LLC is the subject of a customer initiated investment related complaint in which the customer requested $200,000.00 in damages supported by allegations that Rodriguez failed to inform the customer about the risks and features of non-traded real estate investment…
Joseph Edward Disanza of Massapequa New York a stockbroker currently employed by NBC Securities Inc. is the subject of a customer initiated investment related complaint on June 19, 2017 in which the customer sought $25,000.00 in damages founded on accusations that Disanza placed the customer in unsuitable stock and real estate investment trust products which…
James King of Winston-Salem North Carolina a stockbroker currently registered with Commonwealth Financial Network is the subject of a customer initiated investment related arbitration claim where the customer sought $470,000.00 in damages supported by allegations of (1) false or misleading statements being made to the customer regarding the returns on mutual fund investments and (2)…
Walter James Keating of Indian Wells California a stockbroker formerly employed by UBS Financial Services Inc. is referenced in a customer initiated investment related written complaint on April 25, 2016 where the customer requested damages estimated to exceed $5,000.00 supported by allegations that (1) Keating omitted information from the customer in regard to the customer’s…
William Lynn Bynum of Trenton Michigan a stockbroker currently employed by Ameriprise Financial Services Inc. is the subject of a customer initiated investment related written complaint on April 28, 2017 in which the customer sought $66,960.73 in damages based upon allegations that (1) misrepresentations had been made to the customer concerning a variable universal life…
Brent Gordon Thompson of Franklin Tennessee a stockbroker currently employed by UBS Financial Services Inc. is referenced in a customer initiated investment related arbitration claim which was resolved for $300,000.00 in damages founded on accusations that between 1995 and 2015: (1) the customer was subject to elder abuse (2) fiduciary duties owed to the customer…
James M. Honaker of Amherst New York a stockbroker formerly registered with Lincoln Financial Advisors Corporation is the subject of a customer initiated investment related arbitration claim in which the customer was awarded $11,316.00 in compensatory damages based upon Honaker having been found liable on the customer’s claims that (1) Honaker executed transactions in the…
Joel Thomas Summerlin of Tampa Florida a stockbroker currently registered with Merrill Lynch Pierce Fenner Smith Inc. is referenced in a customer initiated investment related written complaint which was resolved for $75,000.00 on March 1, 2018 supported by allegations that between June of 2010 and April of 2017: (1) Summerlin made investment recommendations to the…
Eric Grant Demarcus of Sunnyvale California a stockbroker formerly registered with Wells Fargo Advisors LLC is the subject of a customer initiated investment related written complaint on July 17, 2015 where the customer sought damages estimated to exceed $5,000.00 based upon allegations that unit investment trust transactions executed in the customer’s account were not suitable…
William Andrew Doran of Johnston South Carolina a stockbroker currently registered with NYLife Securities LLC is referenced in a customer initiated investment related written complaint which settled for $15,916.72 on June 29, 2017 based upon allegations that Doran forged the customers’ signatures on variable annuity and insurance documents to effect multiple policy purchases between June…
Alan Walton Sharpe of Burlington Massachusetts a stockbroker formerly employed by RBC Capital Markets LLC is the subject of a customer initiated investment related arbitration claim which settled for $225,000.00 in damages supported by allegations that (1) Sharpe made unsuitable oil and gas equities recommendations to the customer and (2) Sharpe churned the customer’s investment…
Patricia Ann Lloyd of Phoenix Arizona a former National Planning Corporation stockbroker and investment adviser representative is referenced in a customer initiated investment related arbitration claim which was resolved for $96,000.00 in damages supported by accusations that (1) contractual obligations to the customer had been breached (2) the customer’s account was transacted upon in a…
John Robert McGinnis of Escondido California a stockbroker formerly employed by RBC Capital Markets is referenced in a customer initiated investment related arbitration claim which was resolved for $652,000.00 in damages supported by accusations that between 2009 and 2015: (1) McGinnis sold the customer private placement investments outside the auspices of RBC Capital Markets (2)…
Michael Montelli of Hauppauge New York a stockbroker currently registered with American Capital Partners LLC is referenced in a customer initiated investment related written complaint on April 11, 2017 in which the customer requested damages estimated to exceed $5,000.00 in damages founded on accusations that (1) margin was utilized without the customer’s permission (2) unauthorized…
Anthony Fusco of New York New York the Chief Executive Officer of Legend 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 FINRA’s investigation into accusations that he failed to supervise the firm’s brokers. Letter…
Vitthal Mathurbmas Patel of Denville New Jersey a stockbroker formerly employed by PFS Investments Inc. has been discharged by the firm on August 27, 2018 founded on accusations that Patel forged a customer’s signature to an account document. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that on December 17, 2002, a customer filed an…
Frank Roland Dietrich, of Lake Forrest, California, formerly associated with Quest Capital Strategies, Inc. was barred by the Financial Industry Regulatory Authority in connection with the sale of Woodbridge Group related securities. Letter of Acceptance Waiver & Consent, No. 2018057197801 (November 26, 2018). Dietrich, betwen 2013 and 2017, was found to have solicited fifty eight…
Ryan John Lawson of Phoenix Arizona a stockbroker formerly registered with Lawson Financial Corporation is referenced in a customer initiated investment related arbitration claim in which he was ordered to pay the customer $7,500.00 in damages based upon Lawson having been found liable on the customer’s claims that (1) Lawson made misrepresentations and omissions to…
Sean Lewis Dobranich of Las Nevada a stockbroker currently employed by Waddell Reed is referenced in a customer initiated investment related written complaint on April 28, 2017 in which the customer requested $25,000.00 in damages founded on allegations that (1) Dobranich over-concentrated the customer’s managed account in inappropriate securities (2) Dobranich neglected to sell the…
James D. Parises of Henderson Nevada a stockbroker currently registered with Wells Fargo Clearing Services LLC is the subject of a customer initiated investment related arbitration claim which was resolved for $65,000.00 in damages supported by allegations that Parises sustained unwarranted investment losses on equities held in the customer’s account. Financial Industry Regulatory Authority (FINRA)…
Susan Louise Wagner of Perrysburg Ohio a stockbroker currently registered with Ameriprise Financial Services Inc. is the subject of a customer initiated investment related written complaint on April 24, 2017 in which the customer requested damages estimated to exceed $5,000.00 based upon accusations that Wagner poorly advised the customer in regard to the customer’s individual…
Bert Thomas Bowler of New Canaan Connecticut a stockbroker formerly registered with Ameriprise Financial Services Inc. was referenced in a customer initiated investment related arbitration claim by where the customer sought $50,000.00 in damages based upon accusations that the customer was poorly advised with respect to the purchase of a variable universal life insurance policy….
Zachary Stephen Reinhart of Bethel Park Pennsylvania a stockbroker formerly employed by Citizens Securities Inc. is referenced in a customer initiated investment related written complaint on September 15, 2017 in which the customer requested damages estimated to exceed $5,000.00 supported by accusations that the customer’s assets were not invested in an individual retirement account in…
Robin Dewayne Walls of Shakopee Minnesota a stockbroker formerly registered with Capital Financial Services Inc. is the subject of a customer initiated investment related arbitration claim which settled for $95,000.00 in damages supported by accusations that Walls sold the customer unsuitable and illiquid alternative investments including oil and gas products and direct participation program or…
Mark John Evans of Mount Laurel New Jersey a stockbroker currently registered with RBC Capital Markets LLC is the subject of a customer initiated investment related complaint on April 13, 2017 where the customer sought damages estimated to exceed $5,000.00 based upon allegations that the customer was placed in an annuity that did not conform…
Gregory Alan Voight of Providence Rhode Island a stockbroker formerly employed by Merrill Lynch Pierce Fenner Smith Inc. is referenced in a customer initiated investment related arbitration claim which was resolved for $75,000.00 in damages founded on allegations that (1) misrepresentations were made to the customer concerning structured products and municipal debt products (2) investment…
Jeffrey John Di Bono of San Jose California a stockbroker currently registered with Wells Fargo Clearing Services LLC is the subject of a customer initiated investment related written complaint on May 11, 2017 in which the customer sought $8,500.00 in damages based upon accusations that Di Bono did not receive investment returns that were promised…
John M. Cullen of Garden City New York a stockbroker formerly registered with Spartan Capital Securities LLC is referenced in a customer initiated investment related arbitration claim where the customer requested $250,000.00 in damages founded on allegations that the customer’s stock account had been overconcentrated by Cullen in speculative equities products. Financial Industry Regulatory Authority…
Sandra Benain McKoy of Lauderdale Lakes Florida a stockbroker formerly registered with SunTrust Investment Services Inc. is referenced in a customer initiated investment related arbitration claim which settled for $50,000.00 in damages supported by accusations that McKoy (1) poorly advised the customer concerning mutual fund and variable annuity products and (2) placed unsuitable transactions in…
Joe Bryan Hall of Berthel Fisher Company Financial Services is the subject of a customer initiated investment related arbitration claim in which the customer requested at least $5,000.00 in damages based upon allegations that the customer was placed in a real estate investment that was not appropriate for the customer given the customer’s objectives for…
Bradley John Freimark of Otsego Minnesota a stockbroker formerly registered with ProEquities Inc. is the subject of a customer initiated investment related arbitration claim which settled for $100,000.00 in damages founded on accusations that (1) misrepresentations were made to the customer and (2) the customer’s assets were inappropriately invested in D&L Energy 2010 Ltd. –…
Jude E. Offiah of Oklahoma City Oklahoma a stockbroker currently registered with Tandem Securities Inc. is referenced in a customer initiated investment related written complaint on May 2, 2017 where the customer sought more than $5,000.00 in damages based upon allegations that omissions had been made to the customer concerning variable annuity and mutual fund…
Michael Jason Ripper of Memphis Tennessee a stockbroker formerly registered with LPL Financial LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by allegations that he neglected to furnish information to FINRA when FINRA formally requested him to do so. Case No. 2015048052801 (May 9, 2017)….
James Keith Muir of Sarasota Florida a stockbroker currently employed by Summit Brokerage Services Inc. is the subject of a customer initiated investment related arbitration claim which was resolved for $27,500.00 in damages based upon accusations that the customer was placed in unsuitable equity products including GPRO STON and BBBQP. Financial Industry Regulatory Authority (FINRA)…
Frank Fornshell Venable III of Knoxville Tennessee a stockbroker currently registered with Morgan Stanley is referenced in a customer initiated investment related arbitration claim in which the customer requested unspecified damages supported by accusations of excessive trading of the customer’s investments including (a) structured products (b) unit investment trusts and (c) mutual funds. Financial Industry…
John Edward Moriarty of Crystal City Missouri a stockbroker formerly employed by National Planning Corporation is referenced in a customer initiated investment related arbitration claim which was resolved for $9,999.00 in damages supported by accusations that (1) fiduciary duties owed to the customer had been breached (2) transactions were placed in the customer’s account that…
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…
Kevin Scott Kellogg of San Diego California a stockbroker currently employed by Ameriprise Financial Services Inc. is the subject of a customer initiated investment related arbitration claim where the customer sought $247,112.52 in damages founded on accusations that (1) fiduciary duties owed to the customer were not abided by (2) unauthorized transactions were placed in…
Christopher Michael Herrmann of Greenwood Indiana a stockbroker formerly registered with Key Investment Services has been fined $10,000.00 and suspended for nine 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 Key Investment Services customers and concealed information…
John Basile Manikas of Chicago Illinois a stockbroker formerly employed by Stifel Nicolaus Company Incorporated is the subject of a customer initiated investment related arbitration claim which settled for $342,500.00 in damages founded on allegations that (1) the customer had been defrauded (2) contractual obligations had been breached (3) the customer’s account was handled negligently…
David Francis Faline of Boca Raton Florida a stockbroker formerly registered with NewBridge Securities Corporation is referenced in a customer initiated investment related arbitration claim which settled for $80,000.00 in damages founded on accusations that Faline provided the customer with poor advice in reference to common or preferred stock held in the customer’s investment account…
John Scott Simoncic of Reno Nevada a stockbroker formerly employed by Financial West Group has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that (1) Simoncic made exchange traded fund recommendations that were not suitable for customers (2) Simoncic effected excessive exchange traded…
Billy Edward Foster of United Planners’ Financial Services of America is referenced in a customer initiated investment related arbitration claim which was resolved for $100,000.00 in damages based upon allegations that (1) unsuitable investment recommendations had been made to the customer concerning a direct participation program or limited partnership interests and (2) United Planners Financial…
Lazaro Armando Fernandez Paredes of Dorchester Massachusetts a stockbroker formerly registered with Santander Securities LLC is referenced in a customer initiated investment related arbitration claim where the customer requested $100,000.00 in damages founded on accusations that (1) transactions were executed in the customer’s account that were not suitable for the customer (2) the customer’s account…
Scott Alan Kimmel of Fort Worth Texas a stockbroker currently employed by Principal Securities Inc. is the subject of a customer initiated investment related arbitration claim where the customer alleged that Kimmel breached a fiduciary duty owed to the customer in reference to an employer stock options plan investment allocation. Financial Industry Regulatory Authority (FINRA)…
Woodley Hannon Bagwell of Montgomery Alabama a stockbroker formerly registered with Raymond James Associates Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by accusations that he failed to honor FINRA’s requests for Bagwell’s information. Letter No. 20160520299901 (September 18, 2017). FINRA Public Disclosure confirms that…
Alex Jose Gierbolini of Guaynabo Puerto Rico a stockbroker currently employed by Merrill Lynch Pierce Fenner Smith Incorporated is referenced in a customer initiated investment related arbitration claim in which the customer sought $265,000.00 in damages founded on accusations that misrepresentations had been made to the customer and mutual fund transactions were placed in the…
Jody Bryant Bowers of Abilene Texas a stockbroker formerly registered with Lowell Company Inc. is referenced in a customer initiated investment related arbitration claim where the customer sought $6,000,000.00 in damages founded on allegations that (1) Bowers overconcentrated the customer’s assets in exchange traded funds over a six year period by failing to adjust the…
John Michael Shields of Palm Desert California a stockbroker currently employed by Hightower Securities LLC is referenced in a customer initiated investment related arbitration claim in which the customer requested $750,000.00 in damages supported by allegations that in reference to the customer’s investment advisory account and variable annuity investments: (1) the customer’s account was handled…
Robert G. Nash of Altamonte Springs Florida the former compliance officer for Merrimac Corporate Securities Inc. has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on allegations that he failed to confirm with FINRA whether he had complied with FINRA Arbitration No. 16-01128 (May 11, 2018) in…
Thomas Milo Ayer of Oakland California a stockbroker formerly registered with SA Stone Wealth Management Inc. has been discharged on August 25, 2017 founded on accusations that Ayer solicited low-priced securities in violation of SA Stone Wealth Management’s policies. Financial Industry Regulatory Authority (FINRA) Public Disclosure additionally confirms that on May 10, 2017, a customer…
Gary Gustave Benson of Encino California a stockbroker currently employed by NPB Financial Group LLC is referenced in a customer initiated investment related written complaint on August 22, 2017 where the customer sought unspecified damages supported by allegations that (1) unauthorized mutual fund trades were executed in the customer’s account and (2) transactions were effected…
Richard Paul Martin of Wappinger Falls New York a stockbroker currently registered with Ameriprise Financial Services Inc. is the subject of a customer initiated investment related written complaint on August 23, 2017 where the customer sought $43,661.73 in damages based upon allegations that from June 2012 to August 2014, Martin sold the customer annuities that…
Joseph Vincent Copploe of Youngstown Ohio a stockbroker formerly employed by Lincoln Investment Planning has been discharged by the firm on August 25, 2017 supported by a customer’s allegations that Copploe defrauded the customer in the course of effecting the surrender of a life insurance policy. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that…
Bert Allen Cooper of Peoria Arizona a stockbroker formerly employed by WFG Investments Inc. is the subject of a customer initiated investment related arbitration claim where the customer requested $50,000.00 in damages supported by accusations that misrepresentations had been made to the customer concerning direct participation program and limited partnership interest risks at the time…
William Hennion of Parsippany New Jersey the current vice president of Hennion Walsh Inc. is referenced in a customer initiated investment related arbitration claim where the customer sought $50,000.00 in damages founded on allegations that inappropriate municipal debt investment recommendations had been made to the customer. Financial Industry Regulatory Authority (FINRA) Arbitration No. 18-01082 (Mar….
Jon Richard Pariser of Pacific Grove 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 consenting to findings that he failed to cooperate with FINRA’s investigation into Pariser’s referral of customers to an unregistered individual who…
Matthew James Ladendecker of Kingman Arizona a stockbroker currently registered with Edward Jones is the subject of a customer initiated investment related written complaint which was resolved for $15,172.00 on June 7, 2018 supported by accusations that Ladendecker made misrepresentations to the customer concerning the tax consequences of making a distribution from the customer’s individual…
Wesley Justin Foltz of Alexandria Louisiana a stockbroker formerly employed by Prospera 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 Foltz lacked an adequation foundation to conclude that his variable annuity recommendations were suitable for…
Dean Robert Nowak of Winter Park Florida a stockbroker currently registered with Taylor Capital Management Inc. is referenced in a customer initiated investment related written complaint on September 11, 2018 in which the customer sought $6,000.00 in damages supported by accusations that (1) Nowak placed the customer in stocks and annuity investments that were not…
Timothy Luke Wynne of Minnetonka Minnesota a stockbroker currently employed by Feltl Company is referenced in a customer initiated investment related arbitration claim where the customer sought $441,306.00 in damages based upon accusations that between February of 2014 and June of 2016: (1) fiduciary duties owed to the customer had been breached (2) unauthorized stock…
Robert William Griffin of Poetry Texas a stockbroker formerly employed by Cantella Co. Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by allegations that he failed to provide FINRA with information that had been requested of him. FINRA Public Disclosure confirms that Griffin had been…
Brian David Schwartz of New York New York a stockbroker currently employed by HSBC Securities (USA) Inc. is referenced in a customer initiated investment related written complaint which was resolved for $10,000.00 on October 3, 2017 supported by allegations that transactions were placed in the customer’s account that were not suitable for the customer because…
Kevin Paul Lemmon of Baton Rouge Louisiana a stockbroker currently registered with Bankers Life Securities Inc. is the subject of a customer initiated investment related written complaint on July 18, 2017 where the customer sought compensatory damages supported by accusations that Lemmon effected the unauthorized purchase of a fixed annuity. Financial Industry Regulatory Authority (FINRA)…
Anthony Joseph Ferrara of St. Louis Park Minnesota a stockbroker formerly employed by Larson Financial Securities LLC is referenced in a customer initiated investment related written complaint on July 18, 2017 in which the customer requested unspecified damages based upon accusations that (1) omissions had been made to the customer regarding a variable universal life…
David Lee of Flushing New York a stockbroker formerly registered with Cetera Investment Services LLC is referenced in a customer initiated investment related complaint on September 12, 2018 in which the customer requested $15,000.00 in damages based upon accusations that (1) unwarranted investment losses were incurred by the customer on real estate security investments and…
John Patrick Priebe of Waseca Minnesota a stockbroker currently registered with Principal Securities Inc. (also known as Princor Financial Services Corporation) is the subject of a customer initiated investment related arbitration claim where the customer sought $900,000.00 in damages based upon accusations that (1) Priebe executed mutual fund and options transactions in the customer’s account…
Kyle Michael Marburger of Carmel Indiana a stockbroker formerly employed by Valic Financial Advisors Inc. has been discharged by the firm on December 27, 2016 founded on allegations that Marburger forged a customer’s signature on annuity documentation to establish an annuity contract. Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that approximately one month before…
Ronald Dewayne Smith Jr. of Austin Texas a stockbroker formerly employed by Ameriprise Financial Services Inc. is the subject of a customer initiated investment related arbitration claim where the customer sought $136,239.00 in damages based upon allegations that Smith poorly advised the customer concerning CNL Lifestyle Properties Real Estate Investment Trust. Financial Industry Regulatory Authority…
Jose Luis Paula of Tampa Florida a former NYLife Securities LLC registered representative 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 attempted to settle a customer’s complaint away from New York Life. According to the AWC, Paula…
Danilo Dereck Fuentes of Columbia Maryland a stockbroker currently registered with Dawson James Securities, Inc. is referenced in a customer initiated investment related arbitration claim in which Fuentes was found liable on the customer’s claims of (1) breach of contract (2) breach of fiduciary duty (3) negligence and (4) suitability concerning the customer’s investments in…
Thomas Brian Healy of Albany New York a stockbroker formerly registered with Merrill Lynch Pierce Fenner Smith Inc. has been discharged on July 24, 2017 supported by allegations that Healy failed to comply with Merrill Lynch’s policies and trainings. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Healy has been identified in three customer…
Gail Ann Kincannon of Austin Texas a stockbroker formerly registered with NYLife Securities LLC is referenced in a customer initiated investment related written complaint on July 30, 2018 in which the customer requested $39,388.32 in damages supported by accusations that Kincannon had misrepresented the holding period and fees pertaining to a variable annuity purchased by…
Rey Whitehorn of Hallandale Florida a stockbroker currently employed by LPL Financial LLC is referenced in a customer initiated investment related arbitration claim in which the customer sought more than $5,000.00 in damages supported by allegations that unsuitable corporate-debt transactions were executed in the customer’s account. Financial Industry Regulatory Authority (FINRA) Arbitration No. 18-01192 (Apr….
Jay R. Weiser of Collinsville Illinois a stockbroker formerly employed by Despain Financial Corporation has been discharged by the firm on June 22, 2018 based upon customers’ allegations that Weiser sold them life insurance products and regulation D investment products that were inappropriate for the customers. Financial Industry Regulatory Authority (FINRA) Public Disclosure additionally confirms…
Ian Greenblatt of Melville New York a stockbroker currently registered with Capitol Securities Management 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 resolved a customer’s complaint away from Capitol Securities Management Inc. Letter of Acceptance Waiver…
Larry Jefferson Tolbert of Memphis Tennessee a stockbroker formerly registered with FSC Securities Corporation is the subject of a customer initiated investment related arbitration claim which was resolved for $45,000.00 in damages founded on allegations that Tolbert put the customer in real estate investment trust products despite those securities having been inappropriate for the customer’s…
William Aubrey Morrow of San Diego California a stockbroker formerly registered with Independent Financial Group LLC is referenced in a customer initiated investment related arbitration claim which was resolved for $100,000.00 in damages based upon accusations that (1) unregistered tenant in common investments had been sold to the customer (2) the customer’s account transactions lacked…
Steven David Schultz of Palm Beach Gardens Florida a stockbroker currently employed by Oppenheimer Co. Inc. is referenced in a customer initiated investment related arbitration claim in which the customer sought $750,000.00 in damages based upon allegations of (1) the failure to supervise securities transactions placed in the customer’s account (2) misrepresentation (3) breach of…
Bryon Leonel Reyes of Lafayette Louisiana a stockbroker formerly employed by UBS Financial Services Inc. has been discharged by the firm on April 26, 2018 supported by allegations that (1) Reyes failed to inform UBS about his outside business activities and investments after Reyes had already been reprimanded by the firm for his non-disclosures and…
Richard Mark Braverman of Lancaster Pennsylvania a stockbroker currently registered with Geneos Wealth Management Inc. is referenced in a customer initiated investment related arbitration claim where the customer sought unspecified damages based upon accusations that (1) omissions had been made regarding the risks of investing in direct investments and real estate investments (2) fiduciary duties…
Aaron Bronelle Wilbanks of Oklahoma City Oklahoma the former president and chief executive officer of Wilbanks Securities has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on allegations that Wilbanks failed to confirm with FINRA if he complied with paying a customer damages under FINRA Arbitration No….
Michael John Rappa of San Diego California a stockbroker formerly registered with Foresters Equity Services Inc. is referenced in a customer initiated investment related arbitration claim where the customer requested $75,000.00 in damages supported by accusations that Rappa poorly advised the customer concerning real estate security transactions executed away from the firm. Financial Industry Regulatory…
Thomas Harry Eades of Dallas Texas a stockbroker formerly registered with RBC Capital Markets LLC is the subject of a customer initiated investment related written complaint on March 29, 2018 in which the customer sought damages estimated to exceed $5,000.00 based upon allegations that (1) Eades over-concentrated the customer in energy sector master limited partnerships…
Ira Gary Chernick of Woodbury New York a stockbroker currently employed by Cetera Advisors Networks LLC a is the subject of a customer initiated investment related complaint that was settled on December 8, 2017 to resolve allegations that Chernick placed the customer in an inappropriate variable annuity product and made misrepresentations about the product. Financial…
Michael Harry Applebaum of Marlton New Jersey a stockbroker currently employed by Janney Montgomery Scott LLC is referenced in a customer initiated investment related written complaint on July 30, 2018 in which the customer sought $15,000.00 in damages supported by accusations that the customer’s risk tolerance was not considered when Applebaum made over-the-counter equities recommendations…
Jerry Davis Raines of Kilgore Texas a stockbroker formerly employed by HD Vest Investment Services has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Raines failed to cooperate with FINRA in an investigation into allegations of his sales of notes pertaining to…
Thomas Von Reckers of Lakewood Colorado a stockbroker formerly employed by Wells Fargo Advisors Financial Network LLC is referenced in a customer initiated investment related civil action in which the customer sought more than $5,000.00 in damages supported by allegations that Reckers misrepresented the terms and conditions of loan products in addition to the investments…
Arnold Mariampolski of Woodbury New York a stockbroker currently employed by AXA Advisors LLC is the subject of a customer initiated investment related written complaint on July 6, 2018 where the customer sought unspecified damages founded on accusations that the customer was placed in an insurance policy that failed to address her financial objectives. Financial…
Jerry P. Michna of Louisville Ohio a stockbroker formerly employed by Questar Capital Corporation is the subject of a customer initiated investment related written complaint on July 23, 2018 where the customer requested $250,000.00 in damages based upon accusations that energy-sector equity purchases were executed in the customer’s account that were not suitable for the…
Philip John Nalesnik of Pottsville Pennsylvania a stockbroker formerly registered with LPL Financial LLC has been discharged by the firm on July 8, 2018 supported by allegations that Nalesnik engaged in outside business activities in violation of LPL Financial’s policy, and failed to be forthcoming to the firm when questioned about his activities. Financial Industry…
William Sidney Friedman of Boca Raton Florida a stockbroker formerly registered with Newbridge Securities Corporation is referenced in a customer initiated investment related arbitration claim which settled for $10,000.00 in damages supported by accusations that Friedman (1) engaged in inappropriate equity trading in the customer’s account (2) breached his fiduciary duties to the customer (3)…
Charles Paul Buland of Tulsa Oklahoma a stockbroker currently employed by Merrill Lynch Pierce Fenner and Smith Inc. is referenced in a customer initiated investment related written complaint which was resolved for $18,000.00 on August 21, 2018 supported by accusations that misrepresentations had been made to the customer between June of 2008 and August of…
Robert Matthew Krieger of New York New York a stockbroker formerly employed by 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 outside business activities without disclosing them to LPL Financial. Letter of…
Bradley Clyde Fischer of Troy Michigan a stockbroker currently registered with LPL Financial LLC is the subject of a customer initiated investment related arbitration claim in which the customer sought $450,000.00 in damages supported by allegations that unsuitable real estate investment trust transactions were effected in the customer’s investment account which caused the customer to…
Andre Pierre Davis of Red Bank New Jersey a stockbroker currently registered with First Standard Financial Company LLC is the subject of a customer initiated investment related arbitration claim where the customer sought $100,000.00 in damages based upon allegations that unsuitable transactions were executed and the customer’s account was churned. Financial Industry Regulatory Authority (FINRA)…
Leonardo Max Garcia of Coral Cables Florida a stockbroker formerly employed by SunTrust Investment Services Inc. is referenced in a customer initiated investment related complaint that was settled on August 28, 2018 for $17,875.00 in damages supported by accusations that (1) the customers were not provided information concerning the features and fees of variable annuity…
Patrick Timothy Walsh of Parsippany New Jersey a stockbroker currently registered with Hennion Walsh Inc. is the subject of a customer initiated investment related arbitration claim where the customer requested $100,000.00 in damages founded on accusations that municipal-debt transactions executed in the customer’s account were not suitable for the customer. Financial Industry Regulatory Authority (FINRA)…
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…
Donald Anthony Sanders of Houston Texas a stockbroker formerly employed by Sanders Morris Harris LLC is referenced in a customer initiated investment related arbitration claim which was resolved for $18,000.00 in damages supported by accusations that Sanders executed an investment strategy involving stock trading that failed to conform to the customer’s objectives for investing. Financial…
Steve Jeffrey Cummings of Fort Deposit Alabama a stockbroker formerly employed by Berthel Fisher Company Financial Services Inc. is referenced in a customer initiated investment related arbitration claim where the customer requested $300,000.00 in damages founded on accusations that (1) Cummings misled the customer concerning direct investment products (2) Cummings placed the customer in inappropriate…
Todd Joseph Thompson of Atlanta Georgia a stockbroker formerly registered with SunTrust Investment Services Inc. is referenced in a customer initiated investment related arbitration claim which was resolved for $40,000.00 in damages supported by allegations that (1) Thompson executed transactions in the customer’s account that were not suitable for the customer and (2) SunTrust Investment…
Thomas Joseph Logue Jr. of Hinsdale Illinois a stockbroker formerly employed by American Independent Securities Group 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 recorded testimony for FINRA in the course of an investigation into Logue’s…
Marc Anthony Last of Berwyn Pennsylvania a stockbroker formerly registered with NYLife Securities LLC has been charged by Financial Industry Regulatory Authority (FINRA) in a Complaint alleging that he converted a customer’s funds from the customer’s variable annuity. Department of Enforcement v. Marc Anthony Last Disciplinary Proceeding No. 2016052434001 (Sept. 17, 2018). According to the…
William K. Tress (also known as William K. Tress Garcia) of Dorchester Massachusetts a stockbroker formerly employed by Santander Securities is the subject of a customer initiated investment related arbitration claim where the customer requested $111,522.41 in damages based upon accusations including (1) gross negligence (2) breach of contract (3) failure to supervise (4) breach…
Thomas Ohearn Eifler Sr. of Louisville Kentucky a stockbroker formerly registered with The Investment Center Inc. has been terminated from the firm on February 28, 2017 founded on accusations against Eifler of breach of contract and fraud as referenced in a civil action filed against Eifler. Financial Industry Regulatory Authority (FINRA) Public Disclosure additionally reveals that…
Perry Allen Gallagher Sr of Santa Rosa California a stockbroker currently employed by Western International Securities, Inc. is the subject of a customer initiated investment related written complaint on November 16, 2017 in which the customer sought $38,500.00 in damages based upon accusations that unwarranted investment losses were incurred in the customer’s account between February…
Christopher James Lubbers of Parsons Kansas a stockbroker formerly registered with National Planning Corporation is referenced in a customer initiated investment related written complaint on May 20, 2015 where the customer requested $70,000.00 in damages based upon allegations that (1) the customer was provided bad advice by Lubbers with regard to the customer’s insurance contract…
Gary Jesse Deardorff of Peoria Arizona a stockbroker formerly employed by National Planning Corporation is the subject of a customer initiated investment related written complaint on February 28, 2017 in which the customer sought damages estimated to exceed $5,000.00 in damages founded on allegations that Deardorff executed unsuitable mutual fund and equity transactions in the…
Steven Edward Sousa of Tustin California a stockbroker formerly registered with Lincoln Financial Securities Corporation is the subject of a customer initiated investment related written complaint on May 31, 2016 that was resolved for $10,000.00 in damages founded on accusations that Sousa made misrepresentations to the customers concerning Sousa’s execution of withdrawals from the customer’s…
Kenneth James Delacruz Jr. of East Hartford Connecticut a stockbroker formerly employed by Foresters Financial Services Inc. has been discharged on August 18, 2017 based upon accusations that Sousa concealed from the firm that he received a letter from an attorney regarding a customer who had complained about misconduct. Foresters Financial stated that Sousa failed…
Robert Bruce Cline of Rochester Michigan a stockbroker formerly employed by Oppenheimer Co. Inc. is the subject of a customer initiated investment related arbitration claim in which the customer requested more than $5,000.00 in damages based upon allegations that between 2007 and 2017: (1) fiduciary obligations to the customer were breached (2) the customer’s penny…
Michael Joseph Kane III of Allen Texas a stockbroker currently registered with BBVA Securities Inc. is referenced in a customer initiated investment related written complaint on November 27, 2017 in which the customer sought damages estimated to exceed $5,000.00 based upon accusations that in September of 2017, a structured note purchase was not suitable for…
Scott Allen Damico of Garland Texas a stockbroker formerly registered with Capital One Investing is the subject of a customer initiated investment related written complaint which was resolved for $24,598.47 on March 13, 2017 supported by accusations that Damico was provided inaccurate information concerning her managed account investment. Financial Industry Regulatory Authority (FINRA) Public Disclosure…
Joseph Lianzo of Melville New York a stockbroker currently registered with SW Financial is referenced in a customer initiated investment related arbitration claim where the customer requested $108,215.00 in damages supported by allegations that (1) contractual obligations to the customer were breached (2) unauthorized trades were executed in the customer’s account (3) the customer’s account…
Ryan Christopher Faley of Huntington Station New York a stockbroker formerly employed by LPL Financial LLC is the subject of a customer initiated investment related arbitration claim that settled for $29,750.00 in damages based upon allegations that Faley made equity investment recommendations to the customer that were not suitable. Financial Industry Regulatory Authority (FINRA) Arbitration…
Wilson Henry Williams of Dallas Texas a stockbroker and principal registered with WFG Investments Inc. is referenced in a customer initiated investment related arbitration claim where the customer requested $236,081.00 in damages supported by accusations of the failure to supervise the customer’s investments in direct participation program or limited partnership interests. Financial Industry Regulatory Authority…
Stephen James Landersman of Harrisburg Pennsylvania a stockbroker currently registered with CUSO Financial Services L.P. is referenced in a customer initiated investment related written complaint on January 10, 2018 which was resolved for $8,000.00 in damages based upon allegations that the customer’s instructions were not followed with respect to the liquidation and transfer of the…
World Equity Group Inc. a brokerage firm headquartered in Arlington Heights Illinois has been censured and fined $100,000.00 by Financial Industry Regulatory Authority (FINRA) supported by accusations that the company failed to supervise its registered representatives’ variable annuities recommendations to ensure that they were suitable for customers in compliance with securities regulations and FINRA Rules….
Daniel Charles Stewart of Shawnee Kansas a stockbroker formerly employed by VSR Financial Services Inc. is the subject of a customer initiated investment related arbitration claim that was resolved for $18,750.00 in damages supported by accusations that Stewart failed to timely execute the customer’s investment related instructions which caused the customer to incur losses. Financial…
James Orth Davis of San Francisco California a stockbroker currently employed by Centaurus Financial, Inc. is referenced in a customer initiated investment related civil action in which the customer sought unspecified damages based upon accusations including (1) negligent misrepresentation (2) omissions of information (3) fraud (4) breach of fiduciary duty and (5) violation of California…
James Arthur Kujawski of Annapolis Maryland a stockbroker formerly employed by UBS Financial Services 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 engaged in private securities transactions and outside business activities. Letter of…
Nicholas Michael Bonacci of New York New York a stockbroker formerly employed by Morgan Stanley Co. LLC is the subject of an SEC Order requiring Bonacci (1) be suspended for twelve months from associating with any broker or investment adviser (2) pay a $100,000.00 civil penalty and (3) cease and desist from committing current and…
Reynold Phillip Flom of Folsom California a stockbroker currently registered with Wells Fargo Clearing Services LLC is referenced in a customer initiated investment related written complaint which settled for $33,206.17 in damages on November 1, 2017 based upon allegations that on January 26, 2017, over-the-counter equities were sold from the customer’s account without the customer’s permission….
Gregory Scott Young of Columbia South Carolina a stockbroker formerly registered with Comprehensive Asset Management and Servicing Inc. has been terminated from the firm on October 10, 2017 founded on accusations that Young violated Financial Industry Regulatory Authority (FINRA) rules and the firm’s policy by failing to inform the firm about being named in a…
Kodi Robert Hermann of Tualatin Oregon a stockbroker formerly registered with LPL Financial LLC has been named in a customer initiated investment related arbitration claim in which the customer was awarded $9,064.03 in compensatory damages and $1,500.00 in attorneys’ fees founded on accusations of (1) breach of contract (2) negligence (3) violation of FINRA Rules…
Patrick George Colligan of Stamford Connecticut a stockbroker currently employed by Oppenheimer Co. Inc. is referenced in a customer initiated investment related written complaint on October 24, 2017 in which the customer sought at least $5,000.00 in damages based upon accusations that between November 1, 2016 and May 31, 2017, municipal debt and corporate debt…
Dawei Wang of Norco California a stockbroker formerly registered with Merrill Lynch Pierce Fenner Smith Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by accusations that information was not provided by Wang to FINRA personnel after it was requested of him. Case No. 2017055025901 (Jan….
Jack Michael Hartnell of Mount Lebanon Pennsylvania a stockbroker formerly registered with National Planning Corporation is the subject of a customer initiated investment related written complaint on October 31, 2017 where the customer requested $26,204.00 in damages supported by allegations of suitability and misrepresentation concerning the customer’s investment in a variable annuity. Financial Industry Regulatory…
Prentice Valiant Chevalier Jr. of Wall Township New Jersey a stockbroker formerly employed by MSI Financial Services Inc. is the subject of a customer initiated investment related written complaint on October 25, 2017 where the customer sought damages estimated to exceed $5,000.00 based upon accusations that Chevalier inappropriately advised the customer to apply variable annuity…
John Thomas Guzy of Morristown New Jersey a stockbroker formerly employed by Morgan Stanley Smith Barney is the subject of a customer initiated investment related arbitration claim where the customer sought $100,000.00 in damages supported by allegations that between 2012 and 2015, the customer was placed in municipal debt investments that were not suitable for…
David Woods Unsworth Jr. of San Francisco California a stockbroker formerly employed by National Securities 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 Unsworth engaged in private securities transactions. Letter of Acceptance Waiver and Consent No. 2016050066401…
Richard Stephen Hughes of Wilmington Illinois a stockbroker formerly employed by Summit Brokerage Services Inc. 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 made unsuitable recommendations to customers regarding mutual fund and unit investment…
Carl Antaki of Melville New York a stockbroker formerly employed by Rockwell Global Capital LLC is the subject of a customer initiated investment related arbitration claim which settled for $8,750.00 in damages based upon allegations that (1) Antaki misrepresented the terms and conditions of over-the-counter equities investments (2) churned the customer’s investment account (3) charged…
Stephen Hurtuk of Boardman Ohio a stockbroker formerly registered with Stifel Nicolaus Company 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 recommendations to customers. Letter of Acceptance…
John Wesh of Knoxville Tennessee a stockbroker currently employed by Wells Fargo Clearing Services, LLC is referenced in a customer initiated investment related arbitration claim where the customer requested $70,937.83 in damages supported by accusations that Wesh made inappropriate investment recommendations to the customer regarding Fannie Mae equities that were ultimately purchased in the customer’s…
Michael Patrick Roche of Grand Blanc Michigan a stockbroker currently employed by UBS Financial Services Inc. is referenced in a customer initiated investment related arbitration claim in which the customer requested up to $499,000.00 in damages founded on accusations that (1) misrepresentations had been made to the customer concerning a variable annuity and (2) annuity…
Jeffrey Lloyd Mischel of Carlsbad California a stockbroker currently registered Wells Fargo Clearing Services LLC is referenced in a customer initiated investment related complaint concerning Mischel’s conduct in which the customer requested $430,000.00 in damages supported by allegations that the customer was not provided information about the classes of municipal bonds available for the customer…
Terry Dewayne Eskind of Conover North Carolina a stockbroker currently registered with Edward Jones is the subject of a customer initiated investment related written complaint which settled for $100,000.00 in damages on April 2, 2018 founded on allegations that unsuitable recommendations had been made to the customer concerning the sale of stocks from the customer’s…
Glen David Haddock of Petaluma California the President of Investment Architects Inc. is the subject of a customer initiated investment related arbitration claim in which the customer requested $1,250,000.00 in compensatory damages and $2,500,000.00 in punitive damages supported by allegations that the firm failed to prevent excessive trading in the customer’s account between 2004 and…
Stephen Andrew Kelly of Gainesville Georgia a stockbroker currently registered with SunTrust Investment Services Inc. is referenced in a customer initiated investment related written complaint on November 7, 2017 where the customer sought $6,140.00 in damages founded on accusations that Kelly was placed in a fixed annuity without the customer’s grant of authorization. Financial Industry…
Jacob Ray Kagele of Tuscon Arizona a stockbroker and investment adviser representative formerly registered with Mutual Securities Inc. is the subject of a customer initiated investment related arbitration claim which was resolved for $57,825.00 in damages based upon accusations that Kagele (1) executed exchange traded fund transactions in the customer’s account that were not suitable…
Robert Wade LaPietra of New York New York a stockbroker formerly employed by Aegis Capital Corp. is the subject of a customer initiated investment related arbitration claim in which the customer requested unspecified damages founded on accusations that LaPietra employed an investment strategy for the customer’s account between June of 2014 and March of 2016…
Richard Norman Fichter Jr. of Williamstown New York a stockbroker currently registered with Securities America Inc. is referenced in a customer initiated investment related arbitration claim in which the customer requested damages estimated to exceed $5,000.00 based upon accusations that one of the customers alleged that Fichter negligently serviced the customer’s investment portfolio of stock…
Louis Alan Woolf of South Easton Massachusetts a stockbroker formerly registered with Investors Capital Corp. is the subject of a customer initiated investment related arbitration claim in which the customer requested $324,555.81 in damages founded on allegations that fiduciary and contractual obligations had been breached and the customer’s TNP Irving Square DST real estate security…
Vincent Charles Meleco of Albany New York a stockbroker formerly registered with Wells Fargo Clearing Services LLC has been discharged by the firm on June 22, 2017 supported by accusations that Meleco accepted an unauthorized person’s instructions to effect trades in the Wells Fargo customer’s account. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that…
Stuart Myles Godin of Century City California a stockbroker formerly employed by RBC Capital Markets LLC is referenced in a customer initiated investment related arbitration claim which was resolved for $20,000.00 in damages founded on allegations that between November of 2012 and March of 2016, Godin made unsuitable recommendations to the customer concerning futures and…
Donald John Chiodo of Clare Michigan a stockbroker formerly registered with Wells Fargo Advisors Financial Network LLC is the subject of a customer initiated investment related written complaint on June 27, 2016 where the customer sought $82,841.00 in damages based upon allegations that between April 30, 2015 and May 13, 2016, variable annuity investment recommendations…
Nghi Thanh Ho of Houston Texas a stockbroker formerly registered with IMS Securities Inc. is referenced in a customer initiated investment related written complaint on February 13, 2017 where the customer sought $175,400.00 in damages based upon accusations that misrepresentations had been made to the customer concerning investments in a variable annuity. Financial Industry Regulatory…
Charles A. Black of Fort Wayne Indiana a former Lincoln Financial Advisors Corporation registered representative 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. Case No. 2017053433601 (July 28, 2017). According to FINRA Public Disclosure,…
Sanjoy Dasgupta of Greenwood Village Colorado a stockbroker formerly registered with Cambridge Investment Research, Inc. is the subject of a customer initiated investment related written complaint on July 18, 2017 in which the customer requested $22,470.93 in damages supported by accusations that the customer’s assets were inappropriately concentrated in equity investments. Financial Industry Regulatory Authority…
Richard Joseph Less Jr. of Fairfield New Jersey a branch manager currently registered with Morgan Stanley is the subject of a customer initiated investment related arbitration claim in which the customer requested $2,193,015.00 in damages supported by allegations of the failure to supervise an advisor’s management of transactions effected in a customer’s investment account between…
Mark Christopher Massaro of Williamsville New York a stockbroker currently employed by Ameriprise Financial Services Inc. is referenced in a customer initiated investment related arbitration claim where the customer requested $750,000.00 in damages supported by allegations that unsuitable recommendations had been made to the customer in reference to the holding of an insurance policy. Financial…
Mark Angelo Senofonte of Edison New Jersey a stockbroker currently registered with Cetera Investment Services LLC is the subject of a customer initiated investment related written complaint on June 12, 2018 where the customer requested $12,500.00 in damages supported by allegations that (1) unsuitable real estate security transactions were executed int the customer’s account (2)…
Ryan Seth Wiener of Fort Lauderdale Florida a stockbroker formerly employed by Laidlaw Company (UK) Ltd. is the subject of a customer initiated investment related arbitration claim which was resolved for $30,000.00 in damages founded on allegations that (1) unauthorized stock and over-the-counter equities transactions had been effected in the customer’s account and (2) the…
Gregory Jon Williams of Greenwood Village Colorado a stockbroker currently employed by Presidential Brokerage Inc. is the subject of a customer initiated investment related arbitration claim where the customer sought $151,337.00 in damages based upon allegations of misrepresentation and suitability pertaining to the customer’s investments in (1) mutual funds (2) corporate-debt products and (3) non-traded…
Charles James Mazac of Bastrop Texas a stockbroker formerly registered with Edward Jones is referenced in a customer initiated investment related written complaint on June 18, 2018 in which the customer requested damages estimated to exceed $5,000.00 supported by accusations that Mazac inappropriately made investment recommendations to the customer concerning a Lincoln National Life Insurance…
Jeffrey Sy Rubenstein of New York New York a stockbroker currently employed by Oppenheimer Co. Inc. is the subject of a customer initiated investment related arbitration claim in which the customer requested $100,000.00 in damages based upon accusations that between 2012 and 2017, contractual and fiduciary obligations to the customer had been breached and the…
William Charles Sines of Seminole Florida a stockbroker formerly registered with Kalos Capital Inc. is referenced in a customer initiated investment related complaint which was resolved for $19,737.00 in damages on March 2, 2018 based upon allegations that unsuitable real estate security and mutual fund recommendations had been made to the customer. Financial Industry Regulatory…
Earl Marks a stockbroker with RBC Capital Markets in Mount Laurel, New Jersey was recently the subject of a customer intiated, investment related complaint filed before the Financial Industy Regulatory Authority seeking damages in excess of $500,000 resulting from the sale of Residential Mortgage Backed Securities (RMBS) and other high yield securities. FINRA Arbitration No….
Greg Grajek of San Diego California a stockbroker employed by UBS Financial Services Inc. is the subject of a customer initiated investment related civil action where the customer sought $9,049.78 in damages supported by accusations of the failure to follow the customer’s instructions concerning penny stock investments which led to the customer’s positions having been…
Elena Pilar Martinez (also known as Elena Pilar Blowers) a stockbroker currently registered with J.P. Morgan Securities LLC is the subject of a customer initiated investment related written complaint on May 22, 2018 in which the customer sought $8,000.00 in damages supported by allegations that the customer’s managed account investment had been misrepresented between May…
Dwight Clyde West of Lone Tree Colorado a stockbroker and financial advisor currently registered with UBS Financial Services Inc. is the subject of a customer initiated investment related arbitration claim in which the customer sought $500,000.00 in damages founded on allegations that between 2008 and 2017: (1) unsuitable investment recommendations had been made to the…
Michael Scott Arteca of Matawan New Jersey a stockbroker formerly employed by Ameritas Investment Corp is referenced in a customer initiated investment related arbitration claim in which the customer sought $200,000.00 in damages founded on allegations that real estate investment trusts were misrepresented to the customer. Financial Industry Regulatory Authority (FINRA) Arbitration No. 18-01328 (May…
Charles William Sawyer Jr. of Owings Mills Maryland a stockbroker currently employed by Client One Securities, owned by the Creative One Marketing Corporation is the subject of a customer initiated investment related arbitration claim in which the customer requested $40,249.00 in damages supported by allegations that the customer was provided poor advice relating to mutual…
Bryan Gerald Musso of New Orleans Louisiana a stockbroker currently employed by Wells Fargo Clearing Services LLC is the subject of a customer initiated investment related arbitration claim in which the customer requested unspecified damages based upon allegations that unsuitable oil and gas shares had been purchased by Musso in the customer’s account. Financial Industry…
David Jonathan Merriman of San Francisco California a former chief executive officer of Merriman Capital Inc. is referenced in a customer initiated investment related arbitration claim where the customer sought $60,000.00 in damages based upon accusations of poor performance pertaining to over-the-counter equities. Financial Industry Regulatory Authority (FINRA) Arbitration No. 17-00954 (Dec. 8, 2017). FINRA…
Steven Franklin Brandt of Alexandria Virginia a stockbroker formerly registered with Cetera Advisors LLC is referenced in a customer initiated investment related arbitration claim in which the customer requested $50,000.00 in damages supported by allegations of (1) breach of contract (2) the customer having been placed in direct participation program or limited partnership interests that…
Anthony Minerva of Syosset New York a stockbroker and chief compliance officer formerly employed by J.D. Nicholas Associates Inc. has been suspended on February 13, 2017 from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by allegations that he failed to pay an arbitration award to a customer according to…
Patrick John Ratz of Oakhurst New Jersey a stockbroker formerly employed by Wells Fargo Clearing Services LLC is referenced in a customer initiated investment related written complaint which settled for $15,500.00 in damages on March 2, 2018 based upon allegations that misrepresentations had been made to the customer concerning modifications to the customer’s portfolios within…
Rey Keith Frimmersdorf of Santa Rosa California a stockbroker formerly registered with Independent Financial Group LLC is the subject of a customer initiated investment related arbitration claim which was resolved for $160,000.00 in damages founded on allegations of (1) violation of California Corporate Securities Law (2) breach of fiduciary duty and (3) suitability in reference…
Scott William Macolino of Atlanta Georgia a stockbroker formerly registered with Stifel Nicolaus Company Inc. is the subject of a customer initiated investment related arbitration claim in which the customer requested $121,000.00 in damages based upon allegations including (1) misrepresentation (2) fraud (3) breach of contract (4) negligence (5) breach of fiduciary duty and (6)…
Gary R. Gygi of Cedar Hills Utah a stockbroker formerly employed by WBB Securities LLC is referenced in a customer initiated investment related written complaint which was resolved on November 21, 2017 for $105,000.00 in damages supported by allegations that Gygi mishandled the customer’s investment account resulting in the customer’s over-the-counter equities losses. Financial Industry…
Mark Joseph Flanagan of Highland Park, Illinois, a stockbroker formerly registered with Citigroup Global Markets Inc., has been suspended on June 7, 2018 from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by allegations that he failed to pay Citigroup $102,022.26 in compensatory damages pursuant to FINRA Arbitration Award No….
Clarence L. McGill of Palm Beach Gardens, Florida, a stockbroker formerly employed by GWN 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 comply with FINRA’s requests in an investigation into allegations of McGill’s potential unsuitable investment recommendations…
Ken Anthony Carter of Seattle Washington a stockbroker currently employed by RBC Capital Markets LLC is referenced in a customer initiated investment related arbitration claim where the customer requested $450,000.00 in damages founded on allegations that stock trades had been executed in the customer’s investment account between 2014 and 2015 that were neither suitable nor…
Michael Eric Bourke of Florham Park New Jersey a stockbroker currently employed by RBC Capital Markets LLC is referenced in a customer initiated investment related written complaint on April 30, 2018 in which the customer requested $115,000.00 in damages based upon allegations that the customer’s assets were allocated in an equity position that was not…
John Edward Massa of Staten Island New York a stockbroker currently registered with Cetera Investment Services LLC is the subject of a customer initiated investment related civil action in which the customer sought $22,562.01 in damages based upon accusations that misrepresentations had been made to the customer in reference to the terms and conditions of…
John Richard Boatright of Duluth Georgia a stockbroker formerly employed by Summit Brokerage Services Inc. is referenced in a customer initiated investment related written complaint on May 11, 2018 where the customer sought $46,000.00 in damages based upon allegations that the customer’s account was handled in a negligent manner and the customer was poorly advised…
Jason R. Watson of Philadelphia Pennsylvania a registered representative of Purshe Kaplan Sterling Investments is referenced in a customer initiated investment related arbitration claim that was resolved for $20,000.00 in damages supported by allegations that (1) fiduciary obligations to the customer had been breached and (2) the terms and conditions of a fixed indexed annuity…
Richard Allen Yantis of Cedar Falls Iowa a stockbroker formerly employed by Cambridge Investment Research Inc. is the subject of a customer initiated investment related written complaint on April 19, 2018 in which the customer sought $142,000.00 in damages supported by allegations that Yantis (1) employed deceptive and manipulative tactics to induce the customer’s alternative…
Richard Michael Stevens of Indianapolis Indiana a stockbroker currently employed by David A. Noyes Co. is referenced in a customer initiated investment related arbitration claim in which the customer sought $60,000.00 in damages founded on allegations that Stevens (1) failed to disclose risks of private placements (2) neglected to conduct adequate due diligence on alternative…
Ronald Reed McCook of Scottsdale Arizona a stockbroker currently employed by First Allied Securities Inc. is the subject of a customer initiated investment related arbitration claim where the customer requested $1,000,000.00 in damages based upon accusations including (1) fraud (2) failure to supervise (3) omissions and misrepresentation (4) breach of fiduciary duty (5) breach of…
Darrell Brian Hesford of Escondido California a stockbroker currently registered with Wells Fargo Clearing Services LLC is referenced in a customer initiated investment related written complaint on April 23, 2018 where the customer requested damages estimated to exceed $5,000.00 supported by allegations that exchange traded funds were placed in the customer’s account without the customer’s…
Michael John Giovannelli of Melville New York a stockbroker formerly registered with Salomon Whitney Financial is referenced in a customer initiated investment related arbitration claim in which the customer requested $350,067.00 in damages supported by allegations of (1) breach of contract (2) unauthorized trading (3) suitability (4) negligence and (5) churning of the customer’s equity…
David Christopher Hydrick of Memphis Tennessee a stockbroker formerly registered with Raymond James Associates Inc. is the subject of a customer initiated investment related arbitration claim where the customer sought $400,000.00 in damages based upon accusations of (1) misappropriation (2) unauthorized trading in the customer’s account (3) breach of contractual duties (4) conversion of the…
Richard Crescenzo of Melville New York a stockbroker formerly employed by Capitol Securities Management Inc. is referenced in a customer initiated investment related arbitration claim in which the customer sought $400,000.00 in damages based upon allegations that (1) Crescenzo made investment recommendations to the customer that were not suitable given the tax consequences incurred by…
Joel Vincent Flaningan of Fort Wayne Indiana a stockbroker formerly registered with NYLife Securities LLC has been discharged by the firm on May 10, 2018 based upon allegations that Flaningan took part in the solicitation of Woodbridge Mortgage Investment Fund (an unregistered entity that went bankrupt) without notifying and procuring approval from NYLife Securities LLC….
Philip Gott Moshier of Solon Ohio a stockbroker currently registered with Lincoln Financial Advisors Corporation is the subject of a customer initiated investment related arbitration claim in which the customer requested $186,000.00 in damages based upon accusations that Moshier made recommendations for the customer to invest in real estate investment trusts that were not suitable…
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,…
Joseph John Weinrich Sr. of Overland Park Kansas a stockbroker formerly registered with Moloney Securities Co. Inc. is the subject of a customer initiated investment related written complaint on May 15, 2018 where the customer requested $225,000.00 in damages founded on accusations of (1) omissions of risk (2) negligence (3) breach of fiduciary duty and…
Alexis Lertora of Miami Florida a stockbroker formerly employed by CP Capital Securities has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Lertora (1) made omissions and misrepresentations to customers (2) made unsuitable investment recommendations and (3) lacked an adequate basis to…
Eric Todd Stuckey of Suwanee Georgia a stockbroker currently employed by Invest Financial Corporation is the subject of a customer initiated investment related arbitration claim where the customer requested $220,000.00 in damages founded on accusations that Stuckey (1) made misrepresentations to the customer concerning the terms and risks of variable annuity investments and (2) made…
John Perrin Kellar of Fort Lauderdale Florida a stockbroker currently employed by Wells Fargo Clearing Services LLC is referenced in a customer initiated investment related written complaint on April 23, 2018 in which the customer requested damages estimated to exceed $5,000.00 founded on accusations that the customer was placed in unsuitable certificate of deposit investments…
Alana Marie Lewis of New London Wisconsin a stockbroker formerly employed by Edward Jones has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on allegations that Lewis neglected to provide FINRA with a response to its request for her information. Case No. 2016051358201 (Jan. 2, 2018). FINRA…
Jack Wendell Griffith Jr. of Columbia South Carolina a stockbroker currently employed by Janney Montgomery Scott LLC is referenced in a customer initiated investment related arbitration claim in which the customer sought $200,000.00 in damages supported by allegations that (1) fiduciary duties had been breached (2) the customer’s assets were overconcentrated in over-the-counter equities and…
Gregory John Richards of Scottsdale Arizona a stockbroker currently registered with Centaurus Financial is referenced in a customer initiated investment related arbitration claim which was resolved for $23,000.00 in damages supported by allegations that unsuitable investment recommendations had been made to the customer concerning real estate security and fixed annuity products. Financial Industry Regulatory Authority…
Richard James Murphy of New York New York a stockbroker formerly registered with Tullett Prebon Financial 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 FINRA with a response to its request for information. Case No….
Mark S. Katz of Houston Texas a stockbroker currently registered with UBS Financial Services Inc. is the subject of a customer initiated investment related arbitration claim in which the customer requested $866,000.00 in damages supported by allegations that (1) unsuitable recommendations had been made to the customer concerning investment reallocations and (2) misrepresentations were made…
Sean Aaron Brady of Saint Louis Missouri a stockbroker formerly employed by First Allied 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 documents and information to FINRA in an investigation into allegations of his sales practice…
Casey Thomas Rodriguez of Farmingdale New York a stockbroker formerly registered with Arive Capital Markets has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on accusations that he failed to provide FINRA with information requested of him in regard to his activities. Case No. 2017054592101 (Oct. 24,…
Joseph Dominick Quinzi of Staten Island New York a stockbroker formerly registered with First Standard Financial Company LLC has been suspended on March 31, 2017 from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by allegations that he failed to confirm with FINRA whether he complied with FINRA Arbitration No….
Todd Michael Niedermeyer of San Francisco California a stockbroker currently employed by Stifel Nicolaus Company Incorporated is the subject of a customer initiated investment related written complaint on February 22, 2018 in which the customer requested damages estimated to exceed $5,000.00 based upon accusations that on November 9, 2016, Niedermeyer executed unauthorized sales of stock…
Craig S. Forster of Hawthorne New York a stockbroker formerly employed by Andrew Garrett Inc. is referenced in a customer initiated investment related arbitration claim which settled for $165,000.00 in damages founded on allegations including (1) breach of fiduciary duty (2) breach of contract and (3) suitability relating to stock trades executed in the customer’s…
Anthony Gerald Polak (also known as Tony Polak) a stockbroker currently registered with Aegis Capital Corp. is referenced in a customer initiated investment related arbitration claim where the customer requested $7,927.46 in damages founded on allegations that the customer’s investment portfolio had poorly performed between December 31, 2017 and February 8, 2018. Financial Industry Regulatory…
Todd Debower Beddard of Charlotte North Carolina a stockbroker formerly registered with T.R. Winston Company LLC is the subject of a customer initiated investment related arbitration claim in which the customer sought $160,000.00 in damages supported by accusations that an unsuitable private investment transaction was consummated with the customer’s funds. Financial Industry Regulatory Authority (FINRA)…
Dominick Joseph Diorio Jr. of Melville New York a stockbroker currently employed by Aegis Capital Corp. is referenced in a customer initiated investment related arbitration claim in which the customer sought $769,690.00 in damages founded on accusations that inappropriate investment recommendations had been made to the customer and unauthorized trades were effected in the customer’s…
Anthony John Leopizzi of White Plains New York a stockbroker currently employed by Ameriprise Financial Services Inc. is referenced in a customer initiated investment related arbitration claim where the customer sought $60,000.00 in damages based upon accusations that (1) the customer’s account was mismanaged and (2) unsuitable energy-sector equity transactions were effected in the customer’s…
Shawn I. Houslin of Jacksonville Florida a stockbroker formerly registered with Merrill Lynch Pierce Fenner Smith Inc. has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by allegations that he ignored requests from FINRA for information concerning his business activities. Case No. 2017056538101 (Feb. 23, 2018). FINRA…
Brian Keith Decker of New York New York a stockbroker formerly employed by Legend 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 declined to cooperate with FINRA’s investigation into accusations of his misconduct. Letter of Acceptance Waiver and…
Shawn Bruce Davis of Auburn California a stockbroker formerly registered with Independent Financial Group LLC is referenced in a customer initiated investment related arbitration claim where the customer requested more than $5,000.00 in estimated damages based upon accusations including (1) churning of the customer’s investment portfolio (2) violation of California Corporations Code (3) breach of…
John Cochran Maccoll of Birmingham Michigan a stockbroker formerly employed by UBS Financial Services Inc. has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by allegations of his failure to provide FINRA personnel with a response to its request for Maccoll’s information. FINRA Case No. 2018057662601 (Apr….
Ronald Harris Rothchild of Garden City New York a stockbroker formerly employed by Raymond James Financial Services Inc. has been discharged by the firm and its advisory affiliate on April 8, 2016 supported by allegations that Rothchild (1) placed trades in a customer’s investment account that were neither suitable nor authorized by the customer and…
Barry Lee Garapedian of Westlake Village California a stockbroker currently registered with Morgan Stanley is referenced in a customer initiated investment related written complaint on April 1, 2018 in which the customer requested $713,000.00 in damages founded on allegations that (1) the customer’s assets were overconcentrated in speculative investments (2) closed end fund and exchange…
Michael Lee Canney of Des Moines Iowa a stockbroker currently employed by Morgan Stanley Smith Barney is the subject of a customer initiated investment related arbitration claim where the customer requested unspecified damages founded on accusations that unsuitable investment recommendations had been made to the customer for the customer’s managed account between 2007 and 2017….
Ankur Bhatia of Lake Forest Illinois a stockbroker formerly employed by Fifth Third Securities Inc. is the subject of a customer initiated investment civil action filed in the United States District Court for Northern Illinois where the customer sought $50,000.00 in damages based upon allegations that unauthorized trades were effected in the customer’s account and…
Karl Horace Romero of Santa Ana California a stockbroker formerly registered with LPL Financial LLC is referenced in a customer initiated investment related arbitration claim where the customer requested $250,000.00 in damages based upon accusations that the customer received recommendations that were not suitable concerning limited partnership interests. Financial Industry Regulatory Authority (FINRA) Arbitration No….
David Wayne Woolford of Philadelphia Pennsylvania a stockbroker formerly registered with J.P. Morgan Securities LLC is the subject of a customer initiated investment related written complaint which settled on July 28, 2017 for $9,998.46 in damages based upon allegations that between October 1, 2013 and March 15, 2017, the customer was placed in a common…
Roderick Yzaguirre of Ontario California a stockbroker formerly employed by Merrill Lynch Pierce Fenner Smith Inc. is referenced in a customer initiated investment related written complaint on March where the customer alleged omission and misrepresentation in reference to unit investment trust transactions executed in the customer’s account. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals…
Robert Joseph Kerrigan a stockbroker formerly registered with First Financial Equity Corporation has been suspended on May 4, 2017 from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on accusations that he failed to inform FINRA as to whether he complied with FINRA Arbitration Award No. 16-01607 (Feb. 21, 2017) where…
David Leonard Sheppard of New York New York a stockbroker formerly registered with Aegis Capital Corp is the subject of a customer initiated investment related arbitration claim where the customer requested $250,000.00 in damages based upon allegations that unauthorized and excessive trades were effected in the customer’s account and investment recommendations were not suitable for…
Kevin Joseph Kuhlow of Los Gatos California a stockbroker formerly registered with LPL Financial LLC is the subject of a customer initiated investment related arbitration claim where the customer requested more than $5,000.00 in damages supported by accusations including (1) misrepresentation (2) breach of contract (3) negligence (4) and breach of fiduciary duty in regard…
Mark Angelo Gassoso of Jersey City New Jersey a stockbroker currently registered with National Securities Corporation is the subject of a customer initiated investment related arbitration claim in which the customer requested $150,000.00 in damages supported by allegations including (1) misrepresentation (2) negligence (3) breach of fiduciary duty and (4) suitability relating to the customer’s…
Richard Scott Ewing of Richmond Virginia a stockbroker currently registered with Ameriprise Financial Services Inc. is named in a customer initiated investment related arbitration claim which settled for $52,500.00 in damages based upon accusations including (1) breach of fiduciary duty (2) excessive fees (3) misrepresentation (4) suitability and (5) violation of state and federal securities…
E.J. Sterling LLC (now known as Allied Millennial Partners LLC) a brokerage firm headquartered in New York New York has been censured by FINRA based upon the firm’s consent to findings that the firm failed to adequately supervise its business to detect and stop unsuitable trades from being executed in customers’ investment accounts. Letter of…
William Michael Robertson of Deer Park Texas a stockbroker formerly registered with First Allied Securities Inc. and advisor with First Allied Advisory Services has been referenced in a customer initiated investment related written complaint on January 5, 2018 where the customer sought $22,000,000.00 in damages founded on allegations that (1) investment recommendations had been made…
Alexander Kibrik of New York New York a stockbroker formerly registered with Garden State Securities Inc. and First Merger Capital is the subject of a customer initiated investment related arbitration claim where the customer was awarded $413,045.11 in compensatory damages supported by Kibrik being found liable on the customer’s claims of (1) manipulation (2) negligence…
Ronald Dean Clark of Tampa Florida a stockbroker currently registered with Summit Brokerage Services Inc. has been referenced in a customer initiated investment related arbitration claim where the customer sought $450,000.00 in damages based upon allegations that (1) the customer’s account was mishandled (2) transactions were placed in the customer’s account that were not suitable…
David Kyle Ridenour of Edmond Oklahoma a stockbroker currently registered with Wells Fargo Clearing Services LLC has been referenced in a customer initiated investment related arbitration claim in which the customer requested $250,000.00 in damages supported by accusations that Ridenour effected speculative bond and stock transactions in the customer’s account between 2015 and 2016 that…
Steven Pagartanis of Setauket New York a stockbroker formerly registered with Lombard Securities Incorporated who is 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 misappropriated customer funds and made fraudulent misrepresentations. Letter of Acceptance…
Aaron Paul Brodt of Scottsdale Arizona a stockbroker formerly registered with Accelerated Capital Group is the subject of a customer initiated investment related arbitration claim where the customer sought $340,000.00 in damages supported by allegations including (1) omissions and misrepresentations (2) breach of contract (3) breach of fiduciary duty (4) negligence and (5) over-concentration of…
William Cranston Fenwick Jr of Louisville Kentucky a stockbroker currently registered with First Kentucky Securities Corporation is the subject of a customer initiated investment related arbitration claim where the customer sought $20,351,400.00 in damages founded on allegations that unsuitable master limited partnership investments were executed with the customer’s funds between 2015 and 2016. Financial Industry…
William Stoddard Valentine of Philadelphia Pennsylvania a stockbroker formerly registered with Wells Fargo Advisors LLC was the subject of a customer initiated investment related complaint which settled on December 19, 2016 for $5,000.00 in damages supported by accusations that (1) the customer’s assets were not diversified (2) the customer’s assets were over-concentrated in master limited partnerships…
Thomas Tirrell Riquier of Danvers Massachusetts a stockbroker formerly registered with United Planners Financial Services of America is the subject of an Administrative Complaint brought by the Enforcement Section of the Massachusetts Securities Division of the Office of the Secretary of the Commonwealth in which Riquier is alleged to have engaged in fraudulent business practices….
Malcolm Lynn Norris of South Carolina is a former Ameriprise Financial Services Inc. registered representative who is the subject of customer initiated investment related written complaint on November 7, 2016 where the customer sought $143,220.62 in damages supported by accusations that (1) an unsuitable business development company purchase had been effected in the customer’s account…
William George Brunner of Huntington New York is a stockbroker and securities principal formerly registered with Investment Planners 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 allegations that he traded…
James Gerard Sparacino of Woodbury New Jersey is a stockbroker currently registered with Trident Partners Ltd. who is the subject of a customer initiated investment related arbitration claim where the customer sought $40,489.00 in damages supported by accusations that stock transactions were placed in the customer’s account that were not suitable for the customer. Financial…
Michael Fisher of Melville New York is a stockbroker formerly registered with Wells Fargo Advisors LLC who is the subject of a customer initiated investment related arbitration claim where the customer requested $324,165.01 in damages based upon allegations that Fisher effected unit investment trust transactions in the customer’s account that were not suitable for the…
Norman Gary Price of Gig Harbor Washington is a member of RP Capital LLC who is the subject of customer initiated investment related arbitration claim in which the customer requested $700,000.00 in damages supported by accusations of (1) suitability (2) conflict of interest (3) misrepresentation and (4) supervisory failures concerning the use of the customer’s…
Robert Edward DeForest of West Palm Beach Florida is a stockbroker currently registered with UBS Financial Services Inc. who is the subject of a customer initiated investment related arbitration claim where the customer sought $95,000.00 in damages based upon allegations that DeForest recommended trigger yield optimization notes between June of 2014 and September of 2015…
Scott William Palmer of Hackensack New Jersey is a stockbroker formerly registered with Janney Montgomery Scott LLC 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 make an appearance before FINRA personnel and testify in regard to allegations…
Jonathan D. Bao of Tarzana California a stockbroker formerly registered with Royal Alliance Associates Inc. is the subject of customer initiated investment related arbitration claim which settled for $700,000.00 in damages supported by accusations of (1) breach of contract (2) breach of fiduciary duty and (3) negligence relating to the customer’s investments in exchange traded…
Gary Craig Crenshaw of Raleigh North Carolina is a stockbroker currently registered with SunTrust Investment Services Inc. who is the subject of a customer initiated investment related complaint where the customer sought $15,067.00 in damages based upon accusations that a variable annuity was inappropriately sold to the customer during the time that the customer had…
Brian Thomas Perry of Orange Park Florida 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 founded on consenting to findings that he neglected to provide FINRA with a response to its request for information from Perry….
Chuck Correal of Upper Saint Clair Pennsylvania is a stockbroker formerly registered with Morgan Stanley who is the subject of a customer initiated investment related arbitration claim in which the customer alleged that equity transactions were effected in the customer’s account between 2009 and 2016 that were not suitable for the customer. Financial Industry Regulatory…
Ami Kathryn Forte of Palm Harbor Florida is a stockbroker formerly registered with Morgan Stanley who is the subject of a Financial Industry Regulatory Authority (FINRA) Wells Notice in which FINRA has determined that disciplinary action should be brought against Forte for possibly committing violations of FINRA Rules 2010 and National Association of Securities Dealers…
Brandon Curt Stimpson of North Logan Utah is a stockbroker formerly registered with Allegis Investment Services, LLC and advisor with Allegis Investment Advisors LLC who was fired on December 13, 2017, supported by allegations that he failed to conform to Allegis Investment Services’ code of ethics as well as other firm policies. Financial Industry Regulatory…
Peter David Schiff of Dorado Puerto Rico is the president and chief executor officer of Euro Pacific Capital Inc. who is subject of a customer initiated investment related arbitration claim where the customer requested $791,607.53 in damages based upon allegations including (1) breach of contract (2) violation of FINRA Rules (3) violation of California Securities…
Peter Brian Voldness of Bloomington Minnesota is a stockbroker formerly registered with Emergent Financial Group Inc. who is the subject of a customer initiated investment related arbitration claim in which the customer requested $2,000,000.00 in damages based upon allegations that the customer’s assets were inappropriately concentrated in private placement securities issued by Cryoport. Financial Industry…
Michael Starr of New York New York is a stockbroker currently registered with RBC Capital Markets LLC who is the subject of a customer initiated investment related written complaint on December 29, 2016 where the customer sought $38,000.00 in damages founded on allegations that the customer was not apprised of the risks of investing in…
Steven Carroll Wall of New Brighton Minnesota is a stockbroker currently registered with Ameriprise Financial Services Inc. who is the subject of a customer initiated investment related written complaint November 20, 2017 in which the customer sought $48,515.00 in damages supported by allegations that (1) unsuitable investment recommendations were made to the customer concerning exchange…
Michael Douglas Hanke of Lutz Florida is a stockbroker formerly registered with Ameriprise Financial Services Inc. who 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 exercised discretion in a customer’s account without authorization and mismarked the customer’s order…
Louise Marie Cole of Toms River New Jersey is a stockbroker formerly registered with Next Financial Group Inc. who is the subject of a customer initiated investment related civil action that settled on October 19, 2016 for $100,000.00 in damages supported by accusations that Cole made unsuitable investment recommendations to the customer concerning an international…
Antoine Nabih Souma of Los Angeles California is a stockbroker formerly registered with JP Morgan Securities LLC who is the subject of a customer initiated investment related arbitration claim in which the customer requested $20,000,000.00 in damages based upon allegations of (1) unauthorized transactions (2) suitability and (3) misrepresentation. Financial Industry Regulatory Authority (FINRA) Arbitration…
John Charles Campeau Jr of New Haven Connecticut is a stockbroker formerly registered with UBS Financial Services Inc. who is the subject of a customer initiated investment related arbitration claim where the customer requested $102,204.00 in damages based upon allegations that Campeau charged the customer with excessive fees for advisory services and made unsuitable investment…
Michael Bingham Ballard of Birmingham Alabama is a stockbroker formerly employed by Madison Avenue Securities LLC who has been terminated on February 13, 2017 supported by allegations that he neglected to disclose to the firm that he was subject of a customer complaint. It was not Mr. Ballard’s first rodeo. Financial Industry Regulatory Authority (FINRA) Public…
Robert MacDonald Abee of Raleigh North Carolina 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 $250,000.00 in damages supported by allegations that Abee (1) made misrepresentations to the customer concerning the terms and fees relating to the customer’s…
Vincent James Mazza of Iselin New Jersey is a stockbroker currently employed by National Securities Corp who is the subject of a customer initiated investment related arbitration claim in which the customer requested $300,000.00 in damages supported by accusations of (1) breach of contract (2) breach of fiduciary duty and (3) negligence relating to over-the-counter…
Williard Lee Golightly of Fresno California is a stockbroker formerly registered with SCF Securities Inc. and advisor employed by Alamo Asset Advisors who has been sanctioned by Financial Industry Regulatory Authority (FINRA) on December 14, 2016 based upon accusations that he failed to cooperate with his obligations to pay $155,000.00 in compensatory damages to a…
Christopher Duke Bennett of Louisville Kentucky is a stockbroker currently registered with J.J.B. Hilliard W.L. Lyons LLC who is the subject of a customer initiated investment related arbitration claim in which the customer requested five million dollars in damages based upon allegations of (1) suitability (2) misrepresentation and (3) breach of fiduciary duty pertaining to…
Andrew Jay Lowe of Centre Alabama is a stockbroker formerly registered with Berthel Fisher and Company Financial Services who has been fired on November 1 2017 based upon allegations that he failed to timely make required disclosures to Financial Industry Regulatory Authority (FINRA) regarding his activities. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that…
Robert Abramowitz of Garden City New York is a stockbroker formerly registered with Raymond James Financial Services Inc. who is the subject of a customer initiated investment related arbitration claim which settled for forty thousand dollars in damages based upon accusations including (1) omissions and misrepresentations (2) breach of contract (3) breach of fiduciary duty…
Donald Edward Graves of Greenfield Massachusetts is a stockbroker currently registered with Money Concepts Capital Corp who is the subject of a customer initiated investment related arbitration claim which settled for sixty-five thousand dollars in damages supported by allegations of inappropriate Aztec drilling program transactions having been effected in the customer’s account. Financial Industry Regulatory…
Austin R. Dutton, Jr., at least until August 2017, was a stockbroker or registered representative of Newbridge Securities Corporation allowed to conduct business under the name Bridge Valley Financial Services at 171 South Main Street in Doylestown, Pennsylvania 18901. On August 10, 2017, Dutton and Newbridge Securities parted ways. Weeks earlier, on July 24, 2017, Dutton…
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…
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…
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…
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…
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…
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…
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…
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…
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…
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…
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…
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…
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…
Mamode (Sony) Abdullah Oozeerally is a stockbroker currently registered with Hennion and Walsh who is the subject of a customer initiated investment related arbitration claim which settled for sixty thousand dollars in damages founded on accusations that Oozeerally executed municipal debt purchases in the customer’s account which were not suitable for the customer. Financial Industry…
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…
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,…
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,…
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…
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….
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….
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…
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…
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…
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…
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…
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…
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…
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…
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…
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…
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…
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…
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…
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…
William George Bryant Harvey, of Doylestown, Pennsylvania, a stockbroker registered with Janney Montgomery Scott LLC, is the subject of a customer initiated investment related arbitration claim, in which the customer sought $280,000.00 in damages founded on allegations that Harvey effected unauthorized trades in the customer’s account, and made misrepresentations to the customer as well as…
Matthew Singer, of Aventura, Florida, a stockbroker registered with Morgan Stanley, is the subject of a customer initiated investment related arbitration claim, which settled for $60,000.00 in damages founded on accusations that between May of 2015 to January of 2016, Singer traded options in the customer’s account without the customer’s consent and made misrepresentations to…
Mickey Long of Plano, Texas, a stockbroker formerly registered with VSR Financial Services, Inc., is the subject of a customer initiated investment related written complaint on March 27, 2017, in which the customer sought $94,438.49 in damages founded on allegations of negligence, breach of fiduciary duty, suitability and misrepresentation concerning the customer’s real estate security,…
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…
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,…
Jason N. Anderson of Beaumont, Texas, a stockbroker formerly registered with LPL Financial LLC, 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 fulfill his financial obligations in regard to an arbitration award or settlement agreement. Case No. 2017055025701…
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…
Brad C. Lawing of Springfield, Missouri, a stockbroker formerly registered with Cambridge Investment Research, Inc., has been fined $10,000.00 and suspended for five months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity by consenting to findings that Lawing, inter alia, effected unsuitable business development company transactions in customers’ investment accounts. Letter…
Shane Joseph Melito, of Syosset, New York, a stockbroker currently registered with Network 1 Financial Securities Inc., is the subject of a customer initiated investment related arbitration claim, in which the customer was awarded $51,549.00 in damages based on Melito having been found liable for effecting unsuitable transactions in the customer’s account and for breaching…
Abraham Heimann, of Alpharetta, Georgia, a stockbroker formerly registered with Cetera Advisors LLC, has been identified in a customer initiated investment related arbitration claim, where the customer sought $364,000.00 in damages based upon allegations of unauthorized trading, misrepresentation, breach of contract, breach of fiduciary duty, and fraud in regard to energy sector investments, including oil…
Frederick Wesley Roehm, of Schaumburg, Illinois, a stockbroker formerly registered with FSC Securities Corporation, has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity according to an Order Accepting Offer of Settlement containing findings that Roehm, inter alia, failed to disclose that a customer sued him…
Jason Harris Klabal, of New York, New York, a stockbroker formerly registered with Legend Securities, Inc., has been named in a customer initiated investment related arbitration claim on December 8, 2016, in which the customer requested $200,000.00 in damages based upon allegations of breach of contract, negligence, breach of fiduciary duty, churning and misrepresentation regarding…
Phil Scott (also known as Walter Philip Schlaepfer), of Bellevue, Washington, a stockbroker formerly registered with Merrill Lynch, Pierce, Fenner & Smith Incorporated, has been named in a customer initiated investment related arbitration claim, which settled for $125,000.00 in damages supported by allegations of misrepresentation and unsuitable investment recommendations having been made in regard to…
Zachary T. Bader, of Melville, New York, a stockbroker formerly registered with National Securities Corporation who is permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in all capacities, has been sanctioned by FINRA on June 21, 2017, based upon allegations of his failure to be in compliance with a FINRA Arbitration…
Richard Grant Cody, of Spring Lake, New Jersey, a stockbroker formerly employed with Concorde Investment Services, LLC, has been named in a customer initiated investment related arbitration claim on September 13, 2017, in which the customer alleged that Cody effected floating rate note trades in the customer’s portfolio without the customer’s consent between 2013 and…
Rick Douglas Konecny, of Chicago, Illinois, a stockbroker formerly registered with National Securities Corporation, has been suspended indefinitely from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations of his failure to provide FINRA with information about his business activities. FINRA Notice of Suspension, No. 2016049543601 (Aug. 18, 2017)….
Scott Allen Sibley of Fort Lauderdale, Florida, a stockbroker formerly employed with Raymond James & Associates, is identified in a customer initiated investment related arbitration claim, wherein the customer sought $250,000.00 in damages based upon allegations of breach of contract, breach of fiduciary duty, negligence, fraud, and the violation of Florida’ Securities and Investor Protection Act…
Leonard V. Fox, Jr., of Marlton, New Jersey, a stockbroker formerly associated with FSC Securities Corporation, is the subject of a Summary Revocation Order issued by the State of New Jersey Bureau of Securities, which has revoked Fox’s investment advisor representative registration and securities agent registration supported by findings that he was expelled by Financial…
Darnell Anthony Deans, 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 on findings that he neglected to respond to FINRA’s request for information about Deans’ business activities. FINRA Case No. 2015044374501 (July 17,…
Thomas Patrick Haugh, of Chicago, Illinois, a stockbroker, commodity futures broker and securities principal currently registered with PTI Securities & Futures L.P., is the subject of a customer initiated investment related arbitration claim, in which the customer sought $2,500,000.00 in damages supported by allegations that the customer’s investment account failed to be managed properly. Case…
Jonathan Michael Zucker, of Mitchelfield, New York, a stockbroker currently registered with Northeast Securities, Inc., is the subject of a customer initiated investment related arbitration claim, where the customer was awarded $1,758,000.00 in compensatory damages supported by allegations that the customer’s account was handled with negligence; the customer’s investments were churned and induced by Zucker’s…
Mark Fred Augusta, of Solana Beach, California, a stockbroker formerly registered with Wedbush Securities Inc., is the subject of a customer initiated investment related arbitration claim, in which the customer was awarded 250,000.00 in compensatory damages, $1,080,000.00 in punitive damages, and $110,000.00 in disgorged commissions on July 13, 2017, supported by allegations against Augusta and…
Gaetano Magarelli, a stockbroker currently registered with Newbridge Securities Corporation, is the subject of a customer initiated investment related arbitration claim on August 31, 2017, in which the customer requested $266,355.00 in damages based upon allegations that Magarelli placed unsuitable equity transactions in the customer’s account, causing the customer to sustain investment losses within her…
Mitchell Steven Morrison, of Westlake Village, California, a principal registered with Financial West Group, is the subject of a customer initiated investment related arbitration claim on June 19, 2017, in which the customer requested $1,937,365.00 in damages based upon allegations that Morrison neglected to supervise the activities of a subordinate stockbroker that made misrepresentations to…
Donald Allen Kartoon, of Beverly Hills, California, a stockbroker formerly registered with Morgan Stanley, is the subject of a customer initiated investment related arbitration claim, where the customer was awarded $4,000.00 in damages on April 6, 2017, based upon allegations that Kartoon failed to abide by the customer’s instructions to sell the customer’s position in…
James William Forsythe, of New York, New York, a stockbroker formerly registered with Oppenheimer & Co. Inc., is the subject of a customer initiated investment related arbitration claim on December 29, 2016, where the customer requested $2,000,000.00 in damages based upon allegations that from January of 2011 to August of 2016, Forsythe placed unauthorized, excessive…
Melanie Dawn Garcia, of Winter Haven, Florida, a stockbroker formerly registered with LPL Financial LLC, is the subject of a customer initiated investment related written complaint, which settled on August 10, 2016, for $3,115.92 in damages based upon allegations that made misrepresentations to the customer, effected unsuitable private securities transactions, and was liable for the…
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,…
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 Kevin Pheney, of Castle Rock, Colorado, a stockbroker formerly registered with WFG Investments Inc., is the subject of a customer initiated investment related written complaint on December 29, 2016, in which the customer requested $240,000.00 in damages based upon allegations that Pheney made misrepresentations to the customer concerning municipal debt investments effected in the…
Dwarka Persaud, of Little Silver, New Jersey, 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 violated a heightened supervision agreement imposed by New Jersey Bureau of Securities by effecting, inter alia, unauthorized trades in customer accounts. Letter of…
George Lance Calhoun, of New York, New York, a stockbroker registered with Laidlaw & Company (UK) Ltd., is the subject of a customer initiated investment related arbitration claim on April 12, 2017, where the customer requested $114,199.00 in damages based upon allegations that Calhoun effected unsuitable and unauthorized equity trades in the customer’s account. Financial…
Daniel O’Hare Neville, of Crestview Hills, Kentucky, a stockbroker formerly registered with Daniel O’Hare Neville, is the subject of a customer initiated investment related written complaint on May 5, 2017, in which the customer sought $8,000.00 in damages based upon allegations that Neville made unsuitable investment recommendations to the customer regarding mutual funds, and failed…
Roger Salvatore Zullo, of Boston, Massachusetts, 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 Zullo, inter alia, defrauded customers and made unsuitable investment recommendations. Letter…
David John Lomedico, of Melville, New York, a stockbroker formerly registered with Rockwell Global Capital LLC, has been fined $5,000.00 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 the customers. Letter of Acceptance,…
Thomas Einar Gunnersen, of Greenwood Village, Colorado, a stockbroker formerly registered with UBS Financial Services, Inc., is the subject of a customer initiated investment related arbitration claim on August 19, 2016, in which the customer requested $31,873.00 in damages based upon allegations that Gunnersen was responsible for the customer’s losses on high yield bond transactions…
James Patrick McCloskey, of Newport Beach, California, a stockbroker currently registered with Securian Financial Services, Inc., is the subject of a customer initiated investment related civil action on May 4, 2017, in which the customer requested $397,237.00 in damages based upon allegations that McCloskey made misrepresentations to the customer concerning insurance products that the customer…
Michael Dennis Hampton, of Orangevale, California, a stockbroker formerly registered with LPL Financial LLC, 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 failed to provide FINRA staff with information about whether he had complied with a customer…
Peter Michael Malis, of Woodland Hills, California, a stockbroker formerly registered with Wells Fargo Advisors, LLC, is the subject of a customer initiated investment related arbitration claim, which settled on May 2, 2017, for $1,100,000.00 in damages based upon allegations that he effected unsuitable, unauthorized and excessive closed-end fund transactions in the customer’s account, and…
James Benjamin Fellus, of New York, New York, a stockbroker formerly registered with Spencer-Winston Securities Corporation, 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 about his compliance with a customer initiated investment related settlement arrangement or arbitration…
Jack Frank Bruscianelli, of Saint Louis, Missouri, a stockbroker currently registered with National Securities Corporation, is the subject of a customer initiated investment related arbitration claim on April 18, 2017, in which the customer requested $300,000.00 in damages based upon allegations that Bruscianelli breached his fiduciary duties and made unsuitable investment recommendations to the customer…
Thomas Alan Meier, of Miami, Florida, a stockbroker formerly registered with Morgan Stanley, is the subject of a customer initiated investment related complaint on May 2, 2016, which settled for $497,245.90 in damages based upon allegations that between 2013 and 2016, he made misrepresentations concerning the terms and conditions of the customer’s liquidity within the…
Sumitro Pal, of Bethesda, Maryland, a stockbroker formerly registered with Morgan Stanley Smith Barney, is the subject of a customer initiated investment related written complaint on May 1, 2017, in which the customer requested $115,156.00 in damages based upon allegations that the firm failed to supervise Pal’s faulty corporate debt transactions placed in the customer’s…
Joseph Erik Zenker, of Nashville, Tennessee, a stockbroker currently registered with Raymond James & Associates, Inc., is the subject of a customer initiated investment related arbitration claim on June 1, 2017, based upon allegations including breach of contract, negligence, breach of fiduciary duty, violation of the blue sky laws of the State of Louisiana, as…
John Joseph Conroy, of New York, New York, a stockbroker currently registered with Andrew Garret Inc., was identified in a customer initiated investment related written complaint on May 1, 2017, in which the customer requested $99,734.82 in damages based upon allegations that Conroy effected unsuitable over-the-counter equities transactions in the customer’s account. Financial Industry Regulatory…
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…
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…
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…
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…
Rodger James Burskey, of Commerce Township, Michigan, a former stockbroker associated with Voya Financial Advisors, Inc., has been named in a customer initiated investment related arbitration claim, which settled on May 25, 2017, for $19,700.00 in damages based upon allegations that Burskey effected equities transactions in the customer’s account despite the transactions not having been…
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…
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….
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…
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…
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…
Edward Barnett Woll, of Atlanta, Georgia, a chief compliance officer of J.P. Turner & Company, LLC, has been named in a customer initiated investment related arbitration claim on April 18, 2017, in which the customer requested $69,768.00 in damages based upon allegations that he failed to supervise a stockbroker, Dennis Salerno, who effected trades in…
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,…
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…
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…
Connie Jo Binz, of Bryant, Arkansas, a stockbroker formerly registered with MSI Financial Services, Inc., has been named in a customer initiated investment related arbitration claim on June 17, 2016, in which the customer requested approximately $5,000.00 in damages based upon allegations that Binz misstated information to the customer in the course of effecting variable…
Matthew Evan Schwartz, of Syracuse, Indiana, a stockbroker currently registered with Edward Jones, has been named in a customer initiated investment related written complaint on April 17, 2017, in which the customer requested $5,000.00 in damages based upon allegations that he poorly advised a customer in reference to equity transactions effected in the customer’s account,…
Patricia Mary Loris, of Crystal Lake, Illinois, a stockbroker currently registered with Securities America, Inc., has been named in a customer initiated investment related arbitration claim on April 17, 2017, in which the customer requested $200,000.00 in damages based upon allegations that Loris breached her fiduciary and contractual duties to the customer, negligently handled the…
Eliot Charles Cohen, of Los Angeles, California, a stockbroker currently registered with Oppenheimer & Co. Inc., has been named in a customer initiated investment related written complaint on April 17, 2017, in which the customer requested damages estimated to exceed $5,000.00 based upon allegations that Cohen, over an eighteen-month period, effected master limited partnership and…
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…
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…
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…
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…
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,…
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….
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…
Dustin Paul Shafer, of Springfield, Illinois, a stockbroker currently registered with Money Concepts Capital Corp., has been named in a customer initiated investment related written complaint on April 10, 2017, in which the customer requested $75,000.00 in damages based upon allegations that Shafer made poor investment recommendations to the customer about real estate security products,…
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…
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…
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…
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…
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…
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…
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…
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…
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,…
Brent D. Johns, of Dubuque, Iowa, a stockbroker formerly registered with Edward Jones, has been named in a customer initiated investment related written complaint on April 10, 2017, in which the customer requested $35,000.00 in damages based upon allegations that he poorly advised the customer concerning liquidity within a fixed annuity policy issued to the…
Brandon Christopher Oliver, of Hunt Valley, Maryland, a stockbroker formerly registered with Morgan Stanley Smith Barney, has been named in a customer initiated investment related arbitration claim, which settled on June 8, 2016, for $25,000.00 in damages based upon allegations that Oliver, inter alia, made misrepresentations to the customer concerning the surrender of the customer’s…
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…
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…
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…
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…
Anthony Randall Bartlett, of Worcester, Massachusetts, a stockbroker formerly registered with MetLife Securities, has been named in a customer initiated investment related written complaint on May 13, 2016, in which the customer requested $41,686.62 in damages based upon allegations that Bartlett made misrepresentations to the customer concerning a variable annuity. Bartlett has been registered with…
Charles Henry Frieda, of Irvine, California, a stockbroker currently registered with Wells Fargo Clearing Services, LLC, has been named in a customer initiated investment related arbitration claim on March 29, 2017, based upon allegations that Frieda overconcentrated the customer’s holdings in equities that the customer was not suitable for. Financial Industry Regulatory Authority (FINRA) Public…
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…
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…
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…
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…
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…
Kathleen Jeanette Tarr, of Lafayette, California, a stockbroker formerly registered with Royal Alliance Associates, Inc., has been named in a customer initiated investment related arbitration claim, which settled on February 27, 2017, for $550,000.00 in damages based upon allegations that Tarr made unsuitable investment recommendations to the customer regarding real estate securities. Financial Industry Regulatory…
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…
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,…
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…
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…
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…
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…
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…
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…
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…
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…
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…
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…
Stacey Lee Rognon, of Houston, Texas, a stockbroker currently registered with IMS Securities, Inc., has been named in a customer initiated investment related arbitration claim on July 15, 2016, in which the customer requested $3,000,000.00 in damages based upon allegations that Rognon made misrepresentations to the customer concerning investments, breached his fiduciary obligations to the…
Steven W. Shirley, of Friendswood, Texas, a stockbroker currently registered with IMS Securities, Inc., has been named in a customer initiated investment related arbitration claim on November 10, 2016, in which the customer requested $100,000.00 in damages based upon allegations that Shirley breached his fiduciary duties to the customer, and failed to conduct reasonable due…
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…
Ronald Arthur Christopher Jr., of Altamonte Springs, Florida, a stockbroker formerly registered with Merrimac Corporate Securities, Inc., has been named in a customer initiated investment related arbitration claim on October 13, 2016, in which the customer requested $400,000.00 in damages based upon allegations that Christopher breached his fiduciary obligations to the customer, negligently handled the…
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…
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…
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…
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…
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…
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…
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…
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…
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…
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…
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…
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,…
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…
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…
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…
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…
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…
Garry Lynn Osing, of Cordova, Tennessee, a stockbroker currently registered with WFG Investments, Inc., has been named in a customer initiated investment related arbitration claim on January 31, 2017, in which the customer requested $30,924.00 in damages based upon allegations that Osing made unsuitable investment recommendations to the customer regarding real estate securities and equipment…
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…
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…
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…
Robert Russel Tweed, of San Marino, California, a stockbroker formerly registered with Concorde Investment Services, LLC, has been named in an investigation by Financial Industry Regulatory Authority (FINRA) pursuant to the receipt of a Wells Notice regarding Tweed’s conduct. FINRA Public Disclosure reveals that Tweed has been identified in twelve customer initiated investment related disputes…
Christopher Michael Connolly, of Houston, Texas, a registered representative formerly associated with Planmember Securities Corporation, has been named in a customer initiated investment related civil action on February 6, 2017, in which the customer requested $250,000.00 in damages based upon allegations that Connolly failed to inform the customer about costs pertaining to the customer’s life…
Kevin Keane, of Chicago, Illinois, a stockbroker currently registered with National Securities Corporation, has been named in a customer initiated investment related arbitration claim, which settled on June 26, 2014, for $11,800.00 in damages based upon allegations that Keane negligently handled the customer’s investment account, breached his fiduciary duties, made misrepresentations to the customer, effected…
Ahmad Wares, a stockbroker formerly registered with EKN Financial Services, Inc., has been named in a customer initiated investment related arbitration claim on January 23, 2016, in which the customer requested $288,340.00 in damages based upon allegations that Wares breached his fiduciary duties, effected over-the-counter equity trades in the customer’s account on an excessive basis,…
Todd Douglas Ryman, of Atlanta, Georgia, a stockbroker formerly registered with Raymond James & Associates, Inc., has been named in a customer initiated investment related written complaint on February 15, 2017, in which the customer requested $300,000.00 in damages based upon allegations that Ryman committed securities related misconduct in reference to the customer’s transactions regarding…
William Nicholas Athas, of Ronkonkoma, New York, a stockbroker formerly registered with K.C. Ward Financial, has been named in a customer initiated investment related arbitration claim on February 16, 2017, in which the customer requested $290,000.00 in damages based upon allegations including: the use of fraudulent or manipulative contrivances or devices; breach of duty of…
Vincente Castillo, of San Juan, Puerto Rico, a stockbroker currently registered with UBS Financial Services Inc., and UBS Financial Services Incorporated of Puerto Rico, has been named in a customer initiated investment related arbitration claim on January 6, 2017, in which the customer requested $325,000.00 in damages based upon allegations that Castillo overconcentrated the customer’s…
Wayne David Kandas, of Tempe, Arizona, a stockbroker formerly registered with MetLife Securities, Inc., has been named in a customer initiated investment related written complaint on May 26, 2016, based upon allegations that Kandas made misrepresentations to the customer regarding variable annuity products. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Kandas has been…
Michael Robert Molinaro, of Long Beach, New York, a chief compliance officer of Charles Vista, LLC, has been named in a customer initiated investment related arbitration claim on August 26, 2015, in which the customer requested $130,628.37 in damages based upon allegations that Molinaro failed to supervise the activities of a registered representative concerning over-the-counter…
Steven Howard Bright, of Dallas, Texas, a stockbroker formerly registered with Wunderlich Securities, Inc., has been named in a customer initiated investment related written complaint on September 30, 2016, in which the customer requested $17,000.00 in damages based upon allegations that Bright effected exchange traded note transactions in the customer’s account on an excessive and…
Brad C. Lawing, of Springfield, Missouri, a stockbroker currently registered with Cambridge Investment Research, Inc., has been named in a customer initiated investment related written complaint on January 19, 2017, in which the customer requested $8,500.00 in damages based upon allegations that Lawing failed to apprise the customer concerning the fees associating with the switching…
Steven Rocco Colli, of Morristown, New Jersey, a stockbroker currently registered with Morgan Stanley, has been named in a customer initiated investment related written complaint on February 16, 2017, based upon allegations that Colli, from 2014 to 2017, utilized the customer’s margin without authorization to effect options and equity transactions. Financial Industry Regulatory Authority (FINRA)…
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…
Matthew Hugh Hurley, of San Diego, California, a stockbroker formerly registered with Oppenheimer & Co. Inc., has been named in a customer initiated investment related arbitration claim, which settled on November 10, 2016, for $15,000.00 in damages based upon allegations that Hurley failed to execute upon the customer’s stop loss order, and charged the customer…
Jeffrey Carmen Sica, of Parsippany, New Jersey, a registered representative associated with Sica Wealth Management, has been named in a customer initiated investment related arbitration claim, which settled on April 27, 2015, for $211,250.00 in damages based upon allegations that Sica effected unsuitable stock and exchange traded fund (ETF) transactions in the customer’s account. Financial…
Joseph Peter Canciglia, of Hackensack, New Jersey, a stockbroker formerly registered with Stifel, Nicolaus & Company, Inc., has been named in a customer initiated investment related arbitration claim on April 20, 2016, in which the customer requested $20,000.00 in damages based upon allegations that Canciglia advised a customer to invest $20,000.00 into a unit investment…
Alan Neal Rose, of Melville, New York, a stockbroker currently registered with Wells Fargo Clearing Services, LLC, has been named in a customer initiated investment related arbitration claim on January 16, 2017, in which the customer requested $100,000.00 in damages based upon allegations that from 2013 to 2016, Rose over-concentrated the customers’ portfolio in investments…
Enrique Fernandez, of San Juan, Puerto Rico, a stockbroker formerly registered with UBS Financial Services Inc., has been named in eighteen customer initiated investment related disputes between April 16, 2014, and January 6, 2017, based upon allegations that Fernandez made omissions and misrepresentations to customers concerning the safety of investments in Puerto Rico municipal bonds…
Joseph Kelly, of New York, New York, a stockbroker currently registered with Spartan Capital Securiites, LLC, has been named in a customer initiated investment related arbitration claim on April 4, 2016, in which the customer requested $450,000.00 in damages based upon allegations that Kelly made misrepresentations to the customer concerning equity investments, and excessively traded…
David Jose Lugo, of San Juan, Puerto Rico, a stockbroker formerly registered with UBS Financial Services, has been named in one-hundred and twenty-four customer initiated investment related disputes between November 19, 2013, and January 29, 2017, based upon allegations against Lugo which include overconcentration of customer assets, misrepresentation, and unsuitability concerning the investments in Puerto…
Stephen Frederick Owen III, of Annapolis, Maryland, a stockbroker currently registered with UBS Financial Services Inc., has been named in a customer initiated investment related arbitration claim on January 12, 2017, in which the customer requested $650,000.00 in damages based upon allegations that from 2015 to 2017, Owen overconcentrated the customer’s investment portfolio in speculative…
Philip Orezio Fatta, of Holtsville, New York, a stockbroker formerly registered with Blackbook Capital, LLC, has been named in a customer initiated investment related arbitration claim on June 15, 2016, in which the customer requested $381,195.16 in damages based upon allegations that Fatta breached his fiduciary and contractual duties, churned the customer’s account, effected unsuitable…
Tom Gilliam Parks, Jr., of Stephenville, Texas, a stockbroker formerly registered with Ameriprise Financial Services, Inc., has been named in a customer initiated investment related arbitration claim on January 19, 2017, in which the customer requested $180,000.00 in damages based upon allegations that Parks made unsuitable investment recommendations and misrepresentations to the customer concerning oil…
Laurence Michael Braunstein, of New York, New York, a stockbroker formerly registered with Morgan Stanley, has been named in a customer initiated investment related arbitration claim on August 5, 2016, in which the customer requested $100,000.00 in damages based upon allegations that Braunstein, from 2014 to 2015, effected unsuitable closed end fund, unit investment trust,…
Dario Suarez, of Ponce, Puerto Rico, a stockbroker currently registered with UBS Financial Services Inc. and UBS Financial Services Incorporated of Puerto Rico, has been named in a customer initiated investment related arbitration claim on January 18, 2017, in which the customer requested $1,000,000.00 in damages based upon allegations that Suarez effected unsuitable transactions involving…
Robert Lansing Hicks, of Irvine, California, a former owner of Finance 500, Inc., a brokerage firm headquartered in Irvine California, has been named in a customer initiated investment related arbitration claim on January 11, 2017, in which the customer requested $102,500.00 in damages based upon allegations that Hicks breached his contractual and fiduciary obligations to…
Michael Allen Toy, of Sunnyvale, California, a stockbroker currently registered with LPL Financial LLC, has been named in a customer initiated investment related written complaint on January 11, 2017, based upon allegations that Toy failed to abide by the customer’s investment instructions concerning the trading of mutual fund investments. Financial Industry Regulatory Authority (FINRA) Public…
Paul Theodore Dicicco, of Millbury, Massachusetts, a stockbroker formerly registered with Transamerica Financial Advisors, Inc., has been named in a customer initiated investment related written complaint on March 28, 2016, in which the customer requested $6,000.00 in damages based upon allegations that Dicicco made misrepresentations to the customer concerning the features of a variable annuity…
Brandon M. Adkins, of Eau Claire, Wisconsin, a stockbroker formerly registered with Merrill Lynch, Pierce, Fenner & Smith, has been named in a customer initiated investment related written complaint, which settled on September 2, 2014, for $22,966.32 in damages based upon allegations that Adkins made misrepresentations and unsuitable investment recommendations to the customer regarding exchange…
Michael Roy Blueweiss, of Melville, New York, a stockbroker currently registered with UBS Financial Services Inc., has been named in a customer initiated investment related written complaint on November 3, 2014, based upon allegations that Blueweiss churned the customer’s account, concentrated the customer’s investment portfolio in structured products and annuities, and omitted information from the…
Bill Alfons Holubec, of Des Moines, Iowa, a stockbroker formerly registered with Royal Alliance Associates, Inc., has been named in a customer initiated investment related arbitration claim on January 9, 2017, in which the customer requested $500,000.00 in damages based upon allegations that Holubec effected unsuitable transactions in the customer’s account and made misrepresentations to…
Michael Nicholas Guilfoyle, of New York, New York, a stockbroker formerly registered with Legend Securities, Inc., has been named in a customer initiated investment related arbitration claim, which settled on October 2, 2015, for $99,999.00 in damages based upon allegations that Guilfoyle excessively traded or churned the customer’s investment account, made unsuitable over-the-counter equity recommendations,…
Albert Dishner, of New York, New York, a stockbroker formerly registered with Credit Suisse Securities (USA) LLC, has been named in a customer initiated investment related arbitration claim, which settled on December 30, 2016, for $205,000.00 in damages based upon allegations that include churning, excessive trading, violation of state and federal securities laws, violation of…
Jed Edward Turner, of Missoula, Montana, a stockbroker formerly registered with Western International Securities, Inc., has been named in a customer initiated investment related arbitration claim on August 10, 2016, in which the customer requested $181,668.00 in damages based upon allegations that Turner negligently handled the customer’s stock portfolio. Financial Industry Regulatory Authority (FINRA) Public…
Efthimios Emmanouilidis, of Wellesley, Massachusetts, a stockbroker currently registered with Morgan Stanley, has been named in a customer initiated investment related arbitration claim on August 11, 2016, in which the customer requested $500,000.00 in damages based upon allegations that Emmanouilidis made misrepresentations to the customer concerning managed accounts. Financial Industry Regulatory Authority (FINRA) Public Disclosure…
Scott William Palmer, of Hackensack, New Jersey, a stockbroker currently registered with Janney Montgomery Scott LLC, has been named in a customer initiated investment related arbitration claim on July 26, 2016, in which the customer requested $75,000.00 in damages based upon allegations that Palmer effected unsuitable stock transactions in the customer’s investment account. Financial Industry…
Michael J. Spears, of Houston, Texas, a stockbroker currently registered with IMS Securities, Inc., has been named in a customer initiated investment related arbitration claim on August 19, 2016, in which the customer requested $1,667,000.00 in damages based upon allegations that Spears breached his fiduciary duties owed to the customer, made misrepresentations concerning real estate…
David Howard Fagenson, of Palm Beach, Florida, a stockbroker formerly registered with UBS Financial Services Inc., has been named in a customer initiated investment related written complaint on September 26, 2016, based upon allegations that from 2013 to 2016, Fagenson effected unauthorized trades in the customer’s account and failed to abide by the customer’s instructions…
Brett Scott Murphy, of Palm Beach Gardens, Florida, a stockbroker formerly registered with Oppenheimer & Co. Inc., has been named in a customer initiated investment related arbitration claim on August 11, 2016, in which the customer requested $2,000,000.00 in damages based upon allegations that Murphy effected unsuitable unit investment trust transactions in the customer’s account,…
James Edward Knee, of Concord, New Hampshire, a stockbroker formerly registered with Ameriprise Financial Services, Inc., has been named in a customer initiated investment related arbitration claim, which settled on December 21, 2015, for $17,000.00 in damages based upon allegations that Knee made unsuitable investment recommendations to the customer concerning a royalty trust purchase. Financial…
Purshe Kaplin Sterling Investments headquartered in Albany, New York, was censured and fined $750,000.00 by Financial Industry Regulatory Authority (FINRA) Department of Enforcement, and ordered to pay $3,373,303.68 in restitution according to an Office of Hearing Officers’ Order Accepting Offer of Settlement containing findings that the firm failed to supervise a registered representative’s dual relationship with…
Todd Joseph Henrich, of Edison, New Jersey, a stockbroker currently registered with National Securities Corporation, has been named in a customer initiated investment related arbitration claim, which settled on September 29, 2015, for $26,000.00 in damages based upon allegations that Henrich negligently handled the customer’s investment portfolio, breached his fiduciary duties, made misrepresentations to the…
Chadwick C. Collins, of Carlsbad, California, a stockbroker formerly registered with Wells Fargo Advisors, LLC, has been named in a customer initiated investment related arbitration claim, which settled on April 18, 2016, for $86,559.31 in damages based upon allegations that Collins, from December of 2015 to March of 2016, failed to disclose commissions charged to…
Samuel T. Januszeqski-Ytrt, of Mineola, New York, a stockbroker formerly registered with Blackbook Capital LLC, has been named in a customer initiated investment related arbitration claim on November 21, 2016, in which the customer requested $250,000.00 in damages based upon allegations that Januszeqski-Ytrt breached his fiduciary duties, made misrepresentations concerning investments, and defrauded the customer…
Curtis Dean Milakovich, of Naples, Florida, a stockbroker currently registered with Kovack Securities Inc., has been named in a customer initiated investment related arbitration claim on August 31, 2016, based upon allegations that Milakovich made unsuitable investment recommendations to the customer, implemented an unsuitable strategy for investing, and churned the customer’s account. The customer additionally…
Jill M. Cody, of Spring Lake, New Jersey, a stockbroker formerly registered with Westminster Financial Securities, Inc., has been named in a customer initiated investment related written complaint on January 18, 2017, based upon allegations that Cody misappropriated the customer’s funds. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Cody has been identified in…
Baris Cabalar, of Hauppauge, New York, a stockbroker formerly registered with Legend Securities, Inc., has been named in a customer initiated investment related arbitration claim on March 8, 2016, in which the customer requested $100,000.00 in damages based upon allegations that Cabalar violated the Arkansas Securities Act, churned the customer’s account, breached his contractual and…
Dean Sadrudin Mustaphalli, of Forest Hills, New York, a stockbroker formerly registered with Sterne Agee Financial Services, Inc., has been named in a customer initiated investment related arbitration claim, which settled on December 1, 2015, for $400,000.00 in damages based upon allegations that Mustaphalli made misrepresentations to the customer concerning direct investment products, and effected…
Michael Jay Sharenow, of Florham Park, New Jersey, a stockbroker formerly registered with Wells Fargo Advisors, LLC, has been named in a customer initiated investment related written complaint on November 1, 2016, based upon allegations that Sharenow effected unauthorized corporate debt securities transactions in the customer’s account. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals…
Gary Marlin Arford, of Lynwood, Washington, a stockbroker formerly registered with Comprehensive Wealth Management, LLC, was named in a customer initiated investment related arbitration claim on September 12, 2016, wherein the customer requested $140,760.00 in damages based upon allegations that Arford made unsuitable investment recommendations and effected unsuitable transactions in the customer’s account pertaining to…
Tomas Juhan Velken, of Lafayette, 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 customer requested $1,600,000.00 in damages based upon allegations that Velken failed to reasonably conduct diligence concerning tenant in common investments which the customer…
Jesus Delacarridad Rodriguez, of Miami, Florida, a stockbroker currently registered with IMS Securities, Inc., has been named in a customer initiated investment related arbitration claim on August 19, 2016, in which the customer requested $1,667,000.00 in damages based upon allegations that Rodriguez breached his fiduciary duties, made misrepresentations to the customer, and negligently handled the…
Gerald James Ohalloran, a stockbroker currently registered with Kovack Securities Inc., has been named in a customer initiated investment related arbitration claim on August 2, 2016, in which the customer requested $135,000.00 in damages based upon allegations that Ohalloran breached his fiduciary and contractual duties to the customer, made misrepresentations and omissions concerning investments, and…
Donnie Eugene Ingram, of Winter Haven, Florida, a stockbroker formerly registered with Investors Capital Corp., has been named in a customer initiated investment related arbitration claim on November 16, 2016, in which the customer requested $906,353.70 in damages based upon allegations that Ingram effected unsuitable transactions in the customer’s account pertaining to corporate debt, equity…
Jeanpaul Charles Skovronck, of New York, New York, a stockbroker formerly registered with Legend Securities, Inc., has been named in a customer initiated investment related arbitration claim on August 29, 2016, in which the customer requested $200,000.00 in damages based upon allegations that Skovronck negligently handled the customer’s investment portfolio, breached his fiduciary and contractual…
Perry De Leeuw, of Duluth, Georgia, a stockbroker formerly registered with PFS Investments Inc., has been named in a customer initiated investment related arbitration claim on December 5, 2016, in which the customer requested $100,000.00 in damages based upon allegations that Leeuw took possession of a customer’s funds in connection with an outside business activity…
Andrew Patrick Murino, a stockbroker currently registered with Alexander Capital, L.P., has been named in a customer initiated investment related arbitration claim on December 1, 2016, in which the customer requested $38,084.00 in damages based upon allegations that Murino effected unauthorized and unsuitable over-the-counter equity trades in the customer’s account, and breached his fiduciary duty…
Howard Davis Brous, of Great Neck, New York, the former president and founder of defunct HD Brous, as a stockbroker currently registered with Wunderlich Securities, Inc., has been named in a customer initiated investment related arbitration claim on August 25, 2016, in which the customer requested $2,500,000.00 in damages based upon allegations that Brous breached…
Robert Michael Giusti, of New York, New York, a stockbroker formerly registered with Merrill Lynch, Pierce, Fenner & Smith Inc., has been named in a customer initiated investment related arbitration claim on April 24, 2015, in which a customer was ultimately awarded $300,000.00 in damages based upon allegations that from 2010 to 2015, Giusti made…
Garland Wayne Benton Jr., of Richardson, Texas, a stockbroker formerly registered with Reef Securities, Inc., has been named in a customer initiated investment related arbitration claim on April 14, 2014, in which the customer requested $946,670.00 in damages based upon allegations that Benton engaged in unauthorized investment solicitations, breached his contractual duties, omitted facts concerning…
Harris Wayne Kirk, or Richardson, Texas, a stockbroker currently registered with Reef Securities, Inc., has been named in a customer initiated investment related arbitration claim on February 11, 2016, in which the customer requested $250,000.00 in damages based upon allegations that Kirk breached his contractual duties, and failed to conduct proper due diligence as well…
Shaun Evan Stein, of New York, New York, a stockbroker formerly registered with J.P. Turner & Company, L.L.C., has been named in a customer initiated investment related arbitration claim on June 30, 2014, in which the customer requested $75,000.00 in damages based upon allegations that Stein breached his contractual duties owed to the customer, engaged…
Keith Lawton James Connolly, of Syosset, New York, a stockbroker currently registered with J.D. Nicholas & Associates, Inc., has been named in a customer initiated investment related arbitration claim, which settled on July 20, 2016, for $43,976.90 in damages based upon allegations that Connolly effected unsuitable equity transactions in the customer’s account, overconcentrated the customer’s…
Charles Bernard Lynch, a stockbroker formerly registered with Wells Fargo Advisors, LLC, has been named in Forty Three customer initiated investment related disputes between October 6, 2014, and August 9, 2016, which collectively settled for $6,932,566.03 in damages based upon allegations against Lynch which included unsuitability, misrepresentation, negligence, and account mismanagement. Financial Industry Regulatory Authority…
Marcious Dickerson, of Livonia, Michigan, a stockbroker currently registered with Centaurus Financial, Inc., has been named in a customer initiated investment related arbitration claim, which settled on September 1, 2015, for $97,983.70 in damages based upon allegations that Dickerson breached his fiduciary and contractual duties to the customer, effected unsuitable transactions in the customer’s account,…
Charles Henry Frieda, of Irvine, California, a stockbroker currently registered with Wells Fargo Clearing Services, LLC, has been named in thirty-two customer initiated investment related disputes between October 6, 2014, and October 25, 2016, which have collectively settled for $5,268,553.00 in damages based upon allegations that Frieda effected unsuitable transactions in the customers’ accounts, which…
Michael Christopher Venturino, of Uniondale, New York, a stockbroker currently registered with Aegis Capital Corp., has been named in a customer initiated investment related arbitration claim on April 12, 2016, in which the customer requested $515,000.00 in damages based upon allegations that from June of 2014 to January of 2016, Venturino effected over-the-counter equity trades…
Kerry Patrick Raheb, a stockbroker formerly registered with the Garden City, New York office of Spartan Capital Securities, LLC, has been named in a customer initiated investment related written complaint on July 21, 2014, in which the customer requested $37,214.99 in damages based upon allegations that Raheb coerced the customer to purchase over-the-counter equities which…
Daniel John Dunn, of Mission Viejo, California, a stockbroker currently registered with Woodbury Financial Services, Inc., has been named in a customer initiated investment related written complaint on August 17, 2015, in which the customer requested $48,624.47 in damages based upon allegations that Dunn made unsuitable investment recommendations to the customer concerning the sale of…
Brian J. Zimmerman, of San Diego, California, a stockbroker formerly registered with Liberty Partners Financial Services, LLC, has been named in a customer initiated investment related arbitration claim, in which the customer was awarded $20,000.00 in damages on March 14, 2016, based upon allegations that Zimmerman made misrepresentations and omissions to the customer, churned the…
John David Fenimore, of Melville, New York, a stockbroker formerly registered with Aegis Capital Corp., has been named in a customer initiated investment related arbitration claim on June 9, 2014, in which the customer requested $250,000.00 in damages based upon allegations that Fenimore utilized the customer’s margin in an unsuitable manner, effected equity trades in…
Daniel George McPherson, of Idaho Falls, Idaho, a stockbroker currently registered with Cetera Advisors LLC, has been named in a customer initiated investment related written complaint on March 7, 2016, in which the customer requested $40,151.00 in damages based upon allegations that McPherson effected unsuitable fixed annuity transactions in the customer’s account. Financial Industry Regulatory…
Indra Ramsahai, of New York, New York, a stockbroker formerly registered with Aegis Capital Corp, has been named in a customer initiated investment related arbitration claim, which settled on July 18, 2016, for $90,000.00 in damages based upon allegations that Ramsahai churned the customer’s investment account and effected unsuitable leveraged exchange traded fund transactions. Financial…
William Jeffrey Carlton, of Vienna, Virginia, a stockbroker currently registered with UBS Financial Services Inc., has been named in a customer initiated investment related arbitration claim on November 10, 2016, in which the customer requested $525,000.00 in damages based upon allegations that Carlton effected unsuitable equity and limited partnership interest transactions in the customer’s account,…
James Bryant Eichner Junior, 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 30, 2015, in which the customer requested $500,000.00 in damages based upon allegations that Eichner negligently handled the customer’s investment account and breached his fiduciary…
Allan P. Montalbano, of Garden City, New York, a stockbroker formerly 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 $350,000.00 in damages based upon allegations that Montalbano breached his contractual and fiduciary duties, negligently handled the customer’s investment…
Eugene Theodore Smietana, of Traverse City, Michigan, a stockbroker formerly registered withEugene Theodore Smietana, has been named in a customer initiated investment related written complaint, which settled on December 7, 2015, for $87,750.00 in damages based upon allegations that Smietana effected equity trades in the customer’s account on an excessive and unsuitable basis. Financial Industry…
William David Utanski, of Fort Lauderdale, Florida, a stockbroker currently registered with Ameriprise Financial Services, Inc., has been named in a customer initiated investment related arbitration claim, which settled on March 7, 2016, for $3,000.00 in damages based upon allegations that Utanski effected unsuitable stock transactions in the customer’s account pertaining to Dendreon Corporation, which…
James Christopher Hayne, a stockbroker formerly registered with Cetera Advisors LLC, has been named in a customer initiated investment related arbitration claim on December 13, 2016, in which the customer requested $500,000.00 in damages based upon allegations that Hayne Hayne breached his fiduciary duties, effected stock trades on an excessive basis, failed to diversify the…
Henry Al Dean Watson, a stockbroker formerly registered with J.J.B. Hilliard, W.L. Lyons, 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 FINRA in an investigation into allegations of his misconduct. Letter of Acceptance, Waiver…
Christiane Olsen, of New York, New York, a stockbroker currently registered with UBS Financial Services Inc., has been named in a customer initiated investment related arbitration claim, which settled on November 28, 2016, for $29,000.00 in damages based upon allegations that Olsen effected unsuitable master limited partnership and stock transactions in the customer’s account that…
What does the Whitney Bank or JC Whitney have to do with Salomon Brothers or Salomon Smith Barney? What does a Salomon or a Whitney have to do with Johnny Prinzivalli from Long Island? Nothing. But Salomon Whitney Financial is a brokerage firm with a fancy sounding name located lovely Farmingdale, New York, and founded by a…
James Walter Ignatowich, of Boca Raton, Florida, a stockbroker formerly registered with Newbridge Securities Corporation, has been named in a customer initiated investment related arbitration claim on December 21, 2016, in which the customer requested $61,469.00 in damages based upon allegations that Ignatowich violated the Iowa Securities Act, made misrepresentations to the customer, negligently handled…
John Columbia, of Garden City, New York, a stockbroker formerly registered with Woodstock Financial Group, Inc., has been named in a customer initiated investment related arbitration claim, which settled on April 15, 2015, for $167,383.05 in damages based upon allegations that Columbia made misrepresentations to the customer, breached his contractual duties, negligently handled the customer’s…
Edward Louis Barger, of Miami Florida, a stockbroker formerly registered with Morgan Stanley Smith Barney, has been named in a customer initiated investment related arbitration claim on April 4, 2016, which was based upon allegations that between August of 2011 and December of 2015, Barger effected unsuitable closed-end funds and equity transactions in the customer’s…
George Craig Merhoff Jr., a stockbroker currently registered with Cetera Advisors LLC, has been named in a customer initiated investment related arbitration claim on July 14, 2016, which is based upon allegations that Merhoff committed violations of securities laws in the State of Oregon, breached his fiduciary and contractual duties to the customer, effected unsuitable…
Lisa Ann Wolf, of Chicago, Illinois, a stockbroker currently registered with Merrill Lynch, Pierce, Fenner & Smith Incorporated, has been named in a customer initiated investment related arbitration claim, which settled on April 10, 2015 for $150,000.00 in damages based upon allegations that from July of 2008 to June of 2014, Wolf made misrepresentations and…
Jacquin P. Fink, a stockbroker currently registered with Merrill Lynch, Pierce, Fenner & Smith, has been named in a customer initiated investment related written complaint on October 13, 2016, in which the customer requested $300,000.00 in damages based upon allegations that between October 2015 and October 2016, Fink made unsuitable equity investment recommendations to the…
Charles Alan Correal, of Pittsburgh, Pennsylvania, a stockbroker formerly registered with Morgan Stanley Smith Barney, has been named in a customer initiated investment related arbitration claim on February 29, 2016, in which the customer requested $180,000.00 in damages based upon allegations that between 2008 to 2016, Correal effected unsuitable transactions in the customer’s account pertaining…
Jason Wilk, of New York, New York, a stockbroker formerly registered with National Securities Corporation, has been named in a customer initiated investment related complaint, which settled on September 7, 2016 for $15,000.00 based upon allegations that Wilk effected unsuitable over-the-counter equities transactions in the customer’s account. On the same day, another customer initiated investment…
Robert Alden Cannon, of Issaquah, Washington, a stockbroker formerly registered with Pacific West Securities, Inc., has been named in a customer initiated investment related arbitration claim on December 16, 2014, in which the customer requested $175,000.00 in damages based upon allegations that Cannon negligently handled the customer’s investment account, committed violations of FINRA Rule 2111…
Daniel Cleophas Alcide, of Red Bank, New Jersey, a stockbroker formerly registered with J.P. Turner & Company, L.L.C., has been named in a customer initiated investment related written complaint on December 3, 2015, in which the customer requested $150,000.00 in damages based upon allegations that Alcide engaged in high pressure sales tactics, made misrepresentations concerning…
James William Flower, of Melville, New York, a stockbroker formerly registered with Laidlaw & Company (UK) Ltd., has been named in a customer initiated investment related written complaint, which settled on November 12, 2015 for $45,000.00 in damages based upon allegations that Flower effected unsuitable equity transactions and churned the customer’s investment account. Financial Industry…
Gregg D. Templeton, of New York, New York, a stockbroker formerly registered with Oppenheimer & Co. Inc., was named in a customer initiated investment related arbitration claim on December 20, 2016, which settled for $562,500.00 in damages based upon allegations that from July 1, 2010 to March 31, 2015, Templeton misappropriated the customer’s funds, effected…
David L. Ferland, of York, Maine, a stockbroker formerly registered with Invest Financial Corporation, has been named in a customer initiated investment related civil action, which settled on July 26, 2016, for $749,804.03 in damages based upon allegations that Ferland misled the customer regarding the purchase of an unsuitable annuity transaction, a home equity loan,…
Bradley Joseph Ross, of Fort Lauderdale, Florida, a stockbroker with UBS Financial Services Inc., has been named in a customer initiated investment related arbitration claim on May 19, 2016, in which the customer requested $99,000.00 in damages based upon allegations that Ross effected unauthorized trades and overconcentrated the customer’s assets in exchange traded funds, mutual…
James Michael Noto, of Trinity, Florida, a stockbroker currently registered with Summit Brokerage Services, Inc., has been named in a customer initiated investment related arbitration claim, which settled on August 3, 2016 for $25,000.00 in damages. The customer’s claim was based upon allegations that Noto effected an unsuitable variable annuity contract. FINRA Public Disclosure reveals…
Craig Lansing Hayward, of Lafayette, Colorado, a stockbroker currently registered with Mid Atlantic Capital Corporation, has been named in a customer initiated investment related arbitration claim on April 11, 2016, in which the customer requested $707,500.00 in damages based upon allegations that between 2007 and 2014, Hayward negligently handled the customer’s account, breached his fiduciary…
Steven Joel Shmulewitz, of Garden City, New York, a stockbroker with Craft Capital Management LLC, has been named in a customer initiated investment related complaint, which settled for December 21, 2016 for $30,000.00 in damages. The customer’s complaint was based upon allegations that Shmulewitz failed to execute the customer’s October 2016 stop loss orders pertaining…
Zahir Walji, of Austin, Texas, a stockbroker formerly registered Oppenheimer & Co. Inc., was named in two customer initiated investment related arbitration claims between June 6, 2010, and June 10, 2016, in which the customers collectively requested $1,640,000.00 in damages based upon allegations that Walji was liable to customers who had not received repayment of…
Mitchel Allan Foote, of Manhattan, Kansas, a stockbroker formerly registered with Broker Dealer Financial Services Corp., was named in a customer initiated investment related written complaint on May 12, 2014, in which the customer requested $30,000.00 in damages based upon allegations that Foote misrepresented an illiquid real estate security investment to a customer. FINRA Public…
Cory David Bataan, of Melville, New York, a stockbroker currently registered with Aegis Capital Corp., has been named in a customer initiated investment related arbitration claim, which settled on August 25, 2015 for $25,000.00 in damages based upon allegations that Bataan made unsuitable investment recommendations concerning over-the-counter equities and generated commissions and fees which were…
Mark Nicholas Wesley, of Independence, Ohio, a stockbroker with Ameriprise Financial Services, Inc., was permitted to resign by the firm on June 17, 2016, based upon allegations that Wesley, inter alia, effected authorized trades in in customer accounts, and utilized discretion in accounts without firm approval. FINRA Public Disclosure reveals that Wesley has been named…
Victor Eugene Lambert III, of Melville, New York, a stockbroker formerly registered with Morgan Stanley, was named in a written customer complaint, which settled on April 7, 2016 for $85,000.00 in damages based upon allegations that Lambert effected unsuitable equity transactions in the customer’s investment account. FINRA Public Disclosure reveals that Lambert has been identified…
Michael Laurence DiGaetano, of Lewiston, New York, a stockbroker formerly registered with J.P. Turner & Company, L.L.C., has been named in a customer initiated investment related arbitration claim in which the customer has requested $725,000.00 in damages based upon allegations that DiGaetano breached his fiduciary and contractual obligations to the customer, negligently handled the customer’s…
Caeron Arlington McClintock, of New York, New York, a broker formerly registered with EJ Sterling, has been named in a customer initiated investment related arbitration claim on November 22, 2016, in which the customer has requested $135,593.00 in damages based upon allegations that McClintock breached his fiduciary and contractual duties to the customer, churned the…
David Bruce White, of Bloomfield Hills, Michigan, a stockbroker currently registered with Centaurus Financial, Inc., has been named in a customer initiated investment related arbitration claim on July 27, 2016, in which the customer requested $75,000.00 in damages based upon allegation that White’s recommendations in limited partnership interests and direct participation programs caused the customer…
Joshua David Arnold, of Edina, Minnesota, a stockbroker formerly registered with TradingBlock, has been named in a customer initiated investment related arbitration claim from September 12, 2016, in which the customer requested $250,000.00 in damages based upon allegations that Arnold breached his contractual and fiduciary duties to the customer, made unsuitable investment recommendations, and negligently…
William Dean Byrd, of Tampa, Florida, a stockbroker formerly registered with Transamerica Financial Advisors, Inc., was named in a customer initiated investment related arbitration claim on June 2, 2016, which settled for $42,500.00 in damages based upon allegations that Byrd breached his fiduciary obligations to the customer, made misrepresentations concerning investments, and made investment recommendations…
Joseph Chad Zastrow, of Fort Collins, Colorado, a stockbroker currently registered with Thrivent Investment Management Inc., was named in a customer initiated investment related arbitration claim on August 5, 2016, which settled for $2,861.98 in damages based upon allegations that Zastrow failed to retrieve the customer’s information regarding suitability prior to making investment recommendations, and…
Raymond Willis Harrison, a stockbroker formerly associated with ProEquities, Inc. has been named in a customer initiated investment related arbitration claim on October 12, 2016, in which the customer has requested $603,000.00 in damages based upon allegations that Harrison made omissions to the customer concerning investments, did not conduct a reasonable level of due diligence…
Wayde Christian Carter Walker, 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 December 28, 2015, in which the customer requested $513,218.40 in damages based upon allegations that Walker made misrepresentations to the customer concerning investments, breached his fiduciary…
Rodney Bahy Ibrahim, of New York, New York, a stockbroker formerly registered with Maxim Group, LLC, was terminated from the company on June 23, 2015, based upon allegations that he made misrepresentations to a customer following a wire transfer request. FINRA Public Disclosure reveals that on December 9, 2009, Ibrahim was named in a customer…
Walter Joseph Marino, of Hauppauge, New York, a stockbroker formerly registered with Legend Equities Corporation, has been named in four customer initiated investment related arbitration actions between March 14, 2016, and July 18, 2016, in which the customers have collectively requested $433,101.00 in damages based upon allegations that Marino excessively charged the customers with commissions…
Charles John Obryant III, of Raleigh, North Carolina, a stockbroker formerly registered with Stifel, Nicolaus & Company, has been named in a customer initiated investment related arbitration claim on October 2, 2015, which settled for $632,298.00 in damages based upon allegations that Obryant negligently handled the customer’s investment account, breached his fiduciary duty, and effected…
Dean John Kajouras, of New York, New York, a stockbroker with Fordham Financial Management, Inc., has been named in a customer initiated investment related arbitration claim on March 7, 2016, in which the customer requested $115,414.22 in damages based upon allegations that Kajouras made misrepresentations to the customer concerning investments, breached his contractual obligations, effected…
Joel Nathan Burstein, of Coral Gables, Florida, a stockbroker currently registered with Raymond James & Associates, Inc., has been named in a customer initiated investment related arbitration claim or civil action on March 5, 2016, in which the customer requested $200,000,000.00 in damages based upon allegations including fraud, theft, misappropriation of customer funds, conspiracy to…
Marc Neil Kalter, of Garden City, New York, a stockbroker formerly registered with Woodstock Financial Group, has been named in a customer initiated investment related arbitration claim on March 21, 2016, in which the customer requested $182,000.00 in damages based upon allegations that Kalter breached his fiduciary duty to the customer, excessively traded and churned…
Rabinder Deshmukh, of Miami, Florida, a stockbroker with Ameriprise Financial Services, Inc., has been named in a customer initiated investment related arbitration claim from March 18, 2016, in which customers requested $9,000,000.00 in damages based upon allegations that Deshmukh made unsuitable investment recommendations to the customer, which included overconcentrating the customers’ assets in risky investments….
Robert Steven Beck, of Jenkintown, Pennsylvania, 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 firm in any capacity after consenting to findings that he effected discretionary trades in a customer’s account. Letter of Acceptance, Waiver and Consent, No. 2014042560001 (Dec….
Richard Edwin Seidel, of Wyomissing, Pennsylvania, a stockbroker formerly registered with Pruco Securities, LLC, has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that he engaged in an unauthorized borrowing arrangement with a firm customer. Letter of Acceptance, Waiver and Consent, No. 2016050057401…
Kai Chen, of San Francisco, California, a stockbroker formerly registered with Credit Suisse Securities (USA) LLC, has been fined $10,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) in any capacity after consenting to findings that he exercised discretion in customer accounts without authorization. Letter of Acceptance, Waiver and Consent, No. 2013039280301 (Dec….
Athanasios Tomaras, of Oldsmar, Florida, a stockbroker formerly registered with Fulcrum Securities, LLC, has been subject to a customer initiated investment related arbitration claim from October 17, 2016, in which the customer requested $189,000.00 in damages based upon allegations that from July of 2013 to January of 2016, Tomaras made unsuitable investment recommendations to the…
Daniel A. Cabrera, of Helotes, Texas, a stockbroker currently registered with BBVA Securities Inc., was subject to a customer initiated investment related arbitration claim which settled for $44,676.57 in damages. The customers’ claim was based upon allegations that Cabrera made misrepresentations, or misled the customers concerning investments in four variable annuity contracts that the customers…
Jesse Julian Griffin Jr., of Palm City, Florida, a stockbroker formerly associated with VSR Financial Services, Inc., has been subject to a customer initiated investment related arbitration action from June 19, 2015, which settled for $52,000.00 in damages based upon allegations that Griffin effected unsuitable transactions in the customers’ accounts. FINRA Public Disclosure reveals that…
Kevin Mark Nevin, of Saint Louis Park, Minnesota, a stockbroker formerly associated with VSR Financial Services, has been subject to a customer initiated investment related arbitration claim on September 30, 2016, in which the customer requested $50,000.00 in damages based upon allegations that Nevin breached his fiduciary and contractual relationship with the customer, effected unsuitable…
Richard Lyndon Brown, of Massapequa, New York, a stockbroker formerly associated with Brookstone Securities, Inc., has been subject to a customer initiated investment related arbitration claim from September 22, 2015, in which a customer was awarded $72,135.95 in damages based upon allegations that Brown breached his contractual and fiduciary duties to the customer, abused the…
Timothy Charles Hobbs, of Bedford, Texas, a stockbroker formerly registered with VSR Financial Services, Inc., has been subject to a customer initiated investment related arbitration action from February 3, 2014, in which the customer requested $82,500.00 in damages based upon allegations that Hobbs breached his fiduciary duty to the customer, and effected investment transactions in…
Henry John Kulig III, of Clearwater, Florida, a stockbroker currently registered with FSC Securities Corporation, is the subject to a customer initiated investment related arbitration action in which the customer was awarded $65,333.33 in damages. The customer’s claim was based upon allegations that Kulig made unsuitable investment recommendations to the customer concerning American Realty Capital…
Eduardo Guillermo Diaz, of Biloxi, Mississippi, a former stockbroker formerly registered with Next Financial Group, Inc., has been subject to a customer initiated investment related arbitration action in which the customer received $250,000.00 in damages based upon allegations that Diaz made misrepresentations to the customer concerning investments, failed to provide the customer with information concerning…
Thomas Paul Schober, of Westborough, Massachusetts, a former stockbroker who had been registered with SII Investments, Inc., has been subject to a customer initiated investment related arbitration claim on September 21, 2016, in which the customer requested $5,000.00 in damages based upon allegations that Schober effected unsuitable investment transactions in the customer’s account. FINRA Public…
Brian Harris Brunhaver, of Snohomish, Washington, a stockbroker previously registered with LPL Financial LLC, and Pacific West Securities, Inc., has been subject to a customer initiated investment related arbitration claim from February 24, 2014, in which customers requested $637,100.00 in damages based upon allegations that Brunhaver effected unsuitable investments in real estate investments trusts within…
George William Cole, of Toms River, New Jersey, a stockbroker currently registered with Next Financial Group, has been named in a customer initiated, investment related arbitration claim in which the customer requested $1,000,000.00 in damages based upon allegations that Cole provided customers with unsuitable investment recommendations which caused the customers to suffer substantial losses. The…
Robert Boris Hardcastle, of Chesterfield, Missouri, a stockbroker formerly registered with VSR Financial Services, has been nemed in a customer initiated investment related arbitration claim in which the customer requested $366,000.00 in damages based upon allegations that Hardcastle breached his fiduciary duty to the customers, made misrepresentations to the customers concerning investments, and effected unsuitable…
Ibrahim Ethem Kurtulus, of New York, New York, a stockbroker currently registered with Windsor Street Capital, LP, has been subject to a customer initiated investment related arbitration claim on January 13, 2015, in which the customer requested $45,000.00 in damages based upon allegations that Kurtulus effected unsuitable investment transactions in the customer’s account. FINRA Public…
Peter M. Alomar, of Garden City, New York, a stockbroker formerly registered with Woodstock Financial Group, Inc., has been subject to a customer initiated investment related arbitration claim from January 28, 2016, in which the customer requested $293,924.00 in damages based upon allegations that Alomar effected unsuitable investment transactions in the customer’s account, and breached…
Maroof Miyana, of Pompano Beach, Florida, a stockbroker formerly registered with Legend Securities, Inc., has been subject to a customer initiated investment related arbitration claim from November 24, 2014, which settled for $72,000.00 in damages based upon allegations that Miyana effected unsuitable transactions in the customer’s investment account. FINRA Public Disclosure also reveals that on…
Robert Emmitt Gill, of Tinton Falls, New Jersey, a stockbroker formerly registered with J.P. Turner & Company, L.L.C., has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he engaged in an unauthorized borrowing arrangement with a firm customer. Letter of…
Ralph Worthington, of New York, New York, chairman and chief executive officer of Gilford Securities, has been named in a customer initiated investment related arbitration claim on December 2, 2014, in which the customer requested $875,000.00 in damages based upon allegations that Gilford was liable, as a control person for the firm, for a subordinate…
Brandt Bob Wendland, of Minneapolis, Minnesota, a stockbroker currently registered with Feltl & Company, has been subject to a customer initiated investment related arbitration claim on May 30, 2014, in which the customer requested $55,000.00 in damages. The customer’s claim was based upon allegations that Wendland effected unsuitable trades in penny stocks and leveraged exchanged…
Gregory Martin Ellis, of Baton Rouge, Louisiana, a stockbroker formerly registered with VSR Financial Services, has been subject to a customer initiated investment related arbitration action on July 22, 2015, in which the customer requested $445,000.00 in damages based upon allegations that Ellis negligently handled the customer’s account, breached his fiduciary duties to the customer,…
Douglas Jay Williams, of The Woodlands, Texas, a stockbroker currently registered with VFinance Investments, was subject to a customer initiated investment related arbitration claim filed on May 23, 2014, alleging that Williams effected unsuitable investments in the customer’s account, and made poor investment recommendations which caused the customer to bear losses. According to Williams, the…
William Louis Baumner, of Boca Raton, Florida, a stockbroker currently registered with Buckman, Buckman & Reid, Inc., has been subject to a customer initiated investment related arbitration action on December 16, 2015, in which the customer requested $100,000.00 in damages based upon allegations that Baumner made misrepresentations to the customer concerning investments. FINRA Public Disclosure…
Frank David Marinelli, of Brooklyn, New York, a stockbroker formerly registered with J.P. Turner & Company, L.L.C., has been subject to a customer initiated investment related arbitration action, which settled for $15,000.00 in damages based upon allegations that Marinelli negligently handled the customer’s account, breached his fiduciary duty to the customer, effected trades in the…
Francesco Anthony Scarso, of New York, New York, a stockbroker formerly registered with PHX Financial Services, Inc., has been subject to a customer initiated investment related arbitration claim from November 23, 2015, which settled for $12,500.00 in damages based upon allegations that Scarso had effected an options transaction in the customer’s investment account which had…
Wesley Clint Smith, of Lumberton, Texas, a stockbroker previously registered with Edward Jones, has been subject to a customer initiated investment related arbitration claim from November 17, 2015, in which the customer requested $9,000.00 in damages based upon allegations that Smith’s unauthorized distribution of the customers’ funds caused the customer to bear tax liabilities. On…
Jack Graham Merritt, of Huntington Beach, California, a stockbroker currently registered with Crown Capital Securities, L.P., has been subject to a customer initiated investment related arbitration claim on November 2, 2015, which settled for $19,000.00 in damages. The arbitration claim was based upon allegations that Merritt breached his fiduciary and contractual duties to the customer,…
Christopher B. Ariola, of Aliso Viejo, California, a stockbroker with Bay Mutual Financial, LLC, was barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity per an Office of Hearing Officers’ Default Decision containing findings that Ariola made unsuitable recommendations to investors. Department of Enforcement v. Christopher B. Ariola, No. 2012034139101 (Dec….
Michael S. Lavolpe, of New York, New York, a stockbroker formerly registered with Meyers Associates, L.P., has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity per an Office of Hearing Officers’ Default Decision containing findings that Lavolpe failed to provide FINRA with a response to its requests…
John N. Crook, of Macon, Georgia, a stockbroker formerly registered with Raymond James & Associates, Inc., has been named in a customer initiated investment related arbitration claim on August 18, 2016, in which the customer requested $4,800,000.00 in damages based upon allegations including breach of contract, negligence, intentional omissions and misrepresentation, fraud, breach of fiduciary…
Ari M. Baum, of New York, New York, a stockbroker formerly registered with Morgan Stanley Smith Barney, has been subject to a customer initiated investment related arbitration claim on April 5, 2016, in which the customer requested $1,285,000.00 in damages based upon allegations that unsuitable corporate debt investments were effected by Baum in the customer’s…
Ronald A. Frumkes, of New York, New York, a stockbroker currently registered with Wunderlich Securities, Inc., has been subject to a customer initiated investment related arbitration claim on October 30, 2014, in which the customer has requested $600,000.00 in damages based upon allegations that from May 29, 2014 and October 15, 2014, Frumkes provided unsound…
Wayne I. Miller, of Scottsdale, Arizona, the president and chief executive officer of Accelerated Capital Group, have been named in a customer initiated investment related arbitration claim on September 15, 2016, in which the customer requested $400,000.00 in damages based upon allegations that Miller failed to supervise sales of promissory notes issued via Aequitas Capital…
William R. Pintaric Jr., of Youngstown, Ohio, a stockbroker formerly registered with WFP Investments, Inc., has been subject to a customer initiated investment related arbitration claim on April 1, 2016, in which the customer requested $345,000.00 in damages based upon allegations that Pintaric led customers to make significant sums of money in investments which were…
Leslie R. “Butch” Cabrinha, a stockbroker currently registered with Centaurus Financial, Inc., has been subject to a customer initiated investment related arbitration claim on May 16, 2014, which was settled for $75,000.00 in damages. The customer’s claim, which pertained to Cabrinha’s conduct, was based upon allegations that the branch manager failed to supervise one of…
George Stefanou, of Orlando, Florida, a stockbroker currently registered with Edward Jones, has been subject to a customer initiated investment related arbitration claim on February 24, 2015, which settled for $50,000.00 in damages. The customer’s claim was based upon allegations that Stefanou made an unsuitable investment recommendation concerning the transfer of the customer’s 457(b) and…
Keith A. Bradley, of Houston, Texas, a stockbroker formerly registered with VSR Financial Services, Inc., has been subject to a customer initiated investment related arbitration claim on July 12, 2016, in which the customer requested $100,000.00 in damages based upon allegations that Bradley negligently handled the customer’s investment account, and effected unsuitable investment transactions. Bradley’s…
Luis Marquez, of Melville, New York, a stockbroker currently registered with Laidlaw & Company Ltd., has been subject to a customer initiated investment related arbitration claim from October 10, 2015, in which the customer requested $340,000.00 in damages based upon allegations that Marquez effected unsuitable investment transactions in the customer’s account. Since 1998, Powers has…
Glen J. Rauch, of Syosset, New York, a stockbroker formerly registered with Avenir Financial Group, Inc., was barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity per an Office of Hearing Officers’ Order Accepting Offer of Settlement containing findings that Rauch effected unsuitable and unauthorized transactions in customer accounts, and…
James V. Regier, of Topeka, Kansas, a stockbroker formerly associated with VSR Financial Services, Inc., has been subject to a customer initiated investment related arbitration claim on July 14, 2016, in which the customer requested $76,642.00 in damages based upon allegations that Regier effected unsuitable investment transactions in the customer’s account pertaining to United Development…
Levi D. Lindemann, of Oakdale, Minnesota, a stockbroker formerly registered with J.P. Turner & Company, L.L.C., has been subject to a customer initiated investment related arbitration claim on March 28, 2016, in which the customer requested $340,000.00 in damages based upon allegations that Lindemann negligently handled the customer’s investment account, breached his fiduciary duty to…
Sven Bernhard Karlen, of Lebanon, New Hampshire, a stockbroker formerly registered with Wells Fargo Advisors, has been fined $15,000.00 and suspended for six months from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that he effected trades in customer accounts without authorization, mismarked order tickets, caused…
Bryan G. Mazliach, of Melville, New York, a stockbroker registered with Laidlaw & Company Ltd., has been subject to a customer initiated investment related arbitration claim from February 8, 2016, in which the customer requested $200,000.00 in damages based upon allegations that Mazliach charged the customer with excessive commissions, and traded excessively in the customer’s…
Casey J. Alexander, of New York, New York, a stockbroker formerly registered with Gilford Securities Incorporated, has been subject to a customer initiated investment related arbitration claim on December 2, 2014, which was settled for $50,000.00 in damages based upon allegations that Alexander, as a control person for Gilford Securities, was liable for the wrongful…
Mark S. Garfinkel, of Boca Raton, Florida, a stockbroker with Oppenheimer & Co. Inc., has been subject to a customer initiated investment related arbitration claim on February 18, 2015, based upon allegations that Garfinkel made misrepresentations to the customer concerning investments, and effected unsuitable investments in the customer’s account. FINRA Public Disclosure reveals that Garfinkel…
Robert C. Bragg, of Colorado Springs, Colorado, a stockbroker formerly registered with VSR Financial Services, Inc., has been subject to a customer initiated investment related arbitration claim on February 24, 2015, which was settled for $60,000.00 in damages based upon allegations that Bragg made misrepresentations to the customer concerning investments, and made unsuitable investment recommendations….
Gary D. Moore, of Sarasota, Florida, a stockbroker currently registered with National Planning Corporation, has been subject to a customer initiated investment related arbitration claim on May 18, 2016, in which the customer alleged that Moore effected unsuitable real estate investment trust transactions in the customer’s account. FINRA Public Disclosure reveals that Moore has been…
Nicholas M. Giaallourakis, of Boca Raton, Florida, a stockbroker formerly associated with VSR Financial Services, Inc., has been subject to a customer initiated investment related arbitration claim from October 20, 2015, which settled for $14,000.00 in damages based upon allegations that Giaalourakis violated Florida Securities Act, breached his contractual and fiduciary duties to the customer,…
John S. Cangialosi, of New York, New York, a stockbroker formerly registered with Legend Securities, Inc., has been subject to a customer initiated investment related arbitration claim from November 20, 2015, which was settled for $9,999.00 in damages based upon allegations that Cangialosi made misrepresentations to the customer concerning investments, effected unsuitable investments in the…
Frederick Bremer, of Casselberry, Florida, a former stockbroker with G.A. Repple & Company, has been subject to a customer initiated investment related arbitration claim on August 17, 2015, in which the customer requested $60,000.00 in damages based upon allegations that Bremer effected unsuitable investment transactions regarding Church Capital Funding and other church bonds which California…
Aldo N. Marchena, of Boca Raton, Florida, a stockbroker formerly registered with Northeast Securities, Inc., has been subject to a customer initiated investment related arbitration claim on July 27, 2016, in which the customer requested $75,000.00 in damages based upon allegations that Marchena breached his fiduciary duties to the customer by making unsuitable recommendations of…
Emily Michelle Thompson, of Wauseon, Ohio, a stockbroker formerly associated with Raymond James Financial Services, Inc., has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that she failed to cooperate with FINRA in an investigation into allegations of unauthorized trading. Letter of Acceptance,…
Gerald J. Cocuzzo, of Boca Raton, Florida, a stockbroker formerly registered with Newbridge Securities Corporation, has been named in a customer initiated investment related arbitration claim on July 5, 2016, based upon allegations that Cocuzzo breached his fiduciary and contractual duties to the customers, overconcentrated the customers’ assets, and committed fraud. Additionally, the customers alleged…
John Billy Kakonikos, of Lake Success, New York, a stockbroker formerly associated with Caldwell International Securities, was fined $10,000.00 and suspended for eighteen months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he effected unauthorized, as well as unsuitable and excessive trades in a customer…
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…
Terry J. Bagwell, of Birmingham, Alabama, a stockbroker formerly associated with Pruco Securities, LLC, was named in a pending customer initiated investment related arbitration claim on February 22, 2016, in which the customer alleged that Bagwell made misrepresentations to a customer concerning a life insurance policy. FINRA Public Disclosure reveals that Bagwell has been subject…
Bruce Meyers, of New York, New York, a stockbroker and former president of Meyers Associates, L.P., was named in a customer initiated investment related arbitration claim on April 7, 2016, in which the customer requested $545,000.00 in damages based upon allegations that Meyers effected unsuitable trades in the customer’s account. FINRA Public Disclosure reveals that…
John Tinnelly, of Hawthorne, New York, a stockbroker currently registered with Woodstock Financial Group, Inc., has been named in a customer initiated investment related arbitration action on April 15, 2015, in which the customer requested $60,500.00 in damages based upon allegations that Tinnelly made misrepresentations to the customer concerning investments, breached his contractual obligations, negligently…
Enver R. Alijaj, of New York, New York, a stockbroker formerly associated with Legend Securities Inc., has been subject to a customer initiated investment related arbitration action on January 13, 2016, in which the customer requested $73,454.00 in damages based upon allegations that Alijaj effected unsuitable transactions in the customer’s account pertaining to over-the-counter equities,…
Daniel I. McCourt, of Aptos, California, a stockbroker formerly associated with Foothill Securities, Inc, has been named in a customer initiated investment related arbitration claim in which customers have collectively requested $220,634.00 in damages based upon allegations that McCourt breached his fiduciary duty, negligently managed customers’ accounts, and converted customers’ funds. FINRA Public Disclosure reveals…
Claus C. Foerster, of Greenville, South Carolina, a stockbroker formerly registered with Raymond James & Associates, Inc., has been subject to a customer initiated investment related arbitration claim on March 26, 2015, in which the customer requested $509,100.00 in damages based upon allegations that Foerster committed forgery and misappropriated the customer’s monies. FINRA Public Disclosure…
Edgar A. Thomas, of Lakeland, Florida, a stockbroker formerly registered with Investors Capital Corp., has been named in a customer initiated investment related arbitration claim on April 28, 2016, in which the customer requested $110,000.00 in damages based upon allegations that Thomas effected unsuitable transactions in the customer’s account pertaining to United Development Funding III,…
Shahbul Molla, of Garden City, New York, a stockbroker currently registered with Spartan Capital Securities, LLC, has been named in a customer initiated investment related arbitration claim on March 7, 2016, in which the customer requested $115,414.22 in damages based upon allegations that Molla churned the customer’s investment account, overconcentrated the customer’s assets, made misrepresentations…
Gabriel Block, of Red Bank, New Jersey, a stockbroker formerly registered with Oppenheimer & Co. Inc., has been named in a customer initiated investment related arbitration claim on July 6, 2015, which settled for $90,000.00 in damages based upon allegations that Block breached his fiduciary and contractual duties to the customer, negligently handled the customer’s…
Levert Caldwell, of Red Bank, New Jersey, a stockbroker formerly registered with National Securities Corporation, has been named in a customer initiated investment related arbitration claim on September 30, 2016, in which the customer requested $400,000.00 in damages based upon allegations that Caldwell breached his fiduciary duty to the customer, churned the customer’s account, and…
Joseph R. Connolly, of Staten Island, New York, a stockbroker formerly registered with Alexander Capital, L.P., has been subject to a customer initiated investment related arbitration claim on February 8, 2016, in which the customer requested $660,000.00 in damages based upon allegations that Connolly effected excessive and unsuitable trades in the customer’s account, and generated…
Rocco G. Guidicipietro, of New York, New York, a stockbroker formerly registered with J.P. Turner & Company, L.L.C., has been subject to three customer initiated arbitration claims involving his misconduct. Particularly, on October 21, 2014, a customer initiated investment related arbitration claim involving Guidicipietro’s conduct was resolved for $60,000.00 in damages based upon allegations that…
Christopher Kazan, of South Norwalk, Connecticut, a former stockbroker with Maxim Group LLC, was subject to a customer initiated investment related arbitration claim on August 24, 2015, which was settled for $85,000.00 in damages based upon allegations that Kazan effected unsuitable investment transactions in the customer’s investment account between October of 2012 through August of…
James Blinkhorn, of Lake Oswego, Oregon, a stockbroker formerly associated with Wedbush Securities Inc., was subject to a customer initiated investment related arbitration claim on September 11, 2015, which was settled for $83,000.00 in damages based upon allegations that Blinkhorn effected unsuitable transactions in the customer’s investment account, and failed to communicate with the customer…
Wayne M. Raymond, of New York, New York, a former stockbroker with Andrew Garrett Inc., has been subject to a customer initiated investment related arbitration claim on February 12, 2015, which was settled for $8,600.00 in damages based upon the customer’s allegations that Raymond effected excessive and unauthorized trades in the customer’s investment account. FINRA…
Thomas G. Gresham, of Overland Park, Kansas, a stockbroker formerly associated with Wells Fargo Advisors, LLC, has been subject to five customer initiated arbitration claims on July 10, 2015, which were settled for a total of $655,000.00 in damages based upon allegations against Gresham including unsuitable investment recommendations, breach of fiduciary duties, unjust enrichment, and…
Thomas A. Guerriero, of New York, New York, a stockbroker formerly registered with Meyers Associates, L.P., has been named in a customer initiated investment related arbitration claim on February 24, 2016, in which the customer has requested $500,000.00 in damages based upon allegations that Guerriero breached his fiduciary duty to the customer, made misleading and…
Barry Link, of Fort Meyers, Florida, a stockbroker currently registered with World Equity Group, Inc., has been subject to a customer initiated investment related arbitration claim on February 10, 2016, in which the customer requested $400,000.00 in damages based upon allegations that Link breached his fiduciary duty to the customer and committed negligence in handling…
Charles E. White II, of Providence, Rhode Island, a stockbroker currently associated with Barrett & Company, has been subject to a customer initiated investment related arbitration claim on November 27, 2015, which was settled for $105,000.00 in damages based upon the customer’s allegations that the firm made misrepresentations to the customer concerning White’s qualifications, position…
Randy Merrill, of Waco Texas, a stockbroker currently registered with First Financial Equity Corporation, has been subject to a customer initiated investment related arbitration claim on October 19, 2015, which was settled for $22,500.00 in damages based upon allegations that Merrill effected unsuitable transactions in the customer’s investment account. The customer additionally alleged that First…
Jason Freiwald, of Scottsdale, Arizona, a stockbroker currently registered with Waddell & Reed, has been named in a customer initiated investment related arbitration claim on January 25, 2016, in which the customer requested $541,150.00 in damages based upon allegations that Freiwald effected unsuitable investment transactions in the customer’s account. According to the customer, Freiwald recommended…
Joseph I. Yanofsky, of Greenwood Village, Colorado, a stockbroker formerly registered with Merrill Lynch, Pierce, Fenner & Smith, has been subject to a customer initiated investment related arbitration claim on August 27, 2015, in which the customer alleged that Yanofsky effected unauthorized transactions in the customer’s investment account. FINRA Public Disclosure reveals that Yanofsky has…
The Cetera Firms, which include Cetera Advisor Networks LLC, (headquartered in El Segundo, California), Cetera Financial Specialists LLC (headquartered in Schaumburg, Illinois), First Allied Securities, Inc. (headquartered in San Diego, California), Summit Brokerage Services, Inc. (headquartered in Boca Raton, Florida), and VSR Financial Services, Inc. (headquartered in Overland Park, Kansas), were censured and fined by…
Newport Coast Securities, a broker-dealer headquartered in New York, New York, has been fined $1,000,000.00 and expelled from Financial Industry Regulatory Authority (FINRA) membership per an Extended Hearing Panel Decision in which Newport Coast Securities was found to have effected trades in customer accounts on a quantitatively unsuitable basis, churned customer accounts, made qualitatively unsuitable…
FTB Advisors, Inc., a broker-dealer headquartered in Memphis, Tennessee, was censured and fined $250,000.00 by Financial Industry Regulatory Authority (FINRA) after consenting to findings that the firm failed to supervise its variable annuity sales. Letter of Acceptance, Waiver and Consent, No. 2015043292101 (Nov. 2, 2016). According to the AWC, the firm failed to supervise recommendations…
Daniel L. Silverstein, of Boca Raton, Florida, a stockbroker currently registered with Primex, or Prime Electronic Execution, Inc. has been named in a customer initiated investment related arbitration claim on August 19, 2016, in which the customer has requested $431,000.00 in damages based upon allegations that Silverstein breached his fiduciary to the customer, traded in the…
Douglas C. Osborn, of Troy, Michigan, a stockbroker currently registered with L.M. Kohn & Company, has been named in a customer initiated investment related arbitration claim on June 26, 2015, in which the customer has requested $500,000.00 in damages based upon allegations against Osborn of failing to adequately manage the customer’s accounts, and causing the…
Matthew T. Flynn, of Highland, Michigan, a stockbroker formerly with Fifth Third Securities, is subject to a customer initiated investment related arbitration claim from February 3, 2014, in which the customer requested $275,000.00 in damages based upon allegations against Flynn of making unsuitable recommendations in non-public real estate investment trusts. FINRA Public Disclosure reveals that…
A customer initiated investment related arbitration claim involving the conduct of Andrew D. Tomlinson III, of Prescott, Arizona, a stockbroker currently registered with Geneos Wealth Management, Inc., was settled for $30,000.00 in damages based upon allegations from multiple customers that Tomlinson effected unsuitable investment sales of limited partnerships in the customers’ accounts. FINRA Public Disclosure reveals…
Roger Deal, of Columbus, Nebraska, a stockbroker formerly associated with Royal Alliance Associates, Inc., has been subject to a customer initiated investment related arbitration claim, in which multiple customers have collectively requested $3,200,000.00 in damages based upon allegations that Deal effected unsuitable investment recommendations, made misrepresentations, as well as failed to conduct due diligence in…
Rembert D. McNeer III, of Parsippany, New Jersey, a stockbroker formerly registered with Summit Equities, Inc., was fined $10,000.00 and suspended for one-year from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he failed to properly supervise the activity of a Summit Equities registered representative. Letter…
Matthew Digregorio, of Melville, New York, a stockbroker formerly registered with Aegis Capital Corp., was subject to a customer initiated investment related arbitration claim on April 28, 2016, in which the customer was awarded $50,000.00 in damages based upon allegations against Digregorio of churning the customer’s account, effecting unsuitable transactions, and breaching his fiduciary duty. FINRA…
Neil D. Pecker, of Longwood, Florida, a stockbroker formerly registered with Coastal Equities, Inc., was suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after FINRA found that Pecker did not cooperate with FINRA’s request to provide information or documentation. Docket No. 2016050013101 (Sept. 26, 2016). FINRA Public Disclosure reveals…
Debra Lambert, of The Villages, Florida, a stockbroker currently registered with Raymond James & Associates, Inc., has been named in a customer initiated investment related arbitration claim on February 13, 2015, in which the customer requested $326,515.64 in damages based upon allegations that Lambert effected excessive and unauthorized trades in the customer’s account, and made…
Wilbanks Securities executives Randall Wilbanks and Aaron Wilbanks, of Oklahoma City, Oklahoma, have been named in a pending customer initiated investment related arbitration claim on November 24, 2014, in which the customers have collectively requested $1,465,000.00 in damages based upon allegations that Randall Wilbanks and Aaron Wilbanks, as control persons, were responsible for improper sales…
John J. Santariello, of Coram, New York, a stockbroker currently registered with Arive Capital Markets, has been named in a pending customer dispute on November 10, 2014, in which the customer requested $100,000.00 in damages based upon allegations that Santariello excessively traded speculative and high-risk investments within the customer’s account, and effected unsuitable transactions which…
Henry C. Prange IV, of Green Bay, Wisconsin, a stockbroker currently registered with KCD Financial, Inc., has been named in a pending customer initiated investment related arbitration claim on May 24, 2016, in which the customer requested $35,000.00 in damages based upon allegations that Prange made investment recommendations that were unsuitable for the customer. Also, Randall…
Barry M. Kiront, of Garden City, New York, a stockbroker formerly associated with Woodstock Financial Group, Inc., has been named in a customer initiated investment related arbitration action on March 20, 2015, based upon allegations against Kiront including unauthorized trading, unsuitability, churning, breach of contract, breach of fiduciary duty, misrepresentation, negligence, and unjust enrichment. The…
Rick A. Davidson, of New York, New York, a stockbroker formerly associated with Morgan Stanley, has been named in a customer initiated investment related arbitration claim on July 22, 2016, in which the customer requested $1,000,000.00 in damages based upon allegations that Davidson effected unsuitable investments in the customer’s investment account from January of 2013…
Parks Heard Brown Jr., of Marietta, Georgia, a stockbroker formerly associated with VSR Financial Services, Inc., has been named in a customer initiated investment related arbitration claim on October 14, 2016, based on allegations that Brown effected unsuitable investment transactions in the customer’s account. FINRA Public Disclosure reveals that Brown has been subject to three…
Glenn McDowell, of New York, New York, a stockbroker formerly associated with National Securities Corporation, Inc., was charged by Financial Industry Regulatory Authority (FINRA) in a Complaint alleging that McDowell effected unauthorized trades in a customer’s account. Department of Enforcement v. Glenn McDowell, No. 2013035902701 (Oct. 28, 2016). According to the Complaint, from May 24,…
Stuart G. Dickinson, of Highland Park, Texas, a stockbroker formerly registered with WFG Investments, Inc., has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity per a FINRA Office of Hearing Officers’ Default Decision containing findings that Dickinson made unsuitable investment recommendations to customers. Department of Enforcement…
Donald Bartelt, of West Palm Beach, Florida, a stockbroker formerly registered with Newport Coast Securities has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity per a FINRA Office of Hearing Officers’ Default Decision containing findings that Bartelt effected unsuitable trades and churned customer accounts. Department of Enforcement…
David M. Levy, of West Palm Beach, Florida, a stockbroker formerly registered with Newport Coast Securities, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity per a FINRA Office of Hearing Officers’ Default Decision containing findings that Levy effected unsuitable trades and churned customer accounts, made recommendations…
Peter B. Cohen, of Simsbury, Connecticut, a stockbroker with Ameritas Investment Corp., has been named in a customer initiated investment related arbitration claim on March 17, 2016, based upon allegations against Cohen of misrepresentation of facts concerning investments, fraudulent inducement, breach of fiduciary duty, and unjust enrichment. Guiliano Law Group Our practice is limited to…
Tom Puentes, of Langley, Washington, a stockbroker formerly registered with Morgan Stanley, was fined $15,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that he effected discretionary trades in customer accounts without authorization. Letter of Acceptance, Waiver and Consent, No. 2014042676301 (Oct. 13, 2016)….
David Perez, of New York, New York, a stockbroker registered with Aegis Capital Corp., has been named in a pending customer initiated investment related arbitration action, in which the customer requested $79,548.00 in damages based upon allegations that Perez effected excessive trades in the customer’s account, failed to follow the customer’s instructions, and was ultimately…
Delbert W. Carnes, of Colorado Springs, Colorado, a stockbroker registered with Woodbury Financial Services, Inc., has been named in a customer initiated investment related arbitration claim on April 20, 2015, in which the customer alleged that Carnes made misrepresentations to the customer regarding the purchase of a variable annuity investment. FINRA Public Disclosure reveals that…
Dennis H. Cambal, of Yarmouth, Massachusetts, a stockbroker registered with NBC Securities, Inc., has been named in ten customer initiated investment related arbitration claims, according to FINRA Public Disclosure. Particularly, on March 24, 2015, Cambal settled a customer initiated investment related arbitration claim for $24,999.00 in damages based upon allegations that Cambal effected unsuitable investment…
William K. Bradley, of New York, New York, a stockbroker formerly with Newbridge Securities Corporation, now associated with Meyers Associates, has been named in a pending customer initiated investment arbitration claim, in which the customer has requested $30,236.00 in damages based upon allegations that Bradley effected unsuitable investments in the customer’s account. FINRA Public Disclosure…
Bishoy G. Mankarios, of Syosset, New York, a stockbroker formerly associated with Rothschild Lieberman LLC, has been named in a customer initiated investment related arbitration claim, in which the customer has requested $130,000.00 in damages based upon allegations that Mankarios breached his fiduciary duty and contractual obligations with the customer, effected unsuitable investment transactions, churned…
Jan E. Haynes, of La Jolla, California, a stockbroker formerly registered with Centaurus Financial, Inc., has been named in twelve customer initiated investment arbitration actions, according to FINRA Public Disclosure. Particularly, on July 17, 2014, Haynes settled a customer initiated investment arbitration action for $22,500.00 in damages based upon allegations that Haynes misrepresented facts to…
Matthew A. Bell, of San Antonio Texas, a stockbroker formerly registered with Securities America, Inc., has been named in a customer initiated investment related arbitration claim on December 8, 2015, in which the customer requested $5,000.00 in damages based upon allegation that Bell breached his fiduciary duty to the customer and made investment recommendations which…
Jason H. Klabal, of New York, New York, a stockbroker formerly registered with Legend Securities, Inc., disclosed several customer initiated investment related arbitration claims. Specifically, on November 17, 2015, Klabal settled a customer initiated investment related arbitration claim for $50,000.00 in damages based upon allegations that Klabal was responsible for the customer’s losses on an…
Michael B. Stern, of Boca Raton, Florida, a stockbroker formerly registered with Herbert J. Sims & Co. Inc., has been named in a customer initiated investment related arbitration claim on May 18, 2016, in which the customer requested $50,000.00 in damages based upon allegations that Stern made unsuitable investment recommendations, breached his fiduciary duty, and…
Bruce A. Slater, of Northville, Michigan, a stockbroker with Sagepoint Financial, Inc. was named in a customer initiated investment related arbitration claim on February 8, 2016, in which the customers requested $500,000.00 in damages based upon allegations that Slater misrepresented the nature, fees, and risks associated with investment products that were recommended to the customers….
Leavitt F. Sanders, of West Point, Georgia, a stockbroker formerly registered with Triad Advisors, Inc., was named in a customer initiated investment related arbitration claim on August 15, 2016, in which the customers requested $3,835,000.00 in damages based upon allegations that Sanders effected an investment strategy for customers which was not suitable. From December 15,…
Mickey Long, of Plano, Texas, a stockbroker with VSR Financial Services, Inc., was suspended by Texas State Securities Board after being found to have made unsuitable investment recommendations of real estate investments and other alternative investments. Order No. REG16-SUS-03 (Oct. 4, 2016). According to the Order, Long was responsible for advising a seventy-year-old customer who…
Charles C. Kulch, of Nashua, New Hampshire, a stockbroker with Next Financial Group, recently disclosed that he settled a customer dispute for $120,000.00 on June 22, 2016, based upon allegations that Kulch mismanaged the customer’s securities account. FINRA BrokerCheck reveals that Kulch has been subject to seven other customer disputes. Particularly, on April 21, 2015,…
IMS Securities, Inc., of Houston, Texas, was censured and fined $100,000.00 by Financial Industry Regulatory Authority (FINRA) after consenting to findings that the firm failed to supervise aspects of its variable annuity business. Letter of Acceptance, Waiver and Consent, No. 2014039417401 (Sept. 30, 2016). According to the AWC, between July 15, 2013 and May 8, 2014,…
Thomas Fross, of The Villages, Florida, disclosed that a customer received a judgment or award against him for $24,000.00 in damages based upon the allegations that Fross breached his fiduciary duty and contractual obligations to the customer, made omissions and misrepresentations to the customer with regard to investments, and made unsuitable investment recommendations. FINRA BrokerCheck…
Neal Scott, of New York, New York, a stockbroker formerly associated with with Euro Pacific Capital, Inc., and presently registered with Meyers Asociates, is subject to a pending customer dispute from September 9, 2015, in which the customer requested $150,000.00 in damages based upon allegations that Scott breached his fiduciary duty to his customer, and…
David W. Williams, of Dallas Texas, a stockbroker with WFG Investments, Inc., is subject to a pending customer dispute from March 14, 2016, in which the customer requested $2,780,000.00 in damages in connection with allegations against Williams of failing to conduct an adequate investigation into an investment, making misrepresentations to the customer, breaching his fiduciary…
Jay Dee Jordan of Oklahoma City, Oklahoma, a stockbroker with WFG Investments, Inc., is the subject of a pending customer initiated investment related arbitration claim filed on July 13, 2016, in which the customer requested $42,000.00 in damages based upon allegations that Jordan of effected unsuitable and unauthorized investment transactions in the customer’s securities account. FINRA Public…
David A. Allen, of Bethel, Vermont, one of the former owners of defunct Avenir Financial Group, on January 28, 2016, was terminated from Avenir Financial Group amid allegations that he had committed funds despite not having authorization, failed to supervise, and took possession of the firm’s funds without authority. At time tme of his termination,…
Harris W. Kirk, of Richardson, Texas, a stockbroker Reef Securities, Inc., is subject to a pending customer dispute from February 11, 2016, in which a customer has requested $250,000.00 in damages after alleging that Kirk failed to conduct due diligence concerning investments, failed to disclose investment risks to the customer, committed breach of contract, and…
David L. Hannett Sr., of Vienna, Virginia, a stockbroker with Invest Financial Corporation, is subject to a pending customer dispute from March 10, 2015, in which the customer has requested $5,000,000.00 after alleging that Hannett mishandled the customer’s investment account assets. Public Disclosure records also reveal that on March 9, 2012, Hannett settled a customer…
Craig Sutherland, of Columbus, Ohio, a stockbroker with Money Concepts Capital Corp, is subject to a pending customer dispute from January 29, 2016. Particularly, the customer requested $300,000.00 in damages in connection with allegations against Sutherland of negligence, making misrepresentations to the customer, breach of fiduciary duty, breach of contract, and effecting transactions that were…
Thomas J. Dailey, of Youngstown, Ohio, a stockbroker with Sterne Agee Financial Services, Inc., is subject to a pending customer dispute from December 7, 2015, in which a customer requested $500,000.00 in damages in connection with allegations against Dailey of making misrepresentations to customers regarding Florida Capital Real Estate Partnerships. The customers alleged to have…
Dean T. Nicholson, of Summerfield, Florida, recently settled a customer dispute on June 27, 2016, in which the customer received $18,000.00 in damages after alleging that Nicholson engaged in the sale of unsuitable investments. On March 1, 2016, Nicholson was named in a customer dispute in which the customers requested $35,000.00 in damages after alleging…
David J. Sullivan of Boston, Massachusetts, a registered representative with J.P. Morgan Securities LLC, was fined $5,000 and suspended from association with any Financial Industry Regulatory Authority (FINRA) member in any and all capacities for fifteen days after consenting to findings that he engaged in unauthorized discretionary trading. Letter of Acceptance, Waiver and Consent No….
Kenneth Daley, of Garden City, New York, a stockbroker with Merrill Lynch, Pierce, Fenner & Smith Incorporated, was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that he concealed customer funds and made an unsuitable investment recommendation. Letter of Acceptance, Waiver and Consent,…
Bernard G. McGee, of Cazenovia, New York, a stockbroker with Cadaret, Grant & Co., Inc. was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity per a National Adjudicatory Council Decision containing findings that McGee engaged in fraud, unsuitable recommendations, and unauthorized outside business activities. Department of Enforcement v….
Armando Fernandez, of Miami Beach, Florida, a stockbroker with Morgan Stanley & Co. Incorporated, was fined $7,500.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that he engaged in unauthorized trading and mismarked order tickets. Letter of Acceptance, Waiver and Consent, No. 2013038283001 (May…
MetLife Securities, Inc., headquartered in New York, New York, was censured and fined $20,000,000.00 by Financial Industry Regulatory Authority (FINRA) after consenting to findings that the firm made negligent omissions and misrepresentations concerning annuity products, and failed to supervise annuity transactions. Letter of Acceptance, Waiver and Consent, No. 20140408700001 (May 3, 2016). According to the…
Timothy Francis Dufresne, of Bamberg, South Carolina, a stockbroker with SagePoint Financial, was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that he converted customer funds. Letter of Acceptance, Waiver and Consent, No. 2016049412601 (Apr. 8, 2016). According to the AWC, between October…
Multiple Financial Industry Regulatory Authority (FINRA) member broker dealers, including Robert W. Baird & Co, Inc., BB&T Securities, LLC., U.S. Bancorp Investments, Inc., Fifth Third Securities, Inc., and PNC Investments LLC, were recently censured and ordered to pay restitution to customers after consenting to findings that the firms’ overcharged customers in mutual funds purchases, and…
Further Lane Securities, L.P., stockbroker James Gabriel Collard, and Chief Executive Officer Joseph Michal Araiz, all of Boerne, Texas, were named in a Complaint containing allegations of excessive markups pertaining to corporate bond transactions and related supervisory failures. Department of Enforcement v. Collard et al., No. 20120342425-01-01- (Mar. 11, 2016). Further. according to the Complaint,…
Harold Joseph Petro, of Indianapolis, Indiana, a stockbroker with Merrill Lynch, was fined $15,000.00 and suspended for six months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he engaged in unauthorized discretionary trading in customer accounts. Letter of Acceptance, Waiver and Consent, No. 2014040640101 (Mar….
Joel S. Bovee, of Wayzata, Minnesota, a stockbroker with Feltl & Company, was fined $5,000.00 and suspended for two months from association with any Financial Industry Regulatory Authority (FINRA) member in a principal capacity after consenting to findings that he had failed to supervise a stockbroker who engaged in unsuitable transactions. Letter of Acceptance, Waiver…
Andrew Scott Corbman, of Lansdown, Virginia, was suspended for one month from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he engaged in unsuitable recommendations and provided misleading communications to investors. Letter of Acceptance, Waiver and Consent, No. 2010024620302 (Feb. 1, 2016). According to the AWC,…
Key Investment Services, LLC, Next Financial Group, Inc., Stephens Inc., Bankers & Investors Co., and J.J.B. Hilliard, W.L. Lyons LLC were all recently censured and fined by Financial Industry Regulatory Authority (FINRA) for failing to apply sales charge discounts to certain customers’ eligible purchases of unit investment trusts (“UITs”) in violation of FINRA Rule 2010;…
Alton Securities Group, Inc. located in Alton, Illinois, was censured and fined $75,000.00 by Financial Industry Regulatory Authority (FINRA) after consenting to findings that the firm had an inadequate supervisory system pertaining to non-traditional exchange traded funds and non-traditional mutual funds, caused unsuitable recommendations to be made to customers, and caused excessive markups/markdowns on municipal debt…
Merid Amde of Troy, Michigan, a stockbroker with Wunderlich Securities, was fined $20,000.00 and suspended for three months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity per an Order Accepting Offer of Settlement containing findings that Amde engaged in unauthorized discretionary trading, mismarking order tickets as solicited, falsification of records,…
Jason Bryce Vanclef fist became registered with the Financial Industry Regulatory Authority in 2006, and since that time, he has been the subject of no less that seven customer initiated investment related complaints alleging fraud, and most recently on February 6, 2016, a FINRA regulatory action also alleging fraud in connection with the sale of…
Craig G. Langweiler of Philadelphia, Philadelphia, a registered representative with Meyers Associates, L.P., was charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement in a Complaint alleging that Langweiler had willfully failed to update his Uniform Application for Securities Industry Regulation or Transfer (Form U4) to timely disclose tax liens and civil judgments. Department…
Thomas M. Phillips II of Columbus Ohio, a registered representative with Wesbanco Securities, Inc., was censured and fined $10,000 after consenting to findings that he misstated fees associated with variable annuity transaction switch forms. Letter of Acceptance, Waiver and Consent, No. 2014039231201 (Dec. 4, 2015). According to the AWC, from November 2013 – September 2014,…
J.P. Turner & Company, based in Atlanta, Goeorgia, was censured and fined $140,000 by Financial Industry Regulatory Authority (FINRA) after consenting to findings that the firm had not charged customers prices that were fair and reasonable in the purchase/sale of securities. Letter of Acceptance, Waiver and Consent, No. 20130358778 (Nov. 25, 2015). According to the…
John S. Matthews of New York, New York, the former owner of Global Arena Capital Corporation, was fined $25,000 and suspended for six months from association with any Financial Industry Regulatory Authority (FINRA) member after consenting to findings that he engaged in unauthorized private securities transactions. Letter of Acceptance, Waiver and Consent, No. 2013037235012 (Dec….
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…
Jeffrey David Snyder, a Stockbroker with Network 1 Financial Securities, was permanently barred from association with any Financial Industry Regulatory Authority (FINRA) member firm in any and all capacities after consenting to findings that he failed to fully cooperate with a FINRA investigation into allegations of Snyder’s covering of a customer’s losses. Letter of Acceptance,…
Andrew M. Abern, a Stockbroker with Dalton Strategic Investment Services Inc., was permanently barred from association with any member of Financial Industry Regulatory Authority (FINRA) in any capacity after consenting to findings that he failed to cooperate with a FINRA investigation into Abern’s recommendations to customers regarding variable annuities. Letter of Acceptance, Waiver, and Consent,…
Heon Kim, a Stockbroker with Ameritas Investment Corporation, was barred from association with any Financial Industry Regulatory Authority (FINRA) member firm in any and all capacities after consenting to FINRA findings that he failed to cooperate in an FINRA investigation into allegations that Kim had engaged a non-licensed individual to solicit and sell variable products…
Aaron Heimowitz, a Stockbroker with Newport Coast Securities, was suspended from association with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity for a period of seven months and fined $15,000 after consenting to findings that Heimowitz participated in private securities transactions and outside business activities in violation of firm policies. Letter of…
Brodie Johnson, a Stockbroker with Merrill Lynch, was permanently barred from association with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that Johnson had failed to provide information and documentation pursuant to a FINRA investigation into Johnson’s alleged outside business activities and trading in personal accounts. Letter of Acceptance,…
Santander Securities, LLC, was censured, fined $2,000.000.00, and ordered to pay restitution of roughly $4,300,000.00 after consenting to Financial Industry Regulatory Authority (FINRA) findings that the firm had failed to have a reasonably designed supervisory system and set of procedures pertaining to sales of Puerto Rico Municipal Bonds to customers in Puerto Rico, and had…
David D. Lewis, who held the positions of chairman, chief executive officer, chief compliance officer, and compliance registered options principal with First Washington Corporation, was suspended from association with all Financial Industry Regulatory Authority (FINRA) members in all capacities for two years and fined $30,000 per an Office of Hearing Officers Settlement containing findings that…
Jeffrey D. Daggett, a Stockbroker with Wells Fargo Advisors, received a four-month suspension from association with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity, as well as a $20,000.00 fine after consenting to findings that he recommended unsuitable transactions in exchange trade notes, as well as leveraged and inverse leveraged exchange traded…
UBS Financial was censured, fined $7,500,000.00, and ordered to pay restitution to 165 customers in the amount of $10,978,402.00 after the firm consented to Financial Industry Regulatory Authority (FINRA) findings that it failed to establish and maintain a supervisory system and procedures reasonably designed to ensure suitability of transactions in closed end funds. Acceptance, Waiver,…
Jordon S. Trice, a registered representative with Great Circle Financial, was charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement in a Complaint containing allegations that Trice had effected options transactions in an account that was not approved for options trading. Department of Enforcement v. Trice, No. 2012030670603. According to the Complaint, from January…
Giovanni L. Acevedo, a registered representative with ING, has been charged by the Financial Industry Regulatory Authority (FINRA) in a Complaint alleging that Acevedo stole in excess of $160,000 in customer funds from three clients of the firm for Acevedo’s personal use, while also falsifying information to FINRA regulators during an investigation into Acevedo’s conversion…
Thomas J. Buck, a former Indiana based financial advisor associated with RBC Capital Markets, LLC, was barred from association with any FINRA-registered firm in all capacities after consenting to FINRA findings containing allegations Buck committed misconduct pertaining to commission-based accounts and unauthorized trading and exercise of discretion without oral or written authorization. FINRA Letter of…
Everyone knows, and has known, including apparently the US Congress, that Wall Street’s Kangaroo Court, also known as FINRA Securities Arbitration, is a sham. In 2008, based upon the perceived unfairness of arbitration, and particularly, the “unwillingness” of the judiciary to earnestly examine “egregious” arbitration awards, motivated Congress to seek to make these arbitrations “voluntary.”…
Last week, United States Representative Keith Ellison introduced the Investor Choice Act of 2015 (H.R. 1098), a bill to end pre-dispute mandatory or “forced” arbitration agreements and ban prohibitions on class action lawsuits in customer service contracts between investment advisers and broker-dealers and their clients. “Working Americans shouldn’t have to sign away their rights in order…
Malcolm Segal was a registered representative, and operated his own branch office of Aegis Capital Corp. in Langhorn, Pennsylvania operating under the name J&M Financial. Segal also controlled or operated another company, National CD Sales. Beginning sometime in 2013, it appears that Segal began to sell investors bank certificates of deposit, which at least according…
What practitioners have known for a long time: The Financial Industry Regulatory Authority’s Arbitration forum is unfair to investors. However, at least this time, there is empirical evidence to back up these claims of unfairness. Some History of Investor Unfairness By way of background, since 1987 and the Supreme Court’s holding in Shearson v. McMahon,…
Last month, the Financial Industry Regulatory Authority (FINRA) issued an investor alert to remind investors that a careful review of their periodic brokerage account statements is an important way for them to stay informed about what brokers are doing with their money. The alert, titled “It Pays to Understand Your Brokerage Account Statements and Trade Confirmations,”…
Securities arbitration results from the Financial Industry Regulatory Authority (“FINRA”) Office of Dispute Resolution reporting the outcomes of customer initiated investment related arbitrations against stockbrokers and investment firms has been released for 2009. Not surprisingly, the number of FINRA customer initiated arbitration cases filed in 2009 increased 43% from 4,982 cases in 2008 to 7,137…
Financial crises have a way of jolting investors into seeing that perhaps their brokers weren’t such trustworthy advisers after all. Requests for arbitration hearings are up 85 percent so far this year at the Financial Industry Regulatory Authority, the only place investors can go when they think they have been fleeced. Going to court isn’t…
According to the latest figures from the Financial Industry Regulatory Authority (FINRA), through October 2008, investment arbitration claims are up 49% from 2007. In addition, during the first 10 months of 2008, more cases have been already been filed than were filed in all of last year. Most brokerage agreements contain provisions that any disputes…
In a case allegedly involving stolen stock, Wachovia Securities LLC was hammered in a recent arbitration loss and ordered to pay clients $5.3 million in damages. An award of that size is a huge win for investors, attorneys said. The case, which was decided July 30, centered on allegations that Wachovia of St. Louis “accepted…
In a superficial effort to avoid Congress enacting the Arbitration Fairness Act, in response to the perceived corruption of the arbitration process by FINRA, a “self”-regulatory organization consisting of the same brokerage firms that are the defendants or respondents in these cases, announced that it will launch a two-year pilot program later this fall. The pilot program…
Saying stockbrokers should be barred from hiding their mistakes, Attorney General Douglas F. Gansler lauded a federal appeals court for allowing state regulators to intervene in malpractice settlements in an attempt to make sure the action stays on the broker’s national record. But the outcome was decried by an attorney for the former broker who…
Last August, Wall Street firm Morgan Stanley and one of its senior traders agreed to pay $6.1 million in fines and restitution to settle allegations that the investment bank overcharged brokerage customers on 2,800 purchases of $59 million of bonds. Dana de Windt, a Crucial Inside Source Regulators investigating the case had a crucial inside…
General Description of Auction Rate Securities Auction rate securities were first offered for sale in U.S. financial markets in the early 1980s. As of the end of 2005, there were approximately $263 billion of auction rate securities outstanding. Many different types of issuers have issued auction rate securities for example, closed-end funds, corporations, municipal authorities…
Recent downgrades of municipal bond insurers and other short-term liquidity concerns have created extreme volatility in the market for municipal Auction Rate Securities. There also have been an unprecedented number of “failed auctions,” meaning that investors who chose to liquidate their positions through the auction process were not able to do so. This situation may…
Testimony of Tanya Solov Director, Illinois Securities Department Illinois Secretary of State On behalf of the North American Securities Administrators Association Before the United States Senate Committee on the Judiciary Constitution Subcommittee December 12, 2007 S. 1782, the Arbitration Fairness Act of 2007 December 12, 2007 Chairman Feingold, Ranking Member Brownback, and Members of the…
A critical part of the hiring process in the securities industry is the background investigation of prospective personnel. For instance, background investigations can help member firms determine whether a prospective employee is subject to a statutory disqualification or whether he or she may present a regulatory risk for the firm and customers. Firms Obligations It…
The Financial Industry Regulatory Authority has fined Oppenheimer & Co. Inc. $1 million to settle charges it produced “flawed, incomplete and untimely data” in breakpoint self-assessment. FINRA claimed that New York boutique firm Oppenheimer submitted fund breakpoint data to FINRA that the firm knew to be inaccurate, in addition to other supervisory deficiencies, in 2003….
NYSE HEARING BOARD DECISION 07-143 September 7, 2007 Citigroup Global Markets Inc. Violated NYSE Rule 401(a) by failing to ensure delivery of prospectuses in connection with sales of registered securities in violation of Section 5(b)(2) of Securities Act of 1933 and to deliver trade confirmations to certain customers; violated NYSE Rule 1100(b) by failing to…
NEW YORK STOCK EXCHANGE LLC NYSE HEARING BOARD DECISION 07-129 September 7, 2007 BANC OF AMERICA SECURITIES LLC MEMBER ORGANIZATION Violated NYSE Rule 401(a) by failing to ensure delivery of prospectuses in connection with sales of registered securities in violation of Section 5(b)(2) of Securities Act of 1933; violated NYSE Rule 1100(b) by failing to…
NEW YORK STOCK EXCHANGE LLC NYSE HEARING BOARD DECISION 07-116 September 7, 2007 WACHOVIA CAPITAL MARKETS LLC MEMBER ORGANIZATION Violated NYSE Rule 1100(b) by failing to deliver product descriptions to customers that purchased Exchanged Traded Funds; violated NYSE Rule 342 by failing to provide for, establish, and maintain appropriate procedures of supervision and control, including…
Allianz will provide restitution to seniors and implement more stringent suitability processes. Minnesota Attorney General Lori Swanson announced today the settlement of a lawsuit she brought in January against Allianz Life Insurance Company of North America for selling deferred annuities to Minnesota senior citizens without first determining whether the annuities were suitable investments for the…
Mutual Service Corp. of West Palm Beach Fla., and five of its principals are the subjects of a complaint by Financial Industry Regulatory Authority concerning allegedly shoddy and inaccurate books and records over sales of variable annuities, including tax-free exchanges, known as 1035 exchanges. MSC, with about 1,200 affiliated registered representatives and 800 branches, was…
Pruco Securities, LLC (CRD #5685, Newark, New Jersey) and Prudential Investment Management Services LLC (CRD #18353, Newark, New Jersey) submitted a Letter of Acceptance, Waiver and Consent in which they were censured, fined $525,000, jointly and severally, and required to conduct an audit and prepare written findings regarding their compliance with NASD rules relating to…
NEWARK, NJ – Citigroup Global Markets Inc. has been ordered to cease and desist from violations of the New Jersey Uniform Securities Law, and to pay the state $5 million in civil monetary penalties under the terms of a consent order announced today by Attorney General Anne Milgram, Consumer Affairs Acting Director Stephen B. Nolan…
Morgan Stanley agreed Wednesday to pay nearly $8 million to settle federal fraud charges stemming from its reported failure to get retail stock investors the best prices possible on more than a million over-the-counter transactions. The Settlement Over roughly three years, the Securities and Exchange Commission said Wednesday in announcing the settlement, “Morgan Stanley’s automated…
The Securities and Exchange Commission (SEC) has approved the NASD Codes of Arbitration Procedure for Customer and Industry Disputes (hereinafter referred to as the Customer and Industry Codes, respectively, or new Codes). Customer and Industry Codes The Customer and Industry Codes reorganize the dispute resolution rules into separate procedural codes, simplify the language of the…