Gregory Alan Corrie (also known as Greg Corrie), of Boise, Idaho, a stockbroker registered with Cambridge Investment Research Inc., has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because Corrie refused to provide documents and information requested by FINRA during an investigation into his activities while he was…
David Scott Lex of Mequon, Wisconsin, a stockbroker formerly registered with BMO Harris Financial Advisors Inc., is referenced in a customer initiated investment related Financial Industry Regulatory Authority (FINRA) securities arbitration claim that was settled for $85,000.00 in damages based upon allegations that Lex failed to follow instructions, made unsuitable investment recommendations, and made misrepresentations…
Tyson William Allred, of Portland, Oregon, a stockbroker formerly registered with U.S. Bancorp Investments Inc., is the subject of a customer initiated investment related complaint filed on September 5, 2023, in which the customer requested $998,131.88 in damages based upon allegations that Allred made specific assurances that the investment chosen for the customer involved protected…
Gary Steven Costello II, of Boca Raton, Florida, a stockbroker registered with Oppenheimer Co. Inc., is the subject of an investment related FINRA securities arbitration claim in which the customer requested $2,103,426.00 in damages based upon allegations that Costello engaged in churning, unauthorized withdrawals, negligence, breach of fiduciary duty, breach of contract, fraud, and state…
Christopher Francis Harrington Jr. of New York, New York, a stockbroker registered with Merrill Lynch Pierce Fenner Smith Inc., has been fined $11,500.00 and suspended for nine months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because Harrington generated excessive fees and made unsuitable investment recommendations. Letter of Acceptance, Waiver,…
Matthew Wayne Shaughnessy (also known as Matthew Shughnessy), of Henderson, Nevada, a stockbroker registered with Ameriprise Financial Services LLC, was the subject of a customer initiated investment related complaint filed on March 23, 2023, in which the customer requested $200,000.00 in damages based upon allegations that Shaughnessy made misrepresentations of material fact and made unsuitable…
Steven Andrew Hill (also known as Andy Hill), of Atwater, California, a stockbroker registered with Wells Fargo Clearing Services LLC, is the subject of a customer initiated investment related Financial Industry Regulatory Authority (FINRA) securities arbitration claim in which the customer requested compensation based upon allegations that Hill made misrepresentations of material fact in connection…
Corey Jon Engelhard of Plantation, Florida, a stockbroker registered with Morgan Stanley, was the subject of a customer initiated investment related complaint filed on October 10, 2022, in which the customer requested compensation based upon allegations that Engelhard made unsuitable recommendations of unit investment trusts (“UITs”) during the time that Engelhard was associated with Morgan…
Joel Christopher Riedel of Lockport, New York, a stockbroker registered with NYLife Securities LLC, has been fined $10,000.00 and suspended for four months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because Riedel lied and mismarked order tickets to falsely claim that investors purchased questionable Unit Investment Trusts (“UITs”) on…
Emilio Guajardo Jr., of Houston, Texas, a stockbroker registered with BBT Securities LLC, was the subject of a customer initiated investment related complaint that was settled on August 26, 2022, for $607,856.00 in damages based upon allegations that Guajardo made misrepresentations of material fact in connection with the sale of unit investment trusts when Guajardo…
Donnie Eugene Ingram (also known as Don Ingram), of Winter Haven, Florida, a stockbroker registered with Centaurus Financial Inc., has been fined $15,000.00 and suspended for six months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because Ingram made unsuitable investment recommendations. Department of Enforcement v. Ingram et al., Order…
Joel Christopher Riedel of Lockport, New York, a stockbroker registered with NYLIFE Securities LLC, has been fined $10,000.00 and suspended for four months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he engaged in unauthorized trading and mismarked an order ticket when he was…
William Hennion of New York, New York, the Vice President of Hennion Walsh Inc., was the subject of a customer initiated investment related FINRA securities arbitration claim that was settled for $260,000.00 in damages based upon allegations of unsuitable recommendations of unit investment trusts and bonds at Hennion Walsh Inc. Financial Industry Regulatory Authority (FINRA)…
Avinash Daswani (also known as Avi Daswani), of Plainview, New York, a stockbroker registered with Allstate Financial Services LLC, was the subject of a customer initiated investment related complaint filed on March 22, 2022, seeking damages based upon allegations that Daswani made omissions of material fact in connection with the recommendation and sale of Unit…
Donnie Eugene Ingram of Winter Haven, Florida, a stockbroker formerly registered with Centaurus Financial Inc., and Centaurus Financial are the subject of a Financial Industry Regulatory Authority (FINRA) enforcement action in which the regulator is seeking sanctions against Ingram based upon allegations that Ingram made unsuitable recommendations, and that Centaurus Financial failed to reasonably supervise…
Justin Walt Parker of Del Mar, California, a stockbroker registered with Hilltop Securities Inc. is the subject of a customer initiated investment related complaint on March 18, 2021, where the customer requested $280,000.00 in damages based upon accusations that Parker made unsuitable recommendations in connection with the sale of municipal bonds when Parker was associated…
Mark Allen Frommer of Chicago, Illinois, a stockbroker formerly registered with Morgan Stanley, is referenced in a customer initiated investment related written complaint on December 3, 2021, in which the customer sought $700,000.00 in damages supported by allegations of unauthorized trading by Frommer when he was registered with Morgan Stanley. Frommer has been identified in…
Lynn Cooper Faust (also known as Donna Lynn Cooper), of Greenville, South Carolina, a stockbroker formerly registered with Raymond James Associates, has been fined $5,000.00 and suspended for three months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that she made unsuitable recommendations to Raymond James Associates…
Wells Fargo Clearing Services and Wells Fargo Advisors Financial Network, of St. Louis, Missouri, have been censured and collectively fined $650,000.00 by Financial Industry Regulatory Authority (FINRA) based on findings that Wells Fargo failed to supervise stockbrokers’ unit investment trust trades in customer accounts. Letter of Acceptance, Waiver, and Consent No. 2016050947801 (December 13, 2021)….
Mark Lee Elafros, of Northbrook, Illinois, a stockbroker formerly registered with Ausdal Financial Partners Inc., is the subject of a customer initiated investment related FINRA securities arbitration claim in which the customer requested compensatory damages based upon accusations of Elafros making unsuitable private placement and unit investment trust sales to the customer when he was…
Gary Max Bowman, of Corona, California, a stockbroker formerly registered with Sagepoint Financial Inc., has been fined $10,000.00 and suspended for three months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that Bowman engaged in unsuitable trading of unit investment trusts (UITs) when he was registered with…
Eric Peter Weschke, of Setauket, New York, a stockbroker currently registered with Kalos Capital Inc., is identified in a customer initiated investment related FINRA securities arbitration claim in which the customer sought $138,000.00 in damages founded on accusations of negligence and unsuitable alternative investment transactions by Weschke during the time that he was associated with…
Gerardo Ivan Castillo, of Miami, Florida, a former stockbroker and investment adviser representative of Wells Fargo Clearing Services LLC, is the subject of a customer initiated investment related FINRA securities arbitration claim which was resolved for $125,000.00 in damages based on accusations that Castillo made misrepresentations to the customer regarding their account at Wells Fargo…
Evan Kyle Davis (also known as Garry Davis) a stockbroker formerly registered with Raymond James Associates Inc. is referenced in a customer initiated investment related FINRA securities arbitration claim which was settled for $75,000.00 in damages founded upon accusations of the violation of Securities Exchange Act of 1934 Section 10(b) in reference to the unit…
Douglas Keith Ellman of Boca Raton Florida a stockbroker currently registered with Shearson Financial Services is the subject of a customer initiated investment related FINRA securities arbitration claim in which the customer requested unspecified damages founded upon allegations that Ellman placed them into inappropriate common and preferred stock between February of 2019 and November of…
Sherry Lynn Baker (also known as Sherry Lynn Obrecht) of Salem Illinois a stockbroker formerly registered with Raymond James Financial Services is the subject of a FINRA investigation in which Baker may face disciplinary action for potentially making unsuitable trades in a customer’s account. Case No. 20180604604 (February 19, 2021). According to FINRA Public Disclosure,…
Debasish Hajra (also known as Dave Hajra) of Marietta Georgia a stockbroker formerly registered with Wells Fargo Clearing Services LLC has been fined $5,000.00 and suspended for thirty days from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that unauthorized unit investment trust and bond trades were executed…
David Richard Geake of Northbrook Illinois a stockbroker currently registered with American Trust Investment Services is referenced in a customer initiated investment related FINRA securities arbitration claim in which the customer requested compensatory damages supported by accusations that Geake breached a fiduciary duty and placed the customer into securities that were not suitable for them…
Leonard Voris Fox Jr. of Marlton New Jersey a stockbroker formerly registered with FSC Securities Corporation is the subject of a customer initiated investment related FINRA securities arbitration claim which was resolved for $150,000.00 in damages founded on accusations that the customer’s funds had been misappropriated and that Fox misled them during the time that…
Kelly Wayne Feehrer of Chattanooga Tennessee a stockbroker formerly registered with Merrill Lynch Pierce Fenner Smith Incorporated has been fined $5,000.00 and suspended for three months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that he made unsuitable recommendations to customers in reference to unit investment trust…
Scott Ryland Mathews of Charlotte North Carolina a stockbroker formerly registered with Merrill Lynch Pierce Fenner Smith Incorporated has been fined $5,000.00 and suspended for three months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings of Mathews providing unsuitable recommendations to customers regarding unit investment trust transactions…
Merrill Lynch Pierce Fenner Smith Incorporated a securities broker dealer headquartered in New York New York has been censured and fined $3,250,000.00 by Financial Industry Regulatory Authority (FINRA) based upon findings that Merrill Lynch failed to supervise its stockbrokers’ recommendations of unit investment trusts resulting in customers being overcharged on UIT transactions. Letter of Acceptance…
Richard Paul Altieri of Boca Raton Florida a stockbroker and investment adviser representative of Morgan Stanley has been discharged on February 11, 2021 supported by accusations of Altieri failing to report complaints and misusing Morgan Stanley Wealth Management information. Altieri has been identified in four customer initiated investment related disputes regarding allegations of his wrongdoing…
Andrew James Pravlik of Pittsburgh Pennsylvania a stockbroker formerly registered with Prospera Financial Services is the subject of a customer initiated investment related FINRA securities arbitration claim which was settled for $27,000.00 in damages supported by allegations that five unsuitable alternative investments had been recommended by Pravlik during the time that he was associated with…
William Robert Young (also known as Bill Young) of Rockville Maryland a stockbroker and investment adviser representative of Kingswood Capital Partners LLC is the subject of a customer initiated investment related complaint on October 1, 2020 in which the customer sought more than $5,000.00 in damages supported by accusations that the customer had been sold…
Ivan Shore of New York New York a stockbroker formerly registered with Oppenheimer Co. Inc. has been fined $5,000.00 and suspended for three months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that Shore made unsuitable recommendations to customers regarding unit investment trusts during the time that…
Kurt Jason Gunter of Austin Texas a stockbroker formerly registered with Stifel Nicolaus Company Incorporated has been fined $10,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that he made recommendations that were not suitable for Stifel Nicolaus customers as it pertained to unit investment…
Martin William Padilla of Los Angeles California a stockbroker formerly registered with Oppenheimer Co. Inc. is referenced in a Financial Industry Regulatory Authority (FINRA) investigation into accusations that Padilla made unsuitable trades of unit investment trusts in customer accounts. Case No. 2018057228701 (Aug. 7, 2020). FINRA Public Disclosure indicates that Department of Enforcement might proceed…
Thomas Von Reckers (also known as Tom VonReckers) of Lakewood Colorado a stockbroker formerly employed by Wells Fargo Advisors Financial Network is referenced in a customer initiated investment related arbitration claim which was settled for $90,000.00 in damages founded on accusations that a fiduciary duty that was owed to the customer had been breached and…
Michael Rubel of Red Bank New Jersey a stockbroker formerly registered with Capital Securities Management has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that he made unsuitable unit investment trust transactions in customer accounts at Capital Securities Management. Letter of Acceptance Waiver and Consent…
Frederick Scott Levine of Florham Park New Jersey a stockbroker formerly registered with Oppenheimer Co. Inc. has been suspended for three months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings that Levine made unsuitable rollovers of unit investment trusts in Oppenheimer customer accounts. Letter of Acceptance Waiver…
SagePoint Financial a securities broker dealer headquartered in Phoenix Arizona has been censured and fined $300,000.00 by Financial Industry Regulatory Authority (FINRA) based upon findings that it failed to supervise short-term trades of unit investment trusts with a view towards ensuring the suitability of those transactions for customers. Letter of Acceptance Waiver and Consent No….
Stifel Nicolaus a securities broker dealer headquartered in Saint Louis Missouri has been censured and fined $1,750,000.00 by Financial Industry Regulatory Authority (FINRA) founded on findings that (1) Stifel Nicolaus failed to supervise customers’ unit investment trust transactions which led to seemingly inappropriate and unwarranted sales charges and (2) Stifel Nicolaus provided customers with wrong…
Dennis Robberecht (also known as Dennis Robreck and as Dennis Robbercht) of Roseville California a stockbroker currently associated with Hilltop Securities Inc. has been referenced in a customer initiated investment related written complaint on January 13, 2020 in which the customer requested $46,000.00 in damages supported by allegations that misrepresentations had been made about securities…
Brian Douglas Engstrom (also known as Brian Douglas Cordes) of Pensacola Florida a stockbroker formerly registered with Oppenheimer Co. Inc. has been fined $5,000.00 and suspended for three months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he provided bad investment recommendations to his…
Joseph Ismael Rodriguez of Parsippany New Jersey a stockbroker currently employed by Hennion Walsh Inc. has been identified in a customer initiated investment related arbitration claim where the customer sought $300,000.00 in damages founded on accusations that the customer was provided with defective investment advice regarding investments including unit investment trusts and mutual funds between…
Gale Ann Brodie (also known as Gale Ann Jenckes) of Sacramento California a stockbroker registered with Waddell Reed Inc. is the subject of a customer initiated investment related complaint on June 1, 2018 in which the customer requested $57,000.00 in damages based upon allegations that the customer was placed into unit investment trust products containing…
Walter Roland Valenzuela of Del Mar California a stockbroker currently registered with Hilltop Securities Inc. is referenced in a customer initiated investment related complaint which was settled on November 1, 2018 for $100,000.00 in damages founded on accusations that (1) unit investment trust trades were made in the customer’s account on an excessive basis (2)…
Cecil Allen Ross of Orlando Florida a stockbroker formerly registered with Raymond James Associates 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 Ross made unsuitable recommendations of unit investment trust transactions in customer accounts. Letter…
Cambridge Investment Research a securities broker dealer headquartered in Fairfield Iowa has been censured and fined $150,000.00 by Financial Industry Regulatory Authority (FINRA) based upon findings that (1) Cambridge failed to adequately supervise mutual fund and unit investment trust (UIT) trades (2) Cambridge neglected to create an adequate supervision system to identify and prevent its…
Oppenheimer Co. Inc. a securities broker dealer headquartered in New York New York has been censured and fined $800,000.00 by Financial Industry Regulatory Authority (FINRA) based upon findings that the securities broker dealer neglected to adequately supervise its stockbrokers’ unit investment trust trades in customer accounts. Letter of Acceptance Waiver and Consent No. 2016050948101 (Dec….
Joe Tom King Jr. of Panama City Florida a stockbroker formerly employed by Raymond James Associates Inc. has been discharged by the securities broker dealer on December 6, 2018 founded on accusations that the stockbroker engaged in inappropriate unit investment trust transactions. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that King is referenced in…
Key Investment Services LLC a securities broker dealer headquartered in Brooklyn Ohio has been censured and fined $425,000.00 by Financial Industry Regulatory Authority (FINRA) based upon findings that the securities broker dealer: (1) failed to supervise unit investment trust transactions executed in customer accounts by its stockbrokers (2) neglected to enforce procedures relating to the…
Christopher Robert Hickman of Delray Beach Florida a stockbroker formerly registered with Cetera Advisors LLC is the subject of a customer initiated investment related arbitration claim in which the customer requested $1,000,000.00 in damages founded on allegations that (1) fiduciary duties were breached (2) misrepresentations had been negligently made by the stockbroker in regard to…
Michael Frank Greenstone of Palm Beach Florida a stockbroker formerly registered with Morgan Stanley Smith Barney is referenced in a customer initiated investment related arbitration claim in which the customer requested $5,000,000.00 in damages based upon accusations that between 2013 and 2019, the customer had been placed into unit investment trust and equity products which…
Elaine Diones Lacerte of Colorado Springs Colorado a stockbroker formerly registered with Morgan Stanley is the subject of a customer initiated investment related arbitration claim which was settled for $9,500.00 in damages supported by accusations that unit investment trust transactions effected by the stockbroker were unsuitable for the customer. Financial Industry Regulatory Authority (FINRA) Arbitration…
Roger Dale Davis of Ooltewah Tennessee a stockbroker currently employed by ProEquities Inc. is the subject of a customer initiated investment related complaint on June 27, 2019 in which the customer sought $180,000.00 in damages supported by accusations that (1) the customer had been misled by Davis as it concerned the nature of unit investment…
Gregory Jon Williams (also known as Greg Williams) of Greenwood Village Colorado a stockbroker currently registered with Presidential Brokerage Inc. is the subject of a customer initiated investment related arbitration claim where the customer requested $578,821.00 in damages supported by allegations that (1) fiduciary obligations failed to be complied with by Williams (2) fraudulent transactions…
Sean Michael Logue of Parsippany New Jersey a stockbroker currently registered with Hennion Walsh Inc. is the subject of a customer initiated investment related written complaint which was resolved for $10,000.00 on May 9, 2019 based upon accusations of bad mutual fund investment recommendations being made to the customer which resulted in the customer purchasing…
Paul William Lascelle of Flemington New Jersey a stockbroker formerly registered with Morgan Stanley Smith Barney is the subject of a customer initiated investment related arbitration claim which was resolved for $45,000.00 in damages supported by accusations that unit investment trust, stock and mutual fund trades had been executed in the customer’s account in excessive…
Citigroup Global Markets Inc. a securities broker dealer headquartered in New York New York has been censured and fined $200,000.00 by Financial Industry Regulatory Authority (FINRA) based upon allegations that (1) Citigroup overcharged its customers in regard to their purchases of unit investment trusts and (2) Citigroup failed to supervise the unit investment trust transactions…
Ronald Ray Willoughby Jr. (also known as Ron Willoughby) of Tempe Arizona a stockbroker formerly registered with Morgan Stanley has been fined $5,000.00 and suspended for three months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on allegations of Willoughby making bad short-term unit investment trades in accounts of…
Alejandro Ariel Torres of Miami Florida a stockbroker formerly registered with Global Strategic Investments LLC is the subject of a customer initiated investment related arbitration claim which was settled for $32,500.00 in damages founded on accusations that misrepresentations had been made to the customer by Torres in regard to the customer’s investments and (2) investments…
Richard Alan Shotz of Daytona Beach Florida a stockbroker formerly employed by Wells Fargo Clearing Services LLC is the subject of an Order issued by the State of Maryland Securities Division revoking Shotz’s securities registration in the state based upon Shotz’s failure to respond to an Order To Show Cause relating to Shotz’s fine and…
Franklin Hamilton Reynolds of Charlotte North Carolina a stockbroker formerly employed by Raymond James Associates Inc. has been discharged by the firm on October 22, 2018 based upon the firm’s allegations that Reynolds engaged in suspicious activities concerning unit investment trusts while associated with the firm. Financial Industry Regulatory Authority (FINRA) Public Disclosure additionally reveals…
Barbara Ann Endres of Grand Junction Colorado a stockbroker formerly registered with Wells Fargo Advisors LLC and investment adviser representative of Lifetime Wealth Advisors LLC has been barred by Securities and Exchange Commission (SEC) in all capacities according to an Order Instituting Administrative Proceedings Pursuant to Investment Advisers Act of 1940 Section 203(f) containing findings…
Harvey Allan Kaluzna of Northbrook Illinois a stockbroker currently employed by Sigma Financial Corporation is the subject of a customer initiated investment related arbitration claim which was settled for $28,000.00 in damages based upon accusations that (1) misrepresentations had been made to the customer concerning unit investment trust and real estate security investments held in…
Harold Weber of Airmont New York a stockbroker formerly employed by Wells Fargo Advisors LLC is referenced in a customer initiated investment related arbitration claim which was settled for $50,000.00 in damages based upon allegations that between December of 2012 and June of 2016: (1) transactions were executed in the customer’s account that were not…
Hennion Walsh Inc. a broker dealer headquartered in Parsippany New Jersey has been censured and fined $165,000.00 by Financial Industry Regulatory Authority (FINRA) based upon the firm’s consent to findings that (1) Hennion Walsh’s registered representatives made unsuitable investment recommendations concerning the switching of unit investment trusts in customers’ accounts and (2) Hennion Walsh neglected…
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…
Douglas Hammond Freebern of Bartow Florida a stockbroker currently registered with Wells Fargo Clearing Services LLC is referenced in a customer initiated investment related written complaint which was settled on September 14, 2017 to resolve accusations that Freebern placed the customer in a structured product without the customers consent. Financial Industry Regulatory Authority (FINRA) Public…
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…
Robert Frank Pondt of Woodland Hills California a stockbroker formerly employed by Wells Fargo Advisors LLC is the subject of a customer initiated investment related written complaint which settled for $22,000.00 on July 5, 2017 supported by accusations that the customer was provided misleading information about unit investment trust products by being told that the…
David Warg Best of Bethlehem Pennsylvania a stockbroker formerly employed by Oppenheimer & Co. Inc. is referenced in a customer initiated investment related complaint on August 18, 2017 where the customer sought $1,000,000.00 in damages supported by accusations that (1) unsuitable closed-end fund and stock transactions had been executed in the customer’s investment account (2)…
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…
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)….
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…
Eric Howard Kunis of Woodbury New York a stockbroker formerly registered with Maxim Group LLC has been fined $2,500.00 and suspended for two months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings that Kunis executed unsuitable trading in eleven Maxim Group LLC customer accounts. Letter of Acceptance…
Maxim Group LLC a brokerage firm headquartered in New York New York has been censured and fined $65,000.00 by Financial Industry Regulatory Authority (FINRA) based upon the firm’s consent to findings that it failed to supervise its stockbrokers’ recommendations of unit investment trusts to ensure that they were not unsuitable for customers. Letter of Acceptance…
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…
Edward George Murphy of Chicago Illinois a stockbroker currently registered with David A. Noyes Company is referenced in a customer initiated investment related written complaint on October 11, 2017 where the customer sought damages estimated to exceed $5,000.00 based upon accusations that unsuitable unit investment trust trades were placed in the customer’s account. Financial Industry…
Jeffrey David Wiseman of Oxnard California a stockbroker formerly employed by Morgan Stanley is referenced in a customer initiated investment related arbitration claim in which the customer requested unspecified damages founded on allegations that unsuitable municipal debt and unit investment trust transactions were executed in the customer’s account. Financial Industry Regulatory Authority (FINRA) Arbitration No….
An Enforcement Action was commenced against StockCross Financial Services, Inc. and one of its registered representatives, Peter Edward Cunningham by The Commonwealth of Massachusetts, Office of the Secretary of the Commonwealth, Securities Division for fraud in connection with the sale of securities and the violation of the Massachusetts Uniform Securities. StockCross is a registered securities…
SII Investments Inc. a broker-dealer headquartered in Appleton Wisconsin has been censured and fined $325,000.00 by Financial Industry Regulatory Authority (FINRA) based upon the firm’s consent to findings that the firm (1) failed to supervise its registered representatives’ variable annuity recommendations to customers and (2) failed to supervise its unit investment trust business to ensure…
Robert Bartlett Roach III of Little Rock Arkansas a stockbroker formerly employed by Raymond James Financial Services Inc. and advisor with Raymond James Financial Services Advisors Inc. has been discharged by the firm on May 7, 2018 supported by allegations that Roach effected unit investment trust and syndicate trades in customer accounts despite the transactions…
Capitol Securities Management Inc. is a brokerage firm headquartered in Glen Allen Virginia has been censured and fined $100,000.00 by Financial Industry Regulatory Authority (FINRA) based in part on the firm’s consent to findings that it failed to reasonably supervise its business practices to prevent trading of unit investment trusts on an unsuitable basis. Letter…
Roger Alan Klinger of Indianapolis Indiana a stockbroker formerly employed by RBC Capital Markets LLC is the subject of a customer initiated investment related arbitration claim in which the customer sought $100,000.00 in damages based upon allegations that master limited partnership and unit investment trust transactions were effected in the customer’s account that were neither…
Ron Ray Willoughby Junior of Tempe Arizona a stockbroker formerly registered with LPL Financial LLC is referenced in a customer initiated investment related written complaint which settled for $33,035.29 on January 9, 2018 founded on accusations that unit investment trust transactions were executed in the customer’s account that were not suitable for the customer. Financial…
Arshad Hussain of Jasper Alabama a stockbroker formerly employed by Next Financial Group Inc. has been discharged by the firm on March 14, 2018 based upon allegations that Hussain (1) effected short-term trades of investments that were designed for long-term investors and (2) misstated account applications and disclosure forms in order to conceal the customers’…
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…
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…
Stephen Nelson Conrad of Boston Massachusetts is a stockbroker formerly registered with Winslow Evans and Crocker Inc. who is the subject of a customer initiated investment related written complaint which was resolved for $20,353.46 in damages on December 5, 2016 based upon accusations that unit investment trust and equity transactions had been placed in the…
Mark Allen Barrand of Lone Tree Colorado is a stockbroker currently registered with Ameriprise Financial Services, Inc. who is the subject of a customer initiated investment related written complaint on January 11, 2018 in which the customer requested $138,500.00 in damages supported by allegations that Barrand made misrepresentations to the customer concerning the terms of…
Gautam B. Bose of Bethesda Maryland is a stockbroker formerly registered with Next Financial Group Inc. who is the subject of a customer initiated investment related arbitraton claim that settled for $44,000.00 in damages supported by allegations that Bose omitted information concerning the risks and features of a variable annuity and real estate investment trust…
Mark Jude Ketner of New York New York is a stockbroker currently registered with Maxim Group LLC who has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he made unsuitable investment trust recommendations to customers. Letter of Acceptance Waiver…
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…
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…
Jeffrey Collins Kinder of St. Louis Missouri is a stockbroker formerly registered with Huntleigh Securities Corporation who has been fined twenty thousand dollars and suspended for fifteen months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity by consenting to findings that he made unsuitable investment recommendations to customers in regard…
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…
Berthel Fisher Co. Financial Services Inc. is a broker-dealer headquartered in Cedar Rapids Iowa that has been censured and fined two hundred and twenty-five thousand dollars according to an Office of Hearing Officers Order Accepting Offer of Settlement containing findings that the firm failed to supervise unit investment trust transactions effected in customer accounts. Department…
Kevin Mark Nast of Northville Michigan is a stockbroker formerly registered with Transamerica Financial Advisors Inc. who is the subject of a customer initiated investment related arbitration claim which settled for fourteen thousand dollars in damages supported by accusations that Nast made unsuitable investment recommendations to the customer and executed unauthorized transactions in the customer’s…
Jeffrey Paul Dragon, of Burlington, Massachusetts, a stockbroker formerly registered with Berthel, Fisher & Co. Financial Services, Inc., has been fined $50,000.00 and suspended for twenty-one months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity according to a FINRA Office of Hearing Officers Order Accepting Offer of Settlement containing findings…
Jeffrey Brewer McAleney, of Morristown, New Jersey, a stockbroker currently registered with J.P. Morgan Securities, LLC, is the subject of a customer initiated investment related written complaint on October 13, 2017, where the customer requested $20,271.50 in damages supported by allegations that between 2014 and 2016, McAleney made unsuitable investment recommendations to the customer regarding…
Keven J. Jedlicka, of Baltimore, Maryland, a stockbroker formerly registered with Chaplin Davis, has been suspended for six months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he traded in customer accounts on an unsuitable basis. Letter of Acceptance, Waiver and Consent, No. 2016047659701…
Aaron Christopher Mesaros, of Mukilteo, Washington, a stockbroker currently registered with Allstate Financial Services, LLC, is the subject of a customer initiated investment related written complaint on November 19, 2015, in which the customer requested $5,000.00 in estimated damages supported by allegations of the unauthorized rollover of the customer’s existing unit investment trust into a…
Patrick Francis Walsh, of Westlake Village, California, a stockbroker currently registered with Morgan Stanley, is the subject of a customer initiated investment related arbitration claim, which settled for $156,000.00 in damages based upon allegations that between January of 2009 and November of 2015, Walsh effected trades in the customer’s account on an excessive basis relating…
Morgan Stanley Smith Barney LLC, a FINRA member brokerage firm, has been censured, fined $3,250,000.00, and agreed to pay $9,786,964.88 in restitution to customers by consenting to findings that Morgan Stanley failed to supervise a stockbrokers’ unit investment trust trades in the firm’s customer accounts. Letter of Acceptance, Waiver and Consent, No. 2016048805501 (Sept. 25,…
Elaine D. LaCerte, of Colorado Springs, Colorado, a stockbroker formerly registered with Morgan Stanley, has been fined $5,000.00 and suspended for six months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that she pursued a unit investment trust trading strategy that was unsuitable for customers….
Glenn Robert King, of Shrewsbury, New Jersey, a stockbroker formerly registered with Buckman, Buckman & Reid, Inc., has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity according to a National Adjudicatory Council Decision containing findings that King made unauthorized and excessive trades in a customer’s account. In the…
James S. Fleming III, of Worcester, Massachusetts, a stockbroker formerly registered with Investors Capital Corp., 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 effected unsuitable transactions in the customer’s account. Letter of Acceptance, Waiver…
Daniel Ian Stieff, of Westlake Village, California, a stockbroker registered with LPL Financial LLC, has been terminated from employment on November 5, 2015, based upon allegations that he traded mutual funds and short-term unit investment trust products in customer accounts in a manner which raised the company’s concerns for sales practice violations, and violated the…
Jeffrey Paul Dragon of Burlington, Massachusetts, a stockbroker formerly registered with Berthel, Fisher & Company Financial Services, Inc., has been charged by Financial Industry Regulatory Authority (FINRA) in a Complaint alleging that he effected unsuitable unit investment trust transactions in customer accounts. Department of Enforcement v. Jeffrey Paul Dragon, et al., No. 2014039169601 (Mar. 20, 2017)….
Anthony Vincent Ferrone, of Paramus, New Jersey, a stockbroker formerly registered with Ameriprise Financial Services, Inc., has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he failed to cooperate in an investigation into allegations of unsuitable trading in customer accounts. Letter of…
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 D. Maendel, of Farmington Hills, Michigan, a stockbroker formerly registered with LPL Financial LLC, has been fined $10,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he made misstatements on switch forms that were used to effect unit investment trust transactions….
Michael Fisher, of Melville, New York, a stockbroker formerly registered with Wells Fargo Advisors, LLC, has been named in a customer initiated investment related written complaint on April 12, 2017, in which the customer requested $171,172.10 in damages based upon allegations that he made misrepresentations to the customer regarding unit investment trusts. This is not…
Christopher Robert Hickman, of Delray Beach, Florida, a stockbroker formerly registered with Cetera Advisors LLC, has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he effected unsuitable unit investment trust trades in customer accounts. Letter of Acceptance, Waiver and…
Marc Harold Pearl, of Auburn, California, a stockbroker formerly registered with Wells Fargo Advisors, LLC, has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based on allegations that he failed provide FINRA staff with a response to their request for information relating to Pearl’s business activities. Letter No….
Anthony Joseph Verzi, of Melbourne, Florida, a stockbroker formerly registered with Morgan Stanley, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he failed to cooperate in a FINRA investigation into allegations of his unsuitable investment trading activities. Letter of Acceptance, Waiver…
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…
Douglas Lee Hodges, a stockbroker currently registered with Hilltop Securities Inc. and Hilltop Securities Independent Network Inc., has been subject of investigation conducted by Financial Industry Regulatory Authority (FINRA) into allegations that from April of 2012 to March of 2014, Hodges failed to supervise a registered representative’s activities involving unit investment trust and mutual fund…
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…
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,…
Harold S. Pomeranz, of Garden City, New York, a stockbroker formerly registered with Stifel, Nicolaus & Company, Inc., has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he made unsuitable investment recommendations to a customer. Letter of Acceptance, Waiver…
Nathan Thomas Koenig, of Perrysburg, Ohio, a stockbroker previously registered with The Huntington Investment Company, has been named in a customer initiated investment related written complaint on April 4, 2016, in which the customer requested $14,461.87 in damages based upon allegations that Koenig misrepresented a variable annuity, and omitted that the customer would forego guaranteed…
Richard Michael Gholson, of Pahoa, Hawaii, a principal formerly registered with Cuso Financial Services, L.P., has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he failed to supervise the suitability of unit investment trust recommendations made by the firm’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…
Mark Tauzin of Lafayette, Louisiana, a stockbroker formerly associated with LPL Financial LLC, was fined $20,000.00 and suspended for eight months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he effected unsuitable trades of unit investment trusts in customer accounts. Letter of Acceptance, Waiver and Consent,…
David Randall Lockey, of Dallas, Texas, a stockbroker formerly registered with SWS Financial Services, Inc., was fined $10,000.00 and suspended for six months from associating with any Financial Industry Regulatory Authority (FINRA) member, ordered to provide restitution of $5,329.75, and disgorged of $46,447.38 per a FINRA Order Accepting Offer of Settlement containing findings that Lockey…
Trustmont Financial Group, Inc., headquartered in Greensburg, Pennsylvania, was fined $100,000.00 by Financial Industry Regulatory Authority (FINRA) after consenting to findings that the firm, inter alia, did not properly supervise unit trusts transactions, and failed to adequately supervise consolidated reports which the firm distributed to customers. Letter of Acceptance, Waiver and Consent, No. 2014038914601 (Sept. 23,…
Investors Capital Corporation, headquartered in Lynnfield, Massachusetts, was censured and fined $250,000.00 by Financial Industry Regulatory Authority (FINRA) after consenting to findings that the firm engaged in the unsuitable recommendations of unit investment trusts and steepeners to customers. Letter of Acceptance, Waiver and Consent, No. 2010022046101 (Oct. 3, 2016). According to the AWC, between June of…
Richard Graham, of Lafayette, Indiana, a stockbroker registered with The Huntington Investment Company, was fined $10,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he made unsuitable investment recommendations to customers. Letter of Acceptance, Waiver and Consent, No. 2015046281401 (Sept. 29, 2016). According to…
Sigma Financial Corporation, headquartered in Ann Arbor, Michigan, was censured and fined $100,000.00 by Financial Industry Regulatory Authority (FINRA) after consenting to findings that it overcharged customers concerning their purchases of unit investment trusts, and for the firm’s failure to implement adequate supervisory procedures pertaining to sales charge discounts to ensure customers received them. Letter…
Summit Brokerage Services, Inc., headquartered in Boca Raton, Florida, was censured and fined $75,000.00 by the Financial Industry Regulatory Authority (FINRA) after consenting to findings that it overcharged customers regarding unit investment trust purchases, and failed to implement adequate supervisory procedures to prevent the overcharging of customers. Letter of Acceptance, Waiver and Consent, No. 2014041840301…
Newbridge Securities Corporation, headquartered in Boca Raton, Florida, was censured and fined $115,000.00 by Financial Industry Regulatory Authority (FINRA) after consenting to findings that the firm failed to apply sales charge discounts to eligible customers’ purchases of unit investment trusts (UITs); and failed to develop and manage supervisory practices and protocol to make sure eligible…
Glenn Robert King, of Shrewsbury, New Jersey, a stockbroker formerly with Royal Alliance, was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he fraudulently omitted and misrepresented material facts to investors, prompted excessive and unsuitable transactions, and committed unauthorized discretionary trading. Department of…
WFG Investments, Inc., headquartered in Dallas, Texas, was censured and fined $65,000.00 by the Financial Industry Regulatory Authority (FINRA) after consenting to findings that the firm failed to apply sales charge discounts to eligible customers’ purchases of unit investment trusts (UITs); and failed to develop and manage supervisory practices and protocol to make sure eligible…
Kovack Securities, Inc., headquartered in Fort Lauderdale, Florida, was censured and fined $125,000.00 by the Financial Industry Regulatory Authority (FINRA) for failing to apply sales charge discounts to eligible customers’ purchases of unit investment trusts, in addition to failing to develop and manage the requisite supervisory practices to ensure that eligible customers received sales charge…
Lance J. Ziesemer, of Wayzata, Minnesota, a stockbroker for Feltl & Company, was fined $7,500.00 and suspended for three months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he made unsuitable recommendations to customers. Letter of Acceptance, Waiver and Consent, No. 2013036524903 (May 12, 2016)….
David Michael Miller, of Columbus, Ohio, a stockbroker with Huntingdon Investment Company, was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity per an Office of Hearing Officers Default Decision containing findings that Miller engaged in unsuitable recommendations and negligent misrepresentations concerning customer accounts. Department of Enforcement v….
Feltl & Company Corporation, headquartered in Minneapolis, Florida, was censured and fined $250,000.00 by the Financial Industry Regulatory Authority (FINRA) for failing to apply sales charge discounts to eligible customers’ purchases of unit investment trusts; for failing to develop and manage the requisite supervisory practices to ensure eligible customers received sales charge discounts on UIT…
INVEST Financial Corporation, headquartered in Tampa, Florida, was censured and fined $175,000.00 by the Financial Industry Regulatory Authority (FINRA) for failing to apply sales charge discounts to eligible customers’ purchases of unit investment trusts; and for failing to develop and manage the appropriate supervisory practices to ensure eligible customers received sales charge discounts on UIT…
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…
RBC Capital Markets LLC, headquartered in New York, New York, was censured and fined $225,000.00 by the Financial Industry Regulatory Authority (FINRA) for failing to apply sales charge discounts to eligible customers’ purchases of unit investment trusts; and for failing to develop and manage the requisite supervisory practices to ensure eligible customers received sales charge…
Triad Advisors LLC, headquartered in Norcross, Georgia, was censured and fined $125,000.00 by Financial Industry Regulatory Authority (FINRA) for failing to apply sales charge discounts to eligible customers’ purchases of unit investment trusts; and failed to develop and adequately implement supervisory policies and procedures to ensure that such customers received sales charge discounts on all…
Lombard Securities Inc., headquartered in Baltimore, Maryland, was censured and fined $50,000.00 by Financial Industry Regulatory Authority (FINRA) pursuant to an Order Accepting Offer of Settlement containing findings that the firm committed supervisory violations pertaining to mutual fund switches, uniform investment trusts (UITs), and non-traditional exchange traded funds (ETFs); and failed to provide customers with…
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…
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;…
Jacob T. Turner of Orlando, Florida, a stockbroker with Cambridge Investment Research, Inc., was fined $5,000 and suspended for three months from associating with any Financial Industry Regulatory Authority (FINRA) member in any and all capacities after consenting to findings that he made unsuitable recommendations to customers. Letter of Acceptance, Waiver, and Consent, No. 2013036516301…
FTB Advisors, Inc., Inc. was censured and fined $125,000 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; as well as failing to establish, maintain and enforce a supervisory system and written supervisory procedures reasonably…
Woodbury Financial Services, Inc., of Oakdale, Minnesota, was censured and fined $100,000 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; as well as failing to establish, maintain and enforce a supervisory system and written…
Jeffrey L. Rittberger of New Concord, Ohio, a stockbroker associated with Huntington Investment Company, was fined $10,000 and suspended for forty-five days from association with any Financial Industry Regulatory Authority (FINRA) member in all capacities after consenting to findings that he made unsuitable recommendations to firm customers. Letter of Acceptance, Waiver and Consent, No. 2013036874902…
Royal Alliance Associates, Inc. was censured and fined $225,000 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; as well as failing to establish, maintain and enforce a supervisory system and written supervisory procedures reasonably…
Robert N. Adrian of Memphis, Tennessee, a registered representative with Stifel, Nicolaus & Company, was fined $5,000 and suspended for forty-five days from association with any Financial Industry Regulatory Authority (FINRA) member in all principal capacities after consenting to findings that he failed to supervise a registered representative in a manner designed to detect the…
David Michael Miller of Columbus, Ohio, a registered representative with Huntington Investment Company, was charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement in a Complaint alleging that Miller did not have reasonable grounds for believing his recommendations were suitable in purchases of unit investment trusts in one hundred and twenty-nine customer accounts. Department…
Glen Robert King of Shrewsbury, NJ, a registered representative with Buckman, Buckman & Reid, Inc., was charged by the Department of Enforcement of Financial Industry Regulatory Authority (FINRA) in a Complaint alleging that King made fraudulent misrepresentations to customers, engaged in excessive and unsuitable trading, and exercised discretion in accounts of customers without written authority….
ProEquities, Inc. was censured and fined $165,000 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; as well as failing to establish, maintain and enforce a supervisory system and written supervisory procedures reasonably designed to…
Jack Allen Scherbert of Sparks Nevada was barred by the Financial Industry Regulatory Authority or for life following his failure to cooperate, as required by FINRA Rules, in connection with its investigation that Scherbert made false guaranties regarding return of interest and principal to Wells Fargo Advisors customers in connection with the recommendation and sale…