Unsuitable Investment Recommendations

Archive | Unsuitable Investment Recommendations

Ausdal Financial Accused Of Unsuitable Recommendations

March 31, 2021  |   Posted by :   |   Investment and Regulatory News, Non-traded REITs, Unsuitable Investment Recommendations   |   Comments Off on Ausdal Financial Accused Of Unsuitable Recommendations

Daniel Ernest Davis (also known as Danny Davis) of Louisville Kentucky a stockbroker currently registered with Ausdal Financial Partners Inc. is the subject of a customer initiated investment related written complaint on February 21, 2020 in which the customer requested $92,707.00 in damages founded on accusations of Davis making unsuitable investment recommendations to the customer concerning […]

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Investors File Securities Arbitration Claim Against First Allied Securities

March 31, 2021  |   Posted by :   |   Alternative Investments, Breach of Fiduciary Duty, Business Development Companies, Failure To Supervise, FINRA Securities Arbitration, Investment and Regulatory News, Unsuitable Investment Recommendations   |   Comments Off on Investors File Securities Arbitration Claim Against First Allied Securities

Jeffrey Guy Labelle (also known as Jeff Labelle) of Sarasota Florida a stockbroker formerly registered with First Allied Securities is referenced in a customer initiated investment related FINRA securities arbitration claim in which the customer requested $150,000.00 in damages founded on accusations that the customer’s First Allied Securities account had been negligently supervised and that […]

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JP Morgan Stockbroker Sanctioned For Unauthorized Trading

March 31, 2021  |   Posted by :   |   FINRA Securities Arbitration, Investment and Regulatory News, Unauthorized Trading, Unsuitable Investment Recommendations   |   Comments Off on JP Morgan Stockbroker Sanctioned For Unauthorized Trading

Trevor Bradner Rahn of Los Angeles California a stockbroker formerly registered with JP Morgan Securities LLC has been fined $10,000.00 and suspended for 18 months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that Rahn made unsuitable recommendations and unauthorized trades when he was associated with JP […]

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GF Investment Services Accused Of Unauthorized Transactions

March 31, 2021  |   Posted by :   |   FINRA Securities Arbitration, Investment and Regulatory News, Unsuitable Investment Recommendations   |   Comments Off on GF Investment Services Accused Of Unauthorized Transactions

Mark Scordato of Parsippany New Jersey a stockbroker formerly registered with GF Investment Services is referenced in a customer initiated investment related written complaint on April 29, 2020 where the customer sought $34,000.00 in damages supported by accusations of a fixed insurance product being purchased without the customer’s authorization when Scordato was associated with GF […]

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Investors File Securities Arbitration Claim Against UBS For Misrepresentation

March 31, 2021  |   Posted by :   |   Alternative Investments, FINRA Securities Arbitration, Hedge Funds, Investment and Regulatory News, Unsuitable Investment Recommendations   |   Comments Off on Investors File Securities Arbitration Claim Against UBS For Misrepresentation

Jeremy Seidman of Boston Massachusetts a stockbroker currently registered with UBS Financial Services Inc. is referenced in a customer initiated investment related FINRA securities arbitration claim where the customer sought $6,500,000.00 in damages supported by accusations that the customer had been recommended an unsuitable options overlay strategy by Seidman between 2016 and 2019 when he […]

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Investors File Securities Arbitration Claim Against AIGS For Suitability

March 31, 2021  |   Posted by :   |   FINRA Securities Arbitration, Investment and Regulatory News, Unsuitable Investment Recommendations   |   Comments Off on Investors File Securities Arbitration Claim Against AIGS For Suitability

Thomas Joseph Logue Jr. of Hinsdale Illinois a stockbroker formerly registered with American Independent Securities Group LLC (AIGS) is referenced in a customer initiated investment related FINRA securities arbitration claim which was settled for $450,000.00 in damages founded on allegations that the customer had been placed into unsuitable asset-backed debt investments during the time that […]

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Kovack Securities Accused Of Unsuitable Trading

March 31, 2021  |   Posted by :   |   FINRA Securities Arbitration, Investment and Regulatory News, Non-traded REITs, Unsuitable Investment Recommendations   |   Comments Off on Kovack Securities Accused Of Unsuitable Trading

Gerald James O’Halloran of Punta Gorda Florida a stockbroker formerly registered with Kovack Securities Inc. is the subject of a customer initiated investment related written complaint which was settled for $24,000.00 in damages on May 29, 2020 based upon allegations that the customer had been placed into unsuitable real estate securities and stocks by O’Halloran […]

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Investors File Securities Arbitration Claim Against Aegis For Unsuitable Trading

March 31, 2021  |   Posted by :   |   Breach of Fiduciary Duty, FINRA Securities Arbitration, Investment and Regulatory News, Unsuitable Investment Recommendations   |   Comments Off on Investors File Securities Arbitration Claim Against Aegis For Unsuitable Trading

Gregory Spencer O’Brien of New York New York a stockbroker formerly registered with Aegis Capital Corp. is referenced in a customer initiated investment related FINRA securities arbitration claim where the customer sought $153,300.00 in damages founded on accusations that the customer had been placed into poorly performing investments between 2013 and 2019 during the period […]

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Morgan Stanley Stockbroker Sanctioned For Customer Complaints

March 31, 2021  |   Posted by :   |   FINRA Securities Arbitration, Investment and Regulatory News, Unsuitable Investment Recommendations   |   Comments Off on Morgan Stanley Stockbroker Sanctioned For Customer Complaints

Jonathan William Lonske of Boston Massachusetts a stockbroker formerly registered with Morgan Stanley has been issued a Consent Order by Massachusetts Securities Division which requires Lonske to be placed on heightened supervision based on allegations that he was the subject of customer initiated investment related complaints and was terminated from a securities broker dealer for […]

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Investors File Arbitration Claim Against Madison Avenue Securities

March 31, 2021  |   Posted by :   |   FINRA Securities Arbitration, Investment and Regulatory News, Non-traded REITs, Unsuitable Investment Recommendations   |   Comments Off on Investors File Arbitration Claim Against Madison Avenue Securities

James Andrew Geake (also known as Jim Geake) of Skokie Illinois a stockbroker currently registered with Madison Avenue Securities LLC is the subject of a customer initiated investment related written complaint on November 5, 2020 in which the customer requested compensatory damages founded on accusations that unsuitable investment recommendations had been made by Geake causing […]

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Westlake Stockbroker Charged With Making Unsuitable Recommendations

March 18, 2021  |   Posted by :   |   FINRA Securities Arbitration, Investment and Regulatory News, Non-traded REITs, Unsuitable Investment Recommendations   |   Comments Off on Westlake Stockbroker Charged With Making Unsuitable Recommendations

Megurditch Mike Patatian (also known as Mike Patatian) a stockbroker formerly registered with Westlake International Securities Inc. has been charged by Financial Industry Regulatory Authority (FINRA) with making unsuitable recommendations of real estate investment trusts to customers of Western International Securities. Department of Enforcement v. Megurditch Patatian Disciplinary Proceeding No. 2018057235801 (Feb. 26, 2021). According […]

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David Lerner Of David Lerner Accused Of Unsuitable Trading

March 18, 2021  |   Posted by :   |   Breach of Fiduciary Duty, FINRA Securities Arbitration, Investment and Regulatory News, Unsuitable Investment Recommendations   |   Comments Off on David Lerner Of David Lerner Accused Of Unsuitable Trading

Daniel Todd Lerner of White Plains New York a stockbroker currently registered with David Lerner Associates Inc. is referenced in a customer initiated investment related written complaint on January 22, 2021 where the customer requested $100,000.00 in damages supported by accusations that they had been placed into unsuitable mutual funds and direct investments when the […]

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Investors File FINRA Arbitration Claim Against Newbridge For Unsuitable Trading

March 18, 2021  |   Posted by :   |   FINRA Securities Arbitration, Investment and Regulatory News, Securities Fraud, Unsuitable Investment Recommendations   |   Comments Off on Investors File FINRA Arbitration Claim Against Newbridge For Unsuitable Trading

Gerald John Cocuzzo (also known as Jerry Cocuzzo) of Boca Raton Florida a stockbroker formerly registered with Newbridge Securities Corporation is referenced in a customer initiated investment related FINRA securities arbitration claim where the customer requested $208,287.00 in damages based upon allegations of unsuitable stock trading by Cocuzzo while he was registered with Newbridge Securities […]

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Investors File Securities Arbitration Claim Against Citigroup For Misrepresentation

March 18, 2021  |   Posted by :   |   FINRA Securities Arbitration, Investment and Regulatory News, Unsuitable Investment Recommendations   |   Comments Off on Investors File Securities Arbitration Claim Against Citigroup For Misrepresentation

Timothy Trevor Kenska of Rye New York a stockbroker currently registered with Citigroup Global Markets is the subject of a customer initiated investment related FINRA securities arbitration claim where the customer requested $150,000.00 in damages founded on allegations of misrepresentations and omissions by Kenska concerning transactions executed in the customer’s Citigroup Global Markets individual retirement […]

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Investors File Arbitration Claim Against Investors Capital Corp Sued For Unsuitable Recommendations

March 08, 2021  |   Posted by :   |   FINRA Securities Arbitration, Investment and Regulatory News, Unsuitable Investment Recommendations   |   Comments Off on Investors File Arbitration Claim Against Investors Capital Corp Sued For Unsuitable Recommendations

James A. Franklin (also known as Jim Franklin) of Houston Texas a stockbroker formerly registered with Investors Capital Corp. is the subject of a customer initiated investment related FINRA securities arbitration claim in which the customer sought more than $5,000.00 in compensatory damages founded on accusations that his investment recommendations were not suitable for the […]

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Investors File Securities Arbitration Claim Against Kalos Capital Over Alternative Investments

March 08, 2021  |   Posted by :   |   Alternative Investments, FINRA Securities Arbitration, Investment and Regulatory News, Non-traded REITs, Unsuitable Investment Recommendations   |   Comments Off on Investors File Securities Arbitration Claim Against Kalos Capital Over Alternative Investments

Joseph Patrick Roop (also known as Joe Pat Roop) of Belmont North Carolina a stockbroker formerly registered with Kalos Capital Inc. is referenced in a customer initiated investment related FINRA securities arbitration claim which was settled for $25,000.00 in damages based upon accusations that the customer received unsuitable investment recommendations from Roop concerning real estate […]

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Investors File Arbitration Claim Against LPL For Unsuitable Investments

February 16, 2021  |   Posted by :   |   Alternative Investments, FINRA Securities Arbitration, Investment and Regulatory News, Non-traded REITs, Unsuitable Investment Recommendations   |   Comments Off on Investors File Arbitration Claim Against LPL For Unsuitable Investments

Kevin Douglas Houser of Allentown Pennsylvania a stockbroker and investment adviser representative of LPL Financial is the subject of a customer initiated investment related FINRA securities arbitration claim in which the customer sought $358,000.00 in damages supported by accusations that the customer had been provided unsuitable investment recommendations regarding business development companies and real estate […]

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LPL Sued By Investors For Unsuitable Trading

February 16, 2021  |   Posted by :   |   FINRA Securities Arbitration, Investment and Regulatory News, Over Concentration, Unsuitable Investment Recommendations   |   Comments Off on LPL Sued By Investors For Unsuitable Trading

Kevin Marshall McCallum of Birmingham Alabama a stockbroker formerly registered with LPL Financial LLC is the subject of a customer initiated investment related FINRA securities arbitration claim in which the customer sought $4,800,000.00 in damages based upon allegations of the stockbroker making unsuitable trades involving closed end funds during the period that he was registered […]

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Great Nation Stockbroker Barred In Chruch Bond Investigation

February 16, 2021  |   Posted by :   |   Investment and Regulatory News, Unsuitable Investment Recommendations   |   Comments Off on Great Nation Stockbroker Barred In Chruch Bond Investigation

David Arthur Jenson of Amarillo Texas a stockbroker formerly registered with Great Nation Investment Corporation has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings that he neglected to cooperate with a FINRA investigation concerning his potential unsuitable church bond recommendations to customers. Letter of Acceptance […]

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Merrill Lynch Sued By Investors For Misrepresentation

February 16, 2021  |   Posted by :   |   FINRA Securities Arbitration, Investment and Regulatory News, Unsuitable Investment Recommendations   |   Comments Off on Merrill Lynch Sued By Investors For Misrepresentation

Debra Rae Lambert of The Villages Florida a stockbroker formerly registered with Merrill Lynch Pierce Fenner Smith is the subject of a customer initiated investment related FINRA securities arbitration claim which was settled for $42,500.00 in damages supported by accusations that misrepresentations had been made by the stockbroker and that her investment recommendations were not […]

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Wells Fargo Accused Of Failure To Follow Instructions

February 16, 2021  |   Posted by :   |   FINRA Securities Arbitration, Investment and Regulatory News, Unsuitable Investment Recommendations   |   Comments Off on Wells Fargo Accused Of Failure To Follow Instructions

John Perrin Kellar of Fort Lauderdale Florida a stockbroker and investment adviser representative of Wells Fargo Advisors Financial Network LLC is the subject of a customer initiated investment related complaint on April 6, 2020 in which the customer sought more than $5,000.00 in damages founded on allegations that they were placed into unsuitable investments by […]

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Investors File Arbitration Claim Against LPL Financial

February 16, 2021  |   Posted by :   |   Alternative Investments, FINRA Securities Arbitration, Investment and Regulatory News, Unsuitable Investment Recommendations   |   Comments Off on Investors File Arbitration Claim Against LPL Financial

Maryanne Virginia Bessler of Lynbrook New York a stockbroker currently registered with LPL Financial LLC is the subject of a customer initiated investment related FINRA securities arbitration claim where the customer requested $158,086.56 in damages founded on allegations that the customer had been advised by Bessler to invest in alternative investments and annuities when those […]

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Investors Sue Investacorp For Unsuitable REIT Sales

February 16, 2021  |   Posted by :   |   Business Development Companies, FINRA Securities Arbitration, Investment and Regulatory News, Non-traded REITs, Unsuitable Investment Recommendations   |   Comments Off on Investors Sue Investacorp For Unsuitable REIT Sales

William Franklin Richardson Jr. (also known as Frank Richardson Jr.) of Houston Texas a former stockbroker and investment adviser representative of Investacorp has been referenced in a customer initiated investment related FINRA securities arbitration claim where the customer requested unspecified damages founded on accusations that they had been sold unsuitable business development company products and […]

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Spencer-Winston Stockbroker Investigated By FINRA

February 01, 2021  |   Posted by :   |   Churning, Excessive Trading, Investment and Regulatory News, Unauthorized Trading, Unsuitable Investment Recommendations   |   Comments Off on Spencer-Winston Stockbroker Investigated By FINRA

Ezri Shechter (also known as Eddie Shechter) of Jersey City New Jersey a stockbroker registered with Spencer-Winston Securities Corporation is referenced in a Financial Industry Regulatory Authority (FINRA) investigation on June 17, 2020 in which Shechter’s activities with a customer are being reviewed for possible FINRA violations. FINRA Case No. 20190646958. FINRA Public Disclosure confirms […]

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FINRA Bars Aegis Stockbroker For Churning

February 01, 2021  |   Posted by :   |   Boilerroom Sales, Churning, Investment and Regulatory News, Unauthorized Trading, Unsuitable Investment Recommendations   |   Comments Off on FINRA Bars Aegis Stockbroker For Churning

Steven Robert Luftschein (also known as Steven Lerner) a stockbroker formerly registered with Aegis Capital Corp has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member according to an Order Accepting Offer of Settlement issued by FINRA Office of Hearing Officers who found that Luftschein had churned customers’ accounts and had made […]

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Cantella Accused By Investors Of Unsuitable Investment Recommendations

January 19, 2021  |   Posted by :   |   FINRA Securities Arbitration, Investment and Regulatory News, Unsuitable Investment Recommendations   |   Comments Off on Cantella Accused By Investors Of Unsuitable Investment Recommendations

David Thomas Pawloski of Red Bank New Jersey a stockbroker currently registered with Cantella Co. Inc. is the subject of a customer initiated investment related written complaint on April 9, 2020 in which the customer requested $16,000.00 in damages based upon allegations of the customer being sold poorly performing stocks by Pawloski during the period […]

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FINRA Sanctions Ameriprise Stockbroker For Sale of Unsuitable Investments

January 19, 2021  |   Posted by :   |   FINRA Securities Arbitration, Investment and Regulatory News, Mutual Fund Fraud, Unsuitable Investment Recommendations   |   Comments Off on FINRA Sanctions Ameriprise Stockbroker For Sale of Unsuitable Investments

Angel Wynette Bardeche (also known as Angel Wynette Lentz) of Cincinnati Ohio a stockbroker formerly registered with Ameriprise Financial 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 founded on findings that Bardeche made unsuitable recommendations to customers concerning a short-term […]

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Ausdal Financial Accused Of Unsuitable Investment Recommendations

January 03, 2021  |   Posted by :   |   Investment and Regulatory News, Ponzi Schemes, Securities Fraud, Unsuitable Investment Recommendations   |   Comments Off on Ausdal Financial Accused Of Unsuitable Investment Recommendations

Richard Guy Duncan (also known as Rick Duncan) of East Longmeadow Massachusetts an investment adviser representative of Ausdal Financial Partners Inc. is the subject of a customer initiated investment related written complaint on July 20, 2020 where the customer requested $405,045.00 in damages based upon allegations that the customer had been placed into unsuitable securities […]

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Investors Accuse RBC Capital Of Unsuitable Stock Recommendations

January 03, 2021  |   Posted by :   |   FINRA Securities Arbitration, Investment and Regulatory News, Unsuitable Investment Recommendations   |   Comments Off on Investors Accuse RBC Capital Of Unsuitable Stock Recommendations

David Kallman Paton of Saint Paul Minnesota a stockbroker and investment adviser representative of RBC Capital Markets LLC is referenced in a customer initiated investment related written complaint on June 25, 2020 in which the customer requested $38,000.00 in damages based upon accusations that the customer had been placed in stocks including SSYS and CGIZX […]

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FINRA Sanctions LPL Stockbroker For Selling Away

January 03, 2021  |   Posted by :   |   Investment and Regulatory News, Selling Away and Outside Activities, Unsuitable Investment Recommendations   |   Comments Off on FINRA Sanctions LPL Stockbroker For Selling Away

Michael Anthony Tavel of Indianapolis Indiana a stockbroker formerly registered with LPL Financial LLC has been fined $20,000.00 and suspended for 18 months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings of Tavel selling away from LPL Financial and making unsuitable investment recommendations while registered with the […]

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