Unsuitable Investment Recommendations

Archive | Unsuitable Investment Recommendations

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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Legend Securities Named In Securities Arbitration Claim By Investors For Churning

January 03, 2021  |   Posted by :   |   Boilerroom Sales, Churning, Excessive Trading, FINRA Securities Arbitration, Investment and Regulatory News, Unsuitable Investment Recommendations   |   Comments Off on Legend Securities Named In Securities Arbitration Claim By Investors For Churning

Anthony Fusco of New York New York a former stockbroker and Chief Executive Officer of Legend Securities Inc. is the subject of a customer initiated investment related FINRA securities arbitration claim in which the customer requested $345,369.00 in damages supported by accusations of Fusco failing to supervise Legend stockbrokers who executed unsuitable transactions in the […]

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Investors File FINRA Securities Arbitration Claim Against Wells Fargo

January 03, 2021  |   Posted by :   |   Investment and Regulatory News, Selling Away and Outside Activities, Unsuitable Investment Recommendations   |   Comments Off on Investors File FINRA Securities Arbitration Claim Against Wells Fargo

John William Hoekman of New York New York a stockbroker formerly registered with Wells Fargo Advisors LLC is referenced in a customer initiated investment related FINRA securities arbitration claim where the customer sought between $100,000.00 and $500,000.00 in compensatory or punitive damages based upon accusations of unsuitable over-the-counter equities being recommended for the customer’s investment […]

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Investors File Securities Arbitration Claim Against Merrill Lynch For Misrepresentation

December 22, 2020  |   Posted by :   |   Excessive Trading, FINRA Securities Arbitration, Investment and Regulatory News, Unsuitable Investment Recommendations, Variable Annuites   |   Comments Off on Investors File Securities Arbitration Claim Against Merrill Lynch For Misrepresentation

Francisco Javier Valenzuela of Tucson Arizona a stockbroker formerly registered with Merrill Lynch Pierce Fenner Smith Incorporated is the subject of a customer initiated investment related arbitration claim where the customer requested $500,000.00 in damages founded on allegations that investment recommendations made to the customer were not suitable and that misrepresentations had been made by […]

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American Portfolios Stockbroker Barred In Investigation

December 22, 2020  |   Posted by :   |   FINRA Securities Arbitration, Investment and Regulatory News, Over Concentration, Unsuitable Investment Recommendations   |   Comments Off on American Portfolios Stockbroker Barred In Investigation

Robert James Halldin (also known as Bob Halldin) of Newington Connecticut a stockbroker formerly registered with American Portfolios Financial Services has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that he obstructed a FINRA investigation into allegations of his misconduct as referenced by complaints and […]

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Former Morgan Stanley Stockbroker Barred By FINRA For Bilking Customers

December 22, 2020  |   Posted by :   |   Bond Fraud, Excessive Markups, Excessive Trading, Investment and Regulatory News, Unsuitable Investment Recommendations   |   Comments Off on Former Morgan Stanley Stockbroker Barred By FINRA For Bilking Customers

Stephen Sloane of New York New York a stockbroker formerly registered with WestPark Capital Inc. and Morgan Stanley has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on a Decision issued by FINRA’s Office of Hearing Officers who found that Sloane made unsuitable investment recommendations to customers […]

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Investors Accuse Wells Fargo Of Failure To Execute Orders

December 22, 2020  |   Posted by :   |   Failure To Supervise, FINRA Securities Arbitration, Investment and Regulatory News, Unsuitable Investment Recommendations   |   Comments Off on Investors Accuse Wells Fargo Of Failure To Execute Orders

Jeffrey Lamar Burton of Charleston South Carolina a supervising stockbroker of Wells Fargo Advisors Financial Network is referenced in a customer initiated investment related written complaint which was settled for $100,000.00 on September 17, 2020 founded on allegations that trades failed to be made according to the customer’s instructions while Burton was registered with Wells […]

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FINRA Sanctions Cadaret Grant Stockbroker For Twisting Annuity Policies

December 22, 2020  |   Posted by :   |   Investment and Regulatory News, Unsuitable Investment Recommendations   |   Comments Off on FINRA Sanctions Cadaret Grant Stockbroker For Twisting Annuity Policies

Timothy James Pandekakes of Yonkers New York a stockbroker formerly registered with Cadaret Grant Co. has been suspended for three months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that he gave unsuitable investment advice to customers of Cadaret Grant. Letter of Acceptance Waiver and Consent No. […]

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Merrill Lynch Stockbroker Barred For Unsuitable ETF Trading

December 22, 2020  |   Posted by :   |   Excessive Trading, FINRA Securities Arbitration, Inverse/Leveraged ETF Funds, Investment and Regulatory News, Unsuitable Investment Recommendations   |   Comments Off on Merrill Lynch Stockbroker Barred For Unsuitable ETF Trading

Charles Ernest Kenahan of Boston Massachusetts a stockbroker formerly registered with Merrill Lynch Pierce Fenner Smith has been barred by New Hampshire Department of State Bureau of Securities Regulation founded on accusations of Kenahan making unsuitable investment recommendations to a customer of Merrill Lynch. Consent Order No. COM2019-000 (Dec. 7, 2020). According to the Order, […]

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Madison Avenue Stockbroker Sanctioned For Providing Unsuitable Investment Advice

December 07, 2020  |   Posted by :   |   Investment and Regulatory News, Mutual Fund Fraud, Unsuitable Investment Recommendations   |   Comments Off on Madison Avenue Stockbroker Sanctioned For Providing Unsuitable Investment Advice

Vincent Anthony Virga (also known as Vincenzo A. Virga Jr.) of Bayonne New Jersey a stockbroker and investment adviser representative of Madison Avenue Securities LLC has been fined $5,000.00 and suspended for one month from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that Virga made unsuitable investment […]

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More Victims File FINRA Securities Arbitration Claim Against Spartan Capital

December 07, 2020  |   Posted by :   |   Boilerroom Sales, FINRA Securities Arbitration, Investment and Regulatory News, Unsuitable Investment Recommendations   |   Comments Off on More Victims File FINRA Securities Arbitration Claim Against Spartan Capital

John Joseph Stapleton of Garden City New York a stockbroker currently registered with Spartan Capital Securities is the subject of a customer initiated investment related arbitration claim in which the customer sought $25,445.00 in damages supported by accusations that the customer received unsuitable investment recommendations and had purchased securities that were misrepresented while Stapleton was […]

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Investors File FINRA Securities Arbitration Claim Against GMS Group

December 07, 2020  |   Posted by :   |   Investment and Regulatory News, Unsuitable Investment Recommendations   |   Comments Off on Investors File FINRA Securities Arbitration Claim Against GMS Group

David Bruce Korostoff of Jersey City New Jersey a stockbroker and investment adviser representative of The GMS Group LLC is the subject of a customer initiated investment related arbitration claim where the customer sought $92,000.00 in damages founded on allegations that the customer had been sold municipal debt investments in January of 2018 which were […]

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Investors Bring Securities Arbitration Claim Against Morgan Stanley For Misrepresentation

December 07, 2020  |   Posted by :   |   FINRA Securities Arbitration, Investment and Regulatory News, Unsuitable Investment Recommendations   |   Comments Off on Investors Bring Securities Arbitration Claim Against Morgan Stanley For Misrepresentation

Keith Allen Bryan of Sarasota Florida a stockbroker formerly registered with Morgan Stanley is the subject of a customer initiated investment related arbitration claim which was resolved for $24,900.00 in damages supported by accusations of misrepresentations being made by the stockbroker concerning the customer’s Morgan Stanley investments. Financial Industry Regulatory Authority (FINRA) Arbitration No. 19-00735 […]

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Investors Accuse Wells Fargo Of Unsuitable Trading

December 01, 2020  |   Posted by :   |   Securities Arbitration Claims, Unsuitable Investment Recommendations   |   Comments Off on Investors Accuse Wells Fargo Of Unsuitable Trading

David Michael Logsdon of Hailey Idaho a stockbroker and investment adviser representative of Wells Fargo Clearing Services is referenced in a customer initiated investment related written complaint which was settled for $20,000.00 on July 22, 2020 supported by allegations that investments selected for the customer’s Wells Fargo portfolio failed to be suitable and resulted in […]

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Investors Bring FINRA Arbitration Claim Against Hilliard Lyons For Unsuitable Recommendations

November 30, 2020  |   Posted by :   |   FINRA Securities Arbitration, Investment and Regulatory News, Securities Arbitration Claims, Unsuitable Investment Recommendations   |   Comments Off on Investors Bring FINRA Arbitration Claim Against Hilliard Lyons For Unsuitable Recommendations

Michael B. Barnett of Nashville Tennessee a stockbroker formerly registered with JJB Hilliard WL Lyons is the subject of a customer initiated investment related arbitration claim which was settled for $130,000.00 in damages based upon allegations that the customer had been sold unsuitable Breitburn Energy investments and that a contract between the customer and Hilliard […]

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Morgan Stanley Accused Of Unsuitable Bond Recommendations

November 30, 2020  |   Posted by :   |   FINRA Securities Arbitration, Investment and Regulatory News, Unsuitable Investment Recommendations   |   Comments Off on Morgan Stanley Accused Of Unsuitable Bond Recommendations

Anthony Edward Dacruz of New York New York a stockbroker currently registered with Morgan Stanley has been referenced in a customer initiated investment related written complaint on April 14, 2020 where the customer sought unspecified damages founded on allegations that the customer had been placed into unsuitable closed end funds and municipal bonds by Dacruz […]

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Investors Bring FINRA Arbitration Claim Against Dawson James

November 30, 2020  |   Posted by :   |   FINRA Securities Arbitration, Investment and Regulatory News, Unsuitable Investment Recommendations   |   Comments Off on Investors Bring FINRA Arbitration Claim Against Dawson James

Marc Scott Steinberg of Boca Raton Florida a stockbroker formerly registered with Dawson James Securities has been referenced in a customer initiated investment related arbitration claim which was settled for $18,000.00 in damages based upon allegations that investment recommendations were not suitable and that the customer sustained losses on stock transactions executed by Steinberg at […]

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Investors Accuse SunTrust Of Providing Unsuitable Investment Advice

November 30, 2020  |   Posted by :   |   FINRA Securities Arbitration, Investment and Regulatory News, Unsuitable Investment Recommendations   |   Comments Off on Investors Accuse SunTrust Of Providing Unsuitable Investment Advice

Raul Jorge Benitez of Aventura Florida a stockbroker formerly registered with SunTrust Investment Services Inc. has been referenced in a customer initiated investment related written complaint which was resolved for $8,486.24 on March 11, 2019 founded on allegations that the customer had been provided with unsuitable investment advice by Benitez concerning a managed investment account. […]

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Larson Financial Securities Accused Of The Recommendationof Unsuitable Investments

November 30, 2020  |   Posted by :   |   FINRA Securities Arbitration, Investment and Regulatory News, Securities Fraud, Unsuitable Investment Recommendations, Variable Annuites   |   Comments Off on Larson Financial Securities Accused Of The Recommendationof Unsuitable Investments

Jeffrey Scott Larson of Saint Louis Missouri a stockbroker formerly registered with Larson Financial Securities LLC is the subject of a customer initiated investment related written complaint on September 15, 2020 where the customer requested more than $10,000.00 in estimated damages founded on allegations that the customer had been inappropriately placed into a variable life […]

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Professional Financial Advisors Accused Of Unauthorized Fund Purchases

November 04, 2020  |   Posted by :   |   Securities Arbitration Claims, Unsuitable Investment Recommendations   |   Comments Off on Professional Financial Advisors Accused Of Unauthorized Fund Purchases

Douglas De Wayne Peterson (also known as Doug Peterson) of North Platte Nebraska a stockbroker formerly employed by Sagepoint Financial Inc. and investment adviser representative of Professional Financial Advisors is referenced in a customer initiated investment related written complaint which was resolved for $12,895.52 on March 31, 2020 based upon accusations that the customer’s investment […]

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Investors Accuse Merrill Lynch Of Providing Defective Investmment Advice

November 04, 2020  |   Posted by :   |   Securities Arbitration Claims, Unsuitable Investment Recommendations   |   Comments Off on Investors Accuse Merrill Lynch Of Providing Defective Investmment Advice

Mark David Yadron (also known as Mark Lynn Yoder) of Prescott Arizona a stockbroker formerly registered with Merrill Lynch Pierce Fenner Smith Incorporated is referenced in a customer initiated investment related written complaint on October 2, 2020 in which the customer sought unspecified damages supported by allegations that investment recommendations made by Yadron at Merrill […]

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Gould Ambroson Sued By Investors For Fraud

November 04, 2020  |   Posted by :   |   Securities Arbitration Claims, Securities Fraud, Unsuitable Investment Recommendations   |   Comments Off on Gould Ambroson Sued By Investors For Fraud

Jay Allan Ambroson of Garden City New York a stockbroker formerly registered with Gould Ambroson Associates Inc. is referenced in a customer initiated investment related arbitration claim which was resolved for $525,000.00 in damages founded on accusations of conversion and the breach of a fiduciary duty by Ambroson which caused the customer’s losses. Financial Industry […]

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FINRA Sanctions Network 1 Stockbroker For Churning

November 04, 2020  |   Posted by :   |   Churning, Excessive Trading, Securities Arbitration Claims, Unsuitable Investment Recommendations   |   Comments Off on FINRA Sanctions Network 1 Stockbroker For Churning

Donatas Belys Vildzius (also known as Donatas Vildzins and as Donatus Vildzins) of Danbury Connecticut a stockbroker formerly employed by Network 1 Financial Securities Inc. has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that Vildzius executed excessive trades in customer accounts […]

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Investors Bring FINRA Arbitration Claims Against Lucia Securities For Misrepresentation

November 04, 2020  |   Posted by :   |   Non-traded REITs, Securities Arbitration Claims, Unsuitable Investment Recommendations   |   Comments Off on Investors Bring FINRA Arbitration Claims Against Lucia Securities For Misrepresentation

Scot Samuel Fairchild (also known as Scott Samuel Fairchild) of Henderson Nevada and San Diego California a stockbroker formerly registered with Lucia Securities LLC is referenced in a customer initiated investment related arbitration claim where the customer requested $214,335.00 in damages supported by allegations that Nevada securities laws had been violated in reference to Fairchild’s […]

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Investors Sue Morgan Stanley For Unsuitable Sale of Energy Securities

November 04, 2020  |   Posted by :   |   Securities Arbitration Claims, Unsuitable Investment Recommendations   |   Comments Off on Investors Sue Morgan Stanley For Unsuitable Sale of Energy Securities

Kirk J. Gill of Tucson Arizona a stockbroker formerly employed by Morgan Stanley Smith Barney is referenced in a customer initiated investment related arbitration claim in which the customer requested $238,316.00 in damages founded on allegations that the customer was sold unsuitable energy sector securities between December of 2013 and March of 2016 during the […]

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FINRA Bars NPB Stockbroker For Fraudulent REIT Sales

November 04, 2020  |   Posted by :   |   Non-traded REITs, Securities Arbitration Claims, Securities Fraud, Unsuitable Investment Recommendations   |   Comments Off on FINRA Bars NPB Stockbroker For Fraudulent REIT Sales

Cynthia Diane Cowden (also known as Cynthia Case) of Lake Isabella California a stockbroker formerly registered with NPB Financial Group LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings that Cowden made unsuitable investment recommendations to investors and failed to be forthcoming with FINRA […]

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America Northcoast CCO Barred For Aiding Stockbroker’s Fraud

November 04, 2020  |   Posted by :   |   Inverse/Leveraged ETF Funds, Securities Arbitration Claims, Securities Fraud, Unauthorized Trading, Unsuitable Investment Recommendations   |   Comments Off on America Northcoast CCO Barred For Aiding Stockbroker’s Fraud

Christopher Richard Barone of Houston Texas the President and Chief Compliance Officer of America Northcoast Securities Inc. has been fined $60,000.00 and barred by Securities and Exchange Commission (SEC) from being a stockbroker or investment adviser representative or otherwise associating with securities broker dealers or investment advisories based upon findings that Barone caused unsuitable and […]

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Investors Bring Arbitration Claims Against Coastal Equities For Alternative Investments

October 08, 2020  |   Posted by :   |   Alternative Investments, Securities Arbitration Claims, Unsuitable Investment Recommendations   |   Comments Off on Investors Bring Arbitration Claims Against Coastal Equities For Alternative Investments

Luke Michael Johnson of Scottsdale Arizona a stockbroker formerly registered with Coastal Equities Inc. and investment adviser representative of Coastal Investment Advisers is identified in a customer initiated investment related arbitration claim where the customer sought $100,000.00 in damages supported by accusations that the customer received unsuitable alternative investment recommendations from Johnson in 2016 in […]

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