Andre Krause of Woodbridge, New Jersey, a stockbroker registered with The Investment Center Inc., has been fined $10,000.00 and suspended for two months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because Krause mismarked trades to falsely indicate they were unsolicited or placed by the customers on their own initative…
Brian Arthur Salerno of Lake Mary, Florida, a stockbroker registered with CNR Securities LLC and investment advisor representative of City National Rochdale LLC, has been ordered to pay a fine of $45,500.00 by Florida Office of Financial Regulation because Salerno gave investment advice in Florida without being registered by the regulator. Case No. 116642-SR (October…
Brian Keith Jones of Pilot Grove, Iowa, a stockbroker registered with Cambridge Investment Research Inc., has been fined $5,000.00 and suspended for 45 days from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because Jones was “selling away.” Letter of Acceptance, Waiver, and Consent, No. 2023078431201 (March 27, 2024). According to…
Christopher Mack Watkins of Farmington, Utah, the President of Watkins Financial Services Inc. (WFS), has been fined $15,000.00 and suspended for two months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because Watkins charged unfair commissions to customers. Letter of Acceptance, Waiver, and Consent, No. 2021069366201 (March 28, 2024). According…
Craig Lee Carson (also known as C. Chance Carson), of Colorado Springs, Colorado, a stockbroker registered with Intervest International Equities Corporation, is the subject of a customer initiated investment related Financial Industry Regulatory Authority (FINRA) securities arbitration claim in which the customer requested $701,211.32 in damages based upon allegations that Carson breached his fiduciary duties,…
Daniel James Egbert (also known as Daniel James Egberg), of Raleigh, North Carolina, a stockbroker registered with UBS Financial Services Inc., was the subject of a customer initiated investment related Financial Industry Regulatory Authority (FINRA) securities arbitration claim that was settled for $160,000.00 in damages based upon allegations that Egbert failed to disclose selling restrictions…
Dax Aaron Seale (also known as Dax Seale), of Dallas, Texas, a stockbroker registered with Raymond James Associates Inc., was the subject of a customer initiated investment related civil action that was settled for $9,500.00 in damages based upon allegations that Seale engaged in unsuitable trading and “reverse churning,” when Seale was associated with Raymond…
Donald Jeffrey Dever (also known as Jeff Dever), of West Palm Beach, Florida, a stockbroker registered with UBS Financial Services Inc., was the subject of a customer initiated investment related complaint that was settled on September 1, 2023, for $94,373.73 in damages based upon allegations that Dever failed to follow the customer’s instructions regarding the…
Edward Dale McCombs of Whitehall, Michigan, a stockbroker registered with PNC Investments, is the subject of a customer initiated investment related complaint filed on October 12, 2023, in which the customer requested $26,120.95 in damages based upon allegations that McCombs did not correctly explain life insurance contract fees and features and had made the unsuitable…
Emily Jean Smith (also known as Emily Jean Hinton), of Vero Beach, Florida, a stockbroker registered with Raymond James Financial Services Inc., has been fined $5,000.00 and suspended for four months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because Smith reused customer signatures and altered customer documents. Letter of…
Jack W. Yvars of Concord, New Hampshire, a stockbroker registered with Osaic Wealth Inc., is the subject of a customer initiated investment related Financial Industry Regulatory Authority (FINRA) securities arbitration claim in which the customer requested $104,624.00 in damages based upon allegations that Yvars made the unsuitable investment recommendation of certain mutual funds when Yvars…
Jae Hun Kim (also known as J.H. Kim), of Cortlandt Manor, New York, a stockbroker registered with E1 Asset Management Inc., has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because Kim failed to provide the regulator with requested information and documents during an investigation into a customer…
James Brett Stuart of Castle Rock, Colorado, a stockbroker previously registered with Richfield Orion International Inc., was barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because he failed to create and implement a supervisory system designed to comply with securities laws and FINRA rules; he failed to supervise stockbrokers’…
Jason W. Wolter (also known as J.W. Wolter), of White Plains, New York, a stockbroker registered with J.P. Morgan Securities LLC, has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because Wolter exercised discretion without written authorization in the accounts of J.P. Morgan Securities customers….
John Jude Butler of Ocala, Florida, a stockbroker previously registered with Pruco Securities LLC, has been fined $5,000.00 and suspended for three months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because Butler engaged in outside business activities and failed to report related compensation from a Prudential customer. Letter of…
Michael Stephen Myers of Portland, Oregon, a stockbroker registered with LPL Financial LLC, was the subject of a customer initiated investment related complaint that was settled on August 9, 2022, for $15,000.00 in damages based upon allegations that Myers made unsuitable investment recommendations resulting in adverse tax consequences to the customer when Myers was associated…
Johnathan Paul Hagood, of Los Angeles, California, a stockbroker registered with Wells Fargo Clearing Services LLC, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because Hagood failed to respond to FINRA requests for information. FINRA Case No. 2023077635001 (January 8, 2024). On October 3, 2023, FINRA initiated…
Louis Joseph Pellegriti, of New York, New York, a stockbroker registered with Spartan Capital Securities LLC, was the subject of a customer initiated investment related Financial Industry Regulatory Authority (FINRA) securities arbitration claim that was settled for $500,000.00 in damages based upon allegations that Pellegriti breached his fiduciary duties, engaged in churning, made misrepresentations of…
Juan Manuel Ramos of Downey, California, a stockbroker registered with Centaurus Financial Inc., is the subject of a customer initiated investment related Financial Industry Regulatory Authority (FINRA) securities arbitration claim in which the customer requested $100,000.00 in damages based upon allegations that Ramos recommended illiquid real estate securities with declining values and high fees when…
Mark W. Manning, of Fishkill, New York, a stockbroker registered with LPL Financial LLC, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because Manning failed to comply with FINRA requests for documents and information in an investigation into a complaint. Letter of Acceptance, Waiver, and Consent, No….
Matthew James Chimento, of Alpharetta, Georgia, a stockbroker registered with Morgan Stanley, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because Chimento failed to cooperate with FINRA’s investigation into allegations that he transferred funds out of a customer’s account into an account for his benefit without customer…
Richard Glenn Shaw (also known as Rick Shaw), of Scottsdale, Arizona, a stockbroker registered with Lincoln Financial Advisors Corporation, is the subject of a customer initiated investment related Financial Industry Regulatory Authority (FINRA) securities arbitration claim in which the customer requested $25,000.00 in damages based upon allegations that Shaw made the unsuitable investment recommendation of certain…
Richard Lance Belline, of Rogers, Arkansas, a stockbroker registered with Equitable Advisors LLC, is the subject of a customer initiated investment related complaint filed on December 18, 2023, in which the customer requested $64,781.68 in damages based upon allegations that Belline overcharged advisory fees when Belline was associated with Equitable Advisors LLC. It is uncertain…
Robert Carl Ruff (also known as Bob Ruff), of Toledo, Ohio, a stockbroker registered with MML Investors Services LLC, was the subject of a customer initiated investment related complaint filed on July 20, 2023, in which the customer requested compensatory damages based upon allegations that Ruff made misrepresentations of material fact in connection with the…
Todd Arnold Havemeister, of Melbourne, Florida, a stockbroker formerly registered with Great Point Capital LLC, has been fined $10,000.00 and suspended for five months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because Havemeister made misleading communications to investors. Letter of Acceptance, Waiver, and Consent, No. 2022074921901 (March 19, 2024)….