Bradley Pottorf, of Vienna, Virginia, a stockbroker formerly associated with Wells Fargo Clearing Services was terminated on April 16, 2026, “after a review that included a failure to properly authenticate a client resulting in financial loss to the Firm.” Under the “Customer Protection Rule,” SEC Rule 15c3-3, a securities broker-dealer has exclusive responsibility with respect…
Philadelphia — The Guiliano Law Group, P.C. is lead counsel, and has recently filed several cases or claims before the Financial Industry Regulatory Authority or FINRA on behalf of several investors recently falling victim to sophisticated cyber-fraud, resulting in the losses of all or most of the investors’ life-savings. The cases are unrelated, but in…
TENNESSEE: August 30, 2024. The Guiliano Law Group filed an action before the Financial Industry Regulatory Authority against an “Internet Only” broker-dealer, an “Internet Only” bank affiliate, and its Clearing Firm for the failure to supervise, and the violation of The Electronic Funds Transfer Act and the SEC “Customer Protection Rule” for hacking and theft…
Ron Yehuda Itin, of Jersey City, New Jersey, the former president of E1 Asset Management Inc., has been suspended for three months from associating with any Financial Industry Regulatory Authority (FINRA) member in any principal capacity because Itin failed to create and maintain a supervisory system for purposes of identifying and preventing fraudulent fund transfers…
UBS Financial Services Inc., headquartered in Weehawken, New Jersey, has been censured and fined $850,000.00 by the Financial Industry Regulatory Authority (FINRA) because UBS failed to supervise certain representatives’ private securities transactions and failed to supervise transfers of customer funds to third parties. Letter of Acceptance, Waiver, and Consent No. 2021073037102 (July 8, 2024). The…
