John H. Klaasen IV, of Hayden Lake, Idaho, a stockbroker registered with Merrill Lynch Pierce Fenner Smith Incorporated, was the subject of a customer initiated investment related complaint filed on September 29, 2023. The customer requested compensatory damages based upon allegations that Klaasen supposedly failed to follow instructions regarding the purchase of certain securities from…
Mark Alan Lezanic, of Wayne, Pennsylvania, a stockbroker registered with Merrill Lynch Pierce Fenner Smith Incorporated, was the subject of a customer initiated investment related complaint filed on December 14, 2023. The customer requested $10,132.94 in damages based upon allegations that Lezanic was not acting in the customer’s best interest in 2023, given the commissions…
Paul Kai Addo III, of Denver, Colorado, a stockbroker registered with UBS Financial Services Inc., is the subject of a customer initiated investment related complaint filed on September 29, 2023. The customer requested compensatory damages based upon allegations that Addo failed to follow instructions regarding the purchase of market-linked investments or structured products from January…
William Worthen King (also known as Bill King), of Vero Beach, Florida, a stockbroker registered with Merrill Lynch Pierce Fenner Smith Incorporated, is the subject of a customer initiated investment related complaint filed on November 26, 2023, in which the customer requested compensatory damages based upon allegations that King engaged in unauthorized trading in options…
Donald Depiro (also known as Don Depiro), of Riviera Beach, Florida, a stockbroker registered with Merrill Lynch Pierce Fenner Smith Inc., was the subject of a customer initiated investment related complaint filed on August 9, 2021, in which the customer requested $25,000.00 in damages based upon allegations that Depiro engaged in unauthorized trading in equities…
Mark Edward Jones, of Denver Colorado, a stockbroker associated with Merrill Lynch Pierce Fenner Smith Incorporated, was the subject of a customer initiated investment related complaint that was settled on June 5, 2020, for $70,026.00 in damages based upon allegations that Jones made misrepresentations and omissions of material fact when Jones was associated with Merrill…
Melissa Plotkin Spickler (also known as Melissa P. Plotkin and Melissa P. Pott), of Bloomfield Hills, Michigan, a stockbroker associated with Merrill Lynch Pierce Fenner Smith Incorporated, was the subject of a customer initiated investment related complaint that was settled on October 20, 2022, for $32,402.18 in damages based upon allegations that Spickler failed to…
John James Forster, of Washington, DC, a stockbroker associated with Merrill Lynch Pierce Fenner Smith Incorporated, was the subject of a customer initiated investment related Financial Industry Regulatory Authority (FINRA) securities arbitration claim in which the customer requested $272,000.00 in damages based upon allegations that Forster failed to act in the customer’s best interest and…
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,…
Philip Scott Bradshaw of San Diego, California, a stockbroker registered with Merrill Lynch Pierce Fenner Smith Inc., was the subject of a customer initiated investment related complaint filed on February 13, 2023, in which the customer requested compensation based upon allegations that Bradshaw made misrepresentations of material fact in connection with the sale of mutual funds…
Robert Spencer Gerstein of New York, New York, a stockbroker registered with Merrill Lynch Pierce Fenner Smith Inc., has been fined $5,000.00 and suspended for six months by FINRA because Gerstein engaged in the unsuitable short term trading of mutual funds during the time that he was associated with Merrill Lynch. Letter of Acceptance, Waiver,…
Jason Ryan Jaynes of Frisco, Texas, a stockbroker registered with Merrill Lynch Pierce Fenner Smith Inc., was the subject of a customer initiated investment related FINRA securities arbitration claim that was settled for $2,850,000.00 in damages based upon allegations that Jaynes made misrepresentations of material fact and made unsuitable recommendations of commodities when Jaynes was…
Andrew Raskin of Palm Beach Gardens, Florida, a stockbroker registered with Merrill Lynch Pierce Fenner Smith Incorporated, was the subject of a customer initiated investment related Financial Industry Regulatory Authority (FINRA) securities arbitration claim that was settled for $32,500.00 in damages based upon allegations that Raskin made unsuitable investment recommendations during the time that Raskin…
Blake Wayne Eskew of Atlanta, Georgia, a stockbroker registered with Merrill Lynch Pierce Fenner Smith Inc., has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because Eskew failed to testify during the time that FINRA investigated the stockbroker for possible violations of FINRA rules. Letter of Acceptance, Waiver,…
Mark David Yadron (also known as Mark Lynn Yoder), of Prescott, Arizona, a stockbroker registered with Merrill Lynch Pierce Fenner Smith Incorporated, was the subject of a customer initiated investment related complaint that was settled on November 24, 2020, for $4,986.71 in damages based upon allegations that Yadron made unsuitable recommendations of mutual funds during…
Kerry Thomas Cassell of Charlotte, North Carolina, a stockbroker registered with Merrill Lynch Pierce Fenner Smith Inc., was the subject of a customer initiated investment related complaint filed on February 2, 2022, seeking damages based upon allegations that Cassell made misrepresentations of material fact in connection with the recommendation and sale of variable annuities when…
Jason Eugene Tarver of Frisco, Texas, a stockbroker registered with Merrill Lynch Pierce Fenner Smith Inc., was the subject of a customer initiated investment related FINRA securities arbitration claim that was settled for $2,000,000.00 in damages based upon allegations that Tarver used an unsuitable investment strategy involving a line of credit when Tarver was associated…
Alicia M. Hinojosa Gutierrez (also known as Alicia Myrthala Hinojosa and A. M. Hinojosa Gutierrez), of New York, New York, a stockbroker registered with Merrill Lynch Pierce Fenner Smith Inc., was discharged on April 29, 2021, based upon allegations that she made unapproved financial arrangements with a customer and used unauthorized means to communicate with…
Joshua David Nicholas (also known as Josh Nicholas), of Stuart, Florida, a stockbroker registered with Merrill Lynch Pierce Fenner Smith Inc., has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because Nicholas converted a customer’s funds and engaged in private securities transactions. Case No. 2020067572701 (Jan. 24, 2022)….
Stephen Patrick Tosha of Dallas, Texas, a stockbroker currently registered with Merrill Lynch Pierce Fenner Smith Incorporated, is the subject of a customer initiated investment related complaint on February 25, 2022, in which the customer requested compensatory damages based upon allegations that Tosha engaged in unauthorized trading in connection with the sale of foreign securities…
Ernest Grey Frerking (also known as Ernie Frerking) of Austin, Texas, a stockbroker formerly registered with Merrill Lynch Pierce Fenner Smith Incorporated, has been barred from associating with any FINRA member in any capacity based upon allegations that Frerking failed to cooperate in a FINRA investigation. Letter of Acceptance Waiver and Consent No. 2020067267701 (Aug….
Richard Aloysius Hogan of San Francisco, California, a stockbroker formerly registered with Merrill Lynch Pierce Fenner Smith Incorporated, has been fines and suspended by FINRA for the unapproved sale or referral of a customer to a hedge fund. Letter of Acceptance Waiver and Consent No. 2019064715701. According to the AWC, from October 2017 to August…
Doug Marshall McKelvey of Southlake, Texas, 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 accusations that McKelvey refused to cooperate with a FINRA investigation into allegations of McKelvey’s possible misappropriation and unauthorized transactions. Letter of Acceptance, Waiver, and…
Conrad Kenneth Branson of Mill Valley, California, a stockbroker formerly registered with Merrill Lynch Pierce Fenner Smith Incorporated, 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 of Branson’s unauthorized trading in customer accounts during the time that he was associated…
Juan Guillermo Herrans Barreras of Miami, Florida, a stockbroker formerly registered with Merrill Lynch, is the subject of a customer initiated investment related FINRA securities arbitration claim which was resolved for $70,000.00 in damages because Barreras allegedly made misrepresentations and unsuitable investment recommendations in connection with the sale of mutual funds during the period that…
Gary Begnaud of Mount Laurel, New Jersey, a stockbroker formerly registered with Merrill Lynch Pierce Fenner Smith, is identified in a FINRA securities arbitration claim in which the customer seeks unknown compensatory damages based upon the alleged unauthorized trading of mutual funds some two years earlier in 2020 while Begnaud was associated with Merrill Lynch….
Heather Peterson Weber (also known as Heather Adrienne Weber) of Clearwater, Florida, a stockbroker currently registered with Merrill Lynch Pierce Fenner Smith Incorporated, is referenced in a customer initiated investment related FINRA securities arbitration claim which was resolved for $125,000.00 in damages based upon allegations that Weber made misrepresentations and provided unsuitable investment recommendations during…
Bradford Eric Bugher, of Wilmington, Delaware, a stockbroker currently registered with Merrill Lynch Pierce Fenner Smith Incorporated, is the subject of a customer initiated investment related FINRA securities arbitration claim where the customer requested unspecified damages supported by accusations of Bugher’s failure to “follow instructions” relating to the customer’s common and stock transactions between November…
Joshua David Nicholas, of Stuart, Florida, a stockbroker formerly registered with Merrill Lynch Pierce Fenner Smith Incorporated, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that Nicholas converted a customer’s funds when he was associated with Merrill Lynch. Letter of Acceptance, Waiver, and Consent…
William Walter LeBoeuf (also known as Bill LeBoeuf), of Beavercreek, Ohio, a stockbroker formerly registered with Cetera Advisor Networks LLC and Merrill Lynch Pierce Fenner Smith Inc., has been fined $12,500.00 and suspended for twelve months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings that he engaged…
Alexander Steven Batt, of Vero Beach, Florida, a stockbroker formerly registered with Merrill Lynch Pierce Fenner Smith, is referenced in a customer initiated investment related written complaint that was settled for $51,678.00 in damages on January 21, 2020, founded on accusations of unauthorized trading involving a private equity fund when Batt was associated with Merrill…
Steven Michael Richardson, of Walnut Creek, California, a stockbroker formerly registered with Merrill Lynch Pierce Fenner Smith Inc., is the subject of a customer initiated investment related written complaint which was settled for $320,000.00 in damages on October 11, 2019, based upon accusations of Richardson’s excessive trading of exchange-traded funds for the customer’s account while…
Hector J. Gonzalez (also known as Hector Gonzalez Colon) of Miami Florida a stockbroker formerly registered with Merrill Lynch Pierce Fenner Smith Inc. is referenced in a customer initiated investment related FINRA securities arbitration claim where the customer requested $3,000,000.00 in damages founded upon accusations of Gonzalez misrepresenting municipal bonds when he was registered with…
Ryan Ashley Raskin of Beverly Hills California a stockbroker formerly registered with Merrill Lynch Pierce Fenner Smith Incorporated has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that he failed to comply with FINRA’s investigation focusing on his alleged unsuitable investment recommendations while he was…
Joseph Ijong Chu of Stamford Connecticut a stockbroker currently registered with RBC Capital Markets LLC is the subject of a customer initiated investment related FINRA securities arbitration claim in which the customer sought $1,000,000.00 in damages founded on accusations that unsuitable energy securities were recommended by Chu when he was associated with RBC Capital Markets….
Scott Geoffrey Madison of Riverhead New York a stockbroker formerly registered with Merrill Lynch Pierce Fenner Smith Incorporated has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that he failed to cooperate with FINRA’s investigation into why Merrill Lynch terminated his registration as stockbroker. Letter…
Sonia Balfour-Fears (also known as Sonia Delores Balfour and as Sonia D. Fears) of Atlanta Georgia a stockbroker formerly registered with Merrill Lynch Pierce Fenner Smith Incorporated is the subject of a customer initiated investment related FINRA securities arbitration claim where the customer sought compensatory damages founded on accusations that Balfour-Fears made misrepresentations to the…
Cristiano Tempo Castellini of Beverly Hills California a stockbroker formerly registered with Merrill Lynch Pierce Fenner Smith Inc. is referenced in a customer initiated investment related written complaint on February 9, 2021 in which the customer requested compensatory damages based upon accusations that Castellini effected unauthorized trades in the customer’s account during the period that…
Christopher Lee Hibbard (also known as Chris Hibbard) of Louisville Kentucky a stockbroker formerly registered with Merrill Lynch Pierce Fenner Smith Incorporated has been barred as stockbroker and as investment adviser representative according to a Securities and Exchange Commission (SEC) Order based on findings of Hibbard committing fraud. In the Matter of Christopher Lee Hibbard…
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…
Gary Begnaud of Mount Laurel New Jersey a stockbroker formerly registered with Merrill Lynch Pierce Fenner Smith inc. is the subject of a customer initiated investment related written complaint on September 3, 2020 in which the customer alleged that Begnaud effected unauthorized mutual fund trades between March 22, 2020 and March 23, 2020 resulting in…
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…
Joel Lansat of Palm Beach Gardens Florida a stockbroker currently registered with Merrill Lynch Pierce Fenner Smith Incorporated is the subject of a customer initiated investment related written complaint on April 9, 2020 in which the customer sought compensatory damages based upon accusations that unauthorized trades were effected in the customer’s Merrill Lynch investment account…
Marcus E. Boggs of Chicago Illinois a stockbroker formerly registered with Merrill Lynch Pierce Fenner Smith Incorporated is referenced in a customer initiated investment related FINRA securities arbitration claim which was resolved for $44,731.77 in damages on October 21, 2020 founded on accusations of “unauthorized charges” in the customer’s account during the time that Boggs…
Jeffrey William Fitz of Short Hills New Jersey a stockbroker formerly registered with Merrill Lynch Pierce Fenner Smith Incorporated is the subject of a customer initiated investment related written complaint on June 5, 2020 where the customer sought compensatory damages founded on accusations that misrepresentations had been made to the customer by Fitz concerning investment…
Charles Ernest Kenahan of Boston Massachusetts a stockbroker formerly registered with Merrill Lynch Pierce Fenner Smith Incorporated has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that he failed to cooperate with FINRA investigators regarding his sales practices. Letter of Acceptance Waiver and Consent No….
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…
Tyler Dean Delahunt of Atlanta Georgia a stockbroker formerly registered with Merrill Lynch has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings that he failed to provide documents and information to FINRA when it investigated him for outside business activities and private securities transactions. Letter…
Rawad Roy Alame (also known as Roy Rawad Alame) of Raleigh North Carolina a stockbroker formerly registered with Merrill Lynch Pierce Fenner Smith Incorporated has been fined $5,000.00 and suspended for six months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings of Alame selling away when he…
Frank Howard Zito of Ridgeland Mississippi a stockbroker formerly registered with Merrill Lynch Pierce Fenner Smith has been fined $10,000.00 and suspended for 16 months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that Zito engaged in private securities transactions and outside business activities while registered with…
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…
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,…
Roberto Alejandro Fernandez of Miami Florida a stockbroker currently registered with Merrill Lynch Pierce Fenner Smith Incorporated is referenced in a customer initiated investment related arbitration claim which was settled for $160,000.00 in damages founded on allegations that the customer received unsuitable investment advice and had been sold government debt investments that were misrepresented. Financial…
John Patrick Donnelly of Houston Texas a stockbroker currently employed by Merrill Lynch is referenced in an investment related civil action in which unspecified damages were alleged supported by accusations of Donnelly failing to adjust the customer’s retirement account resulting in unintended beneficiaries receiving assets from a customer’s Merrill Lynch account. Civil Action No. 477195-401…
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…
Douglas William Stopkey of Richmond Virginia a stockbroker formerly registered with Merrill Lynch Pierce Fenner Smith has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based on findings that he effected unauthorized trades in customer accounts while registered with Merrill Lynch. Letter of Acceptance Waiver and Consent No….
Kevin Joseph Schaefer of San Francisco California a stockbroker and investment adviser representative of Merrill Lynch Pierce Fenner Smith Incorporated is the subject of a customer initiated investment related arbitration claim in which the customer requested $1,000,000.00 in damages supported by accusations of Schaefer making misrepresentations and providing unsuitable investment advice with respect to the…
Giustino DeStefano (also known as Justin Antonio DeStefano) of Williamsville New York a stockbroker formerly employed by Merrill Lynch and Securities America is the subject of a customer initiated investment related arbitration claim which was settled for $485,000.00 in damages supported by allegations of elder abuse and the violation of California Securities Act. Financial Industry…
Jose Giraldo (also known as Tomas Giraldo) of Chula Vista California a stockbroker formerly registered with Merrill Lynch Pierce Fenner Smith has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon accusations that Giraldo neglected to cooperate with FINRA’s request for his information following the point in…
Christopher Allan Swan of Irving Texas a stockbroker formerly registered with BBT Securities LLC is the subject of a customer initiated investment related civil action brought in the District Court of Dallas County Texas in which the customer requested $23,000.00 in damages based upon allegations that 529 accounts and other custodial accounts had been set…
Sylvester Knox of Short Hills New Jersey a stockbroker formerly employed by Merrill Lynch Pierce Fenner Smith has been fined $10,000.00 and suspended for nine months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings that Knox engaged in unauthorized trades in Merrill Lynch customer accounts. Letter of…
Omar Waleed Hammad-Randolph of Boca Raton Florida a stockbroker formerly registered with Merrill Lynch Pierce Fenner Smith Incorporated has been fined $10,000.00 and suspended for five months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings that Hammad-Randolph borrowed from a customer of the securities broker dealer without…
Kurt Anthony Stein of New York New York a stockbroker formerly employed by National Securities Corporation has been identified in a customer initiated investment related arbitration claim where the customer sought $35,000.00 in damages founded on accusations that misrepresentations were made to the customer by Stein concerning direct participation program interests or limited partnership interests…
Scott Geoffrey Madison of Riverhead New York a stockbroker currently employed by Merrill Lynch Pierce Fenner Smith has been identified in a customer initiated investment related arbitration claim where the customer sought $600,000.00 damages founded on accusations that between December 27, 2017 and September of 2019, over-the-counter equities recommendations failed to be suitable for the…
Jacquin P. Fink of New York New York a stockbroker formerly associated with Merrill Lynch has been referenced in a customer initiated investment related arbitration claim in which the customer requested $43,434.00 in damages supported by allegations that common and preferred stock recommendations failed to be suitable during the period in which Fink was employed…
Cynthia Ann Perry of Salisbury Maryland a stockbroker formerly associated with Merrill Lynch 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 altered signed Merrill Lynch customer documents to create accounts and effect transactions. Letter of Acceptance…
Juan Guillermo Herrans Barreras of Miami Florida a stockbroker currently registered with Merrill Lynch Pierce Fenner Smith Incorporated is the subject of a customer initiated investment related arbitration claim in which the customer requested $800,000.00 in damages based upon allegations that misrepresentations had been made to the customer regarding mutual funds and that the customer…
Cristiano Tempo Castellini of Beverly Hills California a stockbroker currently associated with Merrill Lynch Pierce Fenner Smith Incorporated has been referenced in a customer initiated investment related written complaint on April 16, 2020 in which the customer requested unspecified damages supported by allegations that the customer’s instructions had not been followed by the stockbroker between…
Merrill Lynch a securities broker dealer headquartered in New York New York has been censured by Financial Industry Regulatory Authority (FINRA) founded on findings that Merrill Lynch overcharged customers on mutual fund transactions. Letter of Acceptance Waiver and Consent No. 2017053494401 (June 4, 2020). According to the AWC, between April of 2011 and April of…
Richard Sica of Ridgefield Connecticut a stockbroker currently registered with Merrill Lynch Pierce Fenner Smith Incorporated is the subject of a customer initiated investment related written complaint on March 30, 2020 in which the customer requested unspecified damages based upon allegations that the customer’s investment instructions were not followed by Sica in March of 2020…
Bernard George Adair (also known as Bernie Adair) of Old Greenwich Connecticut a stockbroker employed by Merrill Lynch Pierce Fenner Smith Incorporated has been identified in a customer initiated investment related arbitration claim where the customer sought $550,000.00 in damages founded on accusations that misrepresentations were made about investing and that the customer had been…
Marcus E. Boggs of Chicago Illinois a stockbroker registered with Merrill Lynch Pierce Fenner Smith Incorporated has been barred from being a stockbroker or investment adviser representative or associating with securities broker dealers or investment advisories based upon a Securities and Exchange Commission (SEC) Order based upon allegations of Boggs stealing $1.7 million investor funds….
Hector J. Gonzalez (also known as Hector Gonzales Colon) of Miami Florida a stockbroker currently employed by Merrill Lynch Pierce Fenner Smith Incorporated has been identified in a customer initiated investment related arbitration claim where the customer sought $3,000,000.00 in damages founded on accusations that (1) investment recommendations were unsuitable in view of the customer’s…
Mark David Yadron (also known as Mark Lynn Yoder) of Scottsdale Arizona a stockbroker currently associated with Merrill Lynch Pierce Fenner Smith Incorporated has been referenced in a customer initiated investment related complaint on September 24, 2019 in which the customer requested $129,584.00 in damages supported by allegations that in November of 2018, unsuitable investment…
Zachary Scott Wagner of Gilbert Arizona a stockbroker formerly registered with OneAmerica Securities Inc. and Merrill Lynch has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that Wagner failed to comply with a FINRA investigation into allegations of his (1) engagement in outside business activities…
Christopher Lee Hibbard (also known as Chris Hibbard) of Louisville Kentucky a stockbroker formerly registered with Merrill Lynch Pierce Fenner Smith Incorporated is the subject of a customer initiated investment related complaint which has been resolved on October 24, 2019 for $175,000.00 in damages based upon accusations that (1) the customer was poorly advised (2)…
Johnathan Rankin of Dallas Texas a stockbroker registered with Merrill Lynch Pierce Fenner Smith Incorporated has been terminated by the securities broker dealer on September 18, 2019 based upon allegations that the stockbroker violated the securities broker dealer’s policies and procedures because he solicited investments without authorization and had failed to comply with Merrill Lynch’s…
Dario Alberto Ochoa of Guaynabo Puerto Rico a stockbroker registered with Merrill Lynch Pierce Fenner Smith Incorporated is referenced in a customer initiated investment related arbitration claim where the customer requested $210,000.00 in damages based upon accusations that (1) investment recommendations made by the stockbroker were unsuitable for the customer in view of the customer’s…
James Robert Schaedler Jr. of Anaheim California a stockbroker formerly employed by Merrill Lynch Pierce Fenner Smith Inc. and Wells Fargo Clearing Services LLC is referenced in a customer initiated investment related arbitration claim in which the customer sought $964,872.23 in damages based upon accusations that funds provided to Schaedler for the customer’s mutual fund…
David Robert Feigelman of Stowe Vermont a stockbroker currently registered with Merrill Lynch Pierce Fenner Smith is referenced in a customer initiated investment related complaint on February 16, 2018 in which the customer requested damages estimated to exceed $5,000.00 supported by accusations that unauthorized exchange traded fund trades were effected in the customer’s Merrill Lynch…
Frank Howard Zito of Ridgeland Mississippi a stockbroker formerly registered with Merrill Lynch Pierce Fenner Smith Incorporated has been sanctioned by the Office of the Mississippi Secretary of State Securities Division according to a Consent Order containing findings that (1) Zito engaged in private securities transactions during the time that he was associated with Merrill…
Christopher Charles Hellman of Boca Raton Florida a stockbroker formerly employed by Merrill Lynch Pierce is referenced in a customer initiated investment related written complaint which was settled for $187,672.90 on June 12, 2019 based upon accusations that between July 3, 2018 and September 19, 2018, misrepresentations had been made by the stockbroker concerning the…
Christopher Allan Swan of Marble Falls Texas a stockbroker formerly registered with Merrill Lynch Pierce Fenner Smith Incorporated is the subject of a customer initiated investment related complaint on July 30, 2019 where the customer requested $16,571.62 in damages founded on allegations that the customer’s investment instructions failed to be followed as it pertained to…
Arturo Rexach Mundo of Guaynabo Puerto Rico a stockbroker currently registered with Merrill Lynch Pierce Fenner Smith is the subject of a customer initiated investment related arbitration claim where the customer sought $7,000,000.00 in damages supported by accusations that (1) misrepresentations had been made concerning government debt investments and (2) investment recommendations made by the…
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…
Timothy Revell Roberson of Brentwood Tennessee a stockbroker currently registered with Merrill Lynch Pierce Fenner Smith Incorporated is the subject of a customer initiated investment related written complaint on February 14, 2019 in which the customer requested unspecified damages supported by allegations that unfounded statements had been made by Roberson in December of 2018 with…
Ma Rosa Linan Abrego (also known as Marosa Linan) of McAllen Texas a stockbroker formerly registered with Merrill Lynch Pierce Fenner Smith Incorporated has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that Abrego refused to comply with FINRA’s requests while being investigated for allegedly…
Robert Thomas Steck of Great Neck New York a stockbroker currently registered with Merrill Lynch Pierce Fenner Smith Incorporated is the subject of a customer initiated investment related arbitration claim which was resolved for $160,000.00 in damages based upon allegations that fees relating to over-the-counter equities transactions had not been disclosed (2) misrepresentations were made…
Charles Ernest Kenahan of Boston Massachusetts a stockbroker formerly registered with Merrill Lynch Pierce Fenner Smith Incorporated has been discharged by the securities broker dealer on July 9, 2019 supported by accusations that (1) unauthorized trades were executed in a customer’s account by Kenahan (2) investment recommendations made by the stockbroker failed to be suitable…
Richard Bruce Sladek (also known as Dick Sladek) of Coeur D’Alene Idaho a stockbroker formerly employed by Merrill Lynch Pierce Fenner Smith incorporated is referenced in a customer initiated investment related arbitration claim where the customer requested unspecified damages founded on accusations of false or misleading statements in regard to real estate securities or investments…
Christopher David Sadaka of Jupiter Florida a stockbroker currently employed by Merrill Lynch Pierce Fenner Smith Incorporated is referenced in a customer initiated investment related arbitration claim where the customer sought unspecified damages supported by accusations that between May of 2014 and March of 2017: (1) false or misleading statements had been made concerning oil…
Edward Louis Barger of Miami Florida a stockbroker formerly employed by Morgan Stanley is the subject of a customer initiated investment related arbitration claim which was settled for $92,500.00 in damages based upon accusations of the customer being sold bad over-the-counter equities, closed-end funds and common and preferred stocks. FINRA Arbitration No. 17-02301 (Oct. 23,…
Lorenzo C. Esteva of Miami Florida a stockbroker formerly registered with Merrill Lynch Pierce Fenner Smith Inc. is the subject of a customer initiated investment related arbitration claim which was settled for $225,000.00 in damages supported by allegations that (1) omissions and unfounded statements had been made to the customer concerning the terms and conditions…
Fred Ronald Brown Jr. of Montgomery Alabama a stockbroker formerly registered with Merrill Lynch Pierce Fenner Smith Inc. has been fined $12,500.00 and suspended for ten months from associating with any FINRA member in any capacity based upon allegations that (1) Brown took possession of customers’ funds through an unapproved customer loan arrangement and (2)…
Patrick Neal Foley of Ontario California a stockbroker formerly employed by Merrill Lynch Pierce Fenner Smith Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Foley failed to cooperate with FINRA during an investigation into accusations of Foley taking possession of…
Fred Ronald Brown Jr. of Montgomery Alabama a stockbroker formerly registered with Merrill Lynch Pierce Fenner Smith Incorporated is the subject of a customer initiated investment related written complaint which had been resolved for $55,000.00 on January 8, 2018 founded on allegations that the customer was solicited for purposes of a loan where the customer’s…
Kyung Soo Kim of Katy Texas a stockbroker formerly registered with Merrill Lynch Pierce Fenner Smith 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 Kim engaged in outside business activities without having notified Merrill Lynch during the…
Michael Ross Highfill of Ridgeland Mississippi a stockbroker formerly employed by Merrill Lynch Pierce Fenner Smith Incorporated is referenced in a customer initiated investment related complaint which was resolved on June 22, 2016 for $215,000.00 in damages supported by accusations that (1) Highfill inappropriately steered the customer towards loaning Highfill funds in connection with an…
Steven Michael Richardson of Walnut Creek California a stockbroker formerly employed by Merrill Lynch Pierce Fenner Smith Inc. is referenced in a customer initiated investment related written complaint on April 11, 2019 in which the customer requested unspecified damages based upon accusations that between January 1, 2018 and June 7, 2018, excessive exchange traded fund…
Michael Milad Tanha (also known as Mikey Tanha) of Beverly Hills California a stockbroker formerly registered with Merrill Lynch Pierce Fenner Smith Incorporated has been fined $15,000.00 and suspended for ten months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that (1) Tanha engaged in…
Michael John Ahearn of Yardley Pennsylvania a stockbroker formerly employed by Merrill Lynch Pierce Fenner Smith Incorporated has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity according to an Order Accepting Offer of Settlement containing findings that Ahearn lied to FINRA during the course of a FINRA investigation…
Derek David Rosenberg of Las Vegas Nevada a stockbroker formerly registered with Merrill Lynch Pierce Fenner Smith Incorporated is referenced in a customer initiated investment related arbitration claim which was settled for $70,000.00 in damages based upon allegations that misrepresentations had been made to the customer concerning municipal debt investments selected for the customer’s account…
Jacquin P. Fink of New York New York a stockbroker formerly registered with Merrill Lynch Pierce Fenner Smith Incorporated is the subject of a customer initiated investment related arbitration claim in which the customer requested $3,581,198.00 in damages supported by accusations of bad investment recommendations being made to the customer concerning (1) over-the-counter equities (2)…
John Joseph Birkhauser of Lake Forest Illinois a stockstockbroker currently employed by Merrill Lynch Pierce Fenner Smith Incorporated is referenced in a customer initiated investment related arbitration claim which was settled for $10,000.00 in damages founded on allegations that (1) misrepresentations had been made concerning the terms or risks of the limited partnership interests sold…
Bradford E. Bugher of Wilmington Delaware a stockbroker currently registered with Merrill Lynch Pierce Fenner Smith Incorporated is referenced in a customer initiated investment related written complaint on December 19, 2018 where the customer requested unspecified damages supported by allegations that between November 19, 2018 and December 19, 2018, while Bugher was associated with Merrill…
Gregory Dehrmann Miseyko of Boca Raton Florida a stockbroker associated with Merrill Lynch Pierce Fenner Smith Incorporated is the subject of a customer initiated investment related written complaint which was settled on January 14, 2019 to resolve accusations that the customer’s assets were placed in inappropriate investments within the customer’s managed accounts. Financial Industry Regulatory…
Jonathan Rafe Rankin (also known as Jonathan Rafe Ranlein) a stockbroker and supervisor currently registered with Merrill Lynch Pierce Fenner Smith Inc. is the subject of a customer initiated investment related written complaint on November 8, 2017 in which the customer requested damages estimated to exceed $5,000.00 founded on accusations that misrepresentations and omissions had…
Menard Sanford Schwartz of Chicago Illinois a stockbroker currently registered with Merrill Lynch Pierce Fenner Smith Incorporated is the subject of a customer initiated investment related written complaint which settled for $61,883.00 on January 10, 2017 founded on accusations that investment recommendations made to the customer were not suitable concerning over-the-counter equities held in their…
Raj Sharma of Boston Massachusetts a stockbroker currently registered with Merrill Lynch Pierce Fenner Smith Incorporated is the subject of a customer initiated investment related arbitration claim in which the customer requested $70,000.00 in damages founded on accusations that (1) misrepresentations and omissions had been made to the customer from January of 2012 to January…
William Bruckner of Boca Raton Florida a stockbroker formerly employed by Merrill Lynch has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings that Bruckner mismarked customer order tickets by claiming that the transactions were not solicited when they were actually solicited by…
Bhenoy Dembla (also known as Ben Dembla) of Chicago Illinois a stockbroker formerly employed by Merrill Lynch Pierce Fenner Smith Incorporated has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Dembla violated the firm’s mutual fund policies by entering and cancelling fake…
Adriane L Cagle of Peachtree City Georgia a stockbroker formerly employed by Merrill Lynch Pierce Fenner Smith Inc. has been fined $5,000.00 and suspended for two months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Cagle altered customer account documents without authorization. Letter of…
Joseph Bert Feldman of Virginia Beach Virginia 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 based upon consenting to findings that he misrepresented his involvement in a customer’s trust specifically…
Kai Chong Cheng of New York New York a stockbroker formerly employed by Merrill Lynch Pierce Fenner Smith Inc. and investment adviser representative and president of Affinity Capital Management LLC has been fined $10,000.00 and suspended for five years from registering as an investment advisor according to a New Jersey Bureau of Securities Administrative Consent…
Merrill Lynch Pierce Fenner Smith Inc. a brokerage firm headquartered in New York New York has been censured and fined $300,000.00 by Financial Industry Regulatory Authority (FINRA) based upon the firm’s consent to findings that it failed to supervise a registered representative who defrauded a customer of the firm. Letter of Acceptance Waiver and Consent…
Laura Anne Parker of Austin Texas a stockbroker formerly registered with Merrill Lynch Pierce Fenner Smith Inc. has been discharged from the firm on September 23, 2016 supported by accusations that she neglected to inform her firm about an outside business activity that she had engaged in while associated with the firm. Financial Industry Regulatory…
Patrick Thomas Golden of Charlotte North Carolina a stockbroker formerly registered with Merrill Lynch Pierce Fenner Smith has been fined $15,000.00 and suspended for twenty months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that (1) Golden engaged in private securities (2) Golden engaged in…
John Richard Henderson of Sarasota Florida a stockbroker formerly currently with Merrill Lynch Pierce Fenner Smith Inc. is referenced in a customer initiated investment related written complaint on September 6, 2016 where the customer requested unspecified damages founded on allegations that unauthorized over-the-counter equities trades were effected in the customer’s account. Financial Industry Regulatory Authority…
Brad Roger Nettune of Summit New Jersey a stockbroker currently registered with Merrill Lynch Pierce Fenner Smith Inc. is the subject of a customer initiated investment related arbitration claim in which the customer sought $6,000,000.00 in damages based upon accusations that (1) the customer’s account was churned and (2) unsuitable over-the-counter equities recommendations were made…
Jose Giraldo also known as Tomas Giraldo a stockbroker formerly registered with Merrill Lynch Pierce Fenner Smith has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by accusations that he failed to supply FINRA with information that FINRA requested from him. Case No. 2018058059201 (Aug. 27, 2018)….
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…
Lance Allen Lohr of Cincinnati Ohio a stockbroker currently employed by Merrill Lynch Pierce Fenner Smith Inc. is referenced in a customer initiated investment related arbitration claim which was resolved for $1,910,188.00 in damages supported by accusations of the failure to follow the customer’s instructions from December 2016 in regard to common and preferred stock…
Susan E. Regan (also known as Susan Marie Eustace) of Westfield New Jersey a stockbroker currently employed by Merrill Lynch Pierce Fenner Smith Inc. is the subject of a customer initiated investment related arbitration claim where the customer requested $140,000.00 in damages founded on allegations that (1) misrepresentations and omissions were made in regard to…
Christopher C. Hellman of Boca Raton Florida a stockbroker formerly employed by Merrill Lynch Pierce Fenner Smith Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Hellman failed to cooperate with FINRA personnel in an investigation into Hellman’s alleged private securities…
Gary Kahn Stern of New York New York a stockbroker currently registered with Merrill Lynch Pierce Fenner Smith Inc. is the subject of a customer initiated investment related written complaint on October 24, 2018 where the customer requested unspecified damages based upon accusations that between August 14, 2017 and October 24, 2018, the customer’s investment…
Michael Vincent Foley of Upper Arlington Ohio a stockbroker currently registered with Merrill Lynch Pierce Fenner Smith Inc. is referenced in a customer initiated investment related arbitration claim which settled for $28,642.26 in damages founded on accusations that between March of 2010 and June of 2016: (1) misrepresentations were made to the customer concerning mutual…
Joel Thomas Summerlin of Tampa Florida a stockbroker currently registered with Merrill Lynch Pierce Fenner Smith Inc. is referenced in a customer initiated investment related written complaint which was resolved for $75,000.00 on March 1, 2018 supported by allegations that between June of 2010 and April of 2017: (1) Summerlin made investment recommendations to the…
Anthony William Smith (also known as Tony Smith) of New York New York a stockbroker currently registered with Merrill Lynch Pierce Fenner Smith Incorporated is referenced in a customer initiated investment related written complaint that was resolved on May 2, 2017 for $28,340.48 in damages founded on allegations that Smith failed to abide by the…
Gregory Alan Voight of Providence Rhode Island a stockbroker formerly employed by Merrill Lynch Pierce Fenner Smith Inc. is referenced in a customer initiated investment related arbitration claim which was resolved for $75,000.00 in damages founded on allegations that (1) misrepresentations were made to the customer concerning structured products and municipal debt products (2) investment…
Alex Jose Gierbolini of Guaynabo Puerto Rico a stockbroker currently employed by Merrill Lynch Pierce Fenner Smith Incorporated is referenced in a customer initiated investment related arbitration claim in which the customer sought $265,000.00 in damages founded on accusations that misrepresentations had been made to the customer and mutual fund transactions were placed in the…
Richard Bruce Sladek of Coeur D’Alene Idaho a stockbroker formerly employed by Merrill Lynch Pierce Fenner Smith Inc. has been discharged by the firm on August 16, 2017 founded on accusations that Sladek violated Merrill Lynch’s policies by failing to inform the firm about his outside business activities and having participated in an unauthorized financial…
Thomas Brian Healy of Albany New York a stockbroker formerly registered with Merrill Lynch Pierce Fenner Smith Inc. has been discharged on July 24, 2017 supported by allegations that Healy failed to comply with Merrill Lynch’s policies and trainings. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Healy has been identified in three customer…
Charles Paul Buland of Tulsa Oklahoma a stockbroker currently employed by Merrill Lynch Pierce Fenner and Smith Inc. is referenced in a customer initiated investment related written complaint which was resolved for $18,000.00 on August 21, 2018 supported by accusations that misrepresentations had been made to the customer between June of 2008 and August of…
Tyra Nelson Ellison of Farmington Connecticut a stockbroker currently employed by Merrill Lynch Pierce Fenner Smith Inc. is the subject of a customer initiated investment related written complaint on October 12, 2017 in which the customer requested unspecified damages founded on allegations that (1) misrepresentations and omissions had been made to the customer in September…
Dawei Wang of Norco California a stockbroker formerly registered with Merrill Lynch Pierce Fenner Smith Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by accusations that information was not provided by Wang to FINRA personnel after it was requested of him. Case No. 2017055025901 (Jan….
Caroline Novak of Menlo Park California a stockbroker formerly employed by Merrill Lynch Pierce Fenner Smith Incorporated has been terminated on December 15, 2017 supported by accusations that Novak neglected to inform Merrill Lynch about her engagement in an outside business activity. Financial Industry Regulatory Authority (FINRA) Public Disclosure additionally confirms that on August 31,…
Frank Howard Zito of Ridgeland Mississippi a stockbroker formerly registered with Merrill Lynch Pierce Fenner Smith Inc. has been discharged by the firm on June 25, 2018 supported by accusations that Zito failed to abide by the firm’s policies concerning outside business activities disclosures and selling away from the firm. Financial Industry Regulatory Authority (FINRA)…
Stephen Lee Wolferman of Montvale New Jersey a stockbroker currently registered with Merrill Lynch Pierce Fenner Smith Inc. is referenced in a customer initiated investment related arbitration claim in which the customer requested $500,000.00 in damages supported by allegations that between 2010 and 2016, the customer was placed in annuities that were not suitable for…
Ethan De Naray of Minneapolis Minnesota a stockbroker formerly employed by Merrill Lynch Pierce Fenner Smith 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 improperly exercised discretion in customer accounts and mismarked customer order tickets. Letter…
Ronald Frank Loeb of Bloomfield Hills Michigan a stockbroker formerly registered with Merrill Lynch Pierce Fenner Smith Inc. is referenced in a customer initiated investment related written complaint which settled for $15,000.00 on June 9, 2018 founded on accusations that Loeb made unsuitable investment recommendations to the customer concerning municipal bond investments and made misrepresentations…
Robert Thomas Steck of Great Neck New York a stockbroker currently employed by Merrill Lynch Pierce Fenner Smith Inc. is the subject of a customer initiated investment related arbitration claim where the customer requested unspecified damages supported by accusations that between 2012 and 2017, misrepresentations had been made to the customer concerning over-the-counter equities and…
Dario Alberto Ochoa (also known as Dario Ochoa Garcia) of Guaynabo Puerto Rico a stockbroker currently registered with Merrill Lynch is the subject of a customer initiated investment related arbitration claim in which the customer accused Ochoa to have made misrepresentations to the customer as well as unsuitable investment recommendations in reference to foreign-debt and…
James Allen Atwood of Boston Massachusetts a stockbroker formerly employed by Merrill Lynch Pierce Fenner Smith Inc. is the subject of a customer initiated investment related written complaint on September 27, 2016 in which the customer sought unspecified damages supported by accusations that master limited partnership investments were not appropriate for the customer’s charitable remainder…
Zachary Thomas Rawson of Indianapolis Indiana a stockbroker formerly employed by Merrill Lynch Pierce Fenner Smith Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by accusations that he declined to cooperate with FINRA’s request for details about his business activities. Case No. 2017055785201 (May 3,…
Shakela Yashica Carter of Fort Lauderdale Florida a stockbroker formerly employed by Merrill Lynch Pierce Fenner Smith Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity according to an Office of Hearing Officers Default Decision containing findings that Carter obstructed a FINRA investigation into accusations that she…
Scott David Curtis of Great Neck New York a stockbroker currently employed by Merrill Lynch Pierce Fenner Smith Inc. is referenced in a customer initiated investment related arbitration claim in which the customer sought $100,000.00 in damages based upon accusations that (1) misrepresentations and omissions had been made to the customer and (2) unsuitable mutual…
John Cornelius Troutman Jr. of Beaufort South Carolina a stockbroker currently employed by Merrill Lynch Pierce Fenner Smith Inc. is referenced in a customer initiated investment related written complaint on February 26, 2018 where the customer alleged unsuitable investment recommendations to have been made to the customer between September 1, 2014 and February 26, 2018….
Archibald Adam Walker of Great Neck New York a stockbroker currently registered with Merrill Lynch Pierce Fenner Smith Inc. is the subject of a customer initiated investment related civil action in which the customer requested compensatory damages founded on accusations that Walker converted a customer’s funds in the course of effecting a real estate transaction….
Terance Treadwell Power of Beverly Hills California a stockbroker currently employed by Merrill Lynch Pierce Fenner Smith Inc. is the subject of a customer initiated investment related written complaint which settled for $65,413.00 on April 26, 2018 supported by accusations that in September 2017, misrepresentations had been made to the customer concerning investments and mutual…
James Benjamin Farris of San Francisco California a stockbroker formerly employed by Merrill Lynch Pierce Fenner Smith Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in all capacities supported by accusations that he neglected to respond to FINRA’s request for his information. Case No. 2017053325801 (May 7, 2018). FINRA…
Tahesin Hussein Somji of Fort Worth Texas a stockbroker currently employed by Merrill Lynch Pierce Fenner Smith Inc. is the subject of a customer initiated investment related written complaint on February 23, 2018 where the customer requested unspecified damages supported by allegations including unsuitable investment recommendations and misrepresentation between 2008 and 2018 in regard to…
Ashish D. Mathur of New York New York a stockbroker currently registered with Merrill Lynch Pierce Fenner Smith Inc. is referenced in a customer initiated investment related written complaint on February 1, 2018 where the customer alleged that (1) misrepresentations and omissions had been made to the customer concerning foreign-debt investments and (2) unsuitable investment…
Shawn I. Houslin of Jacksonville Florida a stockbroker formerly registered with Merrill Lynch Pierce Fenner Smith Inc. has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by allegations that he ignored requests from FINRA for information concerning his business activities. Case No. 2017056538101 (Feb. 23, 2018). FINRA…
Joshua David Stamm of Lynchburg Virginia a stockbroker formerly registered with Merrill Lynch Pierce Fenner Smith Incorporated 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 he sold away from the firm. Letter of Acceptance Waiver…
Charles Ernest Kenahan of Boston Massachusetts a stockbroker currently registered with Merrill Lynch Pierce Fenner Smith Incorporated is the subject of a customer initiated investment related arbitration claim in which the customer sought $700,000.00 in damages based upon accusations that stock trades were effected in the customer’s account on an excessive basis and unsuitable equity…
Robert John Kostigen of Burlington Massachusetts a stockbroker currently employed by Merrill Lynch Pierce Fenner Smith Inc. is the subject of a customer initiated investment related written complaint on March 8, 2018 where the customer requested more than $5,000.00 in damages based upon allegations that the customer’s mutual fund investment instructions failed to be followed…
Robert Barry Jones of Saint Augustine Florida a stockbroker formerly employed by Merrill Lynch has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that he neglected to respond to FINRA after information had been requested of him. Case No. 2016051269601 (Oct. 16, 2017). FINRA Public…
Glenn Smith Feldman of Hartford Connecticut a stockbroker currently registered with Merrill Lynch Pierce Fenner Smith Inc. is the subject of a customer initiated investment related written complaint on October 28, 2016 where the customer alleged that unsuitable investment recommendations had been made concerning variable annuity products. Financial Industry Regulatory Authority (FINRA) Public Disclosure additionally…
Jennifer S. Yoon of Glendale California a stockbroker currently registered with Merrill Lynch Pierce Fenner Smith Inc. is the subject of a customer initiated investment related complaint which was resolved for $75,000.00 in damages supported by accusations that misrepresentations had been made to the customer concerning a variable annuity guaranteed income rider. FINRA Public Disclosure…
Melvin Saul Jacobs of Houston Texas a stockbroker formerly registered with Merrill Lynch Pierce Fenner Smith Inc. has been terminated on December 14, 2017 based upon allegations that he sold away from his firm in violation of Merrill Lynch’s policy. Financial Industry Regulatory Authority (FINRA) Public Disclosure also reveals that on February 11, 2009, a…
Jonathan R. Belden of Oakland California is a stockbroker formerly registered with Merrill Lynch Pierce Fenner and Smith Inc. who has been fined $10,000.00 and suspended for sixty days from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he mismarked customer order tickets and exercised…
Woong Seong Hwang of New York New York is a stockbroker formerly registered with Merrill Lynch who has been fired on July 11, 2017 based upon allegations that Hwang failed to furnish information about a customer that was accurate during the period in which the customer’s account had been established with Merrill Lynch. Financial Industry…
German Ricardo Mora of San Antonio Texas is a stockbroker formerly registered with Merrill Lynch who has been fired on November 11, 2016 based upon allegations that he executed transactions in customers’ accounts on a discretionary basis and marked order tickets as having been unsolicited when they were actually solicited. On November 29, 2016, Mora…
John Kirkland Moy of West Palm Beach Florida is a stockbroker formerly registered with Merrill Lynch who is referenced in a customer initiated investment related arbitration claim which settled for $65,000.00 in damages based upon allegations that unsuitable investment recommendations had been made to the customer in 2015 concerning over-the-counter equities transactions. Financial Industry Regulatory…
Christopher Lee Hibbard of Louisville Kentucky is a stockbroker formerly registered with Merrill Lynch Pierce Fenner and Smith Incorporated who has been fired on January 8 2018 supported by accusations that Hibbard engaged in conduct pertaining to the theft of funds and executed unauthorized transactions regarding money market and variable annuities. Financial Industry Regulatory Authority…
Lyle J. Boudreaux of Houston Texas is a stockbroker currently registered with Independent Financial Group LLC who is subject of a customer initiated investment related written complaint on October 27 2017 in which the customer sought two hundred ten thousand dollars in damages founded on accusations that unsuitable leveraged exchange traded fund transactions were effected…
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…
Shakela Carter of Fort Lauderdale Florida is a stockbroker formerly registered with Merrill Lynch who has been charged by Financial Industry Regulatory Authority (FINRA) in a Complaint alleging that she failed to testify in an investigation into accusations of her selling away from the firm. Department of Enforcement v. Shakela Carter Disciplinary Proceeding No. 20160492021-01…
Shaun Eugene Hayes of Fort Worth Texas is a stockbroker formerly registered with Merrill Lynch who is the subject of a customer initiated investment related complaint which settled on December 19 2017 for one hundred twenty-five thousand dollars in damages based upon allegations that stock trades had been effected in the customer’s account without the…
Guillermo William Valladolid, of La Jolla, California, a stockbroker formerly employed with Morgan Stanley, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity by consenting to findings that he failed to comply with FINRA in an investigation into allegations of Valladolid selling away from Morgan Stanley. Letter of…
James Anthony Merkel of Frederick, Maryland, a stockbroker formerly registered with Merrill Lynch, Pierce, Fenner & Smith Incorporated, has been fired on August 21, 2017, based upon allegations that he sold away from his firm and that his private securities transactions were violative of the firm’s policies. Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that…
Todd Kimm of Syracuse, New York, a stockbroker formerly registered with Merrill Lynch, Pierce, Fenner & Smith Incorporated, 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 he exercised discretion in customer accounts without authority, and placed…
Derrick Timothy Watts of Saint Charles, Illinois, a stockbroker currently registered with Oppenheimer & Co., is the subject of a customer initiated investment related written complaint, in which the customer requested over $5,000.00 in damages founded on accusations that Watts churned the customer’s equity portfolio between January of 2010 and November of 2015. Financial Industry Regulatory…
Ronald Lee Johnston of Daytona Beach, Florida, a stockbroker currently associated with Merrill Lynch, Pierce, Fenner & Smith Incorporated, is the subject of a customer initiated investment related written complaint, which settled on November 7, 2017 for $230,000.00 in damages based upon accusations of omissions and misrepresentations between August of 2016 and June of 2017…
Patrick Richard McNamara of Florham Park, New Jersey, a stockbroker currently registered with Merrill Lynch, Pierce, Fenner & Smith Incorporated, is the subject of a customer initiated investment related written complaint that settled on November 20, 2017 for $16,063.98 in damages supported by accusations that between September of 2011 and July of 2017, McNamara made…
Bruce Edward Orenstein of Weehawken, New Jersey, a stockbroker currently associated with UBS Financial Services, Inc., is the subject of a customer initiated investment related written complaint on October 18, 2017, where the customer requested more than $5,000.00 in damages supported by accusations that the customer was sold variable annuity products without having been informed…
James Barton Lowther of Sarasota, Florida, a stockbroker currently associated with Merrill Lynch, Pierce, Fenner & Smith Incorporated, is the subject of a customer initiated investment related arbitration claim, in which the customer sought $300,000.00 in damages based upon accusations of misrepresentations and omissions, unsuitable investment recommendations, and unauthorized master limited partnership transactions between November…
Timothy Revell Roberson of Brentwood, Tennessee, a stockbroker currently registered with Merrill Lynch, Pierce, Fenner & Smith Incorporated, is the subject of a customer initiated investment related written complaint, which settled for $30,543.31 in damages supported by accusations that Roberson made misrepresentations and omissions to the customer between September of 2015 and May of 2017 in…
John M. James of Golden Valley, Minnesota, a stockbroker associated with Merrill Lynch, Pierce, Fenner & Smith, Incorporated, 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 with FINRA in an investigation into allegations of his borrowing of customer…
Todd Douglas Ryman, of Atlanta, Georgia, a stockbroker formerly registered with Raymond James & Associates, is the subject of a customer initiated investment related written complaint on August 16, 2017, where the customer requested $300,000.00 in damages founded on allegations that between September 6, 2016 and February 13, 2017, Ryman effected unauthorized transactions in a…
Thomas Joseph Buck, of Indianapolis, Indiana, a former Merrill Lynch, Pierce, Fenner & Smith Incorporated stockbroker who has been barred by Financial Industry Regulatory Authority (FINRA) in all capacities, is the subject of five customer initiated investment related written complaints that have been settled on November 23, 2016, for a total of $465,000.00 in damages,…
Phil Scott (also known as Walter Philip Schlaepfer), of Bellevue, Washington, 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 $125,000.00 in damages supported by allegations of misrepresentation and unsuitable investment recommendations having been made in regard to…
Louis Anthony Telerico of Dayton, Ohio, a stockbroker formerly registered with Westminster Financial Securities, Inc. has been named in a customer initiated investment related arbitration claim, in which the customer requested $426,000.00 in damages based upon allegations that Telerico executed art and land based transactions that led the customer to sustain losses. FINRA Arbitration No. 17-00988…
Landon Lavon Williams, of Jacksonville, Florida, a stockbroker formerly registered with Merrill Lynch, Pierce, Fenner & Smith Incorporated, has been fined $10,000.00 and suspended for two years 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…
Stuart L. Pearl, of Deerfield, Illinois, a stockbroker formerly employed with Ameriprise Financial Services, Inc., is the subject of a $7,500.00 fine, and has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that he exercised discretion in customer accounts and made unsuitable margin-based investment recommendations…
Dale Earl Krueger, of Midland, Michigan, a stockbroker formerly registered with Moloney Securities, Inc., has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity by consenting to findings that he inappropriately utilized customers’ investment funds, and failed to cooperate with FINRA during an investigation into allegations of Krueger’s unauthorized…
David James Boor, of Farmington Hills, Michigan, a stockbroker currently registered with UBS Financial Services Inc., is the subject of a customer initiated investment related arbitration claim on May 30, 2017, in which the customer sought $139,000.00 in damages supported by allegations that between December 1, 2015, and May 30, 2017, Boor effected mutual funds…
Mehran Tazhibi, of Berkeley, California, a stockbroker formerly registered with Merrill Lynch, Pierce, Fenner & Smith Incorporated, has been fined $10,000.00 and suspended for two months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded upon consenting to findings that he made unsuitable recommendations to customers regarding municipal bonds. Letter…
Andrew Bruce Elsoffer, of Pepper Pike, Ohio, a stockbroker currently registered with Stifel, Nicolaus & Company, Inc., is the subject of a customer initiated investment related arbitration claim, which settled on October 27, 2016, for $165,000.00 in damages supported by allegations of negligence, breach of contract, elder abuse, elder exploitation, breach of fiduciary duty, suitability,…
Lorenzo C. Esteva of Miami , Florida, a stockbroker formerly registered with UBS 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 provide FINRA with information and documentation in the course of FINRA’s investigation into allegations of…
Shoug Mayson, of New York, New York, a stockbroker formerly registered with Windsor Street Capital, LP, was terminated on June 22, 2017, based upon allegations that he engaged in business activities with another broker-dealer during the time that he was registered with Windsor Street Capital, and furnished inaccurate customer account information to his firm. This…
Joshua J. Pratta, of Towson, Maryland, a stockbroker formerly registered with Merrill Lynch, Pierce, Fenner & Smith Incorporated, is the subject of a customer initiated investment related written complaint on October 24, 2016, in which the customer requested $100,000.00 in damages based upon allegations that Pratta made misrepresentations and omissions, recommended unsuitable investments, and effected…
Stephen Brown and James Peter Goetz Jr., of Pittsford, New York, stockbrokers formerly associated with Merrill Lynch, Pierce, Fenner & Smith, were suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity according to a FINRA Office of Hearing Officers Extended Hearing Panel Decision containing findings that: Brown engaged in undisclosed…
Lorenzo C. Esteva, of Miami, Florida, a stockbroker registered with UBS Financial Services, Inc., was terminated from employment on June 6, 2017, based upon allegations that he confessed to furnishing bogus account information to customers in the course of the firm’s investigation into his business activities. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that…
Windsor Street Capital (formerly Meyers Associates, L.P.), a brokerage firm headquartered in New York, New York, as well as its stockbrokers, Nas Adel Allan and Gregory J. Anastos, were charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement in a Complaint alleging, inter alia, that customers’ investment accounts were traded on an excessive and…
William H. Merriam, IV, of Jacksonville, Florida, a stockbroker formerly registered with Merrill Lynch, Pierce, Fenner & Smith, Inc., has been fined and suspended 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 his alleged forgery. Letter…
Josette Lee Greechan, of White Plains, New York, a stockbroker registered with Merrill Lynch, Pierce, Fenner & Smith, Incorporated, has been sanctioned according to a Stipulation and Order for Withdrawal issued by the State of Michigan Department of Licensing and Regulatory Affairs, Corporations, Securities & Commercial Licensing Bureau, based upon allegations that Greechan entered into…
Fred Ronald Brown, of Montgomery, Alabama, a stockbroker registered with Merrill Lynch, Pierce, Fenner & Smith Inc., was fired on July 12, 2017, based upon allegations that Fred Ron entered into a loan arrangement with a customer despite failing to first gain authorization from the firm. Financial Industry Regulatory Authority (FINRA) Public Disclosure Reveals that…
Daniel E. Peltier, of Edina, Minnesota, a stockbroker formerly registered with Raymond James & Associates, Inc., has been fined $40,000.00 and suspended for ten months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he engaged in the manipulation of a stock, failed to conduct…
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…
Shaun Paul Golden, of New York, a director of Golden Wealth Management, Inc., has been permanently barred in all securities registration capacities and subject of cease and desist sanctions imposed by Florida’s Office of Financial Regulation pursuant to an Order containing findings that Golden applied for securities registration in the State of Florida by making…
Chuck J. Hilliard II, of Austin, Texas, a stockbroker formerly registered with Kestra Investment Services, LLC, is the subject of a customer initiated investment related written complaint on December 7, 2016, in which the customer requested more than $5,000.00 in damages based upon allegations that Hilliard effected unsuitable transactions in the customer’s account. Financial Industry…
Sandy Michael Galuppo, of New York, New York, a stockbroker registered with Merrill Lynch, Pierce, Fenner & Smith Incorporated, was terminated from employment on October 3, 2016, based upon allegations that he furnished expense information to his firm in a manner that “violated the company’s policies.” Moreover, on April 11, 2017, Financial Industry Regulatory Authority…
Jerry Allen Cicolani Jr., of Cleveland, Ohio, a stockbroker formerly registered with PrimeSolutions Securities, Inc., is the subject of a Securities and Exchange Commission (SEC) Order Instituting Administrative Proceedings pursuant to Securities Exchange Act of 1934 Section 15(b) as well as Section 203(f) of the Investment Advisers Act of 1940 containing findings that Cicolani illegally…
Donald Lee Bergeron, of Charlotte, North Carolina, a stockbroker formerly registered with Capital Guardian, 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 placed unauthorized trades in a customer’s account. Letter of Acceptance, Waiver and Consent, No….
Gregory Thormann Pease, of New York, New York, a stockbroker formerly registered with Wells Fargo Clearing Services, LLC, is the subject of a customer initiated investment related civil action on November 14, 2016, in which the customer requested more than $5,000.00 in damages based upon allegations that he failed to provide the customer with an…
Donald Newton McCoy, of Saint Louis, Missouri, a stockbroker registered with Raymond James & Associates, Inc., has been fired from the company on August 12, 2016, based upon allegations that he engaged in outside business activities. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that McCoy was also terminated from a prior employer, Merrill Lynch,…
Lorene Fairbanks, of Canfield, Ohio, a stockbroker registered with Ameriprise Financial, has been terminated from employment on May 18, 2017, based upon allegations that Fairbanks borrowed funds from a customer and corresponded with customers in violation of the firm’s policies. This is not the first time that Fairbanks has been terminated from employment based upon…
Willie L. Vales, of Conshohocken, Pennsylvania, a stockbroker formerly registered with Santander Securities LLC, is the subject of a customer initiated investment related arbitration claim on February 27, 2017, based upon allegations including violation of securities laws, breach of contract, breach of fiduciary duty, over-concentration, and misrepresentation pertaining to exchange traded funds effected in the…
Dale Christian Russell Sr., of Portland, Oregon, a stockbroker formerly registered with Merrill Lynch, Pierce, Fenner & Smith Incorporated, 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 with an investigation into his alleged prohibited activities relating to…
Christopher David Sadaka, of Paramus, New Jersey, a stockbroker formerly registered with Merrill Lynch, Pierce, Fenner & Smith Incorporated, is the subject of a customer initiated investment related written complaint on May 1, 2017, based upon allegations that between May of 2015 to April of 2017, Sadaka made unsuitable investment recommendations to the customer concerning…
Nicole Marie Andres, of New York, New York, a stockbroker formerly registered with Credit Suisse Securities (USA) LLC, is the subject of a customer initiated investment related written complaint on January 30, 2017, in which the customer requested $44,355.00 in damages based upon allegations that Andres made unsuitable investment recommendations to the customer concerning exchange…
Gregory Richard Sherf, of Leawood, Kansas, a stockbroker currently registered with Merrill Lynch, Pierce, Fenner & Smith Inc., is the subject of a customer initiated investment related written complaint on April 28, 2017, in which the customer requested $15,504.80 in damages based upon allegations that Sherf, between February of 2014 and April of 2017, made…
Bryce Scott Wilinski, of Melville, New York, a stockbroker formerly registered with Merrill Lynch, Pierce, Fenner & Smith Incorporated, is the subject of a customer initiated investment related arbitration claim, wherein the customer was awarded $352,815.00 in damages on June 16, 2016, based upon allegations that Wilinski made misrepresentations and omissions to the customer, failed…
Daniel Edward Peltier, of Edina, Minnesota, a stockbroker formerly registered with RBC Capital Markets, LLC, has been named in a customer initiated investment related written complaint, which settled on May 12, 2016, in which the customer received $45,033.63 in damages based upon allegations that he engaged in sales practice violations with respect to an over-the-counter…
Jesse Joseph Holovacko, of South Amboy, New Jersey, a stockbroker formerly registered with Merrill Lynch, Pierce, Fenner & Smith Incorporated, has been sanctioned by the State of New Jersey Bureau of Securities via a $75,000.00 fine accompanied by the revocation of his securities registration pursuant to a Summary Revocation and Penalty Order containing findings that…
James Jordan Plasterer Jr, of Tuscaloosa, Alabama, a stockbroker formerly registered with Merrill Lynch, Pierce, Fenner & Smith Incorporated, has been named in a customer initiated investment related arbitration claim on March 29, 2017, in which the customer requested $2,500,000.00 in damages based upon allegations that he did not properly handle the customer’s portfolio of…
Judy Buchanan Healy, of Melbourne, Florida, a stockbroker formerly registered with Merrill Lynch, Pierce, Fenner & Smith Incorporated, has been fined $25,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that she triggered unauthorized initial public offering transactions. Letter of Acceptance, Waiver and…
Kai Chong Cheng of Tenafly, New Jersey, recently signed a consent order with the State of New Jersey agreeing to a five-year suspension from registration in New Jersey. In a related enforcement action, he has been permanently barred from the securities industry by FINRA. Cheng worked at a Merrill Lynch branch office in New York…
Blake P. King, of Atlanta, Georgia, a stockbroker formerly registered with Merrill Lynch, Pierce, Fenner & Smith, Inc., has been fined and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that King obstructed a FINRA investigation into allegations that he effected unauthorized trades in…
Roger Wilson Rodas, of Glendale, California, a stockbroker formerly registered with Merrill Lynch, Pierce, Fenner & Smith Incorporated, has been named in a customer initiated investment related written complaint on January 21, 2016, based upon allegations that Rodas made unsuitable investment recommendations to the customer concerning real estate securities and investments offered via a foreign…
Robert Neil Tricarico, of Westport, Connecticut, a stockbroker formerly registered with LPL Financial, LLC, has been permanently barred by the Securities and Exchange Commission (SEC) from working as an investment adviser or stockbroker, or associating with any investment adviser or brokerage firm according to an Order Instituting Administrative Proceedings pursuant to Securities Exchange Act of…
John Andrew Bodnar, of Burlington, Vermont, a stockbroker registered with Merrill Lynch, Pierce, Fenner & Smith Inc., was terminated from employment on January 9, 2017, based upon allegations that he solicited an unauthorized loan arrangement with one of the firm’s customers. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Bodnar has been named in…
Daniel P. Reilly, of New York, New York, a stockbroker formerly registered with Merrill Lynch, Pierce, Fenner & Smith Incorporated, has been named in a customer initiated investment related written complaint, which settled on January 25, 2017, for $16,727.00 in damages based upon allegations that he effected unauthorized mutual fund trades in the customer’s account….
William Bartly Wolf, of Newark, New Jersey, a stockbroker formerly registered with Merrill Lynch, Pierce, Fenner & Smith Incorporated, has been named in a customer initiated investment related written complaint on September 2, 2015, based upon allegations that Wolf effected mutual fund trades in the customer’s investment account without the customer’s consent. Financial Industry Regulatory…
Stephen Brown, of Pittsford, New York, a stockbroker formerly registered with Merrill Lynch, Pierce, Fenner & Smith, Inc., was charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement in a Complaint based upon allegations that he, inter alia, engaged in private securities transactions and outside business activities without disclosing them to his firm. Department…
Jeffrey Timothy Kluge, of Saint Paul, Minnesota, a stockbroker currently registered with Merrill Lynch, Pierce, Fenner & Smith Incorporated, has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that he failed to provide FINRA staff with information concerning his activities. Letter No. 2016052377201 (Apr. 10,…
Jeffrey Thomas Rathmanner, a stockbroker registered with Merrill Lynch, Pierce, Fenner & Smith Incorporated, has been terminated from employment on April 5, 2017, based upon allegations that Rathmanner made representations to others on behalf of Merrill Lynch which the firm had not authorized. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that on March 16,…
Steven Kent Quinly, of Walnut Creek, California, a stockbroker currently registered with Merrill Lynch, Pierce, Fenner & Smith Incorporated, has been named in a customer initiated investment related arbitration claim on February 21, 2017, in which the customer requested $116,000.00 in damages based upon allegations that Quinly made unsuitable investment recommendations to the customer as…
Andoni Yturralde, of New York, New York, a stockbroker registered with deVere USA Inc., has been terminated from employment on January 27, 2017, based upon allegations that Yturralde failed to cooperate with the procedures and policies of the firm, failed to effect trades in accordance with a customer’s instructions, and effected unauthorized equity transactions in…
David Steven Rasdolsky, of Reston, Virginia, a stockbroker formerly registered with Merrill Lynch, Pierce, Fenner & Smith Inc., has been named in a customer initiated investment related written complaint on July 29, 2015, based upon allegations that he made unsuitable investment recommendations to the customer concerning mutual funds, and omitted facts concerning the fees pertaining…
Jarred M. Lawson, of Jacksonville, Florida, a stockbroker formerly registered with Merrill Lynch, Pierce, Fenner & Smith Incorporated, 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 misrepresentations and omissions to customers, and furnished misleading account documentation…
Mark David Yadron, of Prescott, Arizona, a stockbroker currently registered with Merrill Lynch, Pierce, Fenner & Smith Incorporated, has been named in a customer initiated investment related written complaint on February 3, 2017, in which the customer requested $5,095.35 in damages based upon allegations that Yadron effected unauthorized closed-end fund trades in the customer’s investment…
Nelson Michael Polun, of Bel Air, Maryland, a stockbroker currently registered with Wells Fargo Clearing Services, LLC, has been named in a customer initiated investment related written complaint, which settled for $4,546.96 in damages on March 13, 2017, based upon allegations that Polun made misrepresentations to the customer concerning preferred stock investments, and omitted that…
Kevin C. Yang, of Pasadena, California, a stockbroker currently registered with Morgan Stanley Inc., has been named in a customer initiated investment related arbitration claim, which settled on December 18, 2016, for $57,500.00 in damages based upon allegations that Yang made misrepresentations to the customer and effected unsuitable structured transactions in the customer’s account. Financial…
Lyle J Boudreaux, of Houston, Texas, a stockbroker currently registered with Independent Financial Group, LLC, has been named in a customer initiated investment related written complaint on January 27, 2017, in which the customer requested $120,000.00 in damages based upon allegations that Boudreaux was liable for losses sustained by the customer in reference to exchange…
Mark Eben Lilley, of Guaynabo, Puerto Rico, a stockbroker currently registered with Merrill Lynch, Pierce, Fenner & Smith Incorporated, has been named in a customer initiated investment related arbitration claim on May 11, 2016, in which the customer requested $100,000.00 in damages based upon allegations that Lilley, from 2012 to 2016, omitted and misrepresented facts…
Todd Douglas Ryman, of Atlanta, Georgia, a stockbroker formerly registered with Raymond James & Associates, Inc., has been named in a customer initiated investment related written complaint on February 15, 2017, in which the customer requested $300,000.00 in damages based upon allegations that Ryman committed securities related misconduct in reference to the customer’s transactions regarding…
Phil Fiore Jr., of Stamford, Connecticut, a stockbroker registered with UBS Financial Services Inc., has been terminated from employment on November 30, 2016, based upon allegations that he failed to abide by his firm’s procedures, including: the operation of a golf tournament without approval; communications with the public without the firm’s authorization; and Fiore’s lack…
Robert W. Berry, of Fairlawn, Ohio, a stockbroker currently registered with Stifel, Nicolaus & Company, Inc., has been fined and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that effected unauthorized trades in customer accounts. Letter of Acceptance, Waiver and Consent, No. 2015046243901 (Mar. 7,…
Damian Marlon Bell, of Daphne, Alabama, a stockbroker currently registered with WFG Investments, Inc., has been named in a customer initiated investment related arbitration claim on January 19, 2017, in which the customer requested $1,000,000.00 in damages based upon allegations that Bell made misrepresentations and omissions to customers concerning private placements, and failed to adequately…
Matthew Hugh Hurley, of San Diego, California, a stockbroker formerly registered with Oppenheimer & Co. Inc., has been named in a customer initiated investment related arbitration claim, which settled on November 10, 2016, for $15,000.00 in damages based upon allegations that Hurley failed to execute upon the customer’s stop loss order, and charged the customer…
Joshua David Stamm, of Lynchburg, Virginia, a stockbroker formerly registered with Merrill Lynch, Pierce, Fenner & Smith Incorporated, has been fined $10,000.00, prohibited from working in a supervisory capacity, and placed on heightened supervision based upon a Virginia State Corporation Commission Division of Securities Order containing allegations that Stamm engaged in outside business activities without…
Brandon M. Adkins, of Eau Claire, Wisconsin, a stockbroker formerly registered with Merrill Lynch, Pierce, Fenner & Smith, has been named in a customer initiated investment related written complaint, which settled on September 2, 2014, for $22,966.32 in damages based upon allegations that Adkins made misrepresentations and unsuitable investment recommendations to the customer regarding exchange…
David Howard Fagenson, of Palm Beach, Florida, a stockbroker formerly registered with UBS Financial Services Inc., has been named in a customer initiated investment related written complaint on September 26, 2016, based upon allegations that from 2013 to 2016, Fagenson effected unauthorized trades in the customer’s account and failed to abide by the customer’s instructions…
Bruce Benjamin Greenwald, of Pepper Pike, Ohio, a stockbroker formerly registered with Morgan Stanley, has been named in a customer initiated investment related arbitration claim on January 3, 2017, in which the customer requested $800,000.00 in damages based upon allegations that Greenwald failed to abide by the customer’s investment based instructions, and made misrepresentations to…
Richard Grant Cody, of Spring Lake, New Jersey, a stockbroker formerly registered with Westminster Financial Securities, Inc., has been named in a customer initiated investment related written complaint on January 18, 2017, based upon allegations that Cody misappropriated funds belonging to the customer in connection with over-the-counter equity transactions. Financial Industry Regulatory Authority (FINRA) Public…
Chadwick C. Collins, of Carlsbad, California, a stockbroker formerly registered with Wells Fargo Advisors, LLC, has been named in a customer initiated investment related arbitration claim, which settled on April 18, 2016, for $86,559.31 in damages based upon allegations that Collins, from December of 2015 to March of 2016, failed to disclose commissions charged to…
Jill M. Cody, of Spring Lake, New Jersey, a stockbroker formerly registered with Westminster Financial Securities, Inc., has been named in a customer initiated investment related written complaint on January 18, 2017, based upon allegations that Cody misappropriated the customer’s funds. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Cody has been identified in…
Robert Michael Giusti, of New York, New York, a stockbroker formerly registered with Merrill Lynch, Pierce, Fenner & Smith Inc., has been named in a customer initiated investment related arbitration claim on April 24, 2015, in which a customer was ultimately awarded $300,000.00 in damages based upon allegations that from 2010 to 2015, Giusti made…
Patrick J. Sands, of Quincy, Massachusetts, a stockbroker formerly registered with Merrill Lynch, Pierce, Fenner & Smith Incorporated, was terminated from employment on November 19, 2015, based upon allegations that he sold securities outside the auspices of his firm, which was a violation of his firm’s policies. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals…
Lisa Ann Wolf, of Chicago, Illinois, a stockbroker currently registered with Merrill Lynch, Pierce, Fenner & Smith Incorporated, has been named in a customer initiated investment related arbitration claim, which settled on April 10, 2015 for $150,000.00 in damages based upon allegations that from July of 2008 to June of 2014, Wolf made misrepresentations and…
Jacquin P. Fink, a stockbroker currently registered with Merrill Lynch, Pierce, Fenner & Smith, has been named in a customer initiated investment related written complaint on October 13, 2016, in which the customer requested $300,000.00 in damages based upon allegations that between October 2015 and October 2016, Fink made unsuitable equity investment recommendations to the…
James Michael Noto, of Trinity, Florida, a stockbroker currently registered with Summit Brokerage Services, Inc., has been named in a customer initiated investment related arbitration claim, which settled on August 3, 2016 for $25,000.00 in damages. The customer’s claim was based upon allegations that Noto effected an unsuitable variable annuity contract. FINRA Public Disclosure reveals…
Thomas Alan Braley, of Saginaw, Michigan, a stockbroker and financial advisor formerly registered with Merrill Lynch, Pierce, Fenner & Smith Incorporated, has been named in a customer initiated investment related arbitration claim which settled on December 2, 2016 for $75,000.00 in damages. The customer’s claim was based upon allegations that between January of 2013 and…
Brooke Ashley Clements, of Greenwood Village, Colorado, a stockbroker formerly registered with Merrill Lynch, Pierce, Fenner & Smith Incorporated, was terminated by the firm on May 1, 2015, based upon allegations that Clements effected transactions in customer accounts on a discretionary basis, when the firm did not authorize time and place based discretion to be…
Achilleas Psihudakis, of Bayside, New York, was terminated by his employer, Merrill Lynch, Pierce, Fenner & Smith Incorporated on April 16, 2015, based upon allegations that Psihudakis utilized discretion in customer accounts, which was conduct that his broker prohibited. FINRA Public Disclosure reveals that on August 15, 2016, Psihudakis’ securities registration with Maryland Securities Commissioner…
Eric Wayne Harding, of Scottsdale, Arizona, has been terminated from employment with United Planners Financial Services of America on October 6, 2016, based upon allegations that Harding had failed to abide by the policies of the firm concerning repayment of monies that were owed to the firm. This is not the first time that Harding’s…
Frank J. Bodi, of Atlanta, Georgia, a stockbroker formerly registered with Coastal Equities, Inc., has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he effected trades in customer accounts without authorization. Letter of Acceptance, Waiver and Consent, No. 2014041310601 (Dec….
Louise J. Neale, of Atlanta, Georgia, a stockbroker formerly registered with Merrill Lynch, Pierce, Fenner & Smith, Inc., has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that she failed to cooperate in a FINRA investigation into allegations that Neale mishandled her…
Merrill Lynch, Pierce, Fenner & Smith, headquartered in New York, York, New York, was censured and fined $6,250,000.00 by Financial Industry Regulatory Authority (FINRA) after consenting to findings that the firm failed to supervise loan management accounts, and failed to supervise suitability transactions pertaining to Puerto Rico securities. Letter of Acceptance, Waiver and Consent, No….
Randy Merrill, of Waco Texas, a stockbroker currently registered with First Financial Equity Corporation, has been subject to a customer initiated investment related arbitration claim on October 19, 2015, which was settled for $22,500.00 in damages based upon allegations that Merrill effected unsuitable transactions in the customer’s investment account. The customer additionally alleged that First…
Joseph I. Yanofsky, of Greenwood Village, Colorado, a stockbroker formerly registered with Merrill Lynch, Pierce, Fenner & Smith, has been subject to a customer initiated investment related arbitration claim on August 27, 2015, in which the customer alleged that Yanofsky effected unauthorized transactions in the customer’s investment account. FINRA Public Disclosure reveals that Yanofsky has…
Alfonso Papa, of Pennington, New Jersey, a stockbroker formerly associated with Merrill Lynch, was barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he obstructed a FINRA investigation into allegations of misconduct associated with “personal bank accounts.” Letter of Acceptance, Waiver and Consent, No. 2016048730602…
Jay J. Gruenebaum, of Zanesville, Ohio, a stockbroker formerly registered with Stifel, Nicolaus & Company, was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he obstructed a FINRA investigation into allegations that Gruenebaum mishandled customer accounts. Letter of Acceptance, Waiver and Consent, No….
Heather P. Weber, of Tampa, Florida, a stockbroker with Merrill Lynch, Pierce, Fenner & Smith Incorporated, has been named in a pending customer initiated investment related arbitration claim on July 7, 2016, in which the customer requested $500,000.00 in damages based upon allegations that Weber made omissions and misrepresentations to the customer concerning investments, and…
James B. Moran, of Florham Park, New Jersey, is subject to a pending customer dispute from May 11, 2016, in which a customer requested $167,640.35 in connection with allegations against Moran of effecting transactions in the customer’s account that were not suitable. According to FINRA records, Moran has been subject to six additional disclosure incidents….
Merrill Lynch, Pierce, Fenner & Smith Inc., headquartered in New York, New York, consented to a $10,000,000.00 fine by The Securities and Exchange Commission (SEC) in connection with an SEC Order containing findings that Merrill Lynch made misleading statements regarding costs pertaining to structured notes issued by Bank of America – Merrill Lynch’s parent. SEC…
Merrill Lynch, Pierce, Fenner & Smith Inc., headquartered in New York, New York, was fined $358,000,000.00, and issued a Cease and Desist Order by The Securities and Exchange Commission in connection with findings that Merrill Lynch failed to properly safeguard the clients’ assets from creditor claims, and improperly utilized investors’ funds in order to rake…
Landon L. Williams, of Jacksonville, Florida, a stockbroker with Merrill Lynch, Pierce, Fenner & Smith Incorporated, was charged by Financial Industry Regulatory Authority (FINRA) in a Complaint alleging that Williams had made misrepresentations to firm customers concerning securities transactions. Department of Enforcement v. Williams, No. 2014042524301 (Aug 4, 2016). According to the Complaint, from March…
Paul S. Plemenos of Sparta, New Jersey, a stockbroker with Merrill Lynch, Pierce, Fenner & Smith Incorporated, was fined $7,500.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that he engaged in unauthorized trading in customer accounts. Letter of Acceptance, Waiver and Consent, No….
David J. Sullivan of Boston, Massachusetts, a registered representative with J.P. Morgan Securities LLC, was fined $5,000 and suspended from association with any Financial Industry Regulatory Authority (FINRA) member in any and all capacities for fifteen days after consenting to findings that he engaged in unauthorized discretionary trading. Letter of Acceptance, Waiver and Consent No….
Kenneth Daley, of Garden City, New York, a stockbroker with Merrill Lynch, Pierce, Fenner & Smith Incorporated, was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that he concealed customer funds and made an unsuitable investment recommendation. Letter of Acceptance, Waiver and Consent,…
Merrill Lynch, Pierce Fenner & Smith, Inc. headquartered in New York, New York, was censured and fined $5,000,000.00 by the Financial Industry Regulatory Authority (FINRA) after consenting to findings that the firm failed to properly disclose costs associated with strategic return notes. Letter of Acceptance, Waiver and Consent, No. 2012032967901 (June 23, 2016). According to the…
Richard Gomez, of New York, New York, a stockbroker with Legend Securities, Inc., was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity in connection with a Hearing Panel Decision containing findings that Gomez engaged in private securities transactions, and made unsuitable recommendations to investors. Department of Enforcement…
Scott Muirhead, of Jacksonville, Florida, a stockbroker with Merrill Lynch, Pierce, Fenner & Smith, Inc., was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that Muirhead failed to comply with a FINRA investigation. Letter of Acceptance, Waiver and Consent, No. 20150447853-01 (Apr. 19,…
Bruce William McNabb, of San Antonio, Texas, a stockbroker with Merrill Lynch, Pierce, Fenner & Smith, Inc., was fined $50,000.00 and suspended for two years from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that he engaged in an unauthorized private securities transaction. Letter of Acceptance,…
Billy Wayne Allen, of Bentonville, Arkansas, a stockbroker with Merrill Lynch, Pierce, Fenner & Smith, Inc., was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he failed to cooperate in a FINRA investigation into his unauthorized solicitation and receipt of loans from customers….
John L. Shockey, of Shreveport, Louisiana, a stockbroker with Merrill Lynch, Pierce, Fenner & Smith, Inc., was fined $15,000.00; disgorged of $70,070.00; and suspended for one year from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that he engaged in the participation of multiple unauthorized private…
Giustino Destefano, of Williamsville, New York, a stockbroker with Merrill Lynch, was fined $10,000.00 and suspended for three months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he engaged in unauthorized discretionary trading and mismarked customers’ order tickets as unsolicited. Letter of Acceptance, Waiver and…
Harold Joseph Petro, of Indianapolis, Indiana, a stockbroker with Merrill Lynch, was fined $15,000.00 and suspended for six months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he engaged in unauthorized discretionary trading in customer accounts. Letter of Acceptance, Waiver and Consent, No. 2014040640101 (Mar….
Jeffrey S. Ingros, of Beaver, Pennsylvania, a stockbroker with Raymond James Financial Services, Inc., was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he failed to cooperate in a FINRA investigation into allegations that he engaged in unauthorized loans and outside business activities….
Merrill Lynch, Pierce, Fenner & Smith Inc. of New York, New York, was censured and fined $1,250,000 after consenting to findings of the firm’s failure to fingerprint or timely fingerprint associated persons; failure to adequately screen for statutory disqualification; failure to create required documents; and failure to establish and maintain an adequate supervisory system and…
Larry Michael Crabtree of Edmond, Oklahoma, a stockbroker with WFG Investments, Inc., was suspended for six-months in all capacities from association with any Financial Industry Regulatory Authority (FINRA) member firm after consenting to findings that Crabtree engaged in unsuitable trading and improperly exercised discretion in the account of a customer; sent inappropriate and unapproved communications…
Today, the United States Attorney for the Eastern District of New York unsealed a seven-count indictment Martin Shkreli and his lawyer with securities fraud. According to the indictment, between September 2009 and January 2011, Shkreli falsely represented to potential investors his company MSMB Capital was a transparent investment vehicle for sophisticated investors with monthly liquidity,…
John Michael Leone, a non-registered associated person with Merrill Lynch, Pierce, Fenner & Smith, was barred from associating with any Financial Industry Regulatory Authority (FINRA) member frim in any capacity after consenting to findings that he attempted to convert customer funds. Letter of Acceptance, Waiver and Consent, No. 2015045761101 (Dec. 1, 2015). According to the…
David J. Sullivan of Boston, Massachusetts, a registered representative with J.P. Morgan Securities LLC, was fined $5,000 and suspended from association with any Financial Industry Regulatory Authority (FINRA) member in any and all capacities for fifteen days after consenting to findings that he engaged in unauthorized discretionary trading. Letter of Acceptance, Waiver and Consent No….
Xavier R. Endress of Bloomfield Hills, Michigan, a registered representative with Merrill Lynch, Pierce, Fenner & Smith, Inc., was permanently barred from association with any Financial Industry Regulatory Authority (FINRA) registered firm in all capacities after consenting to findings that he engaged in undisclosed outside business activities and provided false information to his employer in…
Liam Gerard O’Keeffe from Danbury, CT, a Stockbroker with Merrill Lynch, was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that he failed to provide information and documentation requested by FINRA in the course of their investigation into allegations that O’Keeffe exercised discretion…
Brodie Johnson, a Stockbroker with Merrill Lynch, was permanently barred from association with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that Johnson had failed to provide information and documentation pursuant to a FINRA investigation into Johnson’s alleged outside business activities and trading in personal accounts. Letter of Acceptance,…
Tammy C. Peterson, a registered representative for Merrill Lynch, Pierce, Fenner & Smith, Inc., was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to FINRA findings that Peterson had converted approximately $107,378 from four of her firm’s customers for her own personal benefit and use. Letter…
Tiffany Danielle Peacock-Asakawa, a former general securities representative with both Raymond James Financial Services, Inc. and Merrill Lynch, was suspended for 10 months from associating with any FINRA-regulated firm in any capacity, while also being subject to a $15,000 fine after consenting to FINRA findings that she had executed trades for customers without being licensed,…
Michael R. Highfill from Ridgeland, Misssippi, a former general securities representative and general securities sales supervisor with Merrill Lynch, Pierce, Fenner & Smith Inc., was barred from association with any FINRA-registered firm in all capacities after failing to provide information and documentation in connection with FINRA’s investigation into allegations that Highfill solicited and had accepted…
Thomas J. Buck, a former Indiana based financial advisor associated with RBC Capital Markets, LLC, was barred from association with any FINRA-registered firm in all capacities after consenting to FINRA findings containing allegations Buck committed misconduct pertaining to commission-based accounts and unauthorized trading and exercise of discretion without oral or written authorization. FINRA Letter of…
Welcome to America! You Can’t Make This Stuff Up America is the land of opportunity. Pakistani citizen and New York resident, Moazzam “Mark” Malik worked as a waiter, and NYPD traffic agent, and a security guard. After “working” at Lehman Brothers, JP Morgan Chase and Merrill Lynch, since 2002. Mark Malik manages more than $1…
Jinesh Brahmbhatt also known as “Hodge,” was permanently barred by the Financial Industry Regulatory Authority or FINRA in connection with an alleged $18 million fraud perpetrated against a number of high profile National Football League and National Basketball Association players. Brahmbhatt, also conducting business under the name Jade Private Wealth Management, agreed to an a…
In 2011 Bank of America Merrill Lynch, in conjunction with ETF Securities, launched the first Exchange Traded Fund (ETF) linked to European equity volatility, listed on the London Stock Exchange. The ETFX-BofAML IVSTOXX ETF is linked to the EURO STOXX 50 Investable Volatility Index (the Investable VSTOXX, or IVSTOXX), an investable index which reflects the…
Merrill Lynch, Pierce, Fenner & Smith Inc. has been fined $450,000 by the Financial Industry Regulatory Authority (FINRA) for failure to supervise operations to prevent unsuitably high concentrations of structured products from building up in customer accounts. The firm submitted a Letter of Acceptance, Waiver and Consent (AWC) to settle alleged violations of FINRA rules….
On October 4, 2011, a FINRA Arbitration Panel sitting Portland, Oregon, in the matter of James D. Brogden, et. al. v. Merrill Lynch Pierce Fenner & Smith, Inc., FINRA Arbitration Number 10-01725 rendered an arbitration award against Merrill Lynch for $96,049 of the $309,358 in damages sought in connection with the recommendation to purchase Federal…
FINRA Fines Bank Broker-Dealers $1.65 Million for Supervisory Failures in Variable Annuity, Mutual Fund and UIT Transactions. Five Firms Sanctioned, One Charged with Unsuitable VA Sales to the Elderly Washington, D.C. — The Financial Industry Regulatory Authority (FINRA) announced today that it fined five bank broker-dealers a total of $1.65 million for deficient supervision and…
Washington, D.C. – The Financial Industry Regulatory Authority (FINRA) announced today that it has imposed a $250,000 fine against J.P. Turner & Company, LLC of Atlanta, GA, for failing to have an adequate supervisory system designed to ensure that its registered representatives charged customers fair and reasonable commissions on stock trades. As part of the…
PHILADELPHIA – PA Nicholas J. Guiliano of the Guiliano Law Group, P.C., in Philadelphia, Pennsylvania announced today he is actively investigating and pursuing fraud claims against certain securities broker-dealers resulting from the risky or unsuitable recommendation of the securities of certain financial institutions. Tens of Billions Lost in Securities Investment Trusts, Labor Unions, Pension Funds,…
In a superficial effort to avoid Congress enacting the Arbitration Fairness Act, in response to the perceived corruption of the arbitration process by FINRA, a “self”-regulatory organization consisting of the same brokerage firms that are the defendants or respondents in these cases, announced that it will launch a two-year pilot program later this fall. The pilot program…
General Description of Auction Rate Securities Auction rate securities were first offered for sale in U.S. financial markets in the early 1980s. As of the end of 2005, there were approximately $263 billion of auction rate securities outstanding. Many different types of issuers have issued auction rate securities for example, closed-end funds, corporations, municipal authorities…
NYSE HEARING BOARD DECISION 07-143 September 7, 2007 Citigroup Global Markets Inc. Violated NYSE Rule 401(a) by failing to ensure delivery of prospectuses in connection with sales of registered securities in violation of Section 5(b)(2) of Securities Act of 1933 and to deliver trade confirmations to certain customers; violated NYSE Rule 1100(b) by failing to…
NEW YORK STOCK EXCHANGE LLC NYSE HEARING BOARD DECISION 07-129 September 7, 2007 BANC OF AMERICA SECURITIES LLC MEMBER ORGANIZATION Violated NYSE Rule 401(a) by failing to ensure delivery of prospectuses in connection with sales of registered securities in violation of Section 5(b)(2) of Securities Act of 1933; violated NYSE Rule 1100(b) by failing to…
NEW YORK STOCK EXCHANGE LLC NYSE HEARING BOARD DECISION 07-116 September 7, 2007 WACHOVIA CAPITAL MARKETS LLC MEMBER ORGANIZATION Violated NYSE Rule 1100(b) by failing to deliver product descriptions to customers that purchased Exchanged Traded Funds; violated NYSE Rule 342 by failing to provide for, establish, and maintain appropriate procedures of supervision and control, including…