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Christopher T. Joseph, of Toledo, Ohio, a stockbroker formerly registered with Royal Alliance Associates Inc., has been fined $10,000.00 and suspended for six months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that he engaged in private securities transactions and outside business activities when he was employed…

Frank Mastrosimone of Basking Ridge New Jersey a stockbroker formerly registered with Royal Alliance Associates is the subject of a customer initiated investment related FINRA securities arbitration claim in which the customer requested $100,000.00 in damages supported by accusations that they had been placed into an unsuitable private investment fund by Mastrosimone while he was…

John Henry Swon IV of Bloomington Minnesota a stockbroker formerly registered with Royal Alliance Associates Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that he chose not to provide documents and information to FINRA when it investigated him for possibly misappropriating a customer’s…

Kimberly Pine Kitts of Palmer Massachusetts a stockbroker formerly registered with Royal Alliance Associates Inc. is the subject of a customer initiated investment related complaint which was resolved for $232,761.77 in damages on October 17, 2019 based upon accusations that the customer had been defrauded by the stockbroker during the time that she was associated…

Gary David Ginsberg of West Orange New Jersey a stockbroker formerly registered with Royal Alliance Associates Inc. is the subject of a customer initiated investment related FINRA securities arbitration claim in which the customer requested $100,000.00 in damages founded on allegations that the customer was sold an unsuitable real estate security during the period that…

Matthew William Crafa of Garden City New York a stockbroker currently associated with Royal Alliance Associates Inc. has been referenced in a customer initiated investment related arbitration claim in which the customer requested damages estimated to exceed $5,000.00 supported by allegations that a fiduciary duty that was owed to the customer had been breached and…

Darrin Barton Farrow of Rocky River Ohio a stockbroker formerly registered with Royal Alliance Associates is the subject of a customer initiated investment related written complaint on February 19, 2020 where the customer sought $350,000.00 in damages based upon accusations that the customer was placed into an unapproved investment by Farrow during the time that…

Harold Alan Schwartz (also known as Hal Schwartz) of Lutz Florida a stockbroker formerly registered with Royal Alliance Associates is the subject of a customer initiated investment related written complaint on January 27, 2020 where the customer sought damages estimated to exceed $5,000.00 based upon accusations that the customer was placed into a unsuitable investment…

Gary David Ginsberg of West Orange New Jersey a stockbroker registered with Royal Alliance Associates Inc. is the subject of a customer initiated investment related arbitration claim which has been settled for $12,500.00 in damages based upon allegations that real estate security transactions effected by the stockbroker at Royal Alliance Associates were not suitable given…

Steven Farr Davis (also known as Steve Davis) of Wakefield Massachusetts a stockbroker registered with Royal Alliance Associates Inc. has been ordered to (1) cease and desist from violating securities laws or regulations (2) pay a $20,000.00 fine (3) disgorge ill-gotten gains and (4) refrain from seeking registration as a stockbroker or investment adviser representative…

Royal Alliance Associates a securities broker dealer headquartered in Jersey City New Jersey has been censured and fined $400,000.00 by Financial Industry Regulatory Authority (FINRA) based upon consenting to findings that the securities broker dealer neglected to supervise its business practices to protect against theft of customer assets. Letter of Acceptance Waiver and Consent No….

Angelo Talebi of Sherman Oaks California a stockbroker formerly employed by Independent Financial Group LLC and Royal Alliance Associates Inc. is the subject of a customer initiated investment related arbitration claim in which the customer requested between $100,000.00 and $500,000.00 in damages supported by accusations that (1) false or misleading statements had been made by…

Harold Alan Schwartz of Lutz Florida a stockbroker formerly employed by Royal Alliance Associates Inc. has been terminated from the securities broker dealer on February 1, 2019 based upon allegations that Schwartz violated its procedures or policies through his unauthorized transactions pertaining to a customer’s investment account. Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms…

Gary John Basralian of Maplewood New Jersey a stockbroker formerly employed by Royal Alliance Associates Inc. has been suspended on April 23, 2019 from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on accusations that Basralian failed to comply with a FINRA Arbitration Award in which he was ordered to…

Frank John Capuano of Holyoake Massachusetts a stockbroker formerly registered with Royal Alliance Associates Inc. is the subject of a customer initiated investment related arbitration claim which was settled for $100,000.00 in damages supported by accusations that the customer had been placed into unauthorized investments which were part of a Ponzi Scheme. Financial Industry Regulatory…

Darrin Barton Farrow of Rocky River Ohio a stockbroker formerly employed by Royal Alliance Associates Inc. is the subject of a customer initiated investment related arbitration claim in which the customer sought $250,000.00 in damages supported by allegations that the customer was sold unregistered securities during the time Farrow was associated with Royal Alliance Associates…

Erven Joseph Frericks Jr. of Chesterfield Missouri a stockbroker formerly employed by Royal Alliance Associates Inc. has been discharged by the firm on May 11, 2018 supported by allegations that Frericks urged a customer to designate him as the beneficiary of half of the assets held in the customer’s annuity account. Financial Industry Regulatory Authority…

James Edward Armstrong Sr. and his son James Edward Armstrong Jr. both of Wake Forest North Carolina and stockbrokers formerly registered with Royal Alliance Associates Inc. were fined and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that they failed to adequately supervise a…

Barbara Jean Hedblom of Edina Minnesota a stockbroker formerly employed by Ameriprise Financial Services Inc. has been terminated on June 27, 2018 based upon allegations that Hedblom resigned during the time that she had been suspended for not complying with the firm’s imposition of a disciplinary action. Hedblom was apparently placed on heightened supervision but…

Royal Alliance Associates Inc. a brokerage firm headquartered in New York New York has been censured and fined $350,000.00 by Financial Industry Regulatory Authority (FINRA) based upon the firm’s consent to findings that it (1) failed to supervise and train its registered representatives regarding their multi-share class variable annuity sales and (2) ineffectively supervised the…

Jonathan D. Bao of Tarzana California a stockbroker formerly registered with Royal Alliance Associates Inc. is the subject of customer initiated investment related arbitration claim which settled for $700,000.00 in damages supported by accusations of (1) breach of contract (2) breach of fiduciary duty and (3) negligence relating to the customer’s investments in exchange traded…

Gary John Basralian of Maplewood New Jersey is a stockbroker formerly registered with Royal Alliance Associates, Inc. who has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity by consenting to findings that he failed to cooperate in a FINRA investigation into allegations of Basralian having committed securities fraud….

Bill Alfons Holubec, of San Angelo, Texas, a stockbroker formerly registered with Royal Alliance Associates, Inc., is the subject of a customer initiated investment related arbitration claim, in which the customer requested $500,000.00 in damages supported by allegations that Holubec effected unsuitable transactions in the customer’s account and made misrepresentations to the customer concerning non-traditional…

Mark S. Perry, of Mt. Pleasant, South Carolina, a stockbroker formerly registered with Royal Alliance Associates, Inc., has been suspended for eighteen months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity by consenting to findings that he made unsuitable investment recommendations to customers. Letter of Acceptance, Waiver and Consent, No….

Kathleen Jeanette Tarr, of Lafayette, California, a stockbroker formerly registered with Royal Alliance Associates, Inc., has been named in a customer initiated investment related arbitration claim, which settled on February 27, 2017, for $550,000.00 in damages based upon allegations that Tarr made unsuitable investment recommendations to the customer regarding real estate securities. Financial Industry Regulatory…

Shimshon Plotkin, of Chevy Chase, Maryland, a stockbroker currently registered with Independent Financial Group, LLC, has been named in a customer initiated investment related arbitration claim on June 20, 2016, in which the customer requested $1,000,000.00 in damages based upon allegations that Plotkin effected unsuitable transactions in the customer’s account, breached his fiduciary and contractual…

Phillip Leung Wong, of Wayland, Massachusetts, a stockbroker currently registered with Royal Alliance Associates, Inc., has been named in a customer initiated investment related written complaint on January 26, 2017, based upon allegations that Wong made unsuitable investment recommendations to the customer concerning exchange traded fund and stock transactions, which caused the customer to sustain…

Bill Alfons Holubec, of Des Moines, Iowa, a stockbroker formerly registered with Royal Alliance Associates, Inc., has been named in a customer initiated investment related arbitration claim on January 9, 2017, in which the customer requested $500,000.00 in damages based upon allegations that Holubec effected unsuitable transactions in the customer’s account and made misrepresentations to…

Gerald Tagge, of Omaha, Nebraska, a stockbroker currently registered with Cetera Advisors LLC, has been named or tagged in a customer initiated investment related written complaint on September 30, 2015, in which the customer requested $125,000.00 in damages based upon allegations that Tagge solicited and ultimately accepted promissory notes from the customer outside the auspices…

Roger Deal, of Columbus, Nebraska, a stockbroker formerly associated with Royal Alliance Associates, Inc., has been subject to a customer initiated investment related arbitration claim, in which multiple customers have collectively requested $3,200,000.00 in damages based upon allegations that Deal effected unsuitable investment recommendations, made misrepresentations, as well as failed to conduct due diligence in…

Darrin B. Farrow, of Rocky River, Ohio, a registered representative with Royal Alliance Associates, Inc., was fined $25,000.00 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 several unauthorized private securities transactions. Letter of Acceptance, Waiver and…

Frank John Capuano, of Holyoke, Massachusetts, a stockbroker with Royal Alliance Associates, Inc., was fined $10,000.00 and suspended for a year from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that he engaged in unauthorized private securities transactions. Letter of Acceptance, Waiver and Consent, No. 2015046273001…

Royal Alliance Associates, Inc. was censured and fined $225,000 by Financial Industry Regulatory Authority (FINRA) for failing to apply sales charge discounts to certain customers’ eligible purchases of unit investment trusts (“UITs”) in violation of FINRA Rule 2010; as well as failing to establish, maintain and enforce a supervisory system and written supervisory procedures reasonably…