Johnathan Paul Hagood, of Los Angeles, California, a stockbroker registered with Wells Fargo Clearing Services LLC, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because Hagood failed to respond to FINRA requests for information. FINRA Case No. 2023077635001 (January 8, 2024). On October 3, 2023, FINRA initiated…
Paul Francis Trimber, of Alexandria, Virginia, a stockbroker registered with Wells Fargo Clearing Services LLC, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because Trimber failed to cooperate in a FINRA investigation into whether he potentially made “unauthorized transfers of customer funds” to recipients outside of the…
John D. Cimino of Naples, Florida, a stockbroker formerly registered with Wells Fargo Advisors is the subject of a customer initiated investment related FINRA securities arbitration claim in which the customer requested $648,745.00 in damages based upon allegations that Cimino engaged in unsuitable trading in variable annuities when Cimino was associated with Wells Fargo Advisors…
Louis Peter Goff, of Salt Lake City, Utah, a stockbroker formerly registered with Wells Fargo Clearing Services LLC, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because he refused to cooperate in the regulator’s investigation into allegations of potential fraud. Letter of Acceptance, Waiver, and Consent No….
Joe David Gainer Jr., of Marianna, Florida, a stockbroker formerly registered with Wells Fargo Clearing Services LLC, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because Gainer failed to testify in an investigation into whether Gainer violated FINRA rules. Letter of Acceptance, Waiver, and Consent No. 2022075621801…
Ralph Dennis Courtland, of Fairfield, New Jersey, a stockbroker registered with Wells Fargo Clearing Services LLC, is the subject of a customer initiated investment related FINRA securities arbitration claim in which the customer requested damages in excess of $1,000,000.00 based upon allegations that Courtland failed to supervise a financial advisor from April of 2012 through…
Charles D. Shields Jr. of Wayne, Pennsylvania, a stockbroker associated with Wells Fargo Clearing Services LLC, has been fined $5,000.00 and suspended for 15 days from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because Shields engaged in unauthorized trading by exercising discretion in a customer’s account without prior written authorization…
Hector Alberto Mena, of Delray Beach, Florida, a stockbroker associated with Wells Fargo Clearing Services, was the subject of a customer initiated investment related Financial Industry Regulatory Authority (FINRA) securities arbitration claim in which the customer requested approximately $300,000.00 in compensatory damages, as well as punitive damages, based on allegations that Mena provided unsuitable recommendations…
Andrew Matthew Polis, of Philadelphia, Pennsylvania, a stockbroker associated with Wells Fargo Advisors, was the subject of a customer initiated investment related complaint filed on July 18, 2023, in which the customer requested compensatory damages based upon allegations that Polis placed the customer in CDs that had a longer term than the customer asked for…
Donald Norman Rich of Old Greenwich, Connecticut, a stockbroker associated with Wells Fargo Clearing Services LLC, was the subject of a customer initiated investment related Financial Industry Regulatory Authority (FINRA) securities arbitration claim that was settled for $20,000.00 in damages based upon allegations that Rich supposedly failed to follow the customer’s instructions “beginning in 2018.”…
John Joseph Pasacreta Jr. (also known as John Charles Pasacreta), of Greenwich, Connecticut, a stockbroker registered with Wells Fargo Clearing Services LLC, is the subject of a customer initiated investment related complaint filed on May 31, 2023, in which the customer requested $58,826.10 in damages based upon allegations that Pasacreta made misrepresentations of material fact…
Daniel Arthur Evans of Seattle, Washington, a stockbroker registered with Wells Fargo Clearing Services LLC, is the subject of a customer initiated investment related Financial Industry Regulatory Authority (FINRA) securities arbitration claim in which the customer requested $10,000,000.00 in damages based upon allegations that Evans made unsuitable investment recommendations when Evans was associated with Wells…
Michael Steven Yarus (also known as Michael Steven Yarus), of Paramus, New Jersey, a stockbroker registered with Wells Fargo Clearing Services LLC, has been discharged by the securities broker dealer on January 25, 2023, based upon allegations that Yarus engaged in unauthorized trading. Financial Industry Regulatory Authority (FINRA) Public Disclosure shows that Yarus is referenced…
Steven Andrew Hill (also known as Andy Hill), of Atwater, California, a stockbroker registered with Wells Fargo Clearing Services LLC, is the subject of a customer initiated investment related Financial Industry Regulatory Authority (FINRA) securities arbitration claim in which the customer requested compensation based upon allegations that Hill made misrepresentations of material fact in connection…
Brad Michael Jacobson of Linwood, New Jersey, a stockbroker registered with Wells Fargo Clearing Services LLC, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because Jacobson failed to provide information and documents to FINRA during the time that it investigated possible violations of FINRA rules. Letter of…
Helen Grace Caldwell of Chicago, Illinois, a stockbroker formerly registered with Wells Fargo Clearing Services LLC, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that she failed to cooperate with FINRA’s investigation into her potential outside business activities. Letter of Acceptance, Waiver,…
Sevag Raffi Haddadian, of Brea, California, a stockbroker registered with Wells Fargo Clearing Services LLC, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because Haddadian failed to respond to FINRA’s request for information. Letter No. 2022073907601 (January 23, 2023). FINRA’s bar followed its Suspension Notice and Suspension…
Leigh Eran Einhorn (also known as Lee Einhorn) of West Caldwell, New Jersey, a stockbroker registered with Wells Fargo Clearing Services LLC, was the subject of a customer initiated investment related complaint that was settled on April 14, 2023, to resolve allegations that Einhorn made omissions of material fact and made unsuitable investment recommendations of…
Anthony Michael Tassone, of Springfield, Massachusetts, a stockbroker registered with Wells Fargo Clearing Services LLC, was the subject of a customer initiated investment related complaint filed on October 24, 2022, in which the customer requested compensation based upon allegations that Tassone caused the customer to believe that their principal would not be reduced in an…
Scott Wayne Reed of Scottsdale, AZ, a stockbroker registered with Wells Fargo Clearing Services LLC, has been fined $50,000.00 and barred as a stockbroker by the state of Arizona because Reed failed to make regulatory disclosures and he engaged in private securities transactions. Letter of Acceptance, Waiver, and Consent No. S-21132A-20-0370 (March 24, 2022). Reed…
Regan Allen Rohl, of Fargo, ND, a stockbroker registered with Wells Fargo Advisors Financial Network LLC, was the subject of a customer initiated investment related FINRA securities arbitration claim that was settled for $2,025,000.00 in damages based upon allegations that Rohl engaged in unauthorized trading and made unsuitable recommendations of Master Limited Partnerships “MLPs” during…
David Roger Hirons of San Diego, California, a stockbroker registered with Wedbush Securities Inc., was the subject of a customer initiated investment related FINRA securities arbitration claim that was settled for $65,000.00 in damages based upon allegations of trading execution errors during the time that Hirons was associated with Wedbush Securities Inc. Financial Industry Regulatory Authority…
Kenneth William Biebel of Westport, Connecticut, a stockbroker formerly registered with David Lerner Associates Inc., was the subject of a customer initiated investment related Financial Industry Regulatory Authority (FINRA) securities arbitration claim that was settled for $10,000.00 in damages based upon allegations that Biebel made unsuitable investment recommendations in connection with the sale of private…
Solomon Wei-En Hua of West Covina, California, a stockbroker registered with Wells Fargo Clearing Services LLC has been fined $15,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity for one year based upon allegations that Hua made unsuitable investment recommendations to his customers. FINRA Enforcement (AWC) No. 2018058988301…
Andrew Muncy of Louisville, Kentucky, a stockbroker registered with Wells Fargo Clearing Services LLC, is the subject of a customer initiated investment related complaint on December 13, 2021 in which the customer requested $11,258.14 in damages based upon allegations that Muncy made misrepresentations in connection with the recommendation to sell certain securities. The securities evidently…
Marcelo Javier Poliak of Miami, Florida, a stockbroker registered with Wells Fargo Advisors LLC, is the subject of a customer initiated investment related complaint on July 10, 2017 in which the customer requested $27,427.95 in damages based upon allegations that Poliak made omissions and misstatements of material fact in connection with the recommendation and sale…
Dudley Franklin Stephens (also known as Stephen Franklin Dudley), of New York, New York, a stockbroker registered with Coastal Equities Inc., has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based based upon the findings that Stephens failed to pay a FINRA arbitration award entered against him by…
Vincent Maley Weir, of Houston, Texas, a stockbroker registered with Wells Fargo Clearing Services LLC, is the subject of a customer initiated investment related Financial Industry Regulatory Authority (FINRA) securities arbitration claim in which the customer requested compensatory damages based upon allegations that Weir made unsuitable recommendations with regard to the sale of direct investments…
Yan Binder of Coral Springs, Florida, a stockbroker formerly registered with Wells Fargo Advisors Financial Network LLC, has been fined $10,000.00 and suspended for thirty days from associating with any FINRA member in any capacity based upon allegations that Binder used unauthorized devices to communicate with customers. Letter of Acceptance Waiver and Consent No. 2019064955001…
Mark Whitney Tuller of Atlanta, Georgia, a stockbroker currently registered with Wells Fargo Clearing Services LLC is the subject of a customer initiated investment related complaint on March 14, 2022, in which the customer requested compensatory damages based upon allegations that Tuller mismanaged the customer’s account in connection with the recommendation and sale of stocks…
Vladislav Michael Romanov of Boston, Massachusetts, a stockbroker formerly registered with Wells Fargo Advisors LLC, is the subject of a customer initiated investment related complaint on February 24, 2022, in which the customer requested $52,000.00 in damages based upon allegations that Romanov placed the customer in underperforming foreign equities when Romanov was associated with Wells…
Robert Charles Mehlin of Fairfield, New Jersey, a stockbroker formerly registered with Wells Fargo Advisors Financial Network LLC has been fined $7,500.00 and suspended for three months from associating with any FINRA member in any capacity based upon allegations that Mehlin engaged in unauthorized trading and used unauthorized communications devices to correspond with customers. Letter…
Herbert Lee Weith IV of Naples, Florida, a stockbroker formerly registered with Wells Fargo Clearing Services LLC, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity for failing to respond to a request for information. FINRA Case No. 2019064197601 (January 10, 2022). According to FINRA Public Disclosure, Weith…
Tina Michele Bryant (also known as Tina Bryant Cooper and as Tina Rowland Bryant) of Greenville, South Carolina, a stockbroker currently registered with Truist Investment Services Inc., is referenced in a customer initiated investment related written complaint on March 5, 2021, in which the customer requested $21,330.03 in damages because Bryant allegedly failed to follow…
Jeremy W. Fortner of Beverly Hills, California, a stockbroker formerly registered with Wells Fargo Advisors LLC, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because Fortner failed to respond to FINRA’s request for information. Case No. 2021072176101 (March 3, 2022). FINRA Public Disclosure shows that on December…
Kenneth Andrews Welsh of Fairfield, New Jersey, a stockbroker formerly registered with Wells Fargo Advisors LLC, is identified in a customer initiated investment related FINRA securities arbitration claim where the customer sought $1,857,001.59 in damages based upon allegations of unsuitable indexed annuity contracts for the customer when Welsh was associated with Wells Fargo Advisors. Financial…
Kaival Patel of Hackensack, New Jersey, a stockbroker formerly registered with Stifel Nicolaus Company, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings that Patel was uncooperative with FINRA’s investigation into allegations of Patel committing fraud. Letter of Acceptance, Waiver, and Consent No. 2022074024401 (May…
Shawn Edward Good of Wilmington, North Carolina, a stockbroker formerly registered with Morgan Stanley, has been charged by Securities and Exchange Commission (SEC) with operating a Ponzi scheme causing $2,000,000.00 in losses to investors. SEC v. Shawn Good, Case No. 7:22-cv-00060 (April 18, 2022). According to the Complaint, between December 2012 and February of 2022,…
Scott Thomas Wolfrum of Indianapolis, Indiana, a stockbroker formerly registered with David Noyes Company, is the subject of a customer initiated investment related FINRA arbitration claim in which the customer sought between $100,000.00 and $500,000.00 in damages based upon allegations that unsuitable recommendations were made to the customer by Wolfrum concerning alternative investments, including real…
Scott Wayne Reed of Scottsdale, Arizona, a stockbroker formerly registered with First Financial Equity Corporation, is referenced in a customer initiated investment related written complaint on September 15, 2021, where the customer sought compensatory damages based upon accusations of the customer being recommended unapproved outside investments by Reed when he was associated with Wells Fargo…
Paul Warren Vizanko of Duluth, Minnesota, a stockbroker formerly registered with Wells Fargo Clearing Services LLC, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that Vizanko failed to respond to FINRA’s request for information regarding the borrowing and misappropriation of customer funds. Case No….
Jonathan Ben Mirer, of Henderson, Nevada, a stockbroker formerly registered with Wells Fargo Advisors, is referenced in a customer initiated investment related FINRA securities arbitration claim where the customer requested more than $75,000.00 in damages based upon accusations of their account being overconcentrated by Mirer in unsuitable investments when Mirer was registered with Wells Fargo…
Wells Fargo Clearing Services and Wells Fargo Advisors Financial Network, of St. Louis, Missouri, have been censured and collectively fined $650,000.00 by Financial Industry Regulatory Authority (FINRA) based on findings that Wells Fargo failed to supervise stockbrokers’ unit investment trust trades in customer accounts. Letter of Acceptance, Waiver, and Consent No. 2016050947801 (December 13, 2021)….
Scott Alan Kaufman, of Wyomissing, Pennsylvania, a stockbroker formerly registered with LPL Financial LLC, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based on findings that he failed to comply with FINRA’s investigation into accusations of his improper fixed income trading strategy while he was employed by…
Kenneth Andrews Welsh, of Fairfield, New Jersey, a stockbroker formerly registered with Wells Fargo Clearing Services, LLC, has been charged by Securities and Exchange Commission (SEC) with fraudulently misappropriating funds while he was associated with Wells Fargo Clearing Services. Civil Action No. 2:21-cv-19387 (Oct. 28, 2021). According to the Complaint, more than $2,860,000.00 had been…
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…
Frank Jose Ortiz (also known as Francisco Jose Ortiz), of Los Angeles, California, a stockbroker and investment adviser representative of Wells Fargo Clearing Services, is the subject of a customer initiated investment related FINRA securities arbitration claim which was settled for $52,500.00 in damages supported by accusations of Ortiz omitting risks relating to the customer’s…
Michael John Ovitt, of Williamsville, New York, a stockbroker formerly registered with Wells Fargo Clearing Services LLC, is referenced in a customer initiated investment related written complaint which was settled for $48,800.00 on February 25, 2020, founded on accusations of Ovitt’s unauthorized trading of Allied Motion stock in the customer’s account between 2017 and 2018…
Herbert H. Hafen (also known as Elias Herbert Hafen, Elias Niggebrugge, and E. Herbert Niggebrugge), of New York, New York, a stockbroker formerly registered with Morgan Stanley Smith Barney, is referenced in a customer initiated investment related written complaint which was settled for $20,000.00 in damages on October 13, 2020, based upon allegations of unsuitable…
Lee Victor Nordstrom of Spokane Washington a stockbroker formerly registered with Vorpahl Wing Securities 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 a FINRA investigation regarding his activities while associated with Vorpahl Wing Securities. Letter of Acceptance Waiver…
Robert Nathan Schultz of Houston Texas a stockbroker formerly registered with Wells Fargo Clearing Services is referenced in a customer initiated investment related complaint on July 14, 2020, in which the customer requested $35,000.00 in damages founded upon allegations that they had been placed into aggressive investments by Schultz during the time that he was…
Thomas Boley Hunt of Twin Falls Idaho a stockbroker currently registered with Wells Fargo Advisors is the subject of a customer initiated investment related written complaint which was resolved for $20,000.00 in damages on July 22, 2020 supported by allegations that Hunt’s transactions at Wells Fargo Advisors were not suitable for the customer. Hunt has…
John Mark Ross of Missoula Montana a stockbroker formerly registered with US Bancorp Investments Inc. is the subject of a customer initiated investment related written complaint which was resolved for $127,210.30 in damages on January 9, 2019 founded on allegations of unauthorized trading by Ross while he was associated with Wells Fargo Advisors. According to…
Roger Lowell Wilkie of Overland Park Kansas a stockbroker and investment adviser representative of Wells Fargo Clearing Services has been discharged from employment on March 17, 2021 founded on accusations of Wilkie being involved in an unauthorized transaction involving the liquidation of securities from a customer’s account. Wilkie has been identified in six customer initiated…
Adam Thomas Marquardt of Rochester Minnesota a stockbroker formerly registered with Wells Fargo Advisors Financial Network has been terminated on July 22, 2020 founded on accusations that he executed unauthorized transactions to address losses incurred by customers. Financial Industry Regulatory Authority (FINRA) Public Disclosure also confirms that Marquardt is referenced in a customer initiated investment…
Hung Sam (also known as Sam T. Hung and as Hung Tuan Sam) a stockbroker formerly registered with Wells Fargo Clearing Services LLC 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 findings that Sam borrowed funds from a customer…
Gordon Leonard Bryan of Terre Haute Indiana a stockbroker formerly registered with Wells Fargo Clearing Services LLC 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 on findings that he engaged in undisclosed outside business activities involving customers of the securities…
Joseph Patrick Roop (also known as Joe Pat Roop) of Belmont North Carolina a stockbroker formerly registered with Kalos Capital Inc. is referenced in a customer initiated investment related FINRA securities arbitration claim which was settled for $25,000.00 in damages based upon accusations that the customer received unsuitable investment recommendations from Roop concerning real estate…
Scott Wayne Reed of Scottsdale Arizona a stockbroker formerly registered with Wells Fargo Clearing Services LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings of Reed taking part in $3,500,000.00 worth of private securities transactions during the time that he was associated with Wells…
William Lief Collins (also known as Bill Collins) of Birmingham Michigan a stockbroker currently registered with Morgan Stanley is the subject of a customer initiated investment related FINRA securities arbitration claim in which the customer requested $800,000.00 in damages supported by accusations that unauthorized trades were executed in the customer’s account between March 1, 2019…
John Perrin Kellar of Fort Lauderdale Florida a stockbroker and investment adviser representative of Wells Fargo Advisors Financial Network LLC is the subject of a customer initiated investment related complaint on April 6, 2020 in which the customer sought more than $5,000.00 in damages founded on allegations that they were placed into unsuitable investments by…
Herbert Lee Weith IV of Naples Florida a stockbroker formerly registered with Wells Fargo Clearing Services LLC is the subject of a customer initiated investment related FINRA securities arbitration claim in which the customer sought $260,000.00 in damages supported by accusations of the stockbroker’s unsuitable recommendations as it pertained to a mutual fund and annuity…
Richard Clarence DeYoung Jr. of The Woodlands Texas a stockbroker and investment adviser representative of Wells Fargo Clearing Services is referenced in a customer initiated investment related written complaint on March 12, 2020 in which the customer sought more than $5,000.00 in damages supported by allegations that unauthorized transactions were executed in the customer’s account…
John William Hoekman of New York New York a stockbroker formerly registered with Wells Fargo Advisors LLC is referenced in a customer initiated investment related FINRA securities arbitration claim where the customer sought between $100,000.00 and $500,000.00 in compensatory or punitive damages based upon accusations of unsuitable over-the-counter equities being recommended for the customer’s investment…
Jeffrey Lamar Burton of Charleston South Carolina a supervising stockbroker of Wells Fargo Advisors Financial Network is referenced in a customer initiated investment related written complaint which was settled for $100,000.00 on September 17, 2020 founded on allegations that trades failed to be made according to the customer’s instructions while Burton was registered with Wells…
Jeffrey Clay Templeman of Norfolk Virginia a stockbroker currently registered with Wells Fargo Advisors has been referenced in a customer initiated investment related written complaint on March 15, 2019 where the customer requested unspecified damages founded on allegations that the customer had been steered by Templeman towards investing in mutual funds without being provided clarity…
Wells Fargo Clearing Services LLC a securities broker dealer headquartered in Saint Louis Missouri has been censured and fined $625,000.00 by Financial Industry Regulatory Authority (FINRA) supported by findings that Wells Fargo failed to supervise the suitability of customers’ switches from variable annuities to other investment products through transactions initiated by Wells Fargo stockbrokers. Letter…
Joseph Hersey Pratt (also known as Joseph Butcher and as J.H. Pratt) of Conshohocken Pennsylvania a stockbroker formerly employed by Stifel Nicolaus is the subject of a customer initiated investment related arbitration claim where the customer sought $232,000.00 in damages founded upon allegations of the violation of Section 517 of the Florida Securities and Investor…
Ramon Arturo Herrera of Jersey City New Jersey a stockbroker and financial advisor formerly registered with Wells Fargo Clearing Services LLC is the subject of a New Jersey Bureau of Securities Order dated October 18, 2019 in which Herrera’s stockbroker and investment adviser representative registrations in the State of New Jersey have been revoked based…
Wells Fargo Advisors LLC a securities broker dealer headquartered in Saint Louis Missouri has been censured and fined $350,000.00 based upon findings that it failed to supervise two stockbrokers who made unsuitable recommendations to customers regarding energy securities causing customers to experience losses. Letter of Acceptance Waiver and Consent No. 2015045713304 (Aug. 28, 2020). According…
Thomas Von Reckers (also known as Tom VonReckers) of Lakewood Colorado a stockbroker formerly employed by Wells Fargo Advisors Financial Network is referenced in a customer initiated investment related arbitration claim which was settled for $90,000.00 in damages founded on accusations that a fiduciary duty that was owed to the customer had been breached and…
Jonathan Richard Lake (also known as Jon Lake) of Stamford Connecticut a stockbroker formerly registered with Wells Fargo Clearing Services LLC has been discharged on December 2, 2019 based upon accusations that the stockbroker procured funds from a customer in violation of company policy. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Lake has…
E. Herbert H. Hafen (also known as Elias Herbert Hafen and as Elias Herbert Niggebrugge) of New York New York a stockbroker formerly registered with Wells Fargo Clearing Services LLC has been barred from being a stockbroker or an investment adviser representative according to a Securities and Exchange Commission (SEC) Order based on findings of…
Robert Patton Stansberry (also known as Patt Stansberry) of Columbia Montana a stockbroker and financial advisor formerly registered with Wells Fargo Advisors Financial Network LLC and Cutter Company 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 based upon findings that…
Dudley Franklin Stephens (also known as Stephen Franklin Dudley) of New York New York a stockbroker formerly registered with Prospera Financial Services and Coastal Equities is the subject of a customer initiated investment related arbitration claim which was resolved for $122,500.00 in damages based upon accusations that the customer had been placed into unsuitable investments…
Wilfred Rodriguez Jr. of Boca Raton Florida a stockbroker formerly associated with Wells Fargo Advisors has been referenced in a customer initiated investment related written complaint on December 14, 2019 in which the customer requested $3,600,000.00 in damages supported by allegations of misappropriation and unauthorized transactions during the period in which Rodriguez was employed by…
Sam Aziz (also known as Sam Azizieh and as Sam Yehya) of Dublin Ohio a stockbroker formerly registered with Coastal Equities Inc. is the subject of a Ohio Division of Securities Order in which his stockbroker registration has been revoked based upon allegations that (1) Aziz effected trades that were not suitable for a customer…
Gregory Alan Ricker of Boca Raton Florida a stockbroker formerly associated with Westpark Capital Inc. has been fined $5,000.00 and suspended for six months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that he engaged in private securities transactions without the securities broker dealer’s approval. Letter of…
Kevin Fredrick Williams of San Diego California a stockbroker formerly registered with Wells Fargo Clearing Services LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that he neglected to cooperate with FINRA’s request for his information. Case No. 2019062134601 (May 26, 2020). According to…
Leslie Anne Juron of Sarasota Florida a stockbroker and investment adviser representative of Wells Fargo Clearing Services has been identified in a customer initiated investment related written complaint on July 22, 2019 where the customer sought more than $5,000.00 in damages founded on accusations that the customer had been overcharged by Juron on investments held…
Joseph Patrick Roop (also known as Joepat Roop) of Belmont North Carolina a stockbroker formerly employed by Kalos Capital Inc. has been identified in a customer initiated investment related written complaint which was resolved for $17,500.00 in damages on January 29, 2020 founded on accusations that the customer was placed into unsuitable real estate securities…
Scott Wayne Reed of Scottsdale Arizona a stockbroker formerly employed by Wells Fargo Clearing Services LLC has been terminated on April 7, 2020 founded on accusations of him advising customers of Wells Fargo Advisors to purchase investments that were neither offered nor approved by the securities broker dealer. According to Wells Fargo, customers’ investment transactions…
Leonard Charles Kinsman (Lenny Charles Kinsman) of Staten Island New York a stockbroker formerly associated with Wells Fargo Advisors Financial Network LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that he intentionally failed to comply with FINRA when he was investigated for complaints…
Sanjay Mathur (also known as Sanjay Mather) of Newport Beach California a stockbroker currently employed by Wells Fargo Advisors has been identified in a customer initiated investment related complaint on December 9, 2019 where the customer sought unspecified damages founded on accusations including that the customer was advised to buy foreign equities prior to there…
Jeff Anton Nizich a stockbroker associated with U.S. Bancorp Investments has been referenced in a customer initiated investment related complaint on September 12, 2019 in which the customer requested damages estimated to exceed $5,000.00 based upon allegations that due diligence was not adequately performed prior to mutual fund transactions being effected by the stockbroker during…
Regan Allen Rohl of Fargo North Dakota a stockbroker formerly employed by Wells Fargo Advisors Financial Network LLC has been discharged on March 11, 2020 based upon allegations that he traded in Wells Fargo customer accounts without authorization and did not abide by the expectations that Wells Fargo set forth while he was under heightened…
Charles Bernard Lynch Jr. (also known as Charlie Bernard Lynch) of Irvine California a stockbroker formerly employed by Wells Fargo Advisors LLC (now known as Wells Fargo Clearing Services LLC) has been identified in a customer initiated investment related complaint which was resolved on January 18, 2019 for $50,000.00 in damages founded on accusations that…
Gregory Alan Ricker of Boca Raton Florida a stockbroker registered with WestPark Capital Inc. is the subject of a customer initiated investment related complaint which was resolved on September 17, 2019 for $22,500.00 in damages based upon accusations that transactions were unsuitable for the customer and that the customer’s equity portfolio had been churned by…
Vincent Charles Meleco of Albany New York a stockbroker registered with Wells Fargo Advisors LLC is the subject of a customer initiated investment related complaint on September 24, 2019 in which the customer requested $123,000.00 in damages based upon allegations that omissions were made to the customer by the stockbroker and that the customer had…
Charles Henry Frieda, Jr. of Irvine California a stockbroker formerly registered with Wells Fargo Advisors LLC is the subject of a customer initiated investment related complaint which was resolved on February 28, 2019 for $20,000.00 in damages based upon accusations of unsuitable energy securities recommended by the stockbroker between 2014 and 2018 while associated with…
David Roger Hirons of San Diego California a stockbroker formerly registered with Wedbush Securities Inc. is the subject of a customer initiated investment related arbitration claim in which the customer requested $712,080.00 in compensatory damages and $1,000,000.00 in punitive damages based upon allegations of unauthorized options trades that had been effected by Hirons in the…
John Greg Schmidt of Dayton Ohio a stockbroker formerly associated with Wells Fargo Advisors Financial Network LLC has been barred by Securities and Exchange Commission (SEC) from being a stockbroker or investment adviser or otherwise associating with securities broker dealers or investment advisories according to an Order Instituting Administrative Proceedings based upon allegations of Schmidt…
Wells Fargo Advisors LLC (now known as Wells Fargo Clearing Services LLC) a securities broker dealer headquartered in Saint Louis Missouri has been censured and fined $175,000.00 by Financial Industry Regulatory Authority (FINRA) based upon consenting to findings that it failed to supervise a stockbroker who effected excessive trades in an elderly customer’s investment account….
Michael Fisher of Melville New York a stockbroker formerly registered with Wells Fargo Advisors LLC is the subject of a customer initiated investment related arbitration claim in which the customer was awarded $50,000.00 in compensatory damages based upon Wells Fargo Advisors being found liable on the customer’s claims which included that (1) the customer’s account…
Leonard Charles Kinsman of Staten Island New York a stockbroker formerly registered with Wells Fargo Advisors Financial Network LLC is referenced in a customer initiated investment related arbitration claim where the customer requested at least $591,866.69 in damages founded on accusations that (1) customer account documentation contained unauthorized alterations or forged customer signatures (2) investment…
Glen Joseph Webster of Atlanta Georgia a stockbroker formerly registered with Wells Fargo Clearing Services LLC has been suspended for three months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon Webster’s consent to findings that he engaged in a prohibited borrowing arrangement with a customer of Wells Fargo….
Douglas L. Goss of Tulsa Oklahoma a stockbroker formerly employed by Wells Fargo Advisors is referenced in a customer initiated investment related written complaint on July 10, 2019 where the customer requested damages estimated to exceed $5,000.00 supported by allegations that between June 14, 2013 and July 10, 2019, trades were effected in the customer’s…
Regan Allen Rohl of Fargo North Dakota a stockbroker currently employed by Wells Fargo Advisors Financial Network LLC is referenced in a customer initiated investment related arbitration claim which was resolved for $35,000.00 in damages based upon allegations that (1) direct participation program interests or limited partnership interests recommendations were not suitable given the customer’s…
Jeffrey Lamar Burton of Greenville South Carolina a stockbroker currently employed by Wells Fargo Advisors Financial Network is referenced in a customer initiated investment related written complaint which was resolved on November 5, 2019 for $1,550,00.00 on November 5, 2019 supported by allegations that (1) the customer was charged excessive commissions on trades executed in…
Elizabeth Ann Guarino of Woodbury New York a stockbroker formerly registered with Wells Fargo Clearing Services has been fined $10,000.00 and suspended for fifteen months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that (1) Guarino executed unauthorized trades in a customer’s account and (2) Guarino gave…
Jeffrey Alan Eiler of Fort Lauderdale a stockbroker currently employed by Wells Fargo Clearing Services is the subject of a customer initiated investment related arbitration claim that settled for $135,000.00 in damages based upon accusations of the customer’s investment account being overconcentrated by Eiler in unsuitable mutual funds which led the customer to experience investment…
Donald Anthony DeVito II of Albany New York a stockbroker formerly registered with Wells Fargo Advisors is referenced in a customer initiated investment related complaint which was resolved for $47,000.00 in damages on December 14, 2018 based upon allegations of DeVito having mismanaged the customer’s equity portfolio during the time that he was associated with…
Sam Azizieh (also known as Sam Aziz and as Sam Yehya) a stockbroker formerly registered with Wells Fargo Advisors Financial Network LLC is the subject of a customer initiated investment related written complaint on June 27, 2019 where the customer sought $447,000.00 in damages supported by accusations that during the period in which Azizieh was…
Maureen Ann Scalzo (also known as Maureen Ann Hunt) of Danbury Connecticut a stockbroker formerly registered with Benjamin F. Edwards Company Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that Scalzo refused to make an appearance and provide recorded testimony before FINRA personnel…
Todd Joseph Thompson of Atlanta Georgia a stockbroker currently registered with SunTrust Investment Services Inc. is the subject of a customer initiated investment related written complaint on March 27, 2019 where the customer requested $19,367.00 in damages founded on allegations that false or misleading statements were made about terms of an equity indexed annuity that…
Harold Weber of Airmont New York a stockbroker formerly registered with Wells Fargo Advisors LLC is the subject of a customer initiated investment related arbitration claim which was resolved for $15,000.00 in damages based upon allegations that unfounded statements had been made about investments sold to the customer during the period in which Weber was…
James Joseph Beaupre (also known as Jim Beaupre) of Longmont Colorado a stockbroker formerly registered with BancWest Investment Services Inc. is referenced in a customer initiated investment related written complaint which was settled on September 21, 2017 to resolve allegations that the customer had been inappropriately placed in annuity policies issued through Principal, Jackson and…
Glen Joseph Webster of Atlanta Georgia a stockbroker formerly registered with Wells Fargo Clearing Services LLC is the subject of a customer initiated investment related complaint on March 25, 2019 where the customer requested damages estimated to exceed $5,000.00 founded on accusations that (1) the customer was provided false information about investments and (2) there…
Joseph Hersey Pratt II (also known as Joseph Hersey Butcher) of Conshohocken Pennsylvania a stockbroker formerly registered with Wells Fargo has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based in part on findings that Pratt executed private securities transactions during the time that he was employed by…
John Bradford Leonard of Toledo Ohio a stockbroker formerly employed by Wells Fargo Advisors is the subject of a customer initiated investment related arbitration claim which was resolved for $265,000.00 in damages supported by allegations of unsuitable stock recommendations having been made during the time that Leonard was employed by Wells Fargo Clearing Services LLC….
Betty Rodriguez of Weston Florida a stockbroker formerly registered with Wells Fargo Clearing Services LLC is the subject of a customer initiated investment related arbitration claim which was settled for $23,000.00 in damages supported by accusations that (1) the customer’s account had been over-concentrated in mutual fund products which resulted in losses and (2) the…
Stephen Allen Kelbick of Villanova Pennsylvania a stockbroker formerly registered with Wells Fargo Clearing Services LLC has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that Kelbick effected unauthorized trades in customer accounts while registered with Wells Fargo. Letter of Acceptance Waiver…
Donald Shelby Toomer of Las Vegas Nevada a stockbroker formerly registered with Wells Fargo Advisors Financial Network LLC is the subject of a customer initiated investment related arbitration claim which was resolved for $75,000.00 in damages supported by allegations that (1) transactions executed in the customer’s account failed to be suitable for the customer and…
Philip Earl Brunson (also known as Phil Brunson) a stockbroker formerly employed by Wells Fargo Advisors is the subject of a customer initiated investment related complaint which was resolved for $28,929.99 in damages on August 24, 2018 based upon accusations that the customer’s funds had been misappropriated by Brunson during the time that he was…
Michael Jay Sharenow of Florham Park New Jersey a stockbroker formerly registered with Wells Fargo Advisors LLC is referenced in a customer initiated investment related arbitration claim which was settled for $150,000.00 in damages founded on allegations that Sharenow placed the customer in bad municipal debt investments including municipal bonds. Financial Industry Regulatory Authority (FINRA)…
Marco Fragnito of Laguna Hills California a stockbroker formerly employed by Wells Fargo Advisors Financial Network LLC has been discharged by the firm on February 2, 2018 founded on allegations that Fragnito executed trades in the accounts of Wells Fargo customers on a discretionary basis when this type of trading was not authorized by the…
Matthew Christopher Maczko of Oak Brook Illinois a stockbroker formerly employed by Wells Fargo Advisors LLC is referenced in a customer initiated investment related arbitration claim in which the customer requested damages estimated to exceed $500,000.00 in damages founded on accusations that Maczko gave the customer bad investment recommendations concerning the securities held in the…
Robert Thomas Tuffy of East Brunswick New Jersey a stockbroker formerly registered with Wells Fargo Advisors is the subject of a customer initiated investment related arbitration claim which was resolved for $27,500.00 in damages based upon allegations that (1) Tuffy effected unauthorized trades in the customer’s brokerage account (2) Tuffy disregarded the customer’s objectives for…
James Coleman McCormick Jr. of Harrisonburg Virginia a stockbroker formerly employed by Wells Fargo Advisors is referenced in a customer initiated investment related written complaint which had been resolved for $15,000.00 on December 5, 2016 based upon accusations that (1) foreign preferred stock and mutual fund trades were effected in the customer’s account in an…
Steven Rocco Colli of Morristown New Jersey a stockbroker currently registered with Morgan Stanley is referenced in a customer initiated investment related arbitration claim which was settled for $230,000.00 in damages based in part upon accusations that the customer was placed into options and equities that failed to be suitable for the customer while Colli…
John William Hoekman of New York New York a stockbroker formerly employed by Wells Fargo Advisors LLC is referenced in a customer initiated investment related arbitration claim which was settled for $390,000.00 in damages founded on accusations that (1) omissions had been made to the customer during a time that the customer was steered by…
Thomas G. Gresham (also known as Tom Gresham) of Overland Park Kansas a stockbroker currently registered with Moloney Securities Co. Inc. is the subject of a customer initiated investment related arbitration claim which was resolved for $495,000.00 in damages founded on accusations that (1) Moloney Securities Co. and UBS Financial Services Inc. collectively failed to…
Alejandro Ariel Torres of Miami Florida a stockbroker formerly registered with Global Strategic Investments LLC is the subject of a customer initiated investment related arbitration claim which was settled for $32,500.00 in damages founded on accusations that misrepresentations had been made to the customer by Torres in regard to the customer’s investments and (2) investments…
Gregory Thormann Pease of Hoboken New Jersey a stockbroker formerly employed by International Assets Advisory LLC is referenced in a customer initiated investment related complaint on April 3, 2019 in which the customer requested unspecified damages supported by accusations that (1) the customer was not provided adequate information from Pease concerning the fees charged on…
Joseph Hersey Pratt (also known as Joseph Hershey Butcher and J.H. Pratt) of Conshohocken Pennsylvania a stockbroker currently registered with Stifel Nicolaus Company is referenced in a Financial Industry Regulatory Authority (FINRA) investigation in which FINRA conveyed that its Department of Enforcement should take disciplinary action against Pratt for allegedly (1) engaging in private securities…
Hossein Amirriahei (also known as Amir Amirriahei and as Riahei Amirriahei) of Los Angeles California a stockbroker formerly employed by Wells Fargo Advisors is the subject of a customer initiated investment related written complaint on May 30, 2017 in which the customer requested $150,000.00 in damages based upon allegations that trades had been executed in…
Wayne Douglas Rogers of Austin Texas a stockbroker currently employed by Wells Fargo Clearing Services LLC is referenced in a customer initiated investment related written complaint which was settled for $11,544.77 on March 8, 2018 based upon allegations that on January 2, 2018, the customer’s investment instructions were not followed concerning the liquidations of an…
Brian Michael Berger of Boca Raton Florida a stockbroker formerly registered with Newbridge Securities Corporation has been barred from being a stockbroker or investment advisor or otherwise associating with securities broker dealers or investment advisors according to a Securities and Exchange Commission (SEC) Initial Decision of Default containing findings that Berger defrauded investors. In the…
Peter Michael Malis of Woodland Hills California a stockbroker currently registered with Wells Fargo Clearing Services is the subject of a customer initiated investment related complaint on December 7, 2017 where the customer sought damages estimated to exceed $5,000.00 based upon allegations that while Malis was associated with Wells Fargo: (1) Malis executed unsuitable closed-end…
Apostolos Nicholas Papadea of Columbia South Carolina a stockbroker formerly registered with Wells Fargo Advisors LLC is the subject of a customer initiated investment related written complaint which was settled for $24,000.00 on January 17, 2017 based upon allegations of (1) omissions and misrepresentations being made to the customer concerning the risks of mutual funds…
William Lief Collins (also known as Bill Collins) of Birmingham Michigan a stockbroker currently employed by Morgan Stanley is the subject of a customer initiated investment related written complaint which was resolved for $8,973.25 on November 22, 2016 founded on allegations that unauthorized trades were effected in the customer’s brokerage and variable annuity accounts while…
Eric A. Keller of Duluth Georgia a stockbroker formerly registered with Wells Fargo Clearing Services LLC is referenced in a customer initiated investment related written complaint which was resolved for $39,587.90 on February 16, 2016 founded on accusations that the customer was placed into a direct participation program or sold limited partnership interests that were…
Christopher Allen Coffman of York New England a stockbroker formerly registered with Edward Jones is referenced in a customer initiated investment related written complaint which was settled on June 23, 2016 to resolve accusations that omissions had been made to the customer concerning the tax liability pertaining to the exchange of mutual funds in the…
Ghalib Abdulla Kanji of Woodland Hills California a stockbroker formerly employed by Wells Fargo Advisors LLC is the subject of a customer initiated investment related arbitration claim which was resolved for $2,000,000.00 in damages founded on allegations that (1) investment recommendations made to the customer were not suitable and (2) misrepresentations had been made to…
Kerry John Mangano of Irvine California a stockbroker formerly registered with Wells Fargo Clearing Services LLC is referenced in a customer initiated investment related written complaint on July 8, 2016 where the customer sought damages estimated to exceed $5,000.00 founded on allegations that Mangano failed to execute the customer’s over-the-counter equities trades according to the…
Barbara Ann Endres of Grand Junction Colorado a stockbroker formerly registered with Wells Fargo Advisors LLC and investment adviser representative of Lifetime Wealth Advisors LLC has been barred by Securities and Exchange Commission (SEC) in all capacities according to an Order Instituting Administrative Proceedings Pursuant to Investment Advisers Act of 1940 Section 203(f) containing findings…
Herbert Charles Buchbinder of Mission Woods Kansas a stockbroker formerly employed by Wells Fargo Advisors LLC is referenced in a customer initiated investment related written complaint which was resolved on October 25, 2016 for $24,999.00 in damages founded on accusations that the customer sustained losses from the equity investments the customer purchased as a result…
Leonard Charles Kinsman of Staten Island New York a stockbroker currently registered with Wells Fargo Advisors Financial Networks LLC is the subject of a customer initiated investment related written complaint which was settled for $24,000.00 on February 22, 2017 founded on allegations that the customer was provided false or misleading information concerning the principal protection…
Eric Alan Zakarin of Cranford New Jersey a stockbroker formerly registered with Lombard Securities Incorporated has been terminated by the firm on October 10, 2018 based upon allegations that (1) Zakarin generated excessive commissions from customers and (2) Zakarin executed trades in customer accounts that customers’ possibly had not authorized. This is not the first…
Alfredo Caba of New York New York a stockbroker formerly employed by Wells Fargo Advisors LLC has been fined $2,500.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Caba lied to Wells Fargo about being terminated for cause from J.P. Morgan Securities,…
Harold Weber of Airmont New York a stockbroker formerly employed by Wells Fargo Advisors LLC is referenced in a customer initiated investment related arbitration claim which was settled for $50,000.00 in damages based upon allegations that between December of 2012 and June of 2016: (1) transactions were executed in the customer’s account that were not…
James David Armer of Albuquerque New Mexico a stockbroker formerly registered with BBVA Securities Inc. is referenced in a customer initiated investment related written complaint on December 7, 2018 where the customer sought damages estimated to exceed $5,000.00 based upon allegations that while associated with BBVA Securities Inc. Armer failed to inform the customer about…
Aaron Robert Parthemer of Fort Lauderdale, Florida has been fined $160,000.00 and barred from being a broker or investment adviser or otherwise associating with any brokers or investment advisories according to an Order Making Findings and Imposing Sanctions Pursuant To Securities Exchange Act of 1934 Section 15(b), Investment Advisers Act of 1940 Section 203(f) and…
Douglas Albert Pastor of Davison Michigan a stockbroker formerly employed by UBS Financial Services Inc. is the subject of a customer initiated investment related written complaint on February 7, 2017 in which the customer sought damages estimated to exceed $5,000.00 founded on accusations that between April 13, 2010 and December 16, 2016, Pastor charged the…
Raleigh Edward Kraft of Front Royal Virginia a stockbroker formerly registered with Wells Fargo Advisors Financial Network LLC has been suspended for two years from all supervisory capacities in the state of Nevada according to an Administrative Consent Order issued by the Nevada Secretary of State containing findings that Kraft had been subject of several…
Ronald Jason Payne of Greenville South Carolina a stockbroker formerly registered with Voya Financial Advisors Inc. has been discharged by the firm on November 16, 2018 based upon accusations that (1) Payne neglected to abide by Voya Financial Advisors Inc. know your customer rules when establishing new customer accounts at the firm and (2) Payne…
Roberto Omar Bastardo of Jupiter Florida a stockbroker formerly employed by Wells Fargo Advisors LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by accusations that Bastardo failed to respond to a FINRA inquiry which may have concerned Bastardo’s discharge from Wells Fargo Advisors LLC. FINRA…
Larry Demar Boggs of Cumberland Maryland a stockbroker currently employed by Wells Fargo Advisors is referenced in a customer initiated investment related arbitration claim which was resolved for $75,000.00 in damages founded on accusations that the customer’s investable assets were allocated in a municipal bond portfolio that was in no way suitable for the customer….
Mark Joseph Flanagan of Highland Park Illinois a stockbroker formerly registered with Citigroup Global Markets Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Flanagan obstructed a FINRA investigation into his alleged unauthorized and unsuitable transactions. Letter of Acceptance Waiver and…
John Martin Kelley Jr. of Northfield New Jersey a stockbroker currently registered with Morgan Stanley is the subject of a customer initiated investment related written complaint on October 12, 2018 in which the customer sought damages estimated to exceed $5,000.00 in damages based in part on accusations that unauthorized stock trades were effected in the…
Eric Grant Demarcus of Sunnyvale California a stockbroker formerly registered with Wells Fargo Advisors LLC is the subject of a customer initiated investment related written complaint on July 17, 2015 where the customer sought damages estimated to exceed $5,000.00 based upon allegations that unit investment trust transactions executed in the customer’s account were not suitable…
Alan Walton Sharpe of Burlington Massachusetts a stockbroker formerly employed by RBC Capital Markets LLC is the subject of a customer initiated investment related arbitration claim which settled for $225,000.00 in damages supported by allegations that (1) Sharpe made unsuitable oil and gas equities recommendations to the customer and (2) Sharpe churned the customer’s investment…
Randyl Robert Taber of West Des Moines Iowa a stockbroker formerly employed by Ameriprise Financial Services Inc. has been discharged by the firm on May 10, 2017 based upon accusations that Taber committed numerous violations of Ameriprise Financial Services’ policy by implementing an “investment strategy” that was not suitable for customers of the firm. FINRA…
Sean Lewis Dobranich of Las Nevada a stockbroker currently employed by Waddell Reed is referenced in a customer initiated investment related written complaint on April 28, 2017 in which the customer requested $25,000.00 in damages founded on allegations that (1) Dobranich over-concentrated the customer’s managed account in inappropriate securities (2) Dobranich neglected to sell the…
Robert Frank Pondt of Woodland Hills California a stockbroker formerly employed by Wells Fargo Advisors LLC is the subject of a customer initiated investment related written complaint which settled for $22,000.00 on July 5, 2017 supported by accusations that the customer was provided misleading information about unit investment trust products by being told that the…
Jerry Duane Holdsworth of Lincoln Nebraska a stockbroker currently registered with Wells Fargo Advisors Financial Network LLC is referenced in a customer initiated investment related arbitration claim which was resolved for $40,000.00 in damages founded on accusations that (1) Holdsworth effected stock trades in the customer’s account that were not suitable for the customer and…
Raymond Phillip Kvalvog of Fargo North Dakota a former Wells Fargo Advisors LLC branch manager has been ordered by an Arbitration Panel to pay a customer $75,383.75 in compensatory damages based on the Panel finding Kvalvog and Wells Fargo liable for committing fraud by steering the customer into placing more than $2,000,000.00 of the customer’s…
Robert Paul Friedman of Berwyn Pennsylvania a stockbroker currently registered with Wells Fargo Advisors Financial Network LLC is referenced in a customer initiated investment related arbitration claim which was resolved for $12,000.00 in damages founded on accusations that (1) Friedman made investment recommendations to the customer that were not suitable and placed the customer in…
Robert Michael Henrici of Coral Springs Florida a stockbroker currently registered with Wells Fargo Clearing Services is the subject of a customer initiated investment related written complaint which settled for $20,000.00 on July 3, 2017 founded on accusations that Henrici placed an inappropriate insurance rider on the customer’s variable annuity. Financial Industry Regulatory Authority (FINRA)…
Norman Paul Harres of Virginia Beach Virginia a stockbroker currently employed by Wells Fargo Clearing Services, LLC is the subject of a customer initiated investment related written complaint which settled for $62,199.32 on April 23, 2018 based upon accusations that Harres made false statements to the customer regarding the features on a variable annuity purchased…
Thomas A. Davis of Hilton Head Island South Carolina a stockbroker formerly employed by Wells Fargo Advisors LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity according to a Default Decision containing findings that Davis converted funds from customers and failed to cooperate with FINRA’s investigation into…
Michael Walter Ollmann of Waukesha Wisconsin a stockbroker formerly employed by Wells Fargo Advisors LLC is the subject of a customer initiated investment related arbitration claim where the customer sought $125,000.00 in damages founded on accusations that Ollmann excessively traded municipal debt products in the customer’s account and caused the customer to suffer unwarranted investment…
Paul William Morse of New York New York a stockbroker formerly registered with Wells Fargo Advisors LLC is the subject of a customer initiated investment related written complaint on July 18, 2017 where the customer sought damages estimated to exceed $5,000.00 supported by allegations that misrepresentations or false statements had been made to the customer…
Thomas Von Reckers of Lakewood Colorado a stockbroker formerly employed by Wells Fargo Advisors Financial Network LLC is referenced in a customer initiated investment related civil action in which the customer sought more than $5,000.00 in damages supported by allegations that Reckers misrepresented the terms and conditions of loan products in addition to the investments…
Edward Oda Daniel of Fort Worth Texas a stockbroker formerly employed by Wells Fargo Advisors LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he obstructed a FINRA investigation into accusations of his potential unsuitable investment recommendations to customers of Wells…
Mathew D. Webster of Syracuse New York a stockbroker formerly employed by Wells Fargo Advisors LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that he failed to honor FINRA’s request for his information. Case No. 2016051007901 (Sept. 11, 2017). FINRA Public Disclosure confirms…
Daniel Patrick Mullan of Melville New York a stockbroker formerly employed by NYLife Securities LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by accusations that he failed to furnish information to FINRA concerning his sales practices. Case No. 2016048799901 (Sept. 18, 2017). FINRA Public Disclosure…
Todd Joseph Thompson of Atlanta Georgia a stockbroker formerly registered with SunTrust Investment Services Inc. is referenced in a customer initiated investment related arbitration claim which was resolved for $40,000.00 in damages supported by allegations that (1) Thompson executed transactions in the customer’s account that were not suitable for the customer and (2) SunTrust Investment…
J. Gordon Cloutier Jr. of Frisco Texas a stockbroker formerly employed by Wells Fargo Advisors LLC 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’s investigation into Cloutier’s possible unauthorized trading. Department of Enforcement v. J….
Earle Clement Tingley of Winter Haven Florida a stockbroker formerly registered with Wells Fargo Advisors Financial Network 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 Tingley inappropriately borrowed money from customers and lied about it when questioned…
Christopher Curran of Houston Texas a stockbroker currently registered with Wells Fargo Clearing Services LLC is the subject of a customer initiated investment related written complaint that was resolved on October 27, 2017 for $13,031.48 founded on accusations that Curran failed to follow the customer’s instructions by purchasing an equity that was supposed to have…
Darnell Kenneth Mote of Jacksonville Florida a stockbroker formerly registered with Wells Fargo Advisors 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 engaged in an undisclosed outside business activity while employed by Wells Fargo. Letter of…
Donald John Chiodo of Clare Michigan a stockbroker formerly registered with Wells Fargo Advisors Financial Network LLC is the subject of a customer initiated investment related written complaint on June 27, 2016 where the customer sought $82,841.00 in damages based upon allegations that between April 30, 2015 and May 13, 2016, variable annuity investment recommendations…
Scott Alan Kaufman a stockbroker formerly registered with Wells Fargo Clearing Services LLC has been terminated from employment on June 30, 2017 based upon allegations that Kaufman failed to communicate with customers about trades prior to executing them in their accounts. Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that on April 26, 2018, a…
Luong Pham of Edmonds Washington a stockbroker formerly registered with FSIC has been discharged by the firm on December 12, 2017 based upon accusations that customer account information was procured by Pham from her prior employer without authorization, which Pham planned to utilize in violation of both Securities Exchange Commission (SEC) Regulation S-P and Protocol…
Mark Joseph Flanagan of Highland Park, Illinois, a stockbroker formerly registered with Citigroup Global Markets Inc., has been suspended on June 7, 2018 from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by allegations that he failed to pay Citigroup $102,022.26 in compensatory damages pursuant to FINRA Arbitration Award No….
Nicholas Ippolito III of East Brunswick New Jersey a stockbroker formerly registered with Voya Financial Advisors Inc. has been discharged by the firm on January 27, 2017 based upon allegations that Ippolito executed replacements of unit investment trusts for customers despite those investments failing to conform to customers’ investment horizons. Financial Industry Regulatory Authority (FINRA)…
George Edward Mathis of The Villages, Florida, a stockbroker currently registered with Raymond James & Associates, Inc., is the subject of a customer initiated investment related arbitration claim in which the customer requested $65,000.00 in damages based upon allegations of fraud, misrepresentation, breach of contract, negligence, and breach of fiduciary duty pertaining to investment transactions…
Darrell Brian Hesford of Escondido California a stockbroker currently registered with Wells Fargo Clearing Services LLC is referenced in a customer initiated investment related written complaint on April 23, 2018 where the customer requested damages estimated to exceed $5,000.00 supported by allegations that exchange traded funds were placed in the customer’s account without the customer’s…
Earle Clement Tingley of Winter Haven Florida a stockbroker formerly employed by Wells Fargo Advisors Financial Network LLC has been discharged by the firm on April 27, 2018 supported by allegations that Tingley acknowledged to have entered into a customer loan arrangement in violation of the firm’s policies. Financial Industry Regulatory Authority (FINRA) Public Disclosure…
Ramon Arturo Herrera of Jersey City New Jersey a stockbroker formerly registered with Wells Fargo Clearing Services LLC has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that he declined to provide FINRA information that was requested of him by the regulator. Case No. 2018057425101…
Timothy Patrick Lofton of Washington Township Ohio a stockbroker formerly registered with Wells Fargo Advisors Financial Network LLC and advisor employed by Horter Investment Management has been discharged from Horter on April 26, 2018 based upon accusations that Lofton failed to abide by the company’s procedures and policies relating to outside business activities. Financial Industry…
More than forty-five public investors filed a $5.8 million dollar securities arbitration claim against Securities America in connection with a Ponzi scheme effected by one of its registered representatives, conducting business and registered under the name of Allen Lee Hengst. The securities arbitration panel, then back in 2001 known as the NASD, or National Association…
Patrick Fernando Infante of Beverly Hills California a stockbroker employed by Wells Fargo Clearing Services, LLC has been discharged by the firm on July 18, 2017 founded on allegations that he established customers’ accounts without their permission. Does any of this sound familiar. Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that on August 14,…
Daniel John Bezik of Mentor Ohio a stockbroker currently registered with Wells Fargo Advisors Financial Network LLC is the subject of a customer initiated investment related written complaint on January 5, 2018 where the customer requested damages estimated to exceed $5,000.00 founded on accusations that between December 15, 2016 and January 5, 2018, Bezik neglected…
Bradley Everett Gardner of Fort Bragg California a stockbroker formerly employed by LPL Financial LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he converted a customer’s funds. Letter of Acceptance Waiver and Consent No. 2017055975701 (June 4, 2018). According to…
Michael Scott Hayes of Burlington Vermont a stockbroker formerly employed by Key Investment Services LLC is referenced in a customer initiated investment related written complaint on March 10, 2016 where the customer sought $10,093.70 in damages founded on accusations that misrepresentations had been made to the customer concerning Forethought Life SecureForce Fixed Annuity and Commonwealth…
David Michael Logsdon of Hailey Idaho a stockbroker formerly registered with Wells Fargo Advisors is referenced in a customer initiated investment related complaint on March 22, 2018 where the customer sought more than $5,000.00 in estimated damages based upon accusations that Logsdon failed to liquidate the customer’s stock holdings from the customer’s wrap account. Financial…
Darnell Kenneth Mote of Jacksonville Florida a stockbroker formerly employed by Wells Fargo Advisors LLC is the subject of a Financial Industry Regulatory Authority (FINRA) Investigation in which FINRA has recommended that an enforcement action be pursued against Mote based upon allegations that he violated FINRA Rules 2010 and 3270 by engaging in unapproved outside…
Roger Alan Klinger of Indianapolis Indiana a stockbroker formerly employed by RBC Capital Markets LLC is the subject of a customer initiated investment related arbitration claim in which the customer sought $100,000.00 in damages based upon allegations that master limited partnership and unit investment trust transactions were effected in the customer’s account that were neither…
Paul Anthony Dangelo of Saddle Brook New Jersey a stockbroker formerly registered with Oppenheimer Co. Inc. has been discharged by the firm on March 13, 2018 founded on accusations that Dangelo neglected to apprise the firm that his activities were subject of a regulatory examination. This is not the first time that Dangelo has been…
Richard Dell Dunagan of Austin Texas a stockbroker formerly employed by Wells Fargo Advisors LLC is referenced in a customer initiated investment related arbitration claim where the customer sought $261,521.05 in damages founded on allegations that trades were executed in the customer’s account on an excessive and unsuitable basis from 2007 to 2016. Financial Industry…
Joseph Gordon Cloutier of Frisco Texas a stockbroker formerly registered with Wells Fargo Advisors has been charged by Financial Industry Regulatory Authority (FINRA) in a Complaint alleging that Cloutier failed to cooperate with a FINRA investigation into allegations of him executing transactions in customer accounts without permission and soliciting a loan from a customer. Department…
Joseph Gordon Cloutier Jr of Frisco Texas a stockbroker formerly registered with Wells Fargo Advisors LLC has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that he neglected to provide information to FINRA personnel about his business activities. Case No. 2016051652701 (Mar. 6, 2017). FINRA…
Dallas York of Scottsdale Arizona a stockbroker formerly registered with Wells Fargo Clearing Services LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity according to an Office of Hearing Officers Order Accepting Offer of Settlement containing findings that York failed to provide documents and information to FINRA…
William Stoddard Valentine of Philadelphia Pennsylvania a stockbroker formerly registered with Wells Fargo Advisors LLC was the subject of a customer initiated investment related complaint which settled on December 19, 2016 for $5,000.00 in damages supported by accusations that (1) the customer’s assets were not diversified (2) the customer’s assets were over-concentrated in master limited partnerships…
Michael Fisher of Melville New York is a stockbroker formerly registered with Wells Fargo Advisors LLC who is the subject of a customer initiated investment related arbitration claim where the customer requested $324,165.01 in damages based upon allegations that Fisher effected unit investment trust transactions in the customer’s account that were not suitable for the…
Herbert Lee Weith IV of Annapolis Maryland is a stockbroker currently registered with Wells Fargo Clearing Services, LLC who is the subject of a customer initiated investment related complaint which was resolved on August 4, 2017 for $20,000.00 based upon accusations of negligence relating to the use of the customer’s 401(k) proceeds for the purchase…
James Paul Laughlin is a stockbroker currently registered with Wells Fargo Clearing Services LLC who is the subject of a customer initiated investment related arbitration claim which settled for $6,500.00 in damages supported by accusations that the customer was assessed excessive fees for the management of the customer’s management account between December 2, 2014 and…
Stephen Allen Kelbick of Villanova Pennsylvania is a stockbroker formerly registered with Wells Fargo Clearing Services LLC who has been fired on August 16, 2017, based upon allegations that Kelbick effected trades in customers’ investment accounts without ever having spoken to them before the transactions were entered. Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms…
Mary Janice Stockinger of Lenoir North Carolina is a stockbroker currently registered with Wells Fargo Advisors LLC who is the subject of a customer initiated investment related arbitration claim which settled for $20,000.00 in damages founded on accusations that Stockinger made misrepresentations to the customer concerning a fixed annuity by claiming that it would provide…
Duane J. Haley of Indianapolis Indiana is a stockbroker formerly registered with Wells Fargo Advisors, LLC who is the subject of a customer initiated investment related written complaint which settled for $5,000.00 in damages founded on allegations that mutual fund transactions were executed in the customer’s account on an unauthorized and unsuitable basis. Haley’s registration…
David Jeremy Welty of Norristown Pennsylvania is a former Wells Fargo Clearing Services LLC stockbroker who has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he converted customer funds. Letter of Acceptance Waiver and Consent No. 2016052638401 (Jan. 19, 2017). According to…
Thomas George Sandkamp of Ontario California is a stockbroker formerly registered with Wells Fargo Advisors LLC who was fired on May 12, 2016 supported by allegations that he altered customer account documentation after the document had already been executed by the customer. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Sandkamp has been referenced…
Kevin Michael McCluskey of Palm Beach Florida is a stockbroker formerly registered with Deutsche Bank Securities Inc. who is the subject of a customer initiated investment related arbitration claim which settled for $25,000.00 in damages founded on allegations that misrepresentations had been made to the customer concerning a certificate of deposit sale and fixed annuity…
George Frederick Dance Jr of Daphne Alabama, a stockbroker registered with Wells Fargo Advisors, is the subject of a customer initiated investment related written complaint on July 25, 2017, where the customer seeks more than $5,000.00 in damages based upon accusations that an unsuitable investment allocation had been effectuated for the customer’s managed account between…
Jeffrey Marc Grayson of Florham Park New Jersey is a stockbroker formerly registered with Wells Fargo Advisors who is the subject of a customer initiated investment related arbitration claim in which the customer requested thirty-eight thousand one hundred seventeen dollars in damages founded on allegations that Grayson concentrated the customer’s assets in investments that were…
Paul Mark Zoch of Fort Lauderdale Florida is a stockbroker formerly registered with Wells Fargo Advisors who was fired on August 29 2017 based upon allegations that Zoch engaged in improper activities affecting a customer account relationship which ultimately caused the firm to no longer maintain confidence in Zoch’s abilities to comply with the firm’s…
Jeffrey Alan Hill of Bemidji Minnesota is a stockbroker formerly registered with Dougherty and Company LLC whose securities registration has been revoked on March 17 2017 by Financial Industry Regulatory Authority (FINRA) based upon allegations that he failed to pay fifty thousand dollars in fines and disgorgement. Particularly, Hill was disgorged of $45,000.00, fined $5,000.00…
Jeffrey Randolph Wilson of Las Cruces New Mexico is a stockbroker currently registered with Wells Fargo Clearing Services that is subject of a customer initiated investment related arbitration claim in which the customer sought at least five thousand dollars in damages founded on accusations that Flaum made unsuitable investment recommendations to the customer regarding energy-sector…
Jeffrey E. Krupnick, of Sarasota, Florida, a stockbroker formerly employed with Wells Fargo, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity according to an Extended Hearing Panel Decision containing findings that Krupnick converted a customer’s funds. Department of Enforcement v. Jeffrey E. Krupnick, Disciplinary Proceeding No. 2014043869901…
John Greg Schmidt, of Dayton, Ohio, a stockbroker formerly registered with Wells Fargo Advisors Financial Network, LLC, has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based on Schmidt’s failure to provide FINRA with information relating to his business activities. Case No. 2017056103801 (Nov. 29, 2017). FINRA Public…
Matthew Aaron Turner, of Ponte Vedra Beach, Florida, a stockbroker currently employed with BB&T Securities, LLC, is the subject of a customer initiated investment related written complaint, which settled on December 27, 2017 for $14,999.00 in damages supported by allegations that Turner made unsuitable investment recommendations to the customer concerning a variable annuity, causing the…
Keven J. Jedlicka, of Baltimore, Maryland, a stockbroker formerly registered with Chaplin Davis, has been suspended for six months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he traded in customer accounts on an unsuitable basis. Letter of Acceptance, Waiver and Consent, No. 2016047659701…
Charles Bernard Lynch Jr. of Irvine, California, a stockbroker registered with Wells Fargo Advisors, LLC, has been barred 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. 2015045713301 (Dec. 11, 2017). According…
Jeremy David Hare of Bala Cynwyd, Pennsylvania, a stockbroker associated with Gilford Securities Incorporated, has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity on January 4, 2014, based upon consenting to findings that he failed to comply with a customer award of $249,303.21 in FINRA Arbitration No. 11-03778,…
Michael Scott Lance, of San Rafael, California, a stockbroker registered with Wells Fargo Advisors, is the subject of a customer initiated investment related written complaint on October 26, 2016, in which the customer sought more than $5,000.00 in damages based upon accusations that the customer was never informed about tax consequences pertaining to individual retirement…
Charles Henry Frieda, of Irvine, California, a stockbroker formerly registered with Wells Fargo Clearing Services, LLC, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity by consenting to findings that he made unsuitable investment recommendations to the firm’s customers. Letter of Acceptance, Waiver and Consent, No. 2015045713302 (Dec….
Donald Anthony Devito II, of Albany, New York, a stockbroker formerly registered with Wells Fargo Advisors, has been subject of a customer initiated investment related written complaint, which settled for $50,000.00 in damages on November 14, 2017, based upon allegations of excessive fees having been assessed on the customer’s equity transactions between December 31, 2008…
Paul William Lascelle of Flemington, New Jersey, a stockbroker registered with Morgan Stanley, has been fined and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity by consenting to findings that he engaged in the unauthorized trading of a customer’s investment account. Letter of Acceptance, Waiver and Consent, No. 2017053501901…
Barbara Ann Endres, of Grand Junction, Colorado, a stockbroker formerly registered with Wells Fargo Advisors, LLC and investment advisor representative with Lifetime Wealth Advisors, LLC, is the subject of an Order issued by Commonwealth of Massachusetts Securities Division suspending Endres’ investment advisor representative registration in the Commonwealth of Massachusetts based upon allegations of her improper…
Deborah Elizabeth Greenlee-Keck, of Mishawaka, Indiana, a stockbroker formerly registered with J.P. Morgan Securities LLC, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based on allegations that Greenlee-Keck obstructed a FINRA investigation into allegations of her improper conduct concerning a financial transaction with a customer of the…
Charles Bernard Lynch Jr., of Irvine California, a stockbroker formerly registered with Wells Fargo Advisors, LLC, is the subject of a customer initiated investment related arbitration claim on September 18, 2017, in which the customer requested $200,000.00 in damages based on allegations that Lynch effected unsuitable transactions in the customer’s account, over-concentrating the customer’s portfolio…
Scott Jason Wallach, of Paramus, New Jersey, a stockbroker currently registered with Wells Fargo Clearing Services, has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity, and disgorged of commissions obtained from a customer by him through effecting unauthorized trades in the investment account of a…
Patrick Claude Robert Guinet, of Irvine, California, a stockbroker formerly registered with Wells Fargo Clearing Services, is the subject of a customer initiated investment related arbitration claim, which settled on June 5, 2017, for $4,954.14 in damages supported by allegations that the customer’s wrap account fund reallocation instructions were not executed between January 1, 2017,…
Hector Hugo Gutierrez, Jr., of Brownsville, Texas, a stockbroker formerly registered with Wells Fargo Advisors, LLC, was charged by Financial Industry Regulatory Authority (FINRA) in a Complaint alleging that he failed to make an appearance and testify before FINRA staff in reference to accusations that he effected unauthorized transactions in customer accounts. Department of Enforcement…
Jonathan Ben Mirer, of Henderson, Nevada, a stockbroker currently registered with Ameriprise Financial Services, Inc., is the subject of a customer initiated investment related complaint, which settled on February 7, 2017, for $20,000.00 in damages supported by allegations of unauthorized trading of foreign equities from 2009 to 2016. Financial Industry Regulatory Authority (FINRA) Public Disclosure…
Robert Charles Stevens, of Norfolk, Virginia, a stockbroker formerly registered with Sterne, Agee & Leach, Inc., is the subject of a customer initiated investment related written complaint on August 19, 2016, based upon allegations that he misled the customer by making promises about the customer’s closed-end funds and variable annuity having been guaranteed against loss….
Marco Fragnito, of Laguna Hills, California, a stockbroker registered with Wells Fargo Advisors Financial Network, LLC, is the subject of a customer initiated investment related arbitration claim, which was settled for $1,200,000.00 in damages on July 20, 2017, based upon allegations that Fragnito effected trades in the customer’s account that the customer never authorized. The…
Tyler Boone Powell, of Montecito, California, a stockbroker formerly registered with Wells Fargo Advisors, 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 effected trades in customer accounts without authorization. Letter of Acceptance, Waiver and Consent, No….
Christopher D. Stoddard, of Norwell, Massachusetts, a stockbroker formerly registered with Morgan Stanley, 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 altered customer account documentation. Letter of Acceptance, Waiver and Consent, No. 2016051578601 (Aug. 16, 2017). According…
Mark Thomas Zielinski, of Newport Beach, California, a stockbroker registered with Wells Fargo Advisors, has been fired from his job on December 18, 2016, based upon allegations against him of supervisory “mishaps.” Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that on January 12, 2000, a customer filed an investment related written complaint involving Zielinski’s…
Shelley Steuer Freeman, of Beverly Hills, California, a stockbroker formerly registered with Wells Fargo Clearing Services, LLC, has been fined and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that she failed to cooperate with FINRA in an investigation into allegations of her sales…
Steven John Szmak, of Flemington, New Jersey, is the subject of a customer initiated investment related arbitration claim on July 21, 2015, in which the customer requested $51,596.00 in damages based upon allegations that Szmak made unsuitable investment recommendations to the customer about corporate debt investments effected in the customer’s account. Financial Industry Regulatory Authority…
Betty Rodriguez, of Weston, Florida, a stockbroker formerly registered with Wells Fargo Advisors, LLC, is the subject of a customer initiated investment related arbitration claim on May 27, 2016, in which the customer requested $6,268.90 in damages based upon allegations that Rodriguez, in May of 2016, effected unauthorized mutual fund transactions in the customer’s account….
Steven Robert Tomlinson, of Elmira, New York, a stockbroker formerly registered with Wells Fargo Advisors, LLC, is the subject of a customer initiated investment related arbitration claim on May 16, 2017, in which the customer requested damages estimated at $5,000.00 in damages based upon allegations that Tomlinson effected unsuitable transactions in the customer’s account between…
Sandra Jayne McCabe, of Melville, New York, a stockbroker formerly registered with Wells Fargo Advisors, 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 she effected unauthorized transactions involving the recycling of customers signatures on documents. Letter of Acceptance,…
Peter Michael Malis, of Woodland Hills, California, a stockbroker formerly registered with Wells Fargo Advisors, LLC, is the subject of a customer initiated investment related arbitration claim, which settled on May 2, 2017, for $1,100,000.00 in damages based upon allegations that he effected unsuitable, unauthorized and excessive closed-end fund transactions in the customer’s account, and…
Pablo Leonel Gherardi, of Miami Florida, a stockbroker registered with Wells Fargo Advisors, was terminated from employment on November 9, 2016, based upon allegations that he took part in a foreign investment transaction and failed to provide consistent information to his firm relating to the transaction. Financial Industry Regulatory Authority (FINRA) Public Disclosure also reveals…
Barry Jay Dekreek, of Alpharetta, Georgia, a stockbroker currently registered with LPL Financial LLC, is the subject of a customer initiated investment related written complaint on June 17, 2016, wherein the customer requested $5,000.00 in damages based upon allegations that Dekreek did not adequately advise the customer about investing in a fixed annuity. Financial Industry…
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…
Adam T. Marquardt, of Rochester, Minnesota, a stockbroker currently registered with Wells Fargo Advisors Financial Network, LLC, is the subject of a customer initiated investment related arbitration claim on May 2, 2017, in which the customer requested at least $150,000.00 in damages based upon allegations that Marquardt effected energy sector stock transactions in the customer’s…
Frank A. Tegge, of East Lansing, Michigan, a stockbroker formerly registered with Wells Fargo Advisors, LLC, 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 placed unauthorized transactions in a customer’s investment account. Letter of Acceptance, Waiver and…
Richard Ball Ryan, of Hyannis, Massachusetts, a stockbroker formerly registered with Wells Fargo Clearing Services, Inc., is the subject of a customer initiated investment related arbitration claim on May 2, 2017, wherein the customer requested $250,000.00 in damages supported by allegations that Ryan made unsuitable investment recommendations to the customer pertaining to mutual fund products….
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…
Jason Travis Turner, of Bedford, Virginia, a stockbroker formerly registered with Wells Fargo Advisors, LLC, is the subject of a customer initiated investment related written complaint on March 21, 2017, in which the customer requested an estimated $5,000.00 in damages based upon allegations that Turner effected unauthorized and unsuitable transactions in the customer’s account in…
John Arthur Dettelbach, of Pepper Pike, Ohio, a stockbroker currently registered with Wells Fargo Advisors, 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 effected unauthorized transactions in customer accounts. Letter of Acceptance, Waiver and Consent, No….
Samir Collauku, of Edison, New Jersey, a stockbroker formerly registered with National Securities Corporation, has been barred 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 relating to his business activities. Letter No. 2014043784001 (Feb. 2, 2016). FINRA Public…
Joseph Frederick Eschleman, of Sacramento, California, a stockbroker registered with Wells Fargo Clearing Services, LLC, has been terminated from employment on April 26, 2017, based upon allegations that he directed his associate to effect transactions in the account of a deceased customer by claiming that he received permission from the customer to place the transactions….
Shawn Allen Stults, of Midland, Texas, a stockbroker formerly registered with Wells Fargo Advisors, has been named in a customer initiated investment related written complaint, which settled on May 24, 2017, for $6,249.91 in damages to resolve allegations that Stults effected transactions in the customer’s account that were not suitable for the customer. Apparently, between…
Daniel Harry Curkan, of Clearwater, Florida, has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that he did not communicate with FINRA regarding his compliance with the terms and conditions of a customer initiated investment related arbitration settlement or award. Case No. 14-02221 (Apr. 25,…
Michael Fisher, of Melville, New York, a stockbroker formerly registered with Wells Fargo Advisors, LLC, has been named in a customer initiated investment related written complaint on April 12, 2017, in which the customer requested $171,172.10 in damages based upon allegations that he made misrepresentations to the customer regarding unit investment trusts. This is not…
William Francis Gillis, of Seattle, Washington, a stockbroker formerly registered with National Securities Corporation, has been named in a customer initiated investment related written complaint, which settled on May 22, 2017, for $80,000.00 in damages based upon allegations that he breached his fiduciary duties to the customer and negligently handled the customer’s investment account. Financial…
Leah Rebecca Bullen, of Walnut Creek, California, a stockbroker registered with Wells Fargo Advisors, LLC, was terminated from employment on January 7, 2016, based upon allegations that she effected a loan arrangement with an investor outside the auspices of her firm, and did not make disclosures to the firm about her involvement in a legal…
Marc Harold Pearl, of Auburn, California, a stockbroker formerly registered with Wells Fargo Advisors, LLC, has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based on allegations that he failed provide FINRA staff with a response to their request for information relating to Pearl’s business activities. Letter No….
Jeffrey Marc Grayson, of Florham Park, New Jersey, a stockbroker formerly registered with Wells Fargo Advisors, has been fined $10,000.00 and suspended for two months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he effected trades in customer accounts without authorization. Letter of Acceptance,…
Jarrod Edward Biebel, of Marquette, Michigan, a stockbroker formerly registered with Wells Fargo Advisors, LLC, has been named in a customer initiated investment related written complaint on October 11, 2016, where the customer requested more than $5,000.00 in damages based upon allegations that Biebel effected unauthorized structured product transactions in the customer’s account. Financial Industry…
John Bradford Leonard, of Toledo, Ohio, a stockbroker formerly registered with Wells Fargo Advisors, has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that he failed to respond to a FINRA informational request regarding his activities. Case No. 2016050686801 (Apr. 14, 2017). FINRA Public Disclosure…
Alexandre Santos Leal, of Miami, Florida, a stockbroker formerly registered with Wells Fargo Clearing Services, has been named in a customer initiated investment related written complaint on April 13, 2017, in which the customer requested more than $5,000.00 in damages based upon allegations that during the time Leal was the customer’s financial advisor, he effected…
Deane Serfer Rudofker, of Philadelphia, Pennsylvania, a stockbroker registered with Ameriprise Financial Services, Inc., has been terminated from employment based upon allegations that he engaged in communications and solicitations of investments with customers in a manner which violated Ameriprise’s solicitation rules. This is not the first time Rudofker was terminated for misconduct by a brokerage…
Sylvester King Jr., of Fort Lauderdale, Florida, a stockbroker formerly registered with Wells Fargo Advisors, LLC, was subject of a Securities and Exchange Commission Administrative Order, in which King was ordered to cease and desist from causing future violations of Securities Exchange Act of 1934 Sections 15(a) and 17(a)(1), Rule 17a-4(b)(4), as well as Investment…
Jeffrey Alan Hill, of Bemidji, Minnesota, a stockbroker formerly registered with Wells Fargo Advisors, was sanctioned by Financial Industry Regulatory Authority (FINRA), in which his securities registration was revoked by FINRA for failing to fulfill his payment of fines and disgorgement associated with a prior FINRA disciplinary action against him. Letter No. 2015047008703 (Mar. 17,…
Joseph Manuel Focil, of Santa Monica, California, a stockbroker formerly registered with Wells Fargo Advisors, LLC, has been named in a customer initiated investment related written complaint on January 6, 2016, in which the customer requested more than $5,000.00 in damages based upon allegations that Focil failed to execute the sale of the customer’s equity…
Charles Henry Frieda, of Irvine, California, a stockbroker currently registered with Wells Fargo Clearing Services, LLC, has been named in a customer initiated investment related arbitration claim on March 29, 2017, based upon allegations that Frieda overconcentrated the customer’s holdings in equities that the customer was not suitable for. Financial Industry Regulatory Authority (FINRA) Public…
Lynn Grossman, of Westport, Connecticut, a stockbroker formerly registered with Wells Fargo Advisors, has been named in a customer initiated investment related arbitration claim on March 30, 2017, in which the customer requested $168,000.00 in damages based upon allegations that Grossman made misrepresentations and unsuitable recommendations to the customer concerning a variable annuity that the…
Hossein Amirriahei, of Los Angeles, California, a stockbroker formerly registered with Wells Fargo Advisors, LLC, has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that she failed to cooperate in an investigation into allegations of her unauthorized trading in customer accounts. Letter…
Eric Alan Zakarin, of Westfield, New Jersey, a stockbroker formerly registered with Wells Fargo Advisors, has been named in a customer initiated investment related written complaint, which settled on June 28, 2016, for $3,719.53 in damages based upon allegations that Zakarin effected unauthorized mutual fund transactions in the customer’s account. Financial Industry Regulatory Authority (FINRA)…
David Jay Homan, of Bay City, Michigan, a stockbroker formerly registered with Wells Fargo Advisors, LLC, has been named in a customer initiated investment related arbitration claim, which settled on April 6, 2016, for $206,500.00 in damages based upon allegations that Homan misappropriated funds during the period in which he was trustee of the customer’s…
James Joseph Beaupre, of Boulder, Colorado, a stockbroker currently registered with Wells Fargo Advisors, has been named in a customer initiated investment related written complaint on March 21, 2017, in which the customer requested $10,000.00 in damages based upon allegations that Beaupre failed to provide the customer with accurate information concerning the fees and administration…
Mikael C. Lee, of San Mateo, California, a stockbroker formerly registered with Wells Fargo Advisors, has been named in a customer initiated investment related written complaint on December 27, 2016, in which the customer requested more than $5,000.00 in damages based upon allegations that Lee misrepresented the terms of investments effected in the customer’s account,…
Christopher D. Stoddard, of Norwell, Massachusetts, a stockbroker registered with Wells Fargo Advisors, LLC, was terminated from employment on November 23, 2016, based upon allegations of his conduct which coincided with Stoddard’s September 16, 2016 termination from his former employer, Morgan Stanley. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Stoddard has been named…
George Russel Thoreson, of Bellevue, Washington, a stockbroker formerly registered with Wells Fargo Advisors, LLC, has been named in a customer initiated investment related arbitration claim on February 1, 2017, in which the customer requested $453,886.65 in damages based upon allegations that Thoreson made unsuitable stock recommendations to the customer. Financial Industry Regulatory Authority (FINRA)…
Shahida Arunima Hossain, a stockbroker formerly registered with Wells Fargo Clearing Services, LLC, has been named in a customer initiated investment related written complaint on February 24, 2017, based upon allegations that Hossain invested the customer’s assets in a manner which exceeded the customer’s conservative investment objectives, and utilized margin in the customer’s investment account…
Rhonda Janeen Matthews, of Austin, Texas, a stockbroker formerly registered with Prospera Financial Services, Inc., has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based on allegations that she failed to provide FINRA with a response to FINRA personnel’s information request. Letter No. 2015048158201 (Sept. 19, 2016)….
Jeffrey David Day, of Sarasota, Florida, a stockbroker currently registered with Wells Fargo Advisors Financial Network, LLC, has been named in a customer initiated investment related written complaint on January 23, 2017, based upon allegations that Day made guarantees to the customer regarding the performance of a variable annuity investment, and failed to disclose fees…
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…
Ane S. Plate, of Orlando, Florida, was barred by the Securities and Exchange (SEC) Commission from working as an investment advisor or broker, or associating with firms selling securities or providing investment advice based upon an Order Instituting Administrative Proceedings containing findings that Plate pled guilty to embezzlement, theft, or misapplication in violation of 18…
Steven Rocco Colli, of Morristown, New Jersey, a stockbroker currently registered with Morgan Stanley, has been named in a customer initiated investment related written complaint on February 16, 2017, based upon allegations that Colli, from 2014 to 2017, utilized the customer’s margin without authorization to effect options and equity transactions. Financial Industry Regulatory Authority (FINRA)…
Jeffrey Carmen Sica, of Parsippany, New Jersey, a registered representative associated with Sica Wealth Management, has been named in a customer initiated investment related arbitration claim, which settled on April 27, 2015, for $211,250.00 in damages based upon allegations that Sica effected unsuitable stock and exchange traded fund (ETF) transactions in the customer’s account. Financial…
Alan Neal Rose, of Melville, New York, a stockbroker currently registered with Wells Fargo Clearing Services, LLC, has been named in a customer initiated investment related arbitration claim on January 16, 2017, in which the customer requested $100,000.00 in damages based upon allegations that from 2013 to 2016, Rose over-concentrated the customers’ portfolio in investments…
Stephen Frederick Owen III, of Annapolis, Maryland, a stockbroker currently registered with UBS Financial Services Inc., has been named in a customer initiated investment related arbitration claim on January 12, 2017, in which the customer requested $650,000.00 in damages based upon allegations that from 2015 to 2017, Owen overconcentrated the customer’s investment portfolio in speculative…
Marcus Joseph Debaise, of Glastonbury, Connecticut, a stockbroker formerly registered with Wells Fargo Advisors, LLC, has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he failed to provide a response to FINRA pursuant to an information request. Letter No. 2015046925901 (May…
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…
Michael Jay Sharenow, of Florham Park, New Jersey, a stockbroker formerly registered with Wells Fargo Advisors, LLC, has been named in a customer initiated investment related written complaint on November 1, 2016, based upon allegations that Sharenow effected unauthorized corporate debt securities transactions in the customer’s account. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals…
Charles Bernard Lynch, a stockbroker formerly registered with Wells Fargo Advisors, LLC, has been named in Forty Three customer initiated investment related disputes between October 6, 2014, and August 9, 2016, which collectively settled for $6,932,566.03 in damages based upon allegations against Lynch which included unsuitability, misrepresentation, negligence, and account mismanagement. Financial Industry Regulatory Authority…
William Robert Berg, of Mesa, Arizona, a stockbroker currently registered with Wells Fargo Clearing Services, LLC, has been named in a customer initiated investment related arbitration claim, which settled on October 19, 2016 for $25,000.00 in damages based upon allegations that in 2014, Berg overconcentrated the customer’s assets in oil and gas equities that were…
Charles Louis Laubach, of Baltimore, Maryland, a stockbroker formerly registered with Chapin David Investments, has been terminated from employment on March 18, 2016, based upon allegations that he did not follow his firm’s supervisory protocols and mismarked investment transaction tickets. This is not the first time that Laubach has been terminated by a brokerage firm…
Mark H. Botsford, of Alexandria, Virginia, a stockbroker formerly registered with Wells Fargo Advisors, LLC, has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity based upon consenting to findings that he engaged in outside business activities which were not approved by Wells Fargo. Letter of Acceptance, Waiver…
David Kenneth Rubenstein, of Farmington Hills, Michigan, a stockbroker formerly registered with Wells Fargo Advisors, LLC, was terminated from employment on April 11, 2016, based upon allegations pertaining to misconduct committed at his prior firm, Ameriprise Financial Services, Inc. FINRA Public Disclosure reveals that Rubenstein’s registration was terminated from Ameriprise Financial Services, Inc. on July…
Wells Fargo Advisors, LLC, and Wells Fargo Advisors Financial Network, LLC, both headquartered in Saint Louis, Missouri, have been censured and fined $1,000,000.00 by Financial Industry Regulatory Authority (FINRA) based upon consenting to findings that the firms failed to supervise consolidated reports that were disseminated to customers concerning outside assets. Letter of Acceptance, Waiver and…
Jeffrey A. Hill, of Bemidji, Minnesota, a stockbroker formerly associated with Dougherty Company LLC, was 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 utilized unauthorized discretion in customer accounts, and made unsuitable investment recommendations to customers. Letter of Acceptance, Waiver…
Sven Bernhard Karlen, of Lebanon, New Hampshire, a stockbroker formerly registered with Wells Fargo Advisors, has been fined $15,000.00 and suspended for six months from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that he effected trades in customer accounts without authorization, mismarked order tickets, caused…
Thomas G. Gresham, of Overland Park, Kansas, a stockbroker formerly associated with Wells Fargo Advisors, LLC, has been subject to five customer initiated arbitration claims on July 10, 2015, which were settled for a total of $655,000.00 in damages based upon allegations against Gresham including unsuitable investment recommendations, breach of fiduciary duties, unjust enrichment, and…
Robert James Batchen, of Skokie, Illinois, a stockbroker formerly registered with Wells Fargo Advisors, LLC, was fined $15,000.00 and suspended for five months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he effected unauthorized discretionary trades and unsuitable transactions in a customer account. Letter of…
Donald Shelby Toomer, of Las Vegas, Nevada, a stockbroker formerly associated with Wells Fargo Advisors Financial Network, LLC, was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity per a FINRA Officer of Hearing Officers Expedited Hearing Panel Decision containing findings that Toomer refused to cooperate with a FINRA…
Rushton L. Ardrey III, of Boston Massachusetts, a stockbroker with Newport Coast Securities, Inc., is currently subject to pending customer disputes. Particularly, on February 9, 2016, Ardrey became subject to a pending customer dispute in which he was alleged to have engaged in unauthorized and unsuitable trading. According to FINRA Public Disclosure Records, Ardrey has…
Barbara L. Bottoms, of Fairbanks, Arkansas, a stockbroker with Wells Fargo Advisors, LLC, was fined $17,500.00 and suspended for two years from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that she engaged in the unauthorized trading in customer accounts. Letter of Acceptance, Waiver and Consent,…
Daniel John Meyers, of New Haven, Connecticut, a stockbroker with Morgan Stanley, was fined $10,000.00 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. 2015048045501 (Aug. 19, 2016)….
Robert Tuffy, of East Brunswick, New Jersey, a stockbroker with Wells Fargo Advisors, LLC, was fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that he engaged in the unauthorized trading in a customer account. Letter of Acceptance, Waiver and Consent, No….
James McCormick, Jr., of Harrisonburg, Virginia, a stockbroker with Wells Fargo Advisors, 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 with a FINRA investigation into allegations stemming from customer complaints against McCormick. Letter of Acceptance, Waiver and Consent,…
Paul Anthony Akre, of Waukesha, Wisconsin, a stockbroker with Wells Fargo Advisors, LLC, was fined $15,000.00 and suspended for four months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he engaged in unauthorized outside business activities, a private securities transaction, and improper loans with customers….
Christopher J. Pierce, of Exton, Pennsylvania, a representative with Wells Fargo Advisors, was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that converted customer funds. According to the AWC, on March 1, 2016, Pierce had issued a Wells Fargo client a debit card,…
Brett W. Burgesser, of Orlando, Florida, a stockbroker with Wells Fargo Advisors, LLC, was fined $5,000.00 and suspended for sixty-days from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he engaged in the unsuitable switching of mutual funds in customer accounts. Letter of Acceptance, Waiver and…
Apostolos Nicholas Papadea, of Columbia, South Carolina, a registered representative with Wells Fargo Advisors, was fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member firm after consenting to findings that he engaged in unauthorized discretionary trading in customer accounts. Letter of Acceptance, Waiver and Consent, No. 2015048044301 (Apr. 19, 2016)….
Mark Peter Koestner, of Naples, Florida, a stockbroker with Wells Fargo Advisors, LLC, was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that he obstructed a FINRA investigation into allegations that he engaged in unauthorized private securities transactions. Letter of Acceptance, Waiver and…
Jorge Gonzalez, of Closter, New Jersey, a stockbroker with Wells Fargo Advisors, LLC and branch-manager for Wells Fargo Advisor’s affiliate banking company, was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that he converted customer funds. Letter of Acceptance, Waiver and Consent, No….
The financial sector has always taken a cost benefit approach to stockbroker misconduct. Modest income producing stockbrokers may be fired or terminated after one complaint or disclosable incident. However, the pay-out to customers of the larger producers is simply the cost of doing business, and it is not uncommon to see registered representatives, with extensive…
Jacob T. Turner of Orlando, Florida, a stockbroker with Cambridge Investment Research, Inc., was fined $5,000 and suspended for three months from associating with any Financial Industry Regulatory Authority (FINRA) member in any and all capacities after consenting to findings that he made unsuitable recommendations to customers. Letter of Acceptance, Waiver, and Consent, No. 2013036516301…
Katherine Lapidoth of Aventura, Florida, a stockbroker with Wells Fargo Advisors, has been suspended for two years from association with any Financial Industry Regulatory Authority (FINRA) member and fined $15,000 in connection with an Office of Hearing Officers Order Accepting Offer of Settlement that contained findings that Lapidoth provided false information to regulators and failed to…
Valentino Infante of Miami, Florida, a Stockbroker with Wells Fargo Advisors LLC, was barred from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity per an Office of Hearing Officers Default Decision containing findings that Infante engaged in outside business activities without providing his employer with prior written notice; provided false…
Timothy Rodgers of Overland Park, Kansas, a registered stockbroker with Wells Fargo Advisors, LLC, was fined $10,000 and suspended for five months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he had engaged in unauthorized private securities transactions and made false statements to his firm…
Katherine Lapidoth of Aventura, Florida, a registered representative with Wells Fargo Advisors, has been charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement in a Complaint alleging that Lapidoth had provided false information to regulators and failed to comply with a FINRA investigation into her potential misconduct. Department of Enforcement v. Lapidoth, No. 2013039650502…
Andrew Lyman Quinn of Reno, Nevada, a stockbroker with Stifel, Nicolaus & Company, 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 Quinn failed to respond to FINRA’s requests for information in connection with an investigation…
James G. Christianson from Portland, Oregon a Stockbroker with Wells Fargo Advisors, LLC, was suspended for fifteen days from association with all Financial Industry Regulatory Authority (FINRA) members and fined $10,000 after consenting to findings that he exercised discretion in three accounts of a customer without obtaining written authorization from the customer and without written…
Jeffrey D. Daggett, a Stockbroker with Wells Fargo Advisors, received a four-month suspension from association with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity, as well as a $20,000.00 fine after consenting to findings that he recommended unsuitable transactions in exchange trade notes, as well as leveraged and inverse leveraged exchange traded…
Sylvester King Jr., a Stockbroker with Morgan Stanley Smith Barney LLC, was suspended from association with any Financial Industry Regulatory Authority (FINRA) member in any and all capacities for eighteen months and fined $35,000 after consenting to findings that he circumvented his firm’s policies and procedures, made an unauthorized loan to a customer, and engaged…
Kamran Daryush Nougzust, a registered representative with Wells Fargo Advisors, was permanently bared from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after failing to provide information and documentation requested by FINRA in connection with an investigation into Nougzust’s alleged conversion of a bank’s trust funds. Letter of Acceptance, Waiver,…
Daniel Hillius, a registered representative with Wells Fargo Advisors, LLC, was permanently barred from association with any FINRA member firm in any capacity after consenting to Financial Industry Regulatory Authority (FINRA) findings that he misappropriated and forged another person’s check while converting funds for his own benefit. Letter of Acceptance, Waiver, and Consent No. 2014041988001…
Philip Earl Brunson, a registered representative with PNC Investments and Wells Fargo Advisors, LLC, 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 cooperate with their investigation in connection with allegations that Brunson converted customer funds. Letter of Acceptance,…
Nicholas Harper, a registered representative with Wells Fargo Advisors, LLC, was permanently barred from the securities industry for life after consenting to findings that he failed to cooperate with an investigation into discretionary trading activities. Letter of Acceptance, Waiver, and Consent No. 2013038203401 (May 13, 2015). According to the AWC, Harper was employed with Wells…
Robert Neil Tricarico, formerly a general securities representative with LPL Financial, LLC, was permanently barred from associating with any FINRA member in any capacity after failing to provide information and documentation requested by FINRA in connection with an investigation into allegations that Tricarico converted customer funds. FINRA Letter of Acceptance, Waiver, and Consent No. 2014043719001…
Richard Ohrn, a former general securities rep with Wells Fargo Advisors, LLC, was permanently barred from associating with any FINRA member capacity after consenting to FINRA findings that Ohrn had converted customer funds, forged/falsified documents, caused his firm’s records and books to be false, and guaranteed a customer against financial loss. FINRA Department of Enforcement…
Aaron R. Parthemer, a former financial advisor with Wells Fargo Advisors, LLC, was permanently barred from association with any FINRA member in any capacity after consenting to FINRA findings that he engaged in unapproved outside business activities, unlawful loans to customers, private securities transactions, false written responses to FINRA pursuant to 8210 requests, and false…
Between August 2005 and July 2012, Wells Fargo Advisors, together with its predecessor, Wachovia Securities sold more than $12 million of Structured Repackaged Asset-Backed Trust Securities or “STRATS” to its retail customer. Structured Repackaged Asset-Backed Trust Securities Structured Repackaged Asset-Backed Trust Securities are a complex structured product who return is based upon a floating rate based…
Jack Allen Scherbert of Sparks Nevada was barred by the Financial Industry Regulatory Authority or for life following his failure to cooperate, as required by FINRA Rules, in connection with its investigation that Scherbert made false guaranties regarding return of interest and principal to Wells Fargo Advisors customers in connection with the recommendation and sale…
Wells Fargo Advisors, a FINRA member Firm since 1987 headquartered in St. Louis, Missouri, conducts retail brokerage / wealth management business via 7,000 branch offices and employs roughly 25,000 registered reps. The Firm, in proposing settlement of rule violations alleged by FINRA without admitting or denying the findings, consented to a FINRA censure and fine…
Brian M. Berger, a former Newbridge Securities Broker, was barred from association with any FINRA-registered firm in all capacities after Berger failed to cooperate with a FINRA investigation in connection with allegations that he misappropriated funds from elderly customers while registered with Wells Fargo Advisors LLC and MetLife Securities, Inc. FINRA Letter of Acceptance, Waiver…
The Financial Industry Regulatory Authority (FINRA) fined Wells Fargo Advisors, LLC of St. Louis, $1 million for its failure to deliver prospectuses in a timely manner to customers who purchased mutual funds in 2009, and for delays in reporting material information about its current and former representatives, including arbitrations and complaints involving its representatives. Firms’…
Morgan Stanley & Co. LLC has consented to be fined $1.75 million by the Financial Industry Regulatory Authority (FINRA) for its failure to supervise the sale of complex financial products known as non-traditional exchange-traded funds, as well as for making unsuitable recommendations of these funds. In addition to the fine, Morgan Stanley consented to a…
Wells Fargo Advisors and its related firms have agreed to pay a fine of $2.1 million to settle a disciplinary action brought by the Financial Industry Regulatory Authority (FINRA) for the companies’ failure to supervise the sale of complex financial products known as non-traditional exchange-traded funds, as well as for making unsuitable recommendations of these…
Wells Fargo Investments LLC has been fined $2 million for failure to supervise the conduct of one of its brokers who sold unsuitable reverse convertible securities to elderly customers, the Financial Industry Regulatory Authority, or FINRA, announced on Dec. 15. The firm was also censured. The fine also covered Wells Fargo’s also failure to provide…
UBS Financial Services Inc. has agreed to pay a $1.5 million fine after the Financial Industry Regulatory Authority (FINRA) charged the firm with failure to supervise the sale of complex financial products known as non-traditional exchange-traded funds, as well as for making unsuitable recommendations of these funds. In addition to the fine, UBS Financial Services…
Citigroup Global Markets Inc. has been fined $2 million by the Financial Industry Regulatory Authority (FINRA) for failure to supervise and for making unsuitable recommendations in connection with the sale of complex financial products known as non-traditional exchange-traded funds. The firm submitted a Letter of Acceptance, Waiver and Consent (AWC) to settle a FINRA disciplinary…
A former stockbroker for Wells Fargo Advisors LLC has been fined $5,000 and suspended from the financial industry for six months for changing dates and account numbers on forms without customers’ permission. In June 2010, Judith Martin altered the dates and account numbers on 25 Initial Public Offering (IPO) Certification Forms that the Wells Fargo…
Former stockbroker Ralph Edward Thomas Jr., who pleaded guilty to mail fraud in September, has been barred for life by the Financial Industry Regulatory Authority (FINRA) for conversion of more than $800,000 in customer funds to his own use. According to FINRA, Thomas misappropriated the money from three vulnerable customers between December 2001, and July…