Archive by Author

UBS Financial Broker Fired For Unauthorized Trading

April 10, 2019  |   Posted by :   |   Elder Abuse, Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Thomas Lawrence Huber of Rochester New York a stockbroker formerly registered with UBS Financial Services Inc. has been discharged by the firm on September 12, 2018 supported by allegations that (1) Huber effected unauthorized trades and liquidations in a customer’s account (2) Huber inappropriately placed a customer in an account to generate unapproved compensation (3) […]

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JP Morgan Blamed By Investors For Bad Advice

Brian Nicholas Degrado of Chicago Illinois a stockbroker currently employed by J.P. Morgan Securities LLC is referenced in a customer initiated investment related written complaint on January 30, 2019 where the customer sought $16,566.55 in damages supported by accusations that investment recommendations made to the customer were not suitable causing losses on the customer’s managed […]

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Stifel Nicolaus Sued By Investors For Fraud

Stephen Paul Courtney of Pasadena California a stockbroker currently employed by Stifel Nicolaus Company Incorporated is the subject of a customer initiated investment related arbitration claim where the customer sought $238,050.00 in damages supported by accusations that (1) transactions were effected in violation of the securities laws of the State of California (2) misrepresentations and […]

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Investors Sue Reid Rudiger For Misconduct

April 10, 2019  |   Posted by :   |   Failure to Execute, Stockbroker Fraud News   |   0 Comments

Clifford Ronald Reid of New York New York a stockbroker currently employed by Reid Rudiger LLC is referenced in a customer initiated investment related arbitration claim in which the customer requested $250,000.00 in damages supported by accusations that a stop loss order was not executed on the customer’s over-the-counter equities holdings according to the customers […]

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Investors Accuse Morgan Stanley Of Excessive Trading

James Samuel Mewhinney III of Dallas Texas a stockbroker formerly registered with Morgan Stanley is the subject of a customer initiated investment related written complaint on November 19, 2018 in which the customer requested $550,000.00 in damages based upon accusations that while Mewhinney was associated with Morgan Stanley: (1) Mewhinney effected trades in the customer’s […]

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Bonwick Capital Partners Owner Barred For Conversion

April 10, 2019  |   Posted by :   |   Stockbroker Fraud News, Stockbroker Theft   |   0 Comments

Devin Lamarr Wicker of New York New York the majority owner, Chief Executive Officer and Chief Compliance Officer of Bonwick Capital Partners LLC 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 Wicker converted a customer’s funds. Department […]

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Wells Fargo Accused Of Failure to Disclose Fees

April 10, 2019  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

John Raymond Lenarz of Dickinson North Dakota a stockbroker currently registered with Wells Fargo Clearing Services LLC is referenced in a customer initiated investment related complaint which was resolved on November 2, 2018 for $64,783.18 in damages based upon accusations that between September of 2018 and October of 2018, omissions had been made to the […]

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Oriental Financial Sued By Investors For Fraud

Pedro Juan Rodriguez Rivera of San Juan Puerto Rico a stockbroker formerly registered with Oriental Financial Services Corp. is the subject of a customer initiated investment related arbitration claim in which the customer requested $463,417.00 in damages supported by accusations that (1) misrepresentations had been made to the customer concerning the risks of investments chosen […]

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Moorestown Stockbroker Admits To Unauthorized Trading

Farrukh Shazad Kazmi of Moorestown New Jersey a stockbroker currently registered with Berthel Fisher Company Financial Services Inc. has been fined $20,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity according to an Order Accepting Offer of Settlement containing findings that (1) Kazmi made unauthorized trades in customer […]

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Investors Sue Laidlaw Company For Churning

Nicholas Sabellico of Fort Lauderdale Florida a stockbroker formerly registered with Laidlaw Company (UK) Ltd. is the subject of a customer initiated investment related arbitration claim in which the customer requested $25,413.00 in damages supported by accusations that between 2015 and 2017: (1) transactions executed in the customer’s account were in no way appropriate for […]

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RBC Capital Sued By Investors For Unauthorized Trading

James Frederick Sowerine of Billings Montana a stockbroker currently employed by RBC Capital Markets LLC is referenced in a customer initiated investment related arbitration claim which was settled for $80,000.00 in damages based upon allegations that (1) Sowerine executed unauthorized trades in the customer’s account and (2) Sowerine inappropriately placed the customer in energy sector […]

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Newbridge Stockbroker Barred For Selling Away

Dennis Allen Hayes of Boca Raton Florida a stockbroker formerly employed by Newbridge Securities Corporation has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity according to a FINRA Office of Hearing Officers Order Accepting Offer of Settlement containing findings that (1) Hayes engaged in private securities transactions while […]

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Investors Accuse Morgan Stanley Of Unauthorized Trading

April 10, 2019  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

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 […]

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Merrill Lynch Sued By Investors For Municipal Bond Fraud

Derek David Rosenberg of Las Vegas Nevada a stockbroker formerly registered with Merrill Lynch Pierce Fenner Smith Incorporated is referenced in a customer initiated investment related arbitration claim which was settled for $70,000.00 in damages based upon allegations that misrepresentations had been made to the customer concerning municipal debt investments selected for the customer’s account […]

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FINRA Bars Mutual Of Omaha Broker In Investigation

Edward Earl Matthes (also known as Ed Matthes) of Oconomowoc Wisconsin a stockbroker formerly registered with Mutual of Omaha Investor Services Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he failed to cooperate with FINRA in an investigation into accusations […]

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Raymond James Fires Broker For Unit Investment Trust Misconduct

April 10, 2019  |   Posted by :   |   Stockbroker Fraud News, Suitability, Unit Investment Trusts   |   0 Comments

Franklin Hamilton Reynolds of Charlotte North Carolina a stockbroker formerly employed by Raymond James Associates Inc. has been discharged by the firm on October 22, 2018 based upon the firm’s allegations that Reynolds engaged in suspicious activities concerning unit investment trusts while associated with the firm. Financial Industry Regulatory Authority (FINRA) Public Disclosure additionally reveals […]

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Investors Accuse WFG Investments Of Exchange Trades Notes Fraud

Damian Marlon Bell of Daphne Alabama a stockbroker formerly employed by WFG Investments is the subject of a customer initiated investment related complaint on June 15, 2018 where the customer sought $72,000.00 in damages founded on allegations that the customer was placed into unsuitable exchange traded note and mutual fund products; and was assessed unwarranted […]

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Pruco Fires Stockbroker For Outside Business Activities

Joseph Peter Gulbin Jr. of Shelton Connecticut a stockbroker formerly employed by Pruco Securities LLC has been discharged by the firm on November 9, 2018 founded on accusations that (1) Gulbin participated in outside business activities which had not been disclosed to Pruco Securities or approved by the firm and (2) Gulbin furnished insurance policy […]

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Investors Sue UBS Financial For Hedge Fund Fraud

Carolyn Marie Thur of Chicago Illinois of Oakbrook Terrace Illinois a stockbroker formerly registered with UBS Financial Services Inc. is the subject of a customer initiated investment related arbitration claim in which the customer requested $225,000.00 in damages founded on allegations that (1) omissions had been made to the customer concerning the risks, portfolio composition […]

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Allstate Financial Broker Sanctioned By FINRA For Forgery

April 10, 2019  |   Posted by :   |   Forgery, Stockbroker Fraud News   |   0 Comments

Robert L. Bryant III of Lincoln Nebraska a stockbroker formerly registered with Allstate Financial Services LLC has been fined $5,000.00 and suspended for three months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings that Bryant forged customer account documents and caused Allstate Financial Services to hold false […]

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Popular Securities Sued By Investors In Puerto Rican Bonds

April 10, 2019  |   Posted by :   |   Bond Fraud, Stockbroker Fraud News   |   0 Comments

Yolanda M. Rosich Clemente of San Juan Puerto Rico a stockbroker currently registered with Popular Securities is referenced in a customer initiated investment related arbitration claim in which the customer requested $235,000.00 in damages supported by accusations that the customer was inappropriately advised to invest in Puerto Rico securities including closed end fund and government […]

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FINRA Bars Coastal Equities Brokers For Churning

April 10, 2019  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Sam Aziz (also known as Sam Yehya and Sam Azizieh) of Dublin Ohio a stockbroker formerly registered with Costal Equities Inc. and David A. Noyes Company has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Aziz failed to cooperate with FINRA in […]

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RBC Capital Markets Blamed For Defective Investment Advice

April 10, 2019  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Anthony John Salerno (also known as AJ Salerno) of South Easton Massachusetts a stockbroker formerly employed by RBC Capital Markets LLC is referenced in a customer initiated investment related complaint on May 17, 2018 where the customer sought damages estimated to exceed $5,000.00 supported by allegations that unsuitable common or preferred stock recommendations had been […]

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Investors Sue Wunderlich For Breach Of Fiduciary Duty

Bassam S. Salem of Birmingham Michigan a stockbroker formerly registered with Wunderlich Securities Inc. is the subject of a customer initiated investment related arbitration claim that settled for $50,000.00 supported by accusations that between January of 2011 and February of 2017: (1) poor investment recommendations were made to the customer concerning over the counter equities […]

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Summit Fires Stockbroker For Unauthorized Activities

April 10, 2019  |   Posted by :   |   Forgery, Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Eric John Zebrauskas of Carmel Indiana a stockbroker formerly employed by Summit Brokerage Services Inc. has been discharged on October 3, 2018 supported by accusations of Zebrauskas causing a customer to furnish signed but blank documents to effect investment transactions. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that this is not the first time […]

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Centaurus Financial Sued By Investors For REIT Misconduct

Bryon Edwin Martinsen of Kings Park New York a stockbroker currently employed by Centaurus Financial Inc. is referenced in a customer initiated investment related arbitration claim in which the customer requested $127,000.00 in damages based upon accusations that Martinsen gave the customer bad advice concerning real estate securities held in the customer’s investment portfolio between […]

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NYLife Broker Sanctioned For Unauthorized Transactions

April 10, 2019  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Nathan Michael Badowski of Timonium Maryland a stockbroker formerly registered with NYLife Securities LLC is the subject of an Order issued by the Commonwealth of Virginia State Corporation Commission which revoked Badowski’s agent registration in the Commonwealth based upon accusations that Badowski engaged in business as an insurance company’s agent even though Badowski lacked any […]

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FINRA Suspends Garden State Broker In Investigation

Garland Sean James (also known as Gary James) of New York New York a stockbroker formerly employed by Garden State Securities Inc. has been suspended by Financial Industry Regulatory Authority (FINRA) in all capacities on December 7, 2018 founded on allegations that James failed to comply with the terms of FINRA Arbitration in which James […]

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Royal Alliance Broker Sentenced To Prison For Fraud

Kimberly Pine Kitts of Palmer Massachusetts a stockbroker formerly registered with Royal Alliance Associates Inc. was sentenced by a federal district court judge to more than seven years in prison, three years of supervised release and required to pay restitution of $3,085,939.00 according to the United States Attorney’s Office based upon Kitts pleading guilty to […]

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Investors Accuse Wells Fargo Of Direct Investment Fraud

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 […]

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Morgan Stanley Broker Sanctioned For Customer Loans

April 10, 2019  |   Posted by :   |   Customer Loans, Stockbroker Fraud News   |   0 Comments

Ellen Jane Donnelly (also known as Ellen Jane Fleming) of Red Bank New Jersey a stockbroker formerly employed by Morgan Stanley has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Donnelly entered into an unauthorized loan arrangement in which she failed to […]

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FINRA Bars Cherry Hill Allstate Stockbroker In Theft Investigation

Ciro Joseph Santoro of Cherry Hill New Jersey a stockbroker formerly registered with Allstate Financial Services LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that Santoro did not provide FINRA with information that had been requested of him during its inquiry into Santoro’s […]

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Key Investment Services Accused Of Annuity Fraud

April 10, 2019  |   Posted by :   |   Annuity Schemes, Stockbroker Fraud News   |   0 Comments

John L. Knight of Ann Arbor Michigan a stockbroker formerly employed by Key Investment Services is referenced in a customer initiated investment related written complaint which was resolved for $13,932.48 on May 18, 2016 supported by accusations that misrepresentations had been made to the customer concerning a fixed annuity issued by Great American Life Assurance […]

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Morgan Stanley Accused Of Misrepresenting Fees

April 10, 2019  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

John Blair Knoth of Carlsbad California a stockbroker formerly employed by Morgan Stanley is the subject of a customer initiated investment related written complaint on August 22, 2018 where the customer sought unspecified damages based upon accusations that misrepresentations had been made to the customer concerning commissions charged on options trades placed in the customer’s […]

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FINRA Bars State Farm Stockbroker In Investigation

Bradley Allen Latting of Lawton Oklahoma a stockbroker formerly registered with State Farm VP Management Corp has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he neglected to comply with FINRA’s investigation into accusations of (1) Latting’s conversion of an elderly customer’s […]

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RBC Capital Stockbroker Fired For Unauthorized Transactions

April 10, 2019  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Jannet Siegle Carpien (also known as Jannet Helen Carpien and as Janet Siege Carpien) of Washington District of Columbia a stockstockbroker formerly registered with RBC Capital Markets LLC has been discharged by the firm on August 2, 2018 based upon allegations that Carpien failed to abide by the firm’s policy when she effected an unauthorized […]

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Allstate Blamed By Investors For Bad Annuity Recommendations

April 10, 2019  |   Posted by :   |   Annuity Schemes, Stockbroker Fraud News   |   0 Comments

James Vincent Prosperi of Rochester New York a stockstockbroker formerly employed by Allstate Financial Services LLC is referenced in a customer initiated investment related written complaint on September 24, 2018 where the customer requested damages estimated to exceed $5,000.00 based upon accusations that while Prosperi was associated with Allstate Financial Services: (1) the customer was […]

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SEC Bars Morgan Stanley Stockbroker For Fraud

Cornelius Peterson of Boston Massachusetts an investment adviser representative and stockstockbroker formerly employed by Morgan Stanley has been barred by the Securities and Exchange Commission (SEC) from associating with any investment advisor or stockbrokerage firm according to an Order Instituting Administrative Proceedings According to Investment Advisers Act of 1940 Section 203(f) and Securities Exchange Act […]

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Investors AccuseWoodbury Financial Of Insurance Fraud

April 10, 2019  |   Posted by :   |   Annuity Schemes, Stockbroker Fraud News   |   0 Comments

Barry Matthew Rumpel of Neillsville Wisconsin a stockstockbroker formerly registered with Woodbury Financial Services is the subject of a customer initiated investment related written complaint on January 23, 2018 where the customer sought $35,055.39 in damages founded on accusations that the customer was placed in a variable universal life insurance policy that was not suitable […]

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LPL Financial Stockbroker Barred In Investigation

James Cornelius Bylenga of Portage Michigan a stockstockbroker formerly employed by 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 in FINRA’s investigation into Bylenga’s possible loan arrangements with customers of LPL Financial LLC. Letter of Acceptance […]

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Investors Sue Stockbroker For Investment Fraud

Leonard Joseph Marzocco of Melville New York a stockstockbroker formerly registered with Rockwell Global Capital LLC is referenced in a customer initiated investment related arbitration claim which was settled for $10,500.00 in damages supported by accusations that (1) Marzocco breached his fiduciary duties to the customer (2) Marzocco misrepresented the terms and conditions of over-the-counter […]

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Investors Accuse Cantella Stockbroker Of Unauthorized Trading

Ricardo Eduardo Harmsen of Pittsboro North Carolina a stockstockbroker currently registered with Cantella Co. Inc. is the subject of a customer initiated investment related complaint on February 11, 2019 in which the customer sought $200,000.00 in damages supported by allegations that a transfer of the customer’s assets had been effected without the customer’s permission while […]

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BBVA Stockbroker Fired For Altering Retirement Account Beneficiaries

April 10, 2019  |   Posted by :   |   Forgery, Stockbroker Fraud News   |   0 Comments

Joshua D. Griffin of Birmingham Alabama a stockstockbroker formerly employed by BBVA Securities Inc. has been terminated by the firm on July 7, 2018 during which time Griffin had been suspended and investigated by the firm concerning allegations of (1) Griffin’s impermissible altering of a customer’s individual retirement account certificate of deposit beneficiary designation and […]

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Legend Securities Compliance Officer Admits To Misconduct

Christopher Nicholas Cacace of New York New York a former Chief Compliance Officer of Legend Securities Inc. has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Cacace failed to inform FINRA about customer initiated investment related disputes alleging the […]

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Investors Sue Aegis Capital For Fraud

Gregory Spencer O’Brien of New York New York a stockstockbroker formerly employed by Aegis Capital Corp. is the subject of a customer initiated investment related arbitration claim in which the customer sought $100,000.00 in damages supported by accusations that between 2011 and 2018: (1) the customer’s account was handled in a negligent manner (2) the […]

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UBS Financial Fires Stockbroker For Lying In SEC Investigation

Bruce Davis Smith of Atlanta Georgia a stockbroker formerly employed by UBS Financial Services Inc. has been discharged by the firm on August 7, 2018 supported by allegations that Smith was not forthcoming to the firm concerning his involvement with a customer in transactions referenced in a Securities Exchange Commission (SEC) inquiry. Financial Industry Regulatory […]

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Investors Sue TriPoint For Failure To Conduct Due Diligence

April 10, 2019  |   Posted by :   |   Private Placement Fraud, Stockbroker Fraud News   |   0 Comments

Michael Robert Boswell of Gaithersburg Maryland a stockbroker currently employed by Tripoint Global Equities LLC is the subject of a customer initiated investment related civil action brought in the United States District Court for the Southern District of New York which was settled for $400,000.00 founded on allegations that there was a lack of due […]

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Parkland Securities Sanctioned By FINRA For Failure To Supervise

Parkland Securities LLC a stockbrokerage firm headquartered in Ann Arbor Michigan has been censured and fined $20,000.00 by Financial Industry Regulatory Authority (FINRA) based upon the firm’s consent to findings that it failed to create and implement a supervision system pertaining to non-traditional exchange traded fund transactions. Letter of Acceptance Waiver and Consent No. 2016052300601 […]

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Wells Fargo Sued By Investors For Hedge Fund Fraud

Mikhail Filshtinskiy of Brooklyn New York a stockbroker formerly employed by Wells Fargo Advisors Financial Networks is the subject of a customer initiated investment related arbitration claim in which the customer requested $8,674,063.93 in damages founded on accusations that the customers were victim to a fraudulent scheme involving Filshtinskiy and a hedge fund manager. Financial […]

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BBVA Stockbroker Barred In Investigation

Adrian Torres Ortega of Sun City West Arizona a stockbroker formerly employed by BBVA Securities Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings that Ortega failed to cooperate with a FINRA investigation into accusations of his unauthorized transfer of a customer’s investment funds. […]

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Investors Sue Merrill Lynch For Bad Investment Advice

Jacquin P. Fink of New York New York a stockbroker formerly registered with Merrill Lynch Pierce Fenner Smith Incorporated is the subject of a customer initiated investment related arbitration claim in which the customer requested $3,581,198.00 in damages supported by accusations of bad investment recommendations being made to the customer concerning (1) over-the-counter equities (2) […]

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Foresters Equity Stockbroker Caught Selling Away

John Dale Ernst of San Diego California a stockbroker formerly employed by Foresters Equity Services Inc. has been fined $5,000.00 and suspended for nine months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings that Ernst engaged in private securities transactions involving the sale of Woodbridge promissory notes. […]

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Investors Accuse Securian Financial Of Investment Fraud

April 10, 2019  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Vincent Bruce Waln of West Chester Ohio a stockbroker formerly employed by Securian Financial Services Inc. is referenced in a customer initiated investment related written complaint on December 13, 2017 where the customer sought damages estimated to exceed $5,000.00 based upon accusations that Waln made misrepresentations to the customer concerning the terms and conditions of […]

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FINRA Catches LPL Financial Stockbroker Selling Away

Scott Patrick Klor of Fort Mill South Carolina a stockstockbroker formerly registered with LPL Financial LLC has been fined $5,000.00 and suspended for fourteen months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he engaged in securities transactions away from LPL Financial LLC and […]

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Investors Win Against Fintegra CEO In Promissory Note Scheme

Doreen Lea Weber (also known as Doreen L. Tyler Strand and as Doreen Lea Strand) the former Chief Executive Officer of Fintegra LLC. is named in a customer initiated investment related arbitration claim in which the customer was awarded $20,000.00 in compensatory damages based upon Weber being found liable on the customer’s claims of (1) […]

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National Securities Stockbroker Admits To Unauthorized Trading

James Bryant Eichner Jr. of New York New York a stockstockbroker formerly registered with National Securities Corporation has been fined $10,000.00 and suspended for forty-five days from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Eichner executed unauthorized trades in a customer’s account. Letter of […]

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Merrill Lynch Sued For Options Fraud

Heather Peterson Weber of Tampa Florida a stockbroker currently registered with Merrill Lynch Pierce Fenner Smith Incorporated is the subject of a customer initiated investment related arbitration claim which was resolved for $92,500.00 in damages based upon accusations that (1) misrepresentations had been made to the customer concerning the terms or risk of options trades […]

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RBC Capital Markets Sued For Overconcentration

Irwin Maisner (also known as Gerald Irwin Maisner and as Gerry Maisner) of Westport Connecticut a stockstockbroker currently registered with RBC Capital Markets LLC is referenced in a customer initiated investment related arbitration claim where the customer sought $50,000.00 in damages based upon accusations that (1) Maisner poorly advised the customer concerning investments in oil […]

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Investors Sue Merrill Lynch For Misrepresentation

John Joseph Birkhauser of Lake Forest Illinois a stockstockbroker currently employed by Merrill Lynch Pierce Fenner Smith Incorporated is referenced in a customer initiated investment related arbitration claim which was settled for $10,000.00 in damages founded on allegations that (1) misrepresentations had been made concerning the terms or risks of the limited partnership interests sold […]

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FINRA Sanctions Revere Securities For Failure To Supervise

Revere Securities LLC a brokerage firm headquartered in New York New York and Kurt Alfred Hurst (the firm’s branch manager) have been sanctioned by Financial Industry Regulatory Authority (FINRA) based upon FINRA finding in part that the firm failed to supervise its penny stock transactions to ensure compliance with federal securities laws. Letter of Acceptance […]

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FINRA Bars Windsor Street Stockbroker

Francine Ann Lanaia (also known as Fran McPherson) a stockbroker formerly employed by Windsor Street Capital LP has been barred from associating with any Financial industry Regulatory Authority (FINRA) member in any capacity based upon accusations that Lanaia failed to provide FINRA with information that had been requested from her. Case No. 2017052475701 (Oct. 29, […]

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FINRA Bars MML Stockbroker In Investigation

March 28, 2019  |   Posted by :   |   Stockbroker Fraud News, Stockbroker Theft   |   0 Comments

Tyler James Woodward of Colorado Springs Colorado a stockbroker formerly employed by MML Investors Services has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon a FINRA Hearing Panel Decision containing findings that Woodward failed to give documentation to FINRA and provide recorded testimony before FINRA personnel […]

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Mutual Of Omaha Discharges Broker For Insurance Activities

Price A. Breville of Staten Island New York a stockbroker formerly registered with Mutual of Omaha Investor Services Inc. has been discharged on December 5, 2018 founded on allegations that Breville engaged in impermissible business activities concerning a customer’s purchase or sale of an insurance product. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that […]

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Feltl Company Accused Of Unsuitable Investment Strategy

Timothy David O’Brien of Inver Grove Heights Minnesota a stockbroker formerly employed by Feltl Company is the subject of a customer initiated investment related written complaint on December 24, 2018 in which the customer sought $10,000.00 in damages supported by allegations that the customer was inappropriately invested in over-the-counter equities because of those investments failing […]

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Pruco Broker Caught Obtaining Unapproved Customer Loans

March 28, 2019  |   Posted by :   |   Customer Loans, Elder Abuse, Stockbroker Fraud News   |   0 Comments

Kevin Hao Jie Zhang of Dewitt New York a stockbroker formerly registered with Pruco Securities, LLC has been fined $5,000.00 and suspended for three months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings that Zhang engaged in an unapproved loan arrangement with a customer of Pruco Securities. […]

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Investors Accuse Edward Jones Of Fraud

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 […]

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Investacorp Fires Broker For Unauthorized Access To Customer Accounts

Andrew Joseph Fairchild of Parkland Florida a stockbroker formerly employed by Investacorp Inc. has been terminated from employment on December 6, 2018 based upon the firm’s allegations that Fairchild inappropriately contacted a third party to effect withdrawals from customers’ annuities accounts. Financial Industry Regulatory Authority (FINRA) Public Disclosure additionally confirms that a customer filed an […]

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Cetera Blamed By Investors For Annuity Misconduct

March 28, 2019  |   Posted by :   |   Annuity Schemes, Stockbroker Fraud News   |   0 Comments

Kirby Spencer McDonald of Omaha Nebraska a stockbroker currently registered with Cetera Advisors LLC is the subject of a customer initiated investment related written complaint on November 7, 2018 where the customer requested $72,000.00 in damages based upon accusations that the customer was poorly advised concerning a variable annuity transaction which led the customer to […]

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Dakota Securities Expelled For Failure To Supervise

March 28, 2019  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Dakota Securities International Inc. a brokerage firm headquartered in Florida, and Bruce Martin Zipper (the president, Chief Executive Officer and Chief Compliance Officer of Dakota Securities International) have been sanctioned by Financial Industry Regulatory Authority (“FINRA”) according to a National Adjudicatory Council Decision which affirmed a Hearing Panel’s findings that (1) Zipper associated with the […]

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ProEquities Fires Broker For Altering Customer Forms

March 28, 2019  |   Posted by :   |   Forgery, Stockbroker Fraud News   |   0 Comments

Matthew Kenneth Arbo of Portland Maine a stockbroker formerly employed by ProEquities Inc. has been discharged by the firm on October 19, 2018 supported by allegations that (1) Arbo lied to regulators concerning the authenticity of a signature placed on customer account documents and (2) Arbo utlized reused or altered signatures on customer account documents […]

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Investors Blame Merrill Lynch For Bad Investments

March 28, 2019  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Bradford E. Bugher of Wilmington Delaware a stockbroker currently registered with Merrill Lynch Pierce Fenner Smith Incorporated is referenced in a customer initiated investment related written complaint on December 19, 2018 where the customer requested unspecified damages supported by allegations that between November 19, 2018 and December 19, 2018, while Bugher was associated with Merrill […]

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FINRA Bars NYLife Securities Broker In Investigation

March 28, 2019  |   Posted by :   |   Annuity Schemes, Stockbroker Fraud News   |   0 Comments

Judith Adele Johnston of Frisco Texas a stockbroker formerly employed by NYLife Securities LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings that Johnston failed to cooperate with FINRA personnel in the course of an investigation into the complaints lodged against her from customers […]

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Oppenheimer Pays Investor For Unauthorized Trading Claim

March 28, 2019  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Matthew Eric Platnico (also known as Matt Platnico) of New York New York a stockbroker formerly registered with Oppenheimer Co. Inc. is the subject of a customer initiated investment related written complaint which was resolved for $95,690.00 on February 5, 2019 based upon allegations that while Platnico was associated with Oppenheimer: (1) unauthorized options trades […]

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Corinthian Partners Sanctioned For The Failure To Supervise

Corinthian Partners, L.L.C. a brokerage firm headquartered in New York New York and Richard Calabrese (the firm’s majority owner, Chairman, Chief Compliance Officer and President) and Mitchell Manoff (the firm’s Chief Executive Officer) have been sanctioned by Financial Industry Regulatory Authority (FINRA) based upon findings that the firm, Calabrese and Manoff: (1) neglected to supervise […]

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National Securities Corp Sued For Investment Fraud

Richard Anthony Cavileer of Edison New Jersey a stockbroker formerly employed by National Securities Corporation is the subject of a customer initiated investment related arbitration claim where the customer sought $438,190.00 in damages founded on allegations that (1) misrepresentations had been made to the customer concerning the terms and conditions of over-the-counter equities investment purchased […]

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FINRA Sanctions Titan Securities For Investment Fraud

Titan Securities a brokerage firm headquartered in Addison Texas, and Brad Curtis Brooks (the firm’s Chief Executive Officer and President) and Richard Wayne Demetriou (the firm’s registered representative) have been fined by Financial Industry Regulatory Authority (FINRA) according to an Extended Hearing Panel Decision containing findings that (1) misleading or false representations had been made […]

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Investors Accuse UBS Financial Services Of Investment Fraud

March 28, 2019  |   Posted by :   |   Stockbroker Fraud News, Suitability   |   0 Comments

Gerard Joseph Costello of New York New York a stockbroker currently employed by UBS Financial Services Inc. is referenced in a customer initiated investment related complaint on December 26, 2018 in which the customer sought damages estimated to exceed $5,000.00 founded on allegations that misrepresentations had been made to the customer concerning risks of an […]

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The GMS Group Accused Of Investment Fraud

Oscar Andres Rico of Boca Raton Florida a stockbroker formerly registered with The GMS Group LLC is the subject of a customer initiated investment related written complaint which settled for $60,000.00 on December 20, 2018 based upon accusations that Rico made false or misleading statements to the customer concerning Puerto Rico municipal debt investments that […]

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UBS Fires Broker For Failure To Disclose Legal Problems

Patrick Thomas Donohue of New York New York a stockbroker formerly employed by UBS Financial Services Inc. has been terminated on December 7, 2018 founded on the firm’s accusations that Donohue failed to make required disclosures to the firm concerning his legal affairs; conduct violative of the firm’s policies. Financial Industry Regulatory Authority (FINRA) Public […]

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Investors Accuse Wells Fargo Of Investment Fraud

Glen Joseph Webster of Appleton Wisconsin a stockbroker formerly registered with Wells Fargo Clearing Services LLC is referenced in a customer initiated investment related complaint which settled for $145,000.00 on March 14, 2017 based upon allegations that the customer was not provided adequate information concerning the costs of disengaging an outside money manager’s covered call […]

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FINRA Bars International Assets Advisory Broker For Failure To Pay Customer Settlement

Brian Robert Roth of Mendam New Jersey a stockbroker formerly registered with International Assets Advisory LLC has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that Roth failed to cooperate with the provisions of a customer initiated investment related settlement or otherwise confirm with FINRA […]

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Investors Blame Raymond James For Bad Investment Advice

Lisa Ann Detanna of Beverly Hills California a stockbroker currently registered with Raymond James Associates Inc. is the subject of a customer initiated investment related written complaint on January 22, 2019 in which the customer requested $100,000.00 in damages supported by allegations that common and stock transactions executed in the customer’s account were not suitable […]

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FINRA Bars Kestra Stockbroker For Selling Away

George Mackley Robertson of Darien Connecticut a stockbroker formerly registered with Kestra Investment Services LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that (1) Robertson sold away from Kestra Investment Services (2) Robertson engaged in outside business activities without disclosing them […]

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CFD Investments Fires Broker For Churning Customer Accounts

Ziv Ohel of Long Grove Florida a stockbroker formerly employed by CFD Investments Inc. has been discharged on September 6, 2017 based upon accusations from a customer who claimed that (1) unsuitable transactions were executed in the customer’s account (2) fiduciary duties owed to the customer had been breached and (3) trades were placed in […]

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Investors Sue Santander For Fraud

March 28, 2019  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Willie Levon Vales of Conshohocken Pennsylvania a stockbroker formerly registered with Santander Securities LLC is the subject of a customer initiated investment related arbitration claim where the customer requested $285,000.00 in damages founded on accusations of the (1) violation of Pennsylvania Unfair Trade Practices and Consumer Protection Law (2) breach of fiduciary duties and contractual […]

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SEC Bars Thompson Davis Broker For Fraud

Victor M. Dandridge III of Richmond Virginia a stockbroker formerly employed by Thompson Davis Co. Inc. has been barred by Securities and Exchange Commission (SEC) from being an investment advisor or broker or otherwise associating with investment advisories or brokerage firms according to an Order Instituting Administrative Proceedings Pursuant to Securities Exchange Act of 1934 […]

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Centaurus Financial Sued For Bad Investment Advice

March 28, 2019  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Troy Nicholas Tremblay of Santa Barbara California a stockbroker formerly registered with Centaurus Financial Inc. is referenced in a customer initiated investment related arbitration claim in which the customer requested $85,000.00 in damages supported by accusations that Tremblay gave the customer bad advice with regard to the real estate security products purchased by the customer […]

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Raymond James Broker Fired For Concealing Customer Complaint

Ronald Patrick Cameron of Fayetteville Arkansas a stockbroker formerly employed by Raymond James Financial Services Inc. has been terminated by the firm on November 20, 2018 supported by allegations that Cameron was involved in a customer complaint which he resolved outside the firm’s auspices and without the firm’s knowledge. Financial Industry Regulatory Authority (FINRA) Public […]

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Wells Fargo Blamed By Investor For Altering Investment Objectives

Matthew John Quall of Northfield Illinois a stockbroker formerly registered with Wells Fargo Clearing Services LLC is referenced in a customer initiated investment related written complaint on January 23, 2019 in which the customer requested unspecified damages supported by allegations that the customer’s account profile had been misrepresented leading to speculative and inappropriate futures commodity […]

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Morgan Stanley Fires Broker For Outside Business Activities

Kenneth Marc Hutkin of New York New York a stockbroker formerly employed by Morgan Stanley Wealth Management has been discharged by the firm on September 24, 2018 based upon accusations that (1) Hutkin engaged in outside business activities without having disclosed them to the firm and (2) Hutkin received compensation for activities that had not […]

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J.P. Morgan Broker Barred In Selling Away Investigation

Donovan St. Anthony Hunter of Houston Texas a stockbroker formerly employed by J.P. Morgan Securities 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 comply with FINRA’s investigation into accusations that Hunter engaged in unapproved outside business activities […]

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Wells Fargo Sued By Investors For Unsuitable Recommendations

Bryan Edwin Benson of Tucson Arizona a stockbroker currently registered with Wells Fargo Clearing Services is the subject of a customer initiated investment related arbitration claim in which the customer requested $218,257.00 in damages based upon allegations that unsuitable stock transactions had been effected in the customer’s account by Benson while he was associated with […]

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Investors Sue LPL Financial For Annuity Fraud

March 15, 2019  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Ryan Edward Featherston of Tulsa Oklahoma a stockbroker formerly registered with LPL Financial LLC is the subject of a customer initiated investment related civil action brought in the Bourbon County Kentucky Circuit Court in which the customer requested more than $5,000.00 in estimated damages based upon allegations that (1) misrepresentations had been made to the […]

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FINRA Sanctions Sigma Financial For Failure To Supervise

Sigma Financial Corporation a brokerage firm headquartered in Ann Arbor Michigan has been sanctioned by the Financial Industry Regulatory Authority (“FINRA”) based upon findings that the firm failed to supervise its non-traditional exchange traded fund transactions to ensure that they were properly reviewed for suitability. Letter of Acceptance, Waiver and Consent No. 2016052300602 (Mar. 7, […]

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Capital Securities Sued For Fraud In Connection with Sale of Unsuitable Securities

March 15, 2019  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Richard Thomas Ragold of Florham Park New Jersey a stockbroker currently registered with Capital Securities Management Inc. is the subject of a customer initiated investment related arbitration claim in which the customer requested $500,000.00 in damages based upon allegations that the customer was placed into unsuitable investments including (1) unit investment trusts (2) real estate […]

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Global Arena Broker Finally Barred For Failure To Pay Award

Jonathan Michael Sheklow of New York New York a stockbroker formerly registered with Global Arena Capital Corp has been suspended on May 23, 2016 from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he failed to pay a $151,373.17 award to a customer after a […]

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Investor Sues LPL Financial For Defective Investment Advice

March 15, 2019  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Vincent Jerome Camarda of Staten Island New York a stockbroker formerly registered with LPL Financial LLC has been named in an investment related arbitration claim where the customer requested $350,000.00 in damages based upon allegations that the customer was inappropriately steered towards purchasing a variable annuity while Camarda was employed with LPL Financial. Financial Industry […]

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FINRA Fines TriPoint For Failure To Supervise Restricted Stock Sales

March 15, 2019  |   Posted by :   |   Stockbroker Fraud News, Unregistered Securities   |   0 Comments

TriPoint Global Equities a brokerage firm headquartered in New York, New York, and Andrew Kramer (head of trading at TriPoint) have been sanctioned by Financial Industry Regulatory Authority (FINRA) according to an Order Accepting Offer of Settlement containing findings that the firm failed to supervise its securities transactions with a view towards complying with Securities […]

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Merrill Lynch Accused Of Defective Investment Recommendations

Armand Pierre Bryant of El Cajon California a stockbroker formerly registered with Merrill Lynch Pierce Fenner Smith incorporated is the subject of a customer initiated investment related complaint on January 10, 2019 in which the customer sought unspecified damages supported by accusations that Bryant gave the customer inappropriate advice with regard to fixed annuities purchased […]

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UBS Broker Suspended For Unauthorized Trading

March 15, 2019  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Richard D. Niemann of Sugar Land Texas a stockbroker currently registered with UBS Financial Services Inc. has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he made unauthorized trades in customer accounts. Letter of Acceptance Waiver and Consent No. […]

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