Excessive trading

Archive | Excessive trading

Joseph Stone Stockbroker Sanctioned By Regulator

October 05, 2017  |   Posted by :   |   Excessive trading, Stockbroker Fraud News   |   0 Comments

David Gene Menashe of Mineola, New York, a stockbroker formerly registered with Joseph Stone Capital, L.L.C., is the subject of an Order issued by the State of Montana Commissioner of Securities & Insurance obligating $15,000.00 in restitution to a customer based on allegations that Menashe effected unauthorized trades in the customer’s account, and effected trades on […]

Read More »

Customer Sues H Beck For Excessive Fees

September 22, 2017  |   Posted by :   |   Excessive trading, Over Concentration   |   0 Comments

Dan Edward Droeg, of Mesa, Arizona, a stockbroker currently registered with H. Beck, Inc., is the subject of an investment related complaint filed by a customer on November 18, 2016, where the customer sought $250,067.09 in damages supported by allegations that Droeg charged the customer excessive fees, misstated the value of the customer’s securities holdings, […]

Read More »

Regulator Suspends Morgan Stanley Stockbroker

September 15, 2017  |   Posted by :   |   Excessive trading   |   0 Comments

Lewis H. Robinson, of Aventura, Florida, a stockbroker formerly registered with Morgan Stanley, 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 attempted to settle a customer’s dispute away from his firm pertaining to accusations against him of […]

Read More »

Lampert Capital Markets Sued Unsuitable Investments

July 29, 2017  |   Posted by :   |   Churning, Excessive trading   |   0 Comments

Thomas Daniel Sullivan, of New York, New York, a stockbroker formerly registered with Lampert Capital Markets Inc., is the subject of a customer initiated investment related arbitration claim on June 16, 2017, in which the customer requested $11,069.00 in damages based upon allegations that Sullivan effected equities transactions on an excessive and unsuitable basis. Financial […]

Read More »

Voya Financial Advisors Sued For Churning

July 03, 2017  |   Posted by :   |   Churning, Excessive trading, FINRA Securities Arbitration   |   0 Comments

Rodger James Burskey, of Commerce Township, Michigan, a former stockbroker associated with Voya Financial Advisors, Inc., has been named in a customer initiated investment related arbitration claim, which settled on May 25, 2017, for $19,700.00 in damages based upon allegations that Burskey effected equities transactions in the customer’s account despite the transactions not having been […]

Read More »

International Assets Advisory Sued For Churning

June 19, 2017  |   Posted by :   |   Churning, Excessive trading, Stockbroker Fraud News   |   0 Comments

Gregory William Melendez, of Melville, New York, a stockbroker formerly registered with International Assets Advisory, has been named in a customer initiated investment related arbitration claim on February 16, 2017, in which the customer requested $41,376.00 in damages based upon allegations that he effected unsuitable and unauthorized over-the-counter equity transactions in the customer’s account, and […]

Read More »

Columbus Advisory Group Stockbroker Sanctioned

Harvey Britton Vaughn Jr., of Austin, Texas, a stockbroker formerly registered with Columbus Advisory Group, Ltd., has been sanctioned by Financial Industry Regulatory Authority (FINRA) via the revocation of his securities licensure based upon allegations that Vaughn failed to pay a $10,000.00 fine assessed to him by FINRA for having failed to make required disclosures; […]

Read More »

Meyers Associates Stockbroker Excessive Trading

June 13, 2017  |   Posted by :   |   Churning, Excessive trading, Stockbroker Fraud News   |   0 Comments

William David Nelson, of New York, New York, a stockbroker formerly registered with Meyers Associates, L.P., has been fined $5,000.00 by the Commissioner of Securities and Insurance, Montana State Auditor, pursuant to a Consent Agreement and Final Order containing findings that Nelson traded excessively in the accounts of three residents of Montana. In the Matter […]

Read More »

Aegis Capital Sued By Customer In Arbitration

June 13, 2017  |   Posted by :   |   Churning, Excessive trading, Stockbroker Fraud News   |   0 Comments

Kishan Parikh, of New York, New York, a stockbroker currently registered with Aegis Capital Corp., has been named in a customer initiated investment related arbitration claim on May 11, 2017, in which the customer requested $350,000.00 in damages based upon allegations that Parikh made unsuitable investment recommendations to the customer and effected trades in the […]

Read More »

McClintock Former Employer Named in Securities Arbitration

Caeron Arlington McClintock, of New York, New York, a broker formerly registered with EJ Sterling, has been named in a customer initiated investment related arbitration claim on November 22, 2016, in which the customer has requested $135,593.00 in damages based upon allegations that McClintock breached his fiduciary and contractual duties to the customer, churned the […]

Read More »

Du Pasquier Stockbroker Charged With Fraud

November 30, 2016  |   Posted by :   |   Excessive trading, Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

James Larkin Powers, of Atlanta, Georgia, a stockbroker formerly registered with du Pasquier & Co., Inc., has been charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement in a Complaint alleging, inter alia, that Powers converted customer funds. Department of Enforcement v. Powers, No. 2014041985401 (Nov. 15, 2016). According to the Complaint, Power was […]

Read More »

Andrew Garrett Named In Customer Churning Claim

Wayne M. Raymond, of New York, New York, a former stockbroker with Andrew Garrett Inc., has been subject to a customer initiated investment related arbitration claim on February 12, 2015, which was settled for $8,600.00 in damages based upon the customer’s allegations that Raymond effected excessive and unauthorized trades in the customer’s investment account. FINRA […]

Read More »

Regulators Sanction Caldwell International Broker for Unsuitable Recommendations

October 15, 2016  |   Posted by :   |   Boilerroom, Excessive trading, Stockbroker Fraud News   |   0 Comments

Lucas Lichtman, of Englewood Cliffs, New Jersey, a stockbroker for Caldwell International Securities Group, was fined $7,500.00 and suspended for nine months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity per an Order Accepting Offer of Settlement containing findings that Lichtman engaged in unsuitable investment recommendations. Department of Enforcement v. […]

Read More »

Customers Sue Dawson James Securities Stockbroker For $1 Million Fraud

September 28, 2016  |   Posted by :   |   Churning, Excessive trading, Suitability   |   0 Comments

Sean W. Mollard, of Boca Raton, Florida, a stockbroker for Dawson James Securities, Inc., became subject to a pending customer dispute from March 31, 2016, in which a customer requested $1,000,000.00 in damages after alleging that Mollard made material misrepresentations regarding investments, charged excessive commissions to the customer, engaged in excessive trading, failed to abide […]

Read More »

Customers Sue Newport Coast Securities Stockbroker For Unsuitability

September 17, 2016  |   Posted by :   |   Excessive trading, Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Donald A. Bartelt, of Cave Creek, Arizona, is currently subject to a pending customer dispute from May 28, 2013, in which the customer requested $113,000.00 in damages in connection with allegations against Bartelt of engaging in misconduct over several years in the customer’s investment account. Public Disclosure records reveal that Bartelt has previously settled a […]

Read More »

Another Aegis Capital Corp Stockbroker Accused of Churning

September 16, 2016  |   Posted by :   |   Excessive trading, Stockbroker Fraud News   |   0 Comments

Bruce Stark, of Melville, New York, a stockbroker with Aegis Capital Corp., is currently subject to two pending customer disputes. Particularly, on August 21, 2015, a customer requested $534,150.00 in damages after alleging that Stark churned and excessively traded in the customer’s account, engaged in unauthorized trades, and made unsuitable investment recommendations. According to FINRA […]

Read More »

KC Ward Financial Stockbroker Named in Excessive Trading Claim

September 16, 2016  |   Posted by :   |   Excessive trading, Stockbroker Fraud News   |   0 Comments

Joseph F. Comiskey, Jr., of Ronkonkoma, New York, a stockbroker with K.C. Ward Financial, became subject to a pending customer dispute on July 20, 2016, in which the customer requested $450,000.00 in damages after alleging that Comiskey engaged in the speculative trading in the customer’s account. Public disclosure records also reveal that Joseph Comiskey, Jr. […]

Read More »

Another Newport Coast Securities Stockbroker Barred For Fraud

Leonard Allen Goldberg, of Palm Springs, California, a stockbroker with Newport Coast Securities, Inc., was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity per an Order Accepting Offer of Settlement containing findings that Goldberg engaged in unsuitable and fraudulent trading of funds in customer accounts. Department of Enforcement […]

Read More »

Mount Laurel Morgan Stanley Stockbroker Barred

Lance E. Slater, of Mt. Laurel, New Jersey, a stockbroker with Morgan Stanley, was barred from associating with any Financial Industry Regulatory Authority (FINRA) member after consenting to findings that he failed to cooperate in a FINRA investigation into allegations of unauthorized borrowing of funds from a firm customer. Letter of Acceptance, Waiver and Consent, […]

Read More »

Accelerated Capital Group Stockbroker Barred For Fraud

Bahram Mirhashemi, of Irvine, California, a stockbroker registered with Accelerated Capital Group, Inc., was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he had engaged in unauthorized and excessive trading, churning, and unsuitable recommendations. Letter of Acceptance, Waiver and Consent, No. 2012033566201 (Feb. […]

Read More »

Dynasty Capital Partners President Suspended for Failure to Supervise

February 12, 2016  |   Posted by :   |   Excessive trading, Failure To Supervise, Stockbroker Fraud News   |   0 Comments

Steve Hinkle of Englewood, Colorado, was fined $10,000 and suspended for twenty days from association with any Financial Industry Regulatory Authority (FINRA) member in all principal capacities after consenting to findings that he failed to supervise procedures associated with detecting and preventing excessive and unsuitable trading. Letter of Acceptance, Waiver and Consent, No. 2014038969301 (Jan. […]

Read More »

WFG Investments, Inc. Stockbroker Suspended for Unsuitable Trading

Larry Michael Crabtree of Edmond, Oklahoma, a stockbroker with WFG Investments, Inc., was suspended for six-months in all capacities from association with any Financial Industry Regulatory Authority (FINRA) member firm after consenting to findings that Crabtree engaged in unsuitable trading and improperly exercised discretion in the account of a customer; sent inappropriate and unapproved communications […]

Read More »

Craig Scott Capital Principals Charged with Fraud

Craig Scott Capital, LLC, headquartered in Uniondale, New York, along with owners Craig Scott Taddonio and Brent Morgan Porges, were charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement in a Complaint alleging that the firm and its owners had engaged in excessive and unsuitable trading, fraudulent churning, and other supervisory failures. Department of […]

Read More »

Garden State Securities Stockbroker Suspended For Unsuitable Recommendations

Adam R. Tau of New York, New York, a registered representative with Garden State Securities, Inc., was fined $7,500 and suspended from association with any Financial Industry Regulatory Authority (FINRA) member in any and all capacities for two months after consenting to findings that Tau had made unsuitable recommendations and engaged in discretionary trading. Letter […]

Read More »

J.P. Turner & Company Fined for Overcharging Customers

J.P. Turner & Company, based in Atlanta, Goeorgia, was censured and fined $140,000 by Financial Industry Regulatory Authority (FINRA) after consenting to findings that the firm had not charged customers prices that were fair and reasonable in the purchase/sale of securities. Letter of Acceptance, Waiver and Consent, No. 20130358778 (Nov. 25, 2015). According to the […]

Read More »

Newport Coast Securities Broker Suspended for Churning

Marc A. Arena of Westbury, New York, a stockbroker with Newport Coast Securities, Inc., was suspended for twenty-three months from associating with any Financial Industry Regulatory Authority (FINRA) member firm in a principal capacity, while being suspended for ten business days from association with any FINRA member firm in any capacity per an Order Accepting […]

Read More »

Global Arena Capital Principal Barred for Supervisory Failures

Kevin Edward Hagan, a trading and operations principal with Global Arena Capital Corp, was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any principal capacity and fined $15,000 in connection with findings that Hagan had failed to appropriately discharge his responsibilities as supervisor for his branch, including failures as designated […]

Read More »

WFG Principal Barred for Failure to Supervise

Willard L. Golightly, a principal with WFG Investments, Inc., was permanently barred from association with a Financial Industry Regulatory Authority (FINRA) member firm in all principal capacities and barred from associating with a FINRA firm in all capacities for three months after consenting to findings that Golightly had failed to properly supervise sales practices of […]

Read More »

Dynasty Capital PartnersPrincipal Barred for Obstructing Investigation

Raymond Clark, a principal with Dynasty Capital Partners, Inc., was barred from associating with any Financial Industry Regulatory Authority (FINRA) member in all capacities in accordance with an Order Accepting Offer of Settlement containing findings that Clark failed to provide on-the-record testimony in connection with an investigation into allegations that he had executed unauthorized and […]

Read More »

Cape Securities Fined for Supervisory Failures

Cape Securities, Inc., a FINRA member since 1976 headquartered in McDonough, GA, offers brokerage services via 118 registered reps via its 20 branch offices and 79 non-registered offices. The Firm was censured and fined $125,000 after consenting to FINRA findings that the firm failed to establish and enforce adequate supervisory systems to detect/prevent fraudulent wires […]

Read More »

New York Securities Principal Barred for Excessive Trading

August 17, 2015  |   Posted by :   |   Churning, Excessive trading, Stockbroker Fraud News   |   0 Comments

Rasheed Adams of New York, a prior representative for Caldwell International Securities, was barred from association with any FINRA-registered firm in all capacities after failing to provide FINRA with requested documentation in connection with allegations that Adams engaged in excessive and unsuitable churning and trading in customer accounts, while also failing to disclose a total […]

Read More »