FINRA Securities Arbitration

Archive | FINRA Securities Arbitration

LPL Financial Stockbroker Suspended By FINRA

November 21, 2017  |   Posted by :   |   FINRA Securities Arbitration   |   0 Comments

Jason N. Anderson of Beaumont, Texas, a stockbroker formerly registered with LPL Financial LLC, has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he failed to fulfill his financial obligations in regard to an arbitration award or settlement agreement. Case No. 2017055025701 […]

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Customer Sues Raymond James For Securities Fraud

November 21, 2017  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Leon Paul Rehak, of Fort Lauderdale, Florida, a stockbroker formerly registered with Raymond James & Associates, Inc., is the subject of a customer initiated investment related arbitration claim on October 12, 2017, in which the customer requested $499,000.00 in damages founded on allegations that from May 3, 2011 to September 29, 2017, the customer’s account […]

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Regulator Suspends Cambridge Stockbroker For Suitability

November 20, 2017  |   Posted by :   |   Business Develop Companies, FINRA Securities Arbitration   |   0 Comments

Brad C. Lawing of Springfield, Missouri, a stockbroker formerly registered with Cambridge Investment Research, Inc., has been fined $10,000.00 and suspended for five months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity by consenting to findings that Lawing, inter alia, effected unsuitable business development company transactions in customers’ investment accounts. Letter […]

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Network 1 Financial Broker Loses FINRA Arbitration Case

November 20, 2017  |   Posted by :   |   FINRA Securities Arbitration   |   0 Comments

Shane Joseph Melito, of Syosset, New York, a stockbroker currently registered with Network 1 Financial Securities Inc., is the subject of a customer initiated investment related arbitration claim, in which the customer was awarded $51,549.00 in damages based on Melito having been found liable for effecting unsuitable transactions in the customer’s account and for breaching […]

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Customer Sues Cetera Advisors For Securities Fraud

November 07, 2017  |   Posted by :   |   FINRA Securities Arbitration   |   0 Comments

Abraham Heimann, of Alpharetta, Georgia, a stockbroker formerly registered with Cetera Advisors LLC, has been identified in a customer initiated investment related arbitration claim, where the customer sought $364,000.00 in damages based upon allegations of unauthorized trading, misrepresentation, breach of contract, breach of fiduciary duty, and fraud in regard to energy sector investments, including oil […]

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FSC Stockbroker Charged With Securities Fraud

November 07, 2017  |   Posted by :   |   FINRA Securities Arbitration   |   0 Comments

Frederick Wesley Roehm, of Schaumburg, Illinois, a stockbroker formerly registered with FSC Securities Corporation, has been fined $5,000.00 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 Roehm, inter alia, failed to disclose that a customer sued him […]

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Customer Sues Legend Securities For Churning

November 07, 2017  |   Posted by :   |   FINRA Securities Arbitration   |   0 Comments

Jason Harris Klabal, of New York, New York, a stockbroker formerly registered with Legend Securities, Inc., has been named in a customer initiated investment related arbitration claim on December 8, 2016, in which the customer requested $200,000.00 in damages based upon allegations of breach of contract, negligence, breach of fiduciary duty, churning and misrepresentation regarding […]

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Merrill Lynch Sued By Customer For Misrepresentation

November 07, 2017  |   Posted by :   |   FINRA Securities Arbitration   |   0 Comments

Phil Scott (also known as Walter Philip Schlaepfer), of Bellevue, Washington, a stockbroker formerly registered with Merrill Lynch, Pierce, Fenner & Smith Incorporated, has been named in a customer initiated investment related arbitration claim, which settled for $125,000.00 in damages supported by allegations of misrepresentation and unsuitable investment recommendations having been made in regard to […]

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Regulator Bars National Securities Stockbroker

November 01, 2017  |   Posted by :   |   FINRA Securities Arbitration   |   0 Comments

Zachary T. Bader, of Melville, New York, a stockbroker formerly registered with National Securities Corporation who is permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in all capacities, has been sanctioned by FINRA on June 21, 2017, based upon allegations of his failure to be in compliance with a FINRA Arbitration […]

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Customer Sues Concorde For Unauthorized Trading

November 01, 2017  |   Posted by :   |   FINRA Securities Arbitration   |   0 Comments

Richard Grant Cody, of Spring Lake, New Jersey, a stockbroker formerly employed with Concorde Investment Services, LLC, has been named in a customer initiated investment related arbitration claim on September 13, 2017, in which the customer alleged that Cody effected floating rate note trades in the customer’s portfolio without the customer’s consent between 2013 and […]

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Stockbroker Barred By FINRA In Investigation

November 01, 2017  |   Posted by :   |   FINRA Securities Arbitration   |   0 Comments

Rick Douglas Konecny, of Chicago, Illinois, a stockbroker formerly registered with National Securities Corporation, has been suspended indefinitely from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations of his failure to provide FINRA with information about his business activities. FINRA Notice of Suspension, No. 2016049543601 (Aug. 18, 2017). […]

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Customer Sues Raymond James For Securities Fraud

November 01, 2017  |   Posted by :   |   Breach of Fiduciary Duty, FINRA Securities Arbitration   |   0 Comments

Scott Allen Sibley of Fort Lauderdale, Florida, a stockbroker formerly employed with Raymond James & Associates, is identified in a customer initiated investment related arbitration claim, wherein the customer sought $250,000.00 in damages based upon allegations of breach of contract, breach of fiduciary duty, negligence, fraud, and the violation of Florida’ Securities and Investor Protection Act […]

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New Jersey Revokes Marlton Stockbroker’s Registration

November 01, 2017  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Theft   |   0 Comments

Leonard V. Fox, Jr., of Marlton, New Jersey, a stockbroker formerly associated with FSC Securities Corporation, is the subject of a Summary Revocation Order issued by the State of New Jersey Bureau of Securities, which has revoked Fox’s investment advisor representative registration and securities agent registration supported by findings that he was expelled by Financial […]

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Blackbook Capital Stockbroker Barred For Obstruction

October 16, 2017  |   Posted by :   |   FINRA Securities Arbitration   |   0 Comments

Darnell Anthony Deans, of New York, New York, a stockbroker formerly registered with Blackbook Capital, LLC, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based on findings that he neglected to respond to FINRA’s request for information about Deans’ business activities. FINRA Case No. 2015044374501 (July 17, […]

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PTI Securities Sued For Account Management

October 05, 2017  |   Posted by :   |   FINRA Securities Arbitration   |   0 Comments

Thomas Patrick Haugh, of Chicago, Illinois, a stockbroker, commodity futures broker and securities principal currently registered with PTI Securities & Futures L.P., is the subject of a customer initiated investment related arbitration claim, in which the customer sought $2,500,000.00 in damages supported by allegations that the customer’s investment account failed to be managed properly. Case […]

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Customer Wins $1.8 Award Against Northeast Securities

October 05, 2017  |   Posted by :   |   FINRA Securities Arbitration   |   0 Comments

Jonathan Michael Zucker, of Mitchelfield, New York, a stockbroker currently registered with Northeast Securities, Inc., is the subject of a customer initiated investment related arbitration claim, where the customer was awarded $1,758,000.00 in compensatory damages supported by allegations that the customer’s account was handled with negligence; the customer’s investments were churned and induced by Zucker’s […]

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Punitive Damges Award Against Wedbush Securities Fraud

October 05, 2017  |   Posted by :   |   Elder Abuse, FINRA Securities Arbitration   |   0 Comments

Mark Fred Augusta, of Solana Beach, California, a stockbroker formerly registered with Wedbush Securities Inc., is the subject of a customer initiated investment related arbitration claim, in which the customer was awarded 250,000.00 in compensatory damages, $1,080,000.00 in punitive damages, and $110,000.00 in disgorged commissions on July 13, 2017, supported by allegations against Augusta and […]

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Customer Sues Newbridge Securities For Suitability

October 05, 2017  |   Posted by :   |   FINRA Securities Arbitration, Suitability   |   0 Comments

Gaetano Magarelli, a stockbroker currently registered with Newbridge Securities Corporation, is the subject of a customer initiated investment related arbitration claim on August 31, 2017, in which the customer requested $266,355.00 in damages based upon allegations that Magarelli placed unsuitable equity transactions in the customer’s account, causing the customer to sustain investment losses within her […]

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Financial West Group Sued For Failure To Supervise

August 31, 2017  |   Posted by :   |   Failure To Supervise, FINRA Securities Arbitration   |   0 Comments

Mitchell Steven Morrison, of Westlake Village, California, a principal registered with Financial West Group, is the subject of a customer initiated investment related arbitration claim on June 19, 2017, in which the customer requested $1,937,365.00 in damages based upon allegations that Morrison neglected to supervise the activities of a subordinate stockbroker that made misrepresentations to […]

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Customer Sues Morgan Stanley For Investment Losses

August 26, 2017  |   Posted by :   |   FINRA Securities Arbitration   |   0 Comments

Donald Allen Kartoon, of Beverly Hills, California, a stockbroker formerly registered with Morgan Stanley, is the subject of a customer initiated investment related arbitration claim, where the customer was awarded $4,000.00 in damages on April 6, 2017, based upon allegations that Kartoon failed to abide by the customer’s instructions to sell the customer’s position in […]

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UBS Financial Services Sued By Customer For Suitability

August 26, 2017  |   Posted by :   |   FINRA Securities Arbitration   |   0 Comments

Gerard Danzi, of Fort Lauderdale, Florida, a stockbroker currently registered with UBS Financial Services Inc., is the subject of a customer initiated investment related arbitration claim on July 6, 2017, wherein the customer requested $350,000.00 in damages based upon allegations that Danzi made misrepresentations to the customer, over-concentrated the customer’s assets, and sold the customer […]

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Oppenheimer Sued For Unauthorized Trading

James William Forsythe, of New York, New York, a stockbroker formerly registered with Oppenheimer & Co. Inc., is the subject of a customer initiated investment related arbitration claim on December 29, 2016, where the customer requested $2,000,000.00 in damages based upon allegations that from January of 2011 to August of 2016, Forsythe placed unauthorized, excessive […]

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Customer Sues LPL Financial For Misrepresentation

August 17, 2017  |   Posted by :   |   FINRA Securities Arbitration, Forgery   |   0 Comments

Melanie Dawn Garcia, of Winter Haven, Florida, a stockbroker formerly registered with LPL Financial LLC, is the subject of a customer initiated investment related written complaint, which settled on August 10, 2016, for $3,115.92 in damages based upon allegations that made misrepresentations to the customer, effected unsuitable private securities transactions, and was liable for the […]

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Barclays Capital Sued By Customer For Fraud

Mark James Stevenson, of New York, New York, a stockbroker formerly registered with Barclays Capital Inc., is the subject of a customer initiated investment related arbitration claim on June 15, 2017, where the customer requested $3,525,460.00 in damages based upon allegations that Stevenson violated Securities Exchange Act of 1934 Section 10(b), breached his fiduciary duties, […]

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Regulator Bars RBC Capital Markets Stockbroker

August 17, 2017  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Paul Vincent Blum, of West Palm Beach, Florida, a stockbroker formerly registered with RBC Capital Markets, 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 in the course of an investigation into customer complaints. Letter […]

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Customer Sues WFG Investments For Misrepresentation

August 17, 2017  |   Posted by :   |   FINRA Securities Arbitration, Municipal Bond Fraud   |   0 Comments

James Kevin Pheney, of Castle Rock, Colorado, a stockbroker formerly registered with WFG Investments Inc., is the subject of a customer initiated investment related written complaint on December 29, 2016, in which the customer requested $240,000.00 in damages based upon allegations that Pheney made misrepresentations to the customer concerning municipal debt investments effected in the […]

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Another Buckman Buckman Reid Stockbroker Suspended

August 17, 2017  |   Posted by :   |   Boilerroom, FINRA Securities Arbitration   |   0 Comments

Dwarka Persaud, of Little Silver, New Jersey, has been fined and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he violated a heightened supervision agreement imposed by New Jersey Bureau of Securities by effecting, inter alia, unauthorized trades in customer accounts. Letter of […]

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Laidlaw Sued By Customer For Misconduct

August 17, 2017  |   Posted by :   |   Boilerroom, FINRA Securities Arbitration   |   0 Comments

George Lance Calhoun, of New York, New York, a stockbroker registered with Laidlaw & Company (UK) Ltd., is the subject of a customer initiated investment related arbitration claim on April 12, 2017, where the customer requested $114,199.00 in damages based upon allegations that Calhoun effected unsuitable and unauthorized equity trades in the customer’s account. Financial […]

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Customer Sues ProEquities For Suitability

August 15, 2017  |   Posted by :   |   FINRA Securities Arbitration   |   0 Comments

Daniel O’Hare Neville, of Crestview Hills, Kentucky, a stockbroker formerly registered with Daniel O’Hare Neville, is the subject of a customer initiated investment related written complaint on May 5, 2017, in which the customer sought $8,000.00 in damages based upon allegations that Neville made unsuitable investment recommendations to the customer regarding mutual funds, and failed […]

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Gallick Sued For Unauthorized Trading

August 15, 2017  |   Posted by :   |   FINRA Securities Arbitration   |   0 Comments

Leonard Vincent Gallick Jr., of Rosalyn Heights, New York, a stockbroker formerly registered with GunnAllen Financial, Inc., is the subject of a customer initiated investment related arbitration claim, which settled on March 31, 2016, for $350,000.00 in damages based upon allegations that Gallick effected excessive over-the-counter equities trades in the customer’s account, and accrued commissions […]

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LPL Financial Roger Zullo Over and Out

August 15, 2017  |   Posted by :   |   Annuity Schemes, FINRA Securities Arbitration   |   0 Comments

Roger Salvatore Zullo, of Boston, Massachusetts, 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 upon consenting to findings that he obstructed a FINRA investigation into allegations that Zullo, inter alia, defrauded customers and made unsuitable investment recommendations. Letter […]

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Customer Sues Rockwell Global Capital

August 15, 2017  |   Posted by :   |   FINRA Securities Arbitration, Suitability   |   0 Comments

David John Lomedico, of Melville, New York, a stockbroker formerly registered with Rockwell Global Capital LLC, has been fined $5,000.00 and suspended for four months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he made unsuitable investment recommendations to the customers. Letter of Acceptance, […]

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Customer Sues UBS For Unauthorized Trading

August 02, 2017  |   Posted by :   |   Bond Fraud, FINRA Securities Arbitration   |   0 Comments

Thomas Einar Gunnersen, of Greenwood Village, Colorado, a stockbroker formerly registered with UBS Financial Services, Inc., is the subject of a customer initiated investment related arbitration claim on August 19, 2016, in which the customer requested $31,873.00 in damages based upon allegations that Gunnersen was responsible for the customer’s losses on high yield bond transactions […]

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Securian Financial Services Sued For Fraud

August 02, 2017  |   Posted by :   |   FINRA Securities Arbitration   |   0 Comments

James Patrick McCloskey, of Newport Beach, California, a stockbroker currently registered with Securian Financial Services, Inc., is the subject of a customer initiated investment related civil action on May 4, 2017, in which the customer requested $397,237.00 in damages based upon allegations that McCloskey made misrepresentations to the customer concerning insurance products that the customer […]

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Regulator Suspends LPL Financial LLC Stockbroker

August 02, 2017  |   Posted by :   |   FINRA Securities Arbitration   |   0 Comments

Michael Dennis Hampton, of Orangevale, California, a stockbroker formerly registered with LPL Financial LLC, 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 failed to provide FINRA staff with information about whether he had complied with a customer […]

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Customer Sues Morgan Stanley For Unauthorized Trading

August 02, 2017  |   Posted by :   |   FINRA Securities Arbitration, Unauthorized Trading   |   0 Comments

Alex Muscati III, of Palm Harbor, Florida, a stockbroker currently registered with Morgan Stanley, is the subject of a customer initiated investment related arbitration claim on May 4, 2017, in which the customer requested $123,000.00 in damages based upon allegations that Muscati effected unauthorized structured product transactions in the customer’s account. Financial Industry Regulatory Authority […]

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Wells Fargo Advisors Sued For Suitability

August 02, 2017  |   Posted by :   |   FINRA Securities Arbitration, Unit Investment Trusts   |   0 Comments

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 […]

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Regulator Suspends Spencer-Winston Stockbroker

August 02, 2017  |   Posted by :   |   FINRA Securities Arbitration   |   0 Comments

James Benjamin Fellus, of New York, New York, a stockbroker formerly registered with Spencer-Winston Securities Corporation, has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that he failed to communicate with FINRA about his compliance with a customer initiated investment related settlement arrangement or arbitration […]

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National Securities Sued For Sale of Unsuitable Investments

August 02, 2017  |   Posted by :   |   FINRA Securities Arbitration, Suitability   |   0 Comments

Jack Frank Bruscianelli, of Saint Louis, Missouri, a stockbroker currently registered with National Securities Corporation, is the subject of a customer initiated investment related arbitration claim on April 18, 2017, in which the customer requested $300,000.00 in damages based upon allegations that Bruscianelli breached his fiduciary duties and made unsuitable investment recommendations to the customer […]

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Customer Files ON Equity Sales Suitability Arbitration

July 29, 2017  |   Posted by :   |   Annuity Schemes, FINRA Securities Arbitration   |   0 Comments

Richard Michael Wesselt, of Collegeville, Pennsylvania, a stockbroker currently registered with The O.N. Equity Sales Company, is the subject of a customer initiated investment related written claim, which settled on October 24, 2016, for $24,257.14 in damages based upon allegations that he effected unsuitable transactions in the customer’s account. The customer additionally alleged that Wesselt […]

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Morgan Stanley Sued For Negligence

July 29, 2017  |   Posted by :   |   FINRA Securities Arbitration   |   0 Comments

Thomas Alan Meier, of Miami, Florida, a stockbroker formerly registered with Morgan Stanley, is the subject of a customer initiated investment related complaint on May 2, 2016, which settled for $497,245.90 in damages based upon allegations that between 2013 and 2016, he made misrepresentations concerning the terms and conditions of the customer’s liquidity within the […]

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Morgan Stanley Smith Barney Sued For Failure To Supervise

July 29, 2017  |   Posted by :   |   Failure To Supervise, FINRA Securities Arbitration   |   0 Comments

Sumitro Pal, of Bethesda, Maryland, a stockbroker formerly registered with Morgan Stanley Smith Barney, is the subject of a customer initiated investment related written complaint on May 1, 2017, in which the customer requested $115,156.00 in damages based upon allegations that the firm failed to supervise Pal’s faulty corporate debt transactions placed in the customer’s […]

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Wells Fargo Advisors Sued For Suitability

July 29, 2017  |   Posted by :   |   FINRA Securities Arbitration   |   0 Comments

Regan Allen Rohl, of Fargo, North Dakota, a stockbroker currently registered with Wells Fargo Advisors Financial Network, LLC, is the subject of a customer initiated investment related arbitration claim on June 19, 2017, in which the customer requested $1,500,000.00 in damages based upon allegations that Rohl, from April of 2011 to December of 2016, made […]

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Raymond James Sued For Breach Of Contract

July 29, 2017  |   Posted by :   |   FINRA Securities Arbitration   |   0 Comments

Joseph Erik Zenker, of Nashville, Tennessee, a stockbroker currently registered with Raymond James & Associates, Inc., is the subject of a customer initiated investment related arbitration claim on June 1, 2017, based upon allegations including breach of contract, negligence, breach of fiduciary duty, violation of the blue sky laws of the State of Louisiana, as […]

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Andrew Garret Broker Sued For Suitability

July 29, 2017  |   Posted by :   |   FINRA Securities Arbitration   |   0 Comments

John Joseph Conroy, of New York, New York, a stockbroker currently registered with Andrew Garret Inc., was identified in a customer initiated investment related written complaint on May 1, 2017, in which the customer requested $99,734.82 in damages based upon allegations that Conroy effected unsuitable over-the-counter equities transactions in the customer’s account. Financial Industry Regulatory […]

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Wells Fargo Sued For Unauthorized Trading

July 28, 2017  |   Posted by :   |   FINRA Securities Arbitration, Over Concentration   |   0 Comments

Jay Windsor Pickett III, of Atlanta, Georgia, is the subject of a customer initiated investment related arbitration claim on April 28, 2017, in which the customer requested an estimated $1,500,000.00 in damages based upon allegations that in 2016, Pickett over-concentrated the customer’s assets in sector specific stocks. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals […]

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AXA Advisors Complaint Alleges Unsuitability

July 05, 2017  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Paul Anthony Snow, of Grand Rapids, Michigan, a registered representative associated with AXA Advisors, LLC, has been named in a customer initiated investment related written complaint on April 26, 2017, based upon allegations that he made unsuitable investment recommendations to the customer concerning an individual retirement account, and omitted information from the customer about fees […]

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Arbitration Claim Filed Against America Northcoast Securities

Richard Anthony Barone, of Cleveland, Ohio, a stockbroker currently registered with America Northcoast Securities, Inc., has been named in a customer initiated investment related arbitration claim on May 17, 2017, in which the customer requested $250,000.00 in damages based upon allegations against Barone including failure to supervise, unauthorized trading, unsuitability, breach of fiduciary duty and […]

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LPL Financial Sued For Unsuitable Recommendations

Nisha Sandeep Varma, of San Diego, California, a stockbroker formerly registered with LPL Financial LLC, has been named in a customer initiated investment related civil action on April 24, 2017, in which the customer sought $2,708,644.00 in damages based upon allegations that Varma made unsuitable investment recommendations to the customer regarding insurance products. Financial Industry […]

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Customer Sues Obsidian Financial Group for Supervisory Failures

Philip A. Dina, of Woodbury, New York, a stockbroker formerly registered with Obsidian Financial Group, LLC, has been named in a customer initiated investment related arbitration claim on April 24, 2017, where the customer requested $50,000.00 in damages based upon allegations that he failed to supervise one of the firm’s registered representatives who placed faulty […]

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Kalos Capital Sued In Arbitration For Unsuitability

Curtis Leroy Whipple, of Plymouth, Michigan, a stockbroker currently registered with Kalos Capital, Inc., has been named in a customer initiated investment related arbitration claim, which settled on March 3, 2017, for $14,999.00 in damages founded upon allegations that he breached his contractual and fiduciary obligations to the customer, and negligently handled the customer’s investment […]

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Girard Securities Customer Alleges Fraud

Cary Edward Scheer, of Southlake, Texas, a stockbroker formerly registered with Girard Securities, Inc., has been named in a customer initiated investment related arbitration claim on April 24, 2017, in which the customer requested $150,000.00 in damages based upon allegations that Scheer breached his contractual and fiduciary duties to the customer, made investment misrepresentations and […]

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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 […]

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MML Investor Services Action Alleges Unauthorized Trading

Karl Robert Dierman, of Columbus, Nebraska, a stockbroker formerly registered with MML Investors Services, LLC, has been named in a customer initiated investment related civil action, in which the customer requested $39,000.00 in damages based upon allegations that Dierman misappropriated the customer’s funds via forged requests for loans, and effected unauthorized transactions in the customer’s […]

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New York Broker Barred By FINRA For Defrauding Elderly Investor

Craig David Dima of Ronkonkoma, New York settled his regulatory enforcement action with FINRA by agreeing to a permanent bar from the securities industry. The bar is based on Dima’s conduct relating to an account for a 73 year-old retiree which included unauthorized trades, misrepresentations and excessive fees and commissions charged to the elderly client. […]

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Ameriprise Financial Services Broker Sanctioned

Geraldine Gordon, of Lexington, Kentucky, a stockbroker currently registered with Ameriprise Financial Services, has been fined $7,500.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that she made unsuitable investment recommendations to a firm customer. Letter of Acceptance, Waiver and Consent, No. 2016049353501 […]

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Bolton Global Capital Stockbroker Barred In Investigation

Paul Wescoe Smith, of Wayne, Pennsylvania, a stockbroker formerly registered with Bolton Global Capital, 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 allegations that he sold away from his firm. Letter of Acceptance, Waiver and […]

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LPL Financial Sued In Arbitration For Unsuitability

Michael Alexander Hanson, of La Mirada, California, a stockbroker formerly registered with LPL Financial LLC, has been named in a customer initiated investment related arbitration claim on May 5, 2017, in which the customer requested $520,000.00 in damages based upon allegations that he effected unsuitable transactions in the customer’s account concerning inverse levered exchange traded […]

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Ameritas Sued By Customer For Misrepresentation

Robert Michael Gianchiglia, of Worcester, Massachusetts, a stockbroker formerly registered with Ameritas Investment Corp., has been named in a customer initiated investment related arbitration claim on March 28, 2017, wherein the customer requested $225,000.00 in damages based upon allegations that Gianchiglia effected unauthorized trades in the customer’s account, made misrepresentations to the customer, breached his […]

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Raymond James Sued In Arbitration For Fraud

Gabriel Yanez Jr., of Newport Beach, California, a stockbroker formerly registered with Raymond James And Associates, Inc., has been named in a customer initiated investment related arbitration claim on April 12, 2017, in which the customer requested $700,000.00 in damages based upon allegations that Yanez engaged in deceptive trade practices, negligently handled the customer’s investment […]

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JP Turner Chief Compliance Officer Sued In Arbitration

June 13, 2017  |   Posted by :   |   Failure To Supervise, FINRA Securities Arbitration   |   0 Comments

Edward Barnett Woll, of Atlanta, Georgia, a chief compliance officer of J.P. Turner & Company, LLC, has been named in a customer initiated investment related arbitration claim on April 18, 2017, in which the customer requested $69,768.00 in damages based upon allegations that he failed to supervise a stockbroker, Dennis Salerno, who effected trades in […]

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Independent Financial Group Stockbroker Barred

Calvin Edward Moores, of Brea, California, a stockbroker formerly registered with Independent Financial Group, LLC, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that he failed to correspond with FINRA staff in reference to information about Moores’ business activities. Letter No. 2015047356601 (Mar. 7, […]

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Dakota Securities International Stockbroker Suspended

June 13, 2017  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Christopher Russell McNamee, of Miami, Florida, a stockbroker formerly registered with Dakota Securities International, Inc., has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that he failed to provide a response to FINRA staff’s request for information relating to McNamee’s business activities. Letter No. 2013035303302 […]

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AXA Advisors Sued By Customer For Suitability

June 13, 2017  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Rael Linder, of New York, New York, a stockbroker formerly registered with AXA Advisors, LLC, has been named in a customer initiated investment related written complaint on March 17, 2017, based upon allegations that he effected a life insurance policy that was not suitable for the customer. This is not the first time that Linder […]

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MetLife Securities Named In FINRA Arbitration

June 13, 2017  |   Posted by :   |   Annuity Schemes, FINRA Securities Arbitration   |   0 Comments

Connie Jo Binz, of Bryant, Arkansas, a stockbroker formerly registered with MSI Financial Services, Inc., has been named in a customer initiated investment related arbitration claim on June 17, 2016, in which the customer requested approximately $5,000.00 in damages based upon allegations that Binz misstated information to the customer in the course of effecting variable […]

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Edward Jones Sued By Customer For Poor Advice

June 13, 2017  |   Posted by :   |   FINRA Securities Arbitration   |   0 Comments

Matthew Evan Schwartz, of Syracuse, Indiana, a stockbroker currently registered with Edward Jones, has been named in a customer initiated investment related written complaint on April 17, 2017, in which the customer requested $5,000.00 in damages based upon allegations that he poorly advised a customer in reference to equity transactions effected in the customer’s account, […]

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Securities America Sued For Negligence

June 13, 2017  |   Posted by :   |   Bond Fraud, FINRA Securities Arbitration   |   0 Comments

Patricia Mary Loris, of Crystal Lake, Illinois, a stockbroker currently registered with Securities America, Inc., has been named in a customer initiated investment related arbitration claim on April 17, 2017, in which the customer requested $200,000.00 in damages based upon allegations that Loris breached her fiduciary and contractual duties to the customer, negligently handled the […]

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Oppenheimer Sued For Unsuitability

June 13, 2017  |   Posted by :   |   FINRA Securities Arbitration   |   0 Comments

Eliot Charles Cohen, of Los Angeles, California, a stockbroker currently registered with Oppenheimer & Co. Inc., has been named in a customer initiated investment related written complaint on April 17, 2017, in which the customer requested damages estimated to exceed $5,000.00 based upon allegations that Cohen, over an eighteen-month period, effected master limited partnership and […]

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Brookstone Securities Sued For Churning

Elvin J. Lopez, of New York, New York, a stockbroker formerly registered with Brookstone Securities, Inc., has been named in a customer initiated investment related arbitration claim, which settled on April 12, 2017, for $31,276.98 in damages based upon allegations that he made misrepresentations to the customer, breached his fiduciary and contractual duties, negligently managed […]

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Newbridge Securities Broker Suspended By Regulator

Steven Michael Wisniewski, of Boca Raton, Florida, a stockbroker formerly registered with Newbridge Securities Corporation, has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that Wisniewski never corresponded with FINRA regarding his compliance with the terms of a customer initiated investment related dispute settlement or […]

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Popular Securities Customer Arbitration Alleging Unsuitability

Joanna Espasas of Miami, Florida, a stockbroker formerly registered with Popular Securities, LLC, has been named in a customer initiated investment related arbitration claim on December 21, 2015, in which the customer requested $1,173,866.00 in damages based upon allegations that Espasas made unsuitable recommendations to the customer concerning corporate debt and closed-end funds. The customer […]

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Investacorp Stockbroker Barred By Regulator

Warren Marc Rockmacher, of Trumbull, Connecticut, a stockbroker formerly registered with Investacorp, Inc., has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that he failed to cooperate in a FINRA investigation by declining to provide FINRA with information requested of him. Case No. 2015044980801 […]

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FINRA Arbitration Claim Filed Against MML Investors Services

Eugen Velea, of Manasquan, New Jersey, a stockbroker formerly registered with MML Investors Services, LLC, has been named in a customer initiated investment related arbitration claim, which settled on August 1, 2016, for $70,000.00 in damages based upon allegations that Velea induced the customer’s mutual fund purchases by making unsuitable investment recommendations. Financial Industry Regulatory […]

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Customer Brings Arbitratoin Against Raymond James For Fraud

Peter Chris Marketos, of Paramus, New Jersey, a stockbroker formerly registered with Raymond James & Associates, Inc., has been named in a customer initiated investment related written complaint on March 2, 2017, in which the customer requested more than $5,000.00 in damages based upon allegations that Marketos, from October of 2014 to February of 2016, […]

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Another VSR Financial Services Customer Sues For Miconduct

James Vernon Regier, of Topeka, Kansas, a stockbroker formerly registered with VSR Financial Services, Inc., has been named in a customer initiated investment related written complaint on July 14, 2016, in which the customer requested $76,642.00 in damages based upon allegations that Regier effected unsuitable transactions in the customer’s account concerning United Development Funding IV. […]

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Customer Brings Claim Against Questar Capital For Misrepresentation

Terry Craig Sandvold, of Saint Louis Park, Minnesota, a stockbroker currently registered with Questar Capital Corporation, has been named in a customer initiated investment related written complaint on February 12, 2016, in which the customer requested more than $5,000.00 in damages based upon allegations that Sandvold made misrepresentations to the customer concerning the step-up figures […]

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Customer Brings Arbitratoin Against Merrill Lynch For Bad Recommendations

Robert Evan Yahney, of Tampa, Florida, a stockbroker currently registered with Merrill Lynch, Pierce, Fenner & Smith Incorporated, has been named in a customer initiated investment related arbitration claim on May 1, 2017, in which the customer requested $1,000,000.00 in damages based upon allegations that Yahney made misrepresentations and unsuitable investment recommendations to the customer […]

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Customer Filed Arbitration Against Money Concepts Capital Corp

May 30, 2017  |   Posted by :   |   FINRA Securities Arbitration, Non-traded REITs   |   0 Comments

Dustin Paul Shafer, of Springfield, Illinois, a stockbroker currently registered with Money Concepts Capital Corp., has been named in a customer initiated investment related written complaint on April 10, 2017, in which the customer requested $75,000.00 in damages based upon allegations that Shafer made poor investment recommendations to the customer about real estate security products, […]

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Aegis Capital Corp Sued For Misrepresentation

James Bradley Schwartz, of Melville, New York, a stockbroker formerly registered with Aegis Capital Corp., has been named in a customer initiated investment related arbitration claim on April 28, 2017, in which the customer requested $269,131.00 in damages based upon allegations that Schwartz, between April of 2014 and May of 2016, breached his fiduciary and […]

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Investor Wins $1 Million FINRA Arbitration Award

Colorado investor, Grace Huitt, has won an arbitration award in excess of $1 million due to misrepresentations made to her by the broker who sold her a variable annuity. Ms. Huitt purchased an ING Landmark variable annuity in 2008. At or before the time of sale, her broker at Wilbanks Securities, Inc., a brokerage firm […]

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Raymond James Named In Customer Arbitration

Melody Vuicich Kump, of Austin, Texas, a stockbroker currently registered with Raymond James & Associates, Inc., has been named in a customer initiated investment related written complaint on April 4, 2017, in which the customer requested $24,134.00 in damages based upon allegations that Kump, between 2013 and 2017, engaged in sales practice violations and effected […]

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WFG Investments Sued By Customers For Fraud

James Neal Turner, of Plano, Texas, a stockbroker formerly registered with WFG Investments, Inc., has been identified in a customer initiated investment related arbitration claim on January 30, 2017, where the customer requested $75,000.00 in damages based upon allegations of misrepresentations made to customers in convertible preferred stock offering documents, and the failure to adequately […]

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Euro Pacific Capital Sued for Excessive Commissions

Matt Ward, of Santa Monica, California, a stockbroker currently registered with Euro Pacific Capital, Inc., has been named in a customer initiated investment related written complaint on January 6, 2017, in which the customer requested $40,000.00 in damages based upon allegations that Ward, between 2015 and 2016, charged the customer with excessive commissions and effected […]

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Customer Arbitrations Filed Against Wells Fargo Clearing Services

John George Marakas III, of Beverly Hills, California, a stockbroker currently registered with Wells Fargo Clearing Services, LLC, has been named in a customer initiated investment related written complaint on March 11, 2016, in which the customer requested more than $5,000.00 in damages based upon allegations that Marakas failed to abide by the customer’s stop […]

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First Standard Financial Broker Suspended

Laurence Michael Torres, of Staten Island, New York, a stockbroker formerly registered with First Standard Financial Company LLC, has suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that he did not relay to FINRA that he was compliant with a customer initiated investment related settlement or […]

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IMS Securities In Customer Arbitration Alleging Fraud

Joshua William Patterson, of Houston, Texas, a stockbroker currently registered with IMS Securities, Inc., has been named in a customer initiated investment related arbitration claim on April 7, 2017, in which the customer requested $1,233,805.00 in damages based upon allegations that Patterson breached his contractual and fiduciary duties to the customer, failed to conduct due […]

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National Securities Corp Sued In Churning Claim

Felippe Teixeira Alves, of New York, New York, a stockbroker currently registered with National Securities Corporation, has been named in a customer initiated investment related arbitration claim on June 20, 2016, in which the customer requested $5,750,000.00 in damages based upon allegations that Alves effected unauthorized trades, churned the customer’s investment account, made investment based […]

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UBS Financial Services Stockbroker Suspended By Regulator

David Alan Lavine, of Houston, Texas, a stockbroker formerly registered with UBS Financial Services Inc., has been fined and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon his failure to confirm with FINRA staff that he was compliant with a settlement agreement or customer initiated investment related […]

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Customers Bring More Claims Against Aegis Capital Corp

Robert Anthony Guidicipietro, of Holmdel, New Jersey, a stockbroker currently registered with Aegis Capital Corp., has been named in a customer initiated investment related arbitration claim on March 1, 2017, where the customer requested $250,000.00 in damages based upon allegations that Guidicipietro breached his fiduciary duties, made unsuitable investment recommendations and misrepresentations to the customers, […]

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Principal Securities Sued For Misrepresentation

Gary Michael Strange, of Raleigh, North Carolina, a stockbroker formerly registered with Principal Securities Inc., has been named in a customer initiated investment related civil action on August 1, 2016, based upon allegations that he made arrangements to borrow monies from a customer, wherein Strange misrepresented the purpose for needing the customer’s funds as well […]

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Aegis Capital Corp Named In Customer Arbitration

Joshua Lawrence Feldman, 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 February 3, 2017, in which the customer requested $110,000.00 in damages based upon allegations that he made omissions and misrepresentations, as well as unsuitable investment recommendations to […]

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Edward Jones Complaint Alleges Poor Investment Advice

May 18, 2017  |   Posted by :   |   Annuity Schemes, FINRA Securities Arbitration   |   0 Comments

Brent D. Johns, of Dubuque, Iowa, a stockbroker formerly registered with Edward Jones, has been named in a customer initiated investment related written complaint on April 10, 2017, in which the customer requested $35,000.00 in damages based upon allegations that he poorly advised the customer concerning liquidity within a fixed annuity policy issued to the […]

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Customer Brings Arbiutration Claim Against Morgan Stanley for Misrepresentation

May 18, 2017  |   Posted by :   |   FINRA Securities Arbitration   |   0 Comments

Brandon Christopher Oliver, of Hunt Valley, Maryland, a stockbroker formerly registered with Morgan Stanley Smith Barney, has been named in a customer initiated investment related arbitration claim, which settled on June 8, 2016, for $25,000.00 in damages based upon allegations that Oliver, inter alia, made misrepresentations to the customer concerning the surrender of the customer’s […]

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MetLife Securities Sued For Misrepresentation

Wayne Frederick Slattery Jr., of New York City, New York, a stockbroker formerly registered with MetLife Securities Inc., has been named in a customer initiated investment related written complaint on April 4, 2016, in which the customer’s damages are estimated to exceed $5,000.00 based upon allegations that Slattery induced the customer’s purchase of a variable […]

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TD Ameritrade Sued For Unsuitable Options Strategy

Mark Joseph Glattly, of Beverly Hills, California, a stockbroker formerly registered with TD Ameritrade, Inc., has been named in a customer initiated investment related arbitration claim on January 30, 2017, in which the customer requested $855,000.00 in damages based upon allegations that the options strategy Glattly recommended was unsuitable for the customer. Financial Industry Regulatory […]

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Independent Financial Group FINRA Arbitration Alleges Unsuitability

Kyusun Kim, of San Diego, California, a stockbroker formerly registered with Independent Financial Group, LLC, has been named in a customer initiated investment related arbitration claim on March 7, 2017, where the customer requested $350,000.00 in damages based upon allegations that Kim violated federal and state securities laws, breached his contractual and fiduciary duties, and […]

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Customer Brings Arbitration Claim Against Woodbury Financial Services

Robert Hayes Hoffman, of Greenwood, Indiana, a stockbroker formerly registered with Woodbury Financial Services, Inc., has been named in a customer initiated investment related arbitration claim on April 17, 2017, in which the customer requested $3,200,000.00 in damages based upon allegations that Hoffman sold away from his firm, churned the customer’s account, and effected unauthorized […]

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Customer Brings Securities Arbitration Against JP Morgan Securities

Pamela Lynn Kourtakis, of Dana Point, California, a stockbroker formerly registered with J.P. Morgan Securities LLC, has been named in a customer initiated investment related written complaint on September 8, 2016, in which the customer requested $5,835.18 in damages based upon allegations that Kourtakis effected the purchase of a variable annuity contract that was not […]

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Customer Sues MetLife For Annuity Fraud

May 18, 2017  |   Posted by :   |   Annuity Schemes, FINRA Securities Arbitration   |   0 Comments

Anthony Randall Bartlett, of Worcester, Massachusetts, a stockbroker formerly registered with MetLife Securities, has been named in a customer initiated investment related written complaint on May 13, 2016, in which the customer requested $41,686.62 in damages based upon allegations that Bartlett made misrepresentations to the customer concerning a variable annuity. Bartlett has been registered with […]

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Customer Bring FINRA Securities Arbitration Against Wells Fargo Advisors

May 18, 2017  |   Posted by :   |   FINRA Securities Arbitration, Over Concentration   |   0 Comments

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 […]

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