Inverse Leveraged ETF Funds

Archive | Inverse Leveraged ETF Funds

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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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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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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Morgan Stanley Sued By Investors For Securities Fraud

Ganesh Iyer (also known as Ganesh Ramachandran) of Houston Texas a stockbroker formerly registered with Morgan Stanley has been named in a customer initiated investment related arbitration claim in which Iyer and Morgan Stanley were ordered by a FINRA Arbitration Panel to pay $54,954.04 in compensatory damages to the customer based upon the Panel finding: […]

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Oppenheimer Accused By Investors Of Churning

Brandon Boyd Hanna of Minneapolis Minnesota a stockbroker formerly registered with Oppenheimer Co. Inc. is referenced in a customer initiated investment related written complaint on July 17, 2018 in which the customer sought $350,000.00 in damages founded on accusations that (1) the customer’s account was churned and (2) stock, mutual funds and exchange traded funds […]

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Investors Sue Oppenheimer For Failure to Supervise ETF Trades

James Francis Lowe of New York New York a stockbroker and supervisor currently registered with Oppenheimer Co. Inc. is the subject of a customer initiated investment related arbitration claim which was settled for $25,000.00 in damages founded on accusations that Lowe failed to supervise one of the firm’s financial advisors servicing the customer’s account who […]

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Ameriprise Blamed For Bad Investments

Julie Ann Smith of Durham North Carolina a stockbroker formerly registered with Ameriprise Financial Services Inc. is the subject of a customer initiated investment related complaint which was resolved on November 16, 2018 for $115,966.29 in damages supported by allegations that Smith utilized an unsuitable market-timing investment strategy involving non-traditional investments which included (1) derivatives […]

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Investors Continue to Sue Morgan Stanley For ETF Misconduct

Veronica Lopez-Lopez (also known as Rosa Veronica Lopez-Lopez) of Miami Florida a stockbroker currently employed by Morgan Stanley is referenced in a customer initiated investment related written complaint on October 16, 2016 where the customer requested unspecified damages based upon allegations that Lopez-Lopez effected inappropriate exchange traded funds and corporate debt transactions in the customer’s […]

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Investors Sue Lowell For Bad ETF Trades

Jody Bryant Bowers of Abilene Texas a stockbroker formerly registered with Lowell Company Inc. is referenced in a customer initiated investment related arbitration claim where the customer sought $6,000,000.00 in damages founded on allegations that (1) Bowers overconcentrated the customer’s assets in exchange traded funds over a six year period by failing to adjust the […]

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Cadaret Grant Sanctioned By SEC For Failure To Supervise

Cadaret Grant Co. Inc. a broker-dealer headquartered in Syracuse New York along with its president Arthur Grant and chief compliance officer Beda Lee Johnson and stockbroker Eugene James Long have been named in a Securities and Exchange Commission (SEC) Order Instituting Administrative and Cease-and-Desist Proceedings containing findings of the firm’s failure to supervise its representatives’ […]

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Wells Fargo Advisors Stockbroker Barred By FINRA

Mathew D. Webster of Syracuse New York a stockbroker formerly employed by Wells Fargo Advisors LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that he failed to honor FINRA’s request for his information. Case No. 2016051007901 (Sept. 11, 2017). FINRA Public Disclosure confirms […]

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Ameriprise Investors Bring Claim For Unsuitable ETF Sales

August 17, 2018  |   Posted by :   |   Inverse Leveraged ETF Funds, Stockbroker Fraud News   |   0 Comments

John Tao of Plantation Florida a stockbroker currently employed by Ameriprise Financial Services Inc. is referenced in a customer initiated investment related written complaint on June 8, 2018 where the customer requested $84,000.00 in damages founded on allegations that Tao effected exchange-traded funds in the customer’s investment account that were not suitable for the customer […]

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Investors Sue Wells Fargo For Bad ETF Sales

Jamie Roger Meehan of Fort Lauderdale Florida a stockbroker currently employed by Wells Fargo Clearing Services LLC is referenced in a customer initiated investment related arbitration claim which was resolved for $120,000.00 in damages founded on accusations of unsuitable exchange-traded fund recommendations having been made to the customer. Financial Industry Regulatory Authority (FINRA) Arbitration No. […]

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FINRA Lawyers Sue Ameriprise For ETF Fraud

June 12, 2018  |   Posted by :   |   Inverse Leveraged ETF Funds, Stockbroker Fraud News   |   0 Comments

Joseph Anthony Zarlenga of Bradenton Florida a stockbroker currently registered with Ameriprise Financial Services Inc. is referenced in a customer initiated investment related written complaint on February 5, 2018 where the customer sought $40,000.00 in damages founded on allegations that misrepresentations had been made to the customer concerning the performance of the customer’s exchange traded […]

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FINRA Fines MetLife Broker For Unauthorized Trading

May 29, 2018  |   Posted by :   |   Inverse Leveraged ETF Funds, Stockbroker Fraud News   |   0 Comments

Kelly Marvin Barnett of Sarasota Florida a stockbroker formerly employed by MSI Financial Services has been fined $15,000.00 and suspended for six months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he executed trades in customers’ accounts without authorization and falsified account documentation in […]

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Customer Accuses Morgan Stanley Of Excessive Trading

Barry Lee Garapedian of Westlake Village California a stockbroker currently registered with Morgan Stanley is referenced in a customer initiated investment related written complaint on April 1, 2018 in which the customer requested $713,000.00 in damages founded on allegations that (1) the customer’s assets were overconcentrated in speculative investments (2) closed end fund and exchange […]

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FINRA Censures Cambridge For Failure To Supervise ETFs

Cambridge Investment Research a brokerage firm headquartered in Fairfield Iowa has been censured and fined $150,000.00 by Financial Industry Regulatory Authority (FINRA) supported by consenting to findings that the firm failed to supervise non-traditional exchange traded fund sales and variable annuity redemptions. Letter of Acceptance Waiver and Consent No. 2016048934301 (May 3, 2018). According to […]

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FINRA Censures Laidlaw For Failure To Supervise ETFs

Laidlaw Company (UK) LTD. is a brokerage firm headquartered in London England that has been censured and fined $25,000.00 by Financial Industry Regulatory Authority (FINRA) founded on allegations that it failed to supervise recommendations of inverse and leveraged exchange traded funds to make sure that those recommendations complied with FINRA and NASD Rules. Letter of […]

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Morgan Stanley Broker Charged for Non Traditional ETF Sales

Randall Robert Hayes (also known as Randy Hayes) of Seattle Washington a stockbroker formerly registered with Morgan Stanley is the subject of a State of Washington Department of Financial Institutions Securities Division Statement of Charges in which Hayes has been accused of making unsuitable recommendations to customers concerning investments in leverage and inverse exchange-traded funds. […]

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Customer Accuses Ameriprise Of ETF Suitability

Steven Carroll Wall of New Brighton Minnesota is a stockbroker currently registered with Ameriprise Financial Services Inc. who is the subject of a customer initiated investment related written complaint November 20, 2017 in which the customer sought $48,515.00 in damages supported by allegations that (1) unsuitable investment recommendations were made to the customer concerning exchange […]

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Ace Diversified Capital Broker Fined For Unsuitable Recommendations

March 16, 2018  |   Posted by :   |   Inverse Leveraged ETF Funds, Stockbroker Fraud News   |   0 Comments

Omer Ozeren of Los Angeles California is a stockbroker formerly employed by Ace Diversified Capital Inc. who has been fined $10,000.00 and suspended for three months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity by consenting to findings that he made unsuitable investment recommendations to customers regarding non-traditional exchange traded […]

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Western International Fined For Failure To Supervise

Western International Securities Inc. is a brokerage firm headquartered in Pasadena California who has been censured and fined one hundred twenty five thousand dollars by Financial Industry Regulatory Authority (FINRA) based upon accusations that it failed to create and implement adequate supervisory procedures and systems for purposes of making sure that non-traditional exchange traded fund […]

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SEC Investigates PWA Broker For Leveraged ETF Trading

March 07, 2018  |   Posted by :   |   Inverse Leveraged ETF Funds, Stockbroker Fraud News   |   0 Comments

John Martin Schneider of Pittsburgh Pennsylvania is stockbroker formerly registered with PWA Securities Inc. and former representative of Private Wealth Advisors Inc. who is the subject of a Securities Exchange Commission (SEC) Investigation launched on July 13 2017 regarding Schneider’s leveraged exchange traded fund activities. Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that Schneider […]

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Independent Financial Group Accused Of Suitability

February 20, 2018  |   Posted by :   |   Inverse Leveraged ETF Funds, Stockbroker Fraud News   |   0 Comments

Lyle J. Boudreaux of Houston Texas is a stockbroker currently registered with Independent Financial Group LLC who is subject of a customer initiated investment related written complaint on October 27 2017 in which the customer sought two hundred ten thousand dollars in damages founded on accusations that unsuitable leveraged exchange traded fund transactions were effected […]

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Credit Suisse Accused Of Unsuitable ETF Trading

January 26, 2018  |   Posted by :   |   Inverse Leveraged ETF Funds, Stockbroker Fraud News   |   0 Comments

Anthony John O’Callaghan, of New York, New York, a stockbroker formerly employed with Credit Suisse Securities (USA) LLC, is the subject of a customer initiated investment related written complaint on February 23, 2017, in which the customer requested $57,298.00 in damages supported by allegations that an inappropriate inverse exchange traded fund transaction was effected in […]

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Network 1 Financial Censured For Failure To Supervise

October 16, 2017  |   Posted by :   |   Failure To Supervise, Inverse Leveraged ETF Funds   |   0 Comments

Network 1 Financial a broker headquartered in Red Bank, New Jersey, has been censured and fined $20,000.00 by Financial Industry Regulatory Authority (FINRA) based upon consenting to findings that Network 1 Financial failed to supervise non-traditional exchange traded funds effected by its registered representatives. Letter of Acceptance, Waiver and Consent, No. 2015046575201 (Oct. 2, 2017). […]

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FSC Securities Corp. Settles Non-Traditional ETF Action

September 15, 2017  |   Posted by :   |   Inverse Leveraged ETF Funds, Stockbroker Fraud News   |   0 Comments

FSC Securities Corp., headquartered in Atlanta, GA, has agreed to a letter of acceptance, waiver and consent (“AWC”) with FINRA dated August 10,2017. The agreement in Enforce,ment Action AWC 2010024620303 involves the sale to customers of non-traditional Exchange Traded Funds (“ETFs”). FSC operates a general securities business utilizing an independent contractor model. It has approximately […]

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Oppenheimer Stockbroker Suspended For Suitability

September 15, 2017  |   Posted by :   |   Failure To Supervise, Inverse Leveraged ETF Funds   |   0 Comments

Edward T. McFarlane, of Jenkintown, Pennsylvania, a stockbroker formerly registered with Oppenheimer & Co. Inc., has been fined $5,000.00 and suspended for two months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he effected non-traditional exchange traded fund trades which were not suitable for […]

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Royal Alliance Stockbroker Suspended For Suitability

September 14, 2017  |   Posted by :   |   Inverse Leveraged ETF Funds, Stockbroker Fraud News, Suitability   |   0 Comments

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

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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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Regulator Fines FSC Securities Corporation

August 17, 2017  |   Posted by :   |   Exchange Traded Funds, Inverse Leveraged ETF Funds   |   0 Comments

FSC Securities Corporation, a broker-dealer headquartered in Atlanta, Georgia, has been censured and fined $100,000.00 by Financial Industry Regulatory Authority (FINRA) based upon consenting to findings that the firm failed to supervise sales of leveraged, inverse, or inverse and leveraged exchange traded funds and enabled its staff to make unsuitable investment recommendations of exchange traded […]

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Coastal Equities Sanctioned For Failure To Supervise

Coastal Equities, Inc., a brokerage firm headquartered in Wilmington, Delaware, has been censured and fined $15,000.00 by Financial Industry Regulatory Authority (FINRA) based upon consenting to findings that the firm did not properly supervise the sale of non-traditional exchange traded funds. Letter of Acceptance, Waiver and Consent, No. 2014041310602 (June 9, 2017). According to the AWC, […]

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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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Calton Associates Stockbroker Barred By Regulator

June 08, 2017  |   Posted by :   |   Inverse Leveraged ETF Funds, Stockbroker Fraud News   |   0 Comments

Daniel Lee Pancake, of Reno, Nevada, a stockbroker formerly registered with Calton & Associates, Inc., has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based on allegations that he waffled and did not provide a response to FINRA’s request for information pertaining to Pancake’s business activities. Letter […]

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Former Oppenheimer Broker Suspended For Unsuitable Exchange Traded Funds

Edward T. McFarlane, a broker formerly in Oppenheimer’s Jenkintown, Pennsylvania branch office, in a Letter of Acceptance, Waiver & Consent, has agreed to serve a suspension and pay a fine relating the unsuitable Exchange Traded Funds (“ETFs”) he recommended to a customer. Between December 2010 and June 2012 McFarlane recommended 169 unsuitable trades in inverse, […]

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Stockbroker Fraud Lawyers File Martin Leveraged ETF Claims

The Guiliano Law Group has filed an FINRA Arbitration action against G.F. Investment Services LLC based upon the conduct of Richard Walker Lunn Martin, or Richard W. Martin, the chief of gloom and doom, and speculative moron that invested the accounts of virtually all his customers in highly risky inverse and/or leveraged ETF securities. Martin […]

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GF Investment Services Stockbroker Barred

May 05, 2017  |   Posted by :   |   Inverse Leveraged ETF Funds, Stockbroker Fraud News   |   0 Comments

Richard William Lunn Martin of Miami, Florida, a stockbroker formerly registered with G.F. Investment Services, LLC, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon an Order Accepting Offer of Settlement issued by FINRA Office of Hearing Officers, which contained findings that Martin, inter alia, made unsuitable […]

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Garden State Securities Fined For Failure To Supervise NonTraditional ETF Investments

May 05, 2017  |   Posted by :   |   Inverse Leveraged ETF Funds, Stockbroker Fraud News   |   0 Comments

Garden State Securities, Inc., a brokerage firm headquartered in Red Bank, New Jersey, was censured and fined by Financial Industry Regulatory Authority (FINRA) based upon consenting to findings that the firm, inter alia, failed to supervise its exchange traded fund business. Letter of Acceptance, Waiver and Consent, https://stockbrokerfraud.com/inverse-leveraged-etf-funds/No. 2013035131702 (Apr. 12, 2017). According to the AWC, […]

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Vanguard Capital Stockbroker Suspended For Misconduct

April 11, 2017  |   Posted by :   |   Inverse Leveraged ETF Funds, Stockbroker Fraud News   |   0 Comments

John Amador Blakezuniga of Irvine, California, a stockbroker formerly registered with Vanguard Capital, has been fined $25,000.00 and suspended for twenty-two 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 customers, falsified compliance documents, and entered into unauthorized borrowing […]

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Morgan Stanley Stockbroker Barred By Regulator

April 10, 2017  |   Posted by :   |   Inverse Leveraged ETF Funds, Stockbroker Fraud News   |   0 Comments

Hilary Joseph Zimmerman, of Ridgeland, Mississippi, has been fined and permanently barred in all capacities which require securities registration by the Securities Division of the Mississippi Secretary of State based upon consenting to findings that altered the account documentation of customers, and failed to act in customers’ best interests in reference to customers’ exchange traded […]

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UBS Financial Services Sued For Failure To Supervise

David Howard Bigler, a stockbroker currently registered with UBS Financial Services Inc., has been named in a customer initiated investment related arbitration claim on February 2, 2017, in which the customer requested $21,000,000.00 in damages based upon allegations that between 2013 and 2016, UBS Financial Services Inc. failed to supervise Bigler’s activities concerning the customer’s […]

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Hilltop Securities Sued by Customers For Unsuitability

Steven Howard Bright, of Dallas, Texas, a stockbroker formerly registered with Wunderlich Securities, Inc., has been named in a customer initiated investment related written complaint on September 30, 2016, in which the customer requested $17,000.00 in damages based upon allegations that Bright effected exchange traded note transactions in the customer’s account on an excessive and […]

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Sica Wealth Management Sued For Unsuitability

Jeffrey Carmen Sica, of Parsippany, New Jersey, a registered representative associated with Sica Wealth Management, has been named in a customer initiated investment related arbitration claim, which settled on April 27, 2015, for $211,250.00 in damages based upon allegations that Sica effected unsuitable stock and exchange traded fund (ETF) transactions in the customer’s account. Financial […]

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First Allied Securities Fined For Failure To Supervise Structured Products Sales

First Allied Securities, Inc., a broker-dealer headquartered in San Diego, California, was censured and fined $950,000.00 by Financial Industry Regulatory Authority (FINRA) after the firm consented to findings of misconduct that included, inter alia, the firm’s failure to appropriately supervise the sales of structured products. Letter of Acceptance, Waiver and Consent, No. 2015045234401 (Nov. 2, […]

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Oppenheimer Fined For Failing To Supervise Exchange Traded Fund Sales

Oppenheimer & Co., Inc., headquartered in New York, New York, was censured and fined $2,250,000.00 by Financial Industry Regulatory Authority (FINRA) after consenting to findings that the firm failed to properly supervise exchange traded funds. Letter of Acceptance, Waiver and Consent, No. 2012034556901 (June 7, 2016). According to the AWC, from August 4, 2009 through September […]

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World Equity Group Fined For Failure To Supervise

World Equity Group, Inc., headquartered in Arlington Heights, Illinois, was fined $50,000.00 and censured by Financial Industry Regulatory Authority (FINRA) after consenting to findings that the firm failed to supervise unsuitable and excessive equity trading. Letter of Acceptance, Waiver and Consent, No. 2014039231401 (Apr. 25, 2016). According to the AWC, from November 2009 through September […]

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Lombard Securities Fined For Failure to Supervise

Lombard Securities Inc., headquartered in Baltimore, Maryland, was censured and fined $50,000.00 by Financial Industry Regulatory Authority (FINRA) pursuant to an Order Accepting Offer of Settlement containing findings that the firm committed supervisory violations pertaining to mutual fund switches, uniform investment trusts (UITs), and non-traditional exchange traded funds (ETFs); and failed to provide customers with […]

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Infinex Investments Stockbroker Suspended For Unauthorized Trading

Christopher J. Elliott, of Washington, District of Columbia, a stockbroker with Infinex Securities, Inc., was fined $7,500.00 and suspended for two years from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he engaged customers in unsuitable recommendations and acted with unauthorized discretion in customers’ accounts. Letter […]

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FSC Securities Corbman Suspended For Unsuitable Recommendations

Andrew Scott Corbman, of Lansdown, Virginia, was suspended for one month from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he engaged in unsuitable recommendations and provided misleading communications to investors. Letter of Acceptance, Waiver and Consent, No. 2010024620302 (Feb. 1, 2016). According to the AWC, […]

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Summit Brokerage Services Fined for Unsuitable Recommendations

December 09, 2015  |   Posted by :   |   Inverse Leveraged ETF Funds, Stockbroker Fraud News, Suitability   |   0 Comments

Summit Brokerage Services of Boca Raton, Florida, was censured and fined $250,000 by the Financial Industry Regulatory Authority (FINRA) after consenting to findings that the firm, via its registered representatives, made unsuitable recommendations for customers to purchase leveraged and inverse exchange-traded funds. Letter of Acceptance, Waiver, and Consent, No. 2011029635101 (Dec. 2, 2015). According to […]

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Craig Scott Capital Stockbroker Barred for Fraudulent Trading

Zachary T. Bader of Melville, New York, a stockbroker with Craig Scott Capital, 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 excessive trading and unsuitable recommendations. Letter of Acceptance, Waiver and Consent, No. 20130363873-01 (Nov. 13, 2015). According […]

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GMS Group Supervisor Suspended for Role in Unsuitable and Unauthorized Transactions

Carmine C. Capone from Boca Raton, Florioda, a principal with GMS Group, LLC, was suspended in all capacities from association with a Financial Industry Regulatory Authority (FINRA) member in all principal capacities for thirty days and fined $10,000 after consenting to findings that he failed to adequately supervise the sales practices of Jason L. Figueroa, […]

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GMS Group Stockbroker Barred for Unsuitable and Unauthorized Trading

Jason L. Figueroa of Boca Raton, Florida, a stockbroker with GMS Group, LLC, was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he had recommended and engaged in unsuitable trading in nontraditional ETFs in customer accounts, while exercising discretion without prior written authority […]

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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 […]

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LPL Fined $10M For Supervisory Failures

LPL Financial LLC, a FINRA member since 1973 headquartered in Boston, MA, conducts general securities business via 18,343 registered reps operating out of roughly 10,702 registered branch offices and 18,396 non-registered office locations. The firm was censured and fined $10M after consenting to FINRA’s findings concerning the firm’s failure(s) to adequately supervise ETF, variable annuity, […]

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Broker Dealer Financial Services Fined & Censored by FINRA

Broker Dealer Financial Services Corp. (“BDFS”), a FINRA member since 1979 headquartered in West Des Moines, Iowa, provides brokerage services throughout the United States via 270 of its registered reps operating out of 130 branch offices. BDFS was censured and fined for $75,000 by FINRA after consenting to FINRA findings regarding the firm’s failures in […]

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