Inverse Leveraged ETF Funds

Archive | Inverse Leveraged ETF Funds

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   |   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 1,300 […]

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Oppenheimer Stockbroker Suspended For Suitability

September 15, 2017  |   Posted by :   |   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 […]

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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 Firm 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 […]

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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 […]

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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 […]

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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. 2013038180801 (June 7, 2016). According to the AWC, from August 4, 2009 through […]

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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 Corporation Stockbroker 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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