Unauthorized Trading

Archive | Unauthorized Trading

FINRA Bars Craig Scott Capital Broker For Churning

Edward Beyn of New York New York a stockbroker formerly registered with Craig Scott Capital LLC is the subject of a Financial Industry Regulatory Authority (FINRA) National Adjudicatory Council Decision which affirms FINRA’s Hearing Panel’s decision to bar Beyn because (1) Beyn effected excessive trades in customer accounts (2) Beyn churned customers’ investment portfolios and […]

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Ameriprise Broker Admits To Unauthorized Trading of Customer Accounts

Timothy John Knutson of Saint James Minnesota a stockbroker formerly employed by Ameriprise Financial Services Inc. has been fined $5,000.00 and suspended for five months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he effected unauthorized transactions in Ameriprise Financial Services’ customer accounts. Letter […]

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Investors Accuse Raymond James Of Churning

Ryan Davis Wold of Edina Minnesota a stockbroker formerly employed by Raymond James Associates Inc. is the subject of a customer initiated investment related written complaint which was settled for $27,000.00 on June 28, 2018 supported by accusations that between 2014 and 2017: (1) transactions were effected in the customer’s account that were not suitable […]

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Deutsche Bank Broker Accused By Investor Of Forgery

February 05, 2019  |   Posted by :   |   Forgery, Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Paul P. Ruane of New York New York a stockbroker formerly employed by Deutsche Bank Securities Inc. is referenced in a customer initiated investment related written complaint on June 19, 2015 where the customer sought damages estimated to exceed $5,000.00 supported by accusations that Ruane executed transactions in a customer’s account with knowledge that the […]

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LPL Financial Broker Targeted In Unauthorized Trading Action

February 05, 2019  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Louis Mark Miller of Jericho New York a stockbroker formerly employed by LPL Financial LLC is referenced in a Financial Industry Regulatory Authority (“FINRA”) Wells Notice in which FINRA has made an initial determination to suggest that FINRA Department of Enforcement bring a disciplinary action against Miller for obstructing an investigation and making unauthorized trades […]

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David Lerner Associates Accused Of Unauthorized Trading

Martin Kevin Walcoe of Syosset New York a stockbroker currently employed by David Lerner Associates Inc. is referenced in a customer initiated investment related written complaint on August 9, 2016 where the customer requested unspecified compensatory damages founded on accusations that unauthorized trades of equities and government-debt products had been executed in the customer’s account. […]

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FINRA Bars Joseph Stone Broker In Investigation

Christopher Vincent Paul of Mineola New York a stockbroker formerly registered with Joseph Stone Capital L.L.C. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on allegations that Paul failed to comply with FINRA’s request for information potentially relating to Paul’s employment separations after being subject of […]

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Investors Accuse Invest Financial Of Unauthorized Trading

Johnathon Leland Cope of Canton Georgia a stockbroker formerly registered with Invest Financial Corporation is referenced in a customer initiated investment related complaint on February 19, 2016 in which the customer sought $8,015.32 in damages supported by allegations that Cope effected the sale of a mutual fund in the customer’s account without procuring the customer’s […]

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FINRA Catches Edward Jones Broker Altering New Account Forms

January 19, 2019  |   Posted by :   |   Forgery, Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Donald Logan of Silverdale Washington a stockbroker formerly employed by Edward Jones has been fined $25,000.00 and suspended for eighteen months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based in part upon consenting to findings that Logan effected unauthorized trades in customer accounts and caused customers to sign incomplete […]

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FINRA Bars Morgan Stanley Broker In Investigation

Daniel Todd Levine of Greenwood Village Colorado a stockbroker formerly employed by Morgan Stanley has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Levine failed to cooperate with FINRA’s investigation into accusations that (1) Levine engaged in unauthorized trading of customer accounts […]

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Sigma Financial Broker Fined For Unauthorized Trading

Gregory Joseph Rusnak of St. Charles Illinois a stockbroker formerly registered with Sigma Financial Corporation has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Rusnak executed unauthorized trades in the accounts of Sigma Financial Corporation customers. Letter of Acceptance […]

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Morgan Stanley Broker Fined For Unauthorized Trading

January 19, 2019  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Frank Fornshell Venable II of Knoxville Tennessee a stockbroker currently registered with Morgan Stanley has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Venable placed unauthorized trades in Morgan Stanley customers’ accounts. Letter of Acceptance Waiver and Consent No. […]

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UBS Broker Admits To Unauthorized Trading

January 06, 2019  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Paul Steven Wishingrad of Beverly Hills California a stockbroker formerly employed by UBS Financial Services Inc. has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he effected unauthorized trades in customer accounts. Letter of Acceptance Waiver and Consent No. […]

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FINRA Bars LPL Financial Broker In Investigation

January 06, 2019  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Paul Edward Dorion of Killington Vermont a stockbroker formerly employed by LPL Financial LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on allegations that Dorion failed to respond to FINRA’s inquiry. FINRA Case No. 2015047608601 (Oct. 31, 2016). According to FINRA Public Disclosure, a request […]

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AXA Broker Suspended For Unauthorized Trading

Dennis Changseop Lee of Middle Villages New York a stockbroker formerly employed by AXA Advisors LLC has been fined $15,000.00 and suspended for nine months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he mismarked customers’ order tickets and failed to disclose his discretionary […]

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FINRA Bars Pruco Broker In Investigation

January 06, 2019  |   Posted by :   |   Annuity Schemes, Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Liju Varghese (also known as Joe Varghese) of Howard Beach New York a broker formerly registered with Pruco Securities has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Varghese failed to cooperate with FINRA personnel’s investigation of his possible unauthorized trading in […]

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Investors Sue Merrill Lynch For Unauthorized Trading

John Richard Henderson of Sarasota Florida a stockbroker formerly currently with Merrill Lynch Pierce Fenner Smith Inc. is referenced in a customer initiated investment related written complaint on September 6, 2016 where the customer requested unspecified damages founded on allegations that unauthorized over-the-counter equities trades were effected in the customer’s account. Financial Industry Regulatory Authority […]

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Wells Fargo Broker Investigated For Unauthorized Trading

January 03, 2019  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

David John Strnad of Nashville Tennessee a stockbroker formerly registered with Wells Fargo Clearing Services LLC has been issued a Financial Industry Regulatory Authority (FINRA) Wells Notice revealing that FINRA concluded that it should pursue a disciplinary action against Strnad founded on accusations that Strnad violated FINRA Rule 2010 by effecting trades in a customer’s […]

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FINRA Charges Morgan Stanley Brokers With Churning

Ami Kathryn Forte and Charles Joseph Lawrence of Palm Harbor Florida stockbrokers formerly employed by Morgan Stanley have been charged by Financial industry Regulatory Authority (FINRA) in a Complaint alleging that Forte and Lawrence (1) engaged in unsuitable trading of a disabled customer’s account (2) effected unauthorized trades and (3) churned the customer’s investment portfolio. […]

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National Securities Morin Blamed For Unauthorized Trading

January 03, 2019  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Jon Morin of New York New York a stockbroker formerly registered with National Securities Corporation is the subject of a customer initiated investment related written complaint on February 21, 2017 where the customer requested $15,000.00 in damages based upon accusations that unauthorized over-the-counter equities trades were executed in the customer’s equity account. Financial Industry Regulatory […]

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Investors Sue Merrill Lynch For Unauthorized Trading

Susan E. Regan (also known as Susan Marie Eustace) of Westfield New Jersey a stockbroker currently employed by Merrill Lynch Pierce Fenner Smith Inc. is the subject of a customer initiated investment related arbitration claim where the customer requested $140,000.00 in damages founded on allegations that (1) misrepresentations and omissions were made in regard to […]

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Cetera Advisors Sued By Investor For Excessive Fees

December 21, 2018  |   Posted by :   |   Excessive Markups, Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Joseph Medina of New York New York a stockbroker currently employed by Cetera Advisors LLC is the subject of a customer initiated investment related arbitration claim in which the customer requested $350,000.00 in damages supported by accusations that (1) Medina effected unauthorized trades in the customer’s account and (2) Medina charged the customer commissions that […]

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Edward Jones Broker Suspended For Unauthorized Trading

December 13, 2018  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Michael Jason Gamez of Corsicana Texas a stockbroker formerly registered with Edward Jones has been fined $25,000.00 and suspended for one year from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that (1) Gamez effected unauthorized trades in customer accounts and (2) Gamez executed trades that […]

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FINRA Bars Citigroup Broker For Failure To Cooperate

Mark Joseph Flanagan of Highland Park Illinois a stockbroker formerly registered with Citigroup Global Markets Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Flanagan obstructed a FINRA investigation into his alleged unauthorized and unsuitable transactions. Letter of Acceptance Waiver and […]

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Investors Accuse Morgan Stanley Of Unauthorized Trading

December 13, 2018  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

John Martin Kelley Jr. of Northfield New Jersey a stockbroker currently registered with Morgan Stanley is the subject of a customer initiated investment related written complaint on October 12, 2018 in which the customer sought damages estimated to exceed $5,000.00 in damages based in part on accusations that unauthorized stock trades were effected in the […]

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Morgan Stanley Terminates Broker For Unauthorized Trading

Frank David Sardano of Toms River New Jersey a stockbroker formerly employed by Morgan Stanley Wealth Management has been terminated by the firm on October 1, 2018 founded on accusations that Sardano exercised discretion in the accounts of Morgan Stanley customers. Financial Industry Regulatory Authority (FINRA) Public Disclosure also reveals that on June 3, 2005, a […]

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Stockbroker Misconduct Continues to Plague Investors

The Financial Industry Regulatory Authority released its 2018 Examination Report, showing the areas in which the regulator has taken  some form of enforcement action against brokerage firms to prevent them from taking advantage of their customers, and to “better protect investors and maintain the integrity of the markets.” The Recommendation of Unsuitable Investments First, on […]

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Morgan Stanley Stockbroker Fined For Unauthorized Trading

November 30, 2018  |   Posted by :   |   Elder Abuse, Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Richard Aloysius Juracka of New York New York a stockbroker currently registered with Morgan Stanley has been fined $50,00.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he effected unauthorized trades in Morgan Stanley customers’ accounts. Letter of Acceptance Waiver and Consent […]

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UBS Financial Blamed For Failure To Disclose Risk

Walter James Keating of Indian Wells California a stockbroker formerly employed by UBS Financial Services Inc. is referenced in a customer initiated investment related written complaint on April 25, 2016 where the customer requested damages estimated to exceed $5,000.00 supported by allegations that (1) Keating omitted information from the customer in regard to the customer’s […]

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WFG Stockbroker Sanctioned For Unauthorized Transactions

November 30, 2018  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Donna Jean Chism of Edmond Oklahoma a stockbroker formerly registered with WFG Investments Inc. has been fined $2,500.00 and sanctioned by Oklahoma Department of Securities based upon Chism consenting to the Department’s findings that Chism engaged in unauthorized transactions in customer accounts. Case No. 17-055 (Apr. 3, 2017). Oklahoma Department of Securities alleged that Chism […]

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FINRA Snags Berthel Fisher Broker For Unauthorized Trading

November 30, 2018  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

John Huey Neely of Edmond Oklahoma a stockbroker formerly employed by Berthel Fisher Company Financial Services has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon Neely’s consent to findings that he executed unauthorized trades in customer accounts. Letter of Acceptance Waiver and Consent […]

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Investors Slam Oppenheimer For Unauthorized Trading

November 30, 2018  |   Posted by :   |   Stockbroker Fraud News, Suitability, Unauthorized Trading   |   0 Comments

David Thomas Pawloski of Princeton New Jersey a stockbroker formerly registered with Oppenheimer Co. Inc. is the subject of a customer initiated investment related written complaint which settled for $60,000.00 on October 25, 2017 supported by allegations that between February of 2017 and April of 2017: (1) unauthorized transactions were placed in the customer’s account […]

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Investors Sue American Capital Partners For Unauthorized Transactions

Michael Montelli of Hauppauge New York a stockbroker currently registered with American Capital Partners LLC is referenced in a customer initiated investment related written complaint on April 11, 2017 in which the customer requested damages estimated to exceed $5,000.00 in damages founded on accusations that (1) margin was utilized without the customer’s permission (2) unauthorized […]

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Coastal Equities Pays Customer For Bad Recommendations

November 30, 2018  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Katherine Salome Horgan of Needham Massachusetts a stockbroker formerly employed by Coastal Equities Inc. and investment adviser representative of Heritage Wealth Management Inc. is the subject of a customer initiated investment related written complaint which settled for $40,000.00 on February 21, 2018 supported by accusations that Horgan placed stock transactions in the customer’s account that […]

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Barney Barnato Burned For Unauthorized Trading

November 23, 2018  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Barney Norman Barnato of Walnut Creek California a stockbroker formerly employed by Barney Norman Barnato has been discharged by the firm on April 11, 2017 based upon accusations that Barnato exercised discretion in a customer’s account without having generated the customer’s permission beforehand. Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that Barnato is referenced […]

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Investors Chase Amerprise For Unauthorized Withdrawals

November 23, 2018  |   Posted by :   |   Annuity Schemes, Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Hema Joshi (also known as Hema Jerath) of Flemington New Jersey a stockbroker currently registered with Ameriprise Financial Services, Inc. is the subject of a customer initiated investment related written complaint on April 3, 2017 where the customer sought $24,339.85 in damages based upon accusations that Joshi (1) placed the customer in an unsuitable variable […]

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Edward Jones Broker Caught Unauthorized Trading

November 23, 2018  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Mark Stewart Saunders of Monroe City Missouri a stockbroker formerly employed by Edward Jones 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 he effected unauthorized mutual fund purchases in customer accounts. Letter of Acceptance Waiver and Consent No. […]

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Wells Fargo Broker Barred In Trading Investigation

November 23, 2018  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Terrence Raymond Puricelli of Chesterfield Missouri 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 consenting to findings that he failed to cooperate with FINRA personnel in an investigation regarding allegations that Puricelli engaged in unauthorized trading. […]

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Investor Accuses Citizens Securities For Fraud

Bruce Richard Cooke of Broomall Pennsylvania a stockbroker formerly employed by Citizens Securities Inc. is referenced in a customer initiated investment related written complaint on November 9, 2017 where the customer sought damages estimated to exceed $5,000.00 founded on accusations that (1) Cooke made misleading representations to the customer regarding a fixed annuity investment (2) […]

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LPL Fires Stockbroker For Unauthorized Trading

November 12, 2018  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Virginia Ann Pack of White House Tennessee a stockbroker formerly registered with LPL Financial LLC has been terminated from employment on March 6, 2017 based upon accusations that Pack exercised discretion in a customer’s account without the firm’s authorization which was conduct violative of the firm’s policies. Financial Industry Regulatory Authority (FINRA) Public Disclosure additionally […]

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Morgan Stanley Stockbroker Barred For Hindering Investigation

November 12, 2018  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Bruce Arnold Plyer of Florham Park New Jersey a stockbroker formerly employed by Morgan Stanley 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 placed unapproved trades in customers’ investment accounts. Letter of […]

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Voya Stockbroker Barred In Investigation

James Travis Flynn of Greenville Securities a stockbroker formerly employed by Voya Financial Advisors Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on accusations that Flynn failed to comply with FINRA’s requests for information regarding his sales practices. Case No. 201705354701 (Sept. 4, 2018). According […]

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Raymond James Discharges Broker For Unauthorized Trading

David Mark Waddle of Destin Florida a stockbroker formerly employed by Raymond James Associates Inc. has been discharged by Raymond James on June 5, 2017 based upon allegations that Waddle (1) admitted to exercising discretion in customer accounts by placing trades without speaking with those customers beforehand and (2) neglected to inform Raymond James Associates […]

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LPL Financial Broker Fired For Unauthorized Trading

October 22, 2018  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Robert Scott Davis of Richmond Indiana a stockbroker formerly registered with LPL Financial LLC has been discharged by LPL Financial on August 16, 2017 supported by accusations that Davis violated the firm’s policy by placing trades in LPL Financial customer accounts on a discretionary basis. Financial Industry Regulatory Authority (FINRA) Public Disclosure also confirms that […]

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Investors Sue Woodstock Financial Group For Fraud

Stephen Mark Kiront of Garden City New York a stockbroker formerly employed by Woodstock Financial Group Inc. is the subject of a customer initiated investment related arbitration claim where the customer requested damages estimated at $100,000.00 founded on accusations including (1) negligent unjust enrichment (2) breach of contract (3) suitability (4) breach of fiduciary duty […]

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Ameritas Stockbroker Fined By FINRA For Unauthorized Trading

October 22, 2018  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Daniel K. Kittner of Mesa Arizona a stockbroker formerly employed by Ameritas Investment Corp. has been has been fined $7,500.00 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 exercised discretion in a customer’s account without having written authorization. […]

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LPL Blamed By Investor For Unauthorized Trading

October 22, 2018  |   Posted by :   |   Stockbroker Fraud News, Suitability, Unauthorized Trading   |   0 Comments

John Ernest Orito of Fresno California a stockbroker formerly registered with LPL Financial LLC is the subject of a customer initiated investment related complaint which settled for $110,000.00 in damages on December 17, 2015 supported by accusations that unsuitable and unauthorized equities trades had been executed in the customer’s account. Financial Industry Regulatory Authority (FINRA) […]

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FINRA Bars Morgan Stanley Broker For Failure To Cooperate

October 22, 2018  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Kevin Peter Smith of Minneapolis Minnesota a stockbroker formerly registered with Morgan Stanley 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’s investigation into accusations that Smith traded in a Morgan Stanley customer’s account without procuring […]

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J.J. Hillard W.L. Lyons Sued For Unauthorized Trading

William Ray Wobbe of Louisville Kentucky a stockbroker currently employed by J.J.B. Hilliard W.L. Lyons LLC is the subject of a customer initiated investment related arbitration claim in which the customer sought $87,628.56 in damages based upon accusations that (1) unauthorized trades were executed in the customer’s account (2) transactions effected in the customer’s account […]

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Investors Blame Morgan Stanley For Unauthorized Trading

Carl Dennis Hanks of Morristown New Jersey a stockbroker formerly registered with Morgan Stanley Smith Barney is referenced in a customer initiated investment related written complaint on March 11, 2016 where the customer requested unspecified damages based upon allegations that unauthorized mutual fund purchases had been effected in the customer’s account. Financial Industry Regulatory Authority […]

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LPL Financial Sued By Investor For Unauthorized Trading

Samuel Izaguirre of Pembroke Pines Florida a stockbroker registered with LPL Financial LLC is the subject of a customer initiated investment related arbitration claim in which the customer sought $100,000.00 in damages founded on allegations that (1) Izaguirre did not disclose information about a non-traded real estate investment trust merger and (2) Izaguirre effected the […]

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FINRA Suspends Wells Fargo Broker For Unauthorized Trading

October 04, 2018  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Timothy Jay Scherwa of Morris Plains New Jersey a stockbroker formerly registered with Wells Fargo Clearing Services LLC has been fined $7,500.00 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 engaged in unauthorized trading in customer accounts. Letter of […]

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Ameriprise Financial Stockbroker Sanctioned By Regulator

Vincent Leonard Petrangelo of Springfield Massachusetts a stockbroker employed by Ameriprise Financial Services Inc. has been ordered by the Massachusetts Securities Division to be placed on heightened supervision as a condition of registering with Ameriprise in the state of Massachusetts based upon Petrangelo’s history of transgressions including his disclosure of five customer complaints alleging (1) […]

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Investors Sue Wells Fargo Advisors For Churning

Sam Aziz of Dublin Ohio a stockbroker formerly employed by Wells Fargo Advisors Financial Network is the subject of a customer initiated investment related arbitration claim in which the customer requested $400,000.00 in damages founded on allegations that Aziz (1) churned the customer’s account (2) executed transactions that were not suitable for the customer and […]

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Edward Jones Discharges Broker For Unauthorized Trading

September 28, 2018  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Edward Alvarez Gonzales of Lakewood Washington a stockbroker formerly registered with Edward Jones has been discharged by the firm on July 10, 2018 based upon accusations that Gonzales violated the firm’s policies by failing to contact customers during the days that he entered trades in their investment accounts. Financial Industry Regulatory Authority (FINRA) Public Disclosure […]

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Stifel Nicolaus Accused Of Unauthorized Trading

Thomas Lee Sickler of Denver Colorado a stockbroker currently registered with Stifel Nicolaus Company Incorporated is the subject of a customer initiated investment related written complaint on July 19, 2018 where the customer requested $45,084.00 in damages supported by accusations that (1) unauthorized trades were executed in the customer’s account and (2) the customer’s investment […]

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Stifel Nicolaus Accused By Investor Of Churning

Marc Efram Sukoneck of Florham Park New Jersey a stockbroker formerly employed by Stifel Nicolaus Company is the subject of a customer initiated investment related written complaint on September 22, 2017 where the customer sought $32,500.00 in damages founded on accusations that Sukoneck (1) placed the customers in equities that were not appropriate for them […]

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Edward Jones Discharges Broker For Unauthorized Trading

September 27, 2018  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Thomas S. Martin of Santa Fe New Mexico a stockbroker formerly registered with Edward Jones has been discharged from the firm on July 28, 2017 based upon accusations that he exercised discretion in customer accounts in violation of Edward Jones’ policy. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Martin has been identified in […]

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Ameriprise Financial Broker In Trading Investigation

September 27, 2018  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Randall William Hunt of Toledo Ohio a stockbroker formerly employed by Ameriprise Financial Services Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon accusations that he ignored requests from FINRA concerning his business activities. Case No. 2017053653401 (Dec. 11, 2017). FINRA Public Disclosure reveals that […]

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Edward Jones Broker Investigated For Unauthorized Trading

September 27, 2018  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Donald Logan of Silverdale Washington a stockbroker formerly employed by Edward Jones is referenced in a Financial Industry Regulatory Authority (FINRA) investigation into accusations that he effected unauthorized trades in a customer’s account. Case No. 2015046378601 (July 20, 2018). FINRA Public Disclosure reveals that a determination had been made by FINRA that an enforcement action […]

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Investor Accuses Ameriprise Of Unauthorized Trading

Justin A. Parker of Schaumburg Illinois a stockbroker currently employed by Ameriprise Financial Services, Inc. is referenced in a customer initiated investment related complaint where the customer requested $16,977.87 in damages founded on accusations that unauthorized TFCVX trades effected in the customer’s account in March of 2014 that the customer did not authorize. Financial Industry […]

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Wells Fargo Broker Hit By FINRA For Unauthorized Trading

Joseph Frederick Eschleman of Sacramento California a stockbroker formerly registered with Wells Fargo Clearing Services LLC has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Eschleman executed unauthorized trades in customer accounts. Letter of Acceptance Waiver and Consent No. […]

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Garden State Broker Fined For Unauthorized Trading

September 12, 2018  |   Posted by :   |   Boilerroom, Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Jonathan William Iraggi of Red Bank New Jersey a stockbroker formerly registered with Garden State Securities Inc. has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Iraggi traded in a customer’s account without authorization. Letter of Acceptance Waiver and […]

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Edward Jones Accused by Investors Of Unauthorized Trading

Larry Eugene King II of Kalkaska Michigan a stockbroker currently employed by Edward Jones is the subject of a customer initiated investment related written complaint on November 24, 2017 where the customer requested damages estimated to exceed $5,000.00 based upon allegations that unauthorized government debt trades had been effected by King in the customer’s investment […]

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Edward Jones Discharges Broker For Unauthorized Trading

September 12, 2018  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Eli Jacob Sanchez of San Antonio Texas a stockbroker registered with Edward Jones has been discharged by the firm on February 27, 2017 supported by allegations that Sanchez (1) placed trades in customer accounts on an unauthorized basis (2) neglected to disclose commissions charged to customers and (3) failed to be forthcoming to compliance personnel […]

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Investor Blames Hornor Townsend For Unauthorized Trading

September 12, 2018  |   Posted by :   |   Annuity Schemes, Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Clay Gavin Erickson of Salt Lake City Utah a stockbroker formerly employed by Hornor Townsend Kent Inc. is referenced in a customer initiated investment related written complaint which settled for $13,006.40 on March 12, 2018 based upon allegations that the customer’s assets were allocated in sub-accounts of a variable annuity without the customer’s knowledge. Financial […]

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Investors Sue Morgan Stanley For Bad UIT Investments

Jonathan William Lonske of Boston Massachusetts a stockbroker currently registered with Morgan Stanley is referenced in a customer initiated investment related written complaint on October 3, 2017 where the customer requested unspecified damages supported by allegations that between 2009 and 2016, Lonske executed unsuitable closed-end funds, structured products and unit investment trust transactions in the […]

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LPL Financial Broker Suspended For Unauthorized Trading

September 12, 2018  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Richard Hiroyuki Yada of Little Rock Arkansas a stockbroker formerly registered with LPL Financial LLC 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 engaged in unauthorized trading in customer accounts. Letter of Acceptance Waiver […]

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FINRA Investigates Morgan Stanley Broker For Unauthorized Trading

August 25, 2018  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Stewart Clinton Malloy of Riverhead New York a stockbroker formerly registered with Morgan Stanley is the subject of a Financial Industry Regulatory Authority (FINRA) Wells Notice in which FINRA has made a preliminary determination for Malloy to face disciplinary action for failing to testify in a FINRA investigation in possible violation of FINRA Rules 2010 […]

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Wells Fargo Stockbroker Fired For Unauthorized Trading

August 17, 2018  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Scott Alan Kaufman a stockbroker formerly registered with Wells Fargo Clearing Services LLC has been terminated from employment on June 30, 2017 based upon allegations that Kaufman failed to communicate with customers about trades prior to executing them in their accounts. Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that on April 26, 2018, a […]

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Signator Accused By Investors Of Unauthorized Trading

August 17, 2018  |   Posted by :   |   Annuity Schemes, Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Judith Ann Tengler of Broadview Heights Ohio a stockbroker formerly registered with Signator Investors Inc. is referenced in a customer initiated investment related written complaint that was settled on March 1, 2017 to resolve allegations that Tengler effected trades in the customer’s variable annuity account without procuring the customer’s authorization. Financial Industry Regulatory Authority (FINRA) […]

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FINRA Fines Transamerica Broker For Unauthorized Trading

August 17, 2018  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Roy Aurelio Gaytan of Thousand Oaks California a stockbroker formerly registered with Transamerica Financial Advisors Inc. has been fined $15,000.00 and suspended for eight months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he (1) failed notify the firm about his exercise of discretion […]

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Ameriprise Broker Admits To Unauthorized Trading

Eric Steven Korhut of Johnstown Pennsylvania a stockbroker formerly registered with Ameriprise Financial Services Inc. has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he executed unauthorized trades in customer accounts. Letter of Acceptance Waiver and Consent No. 2016051348101 […]

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Merrill Lynch Broker Suspended For Unauthorized Trading

August 13, 2018  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Ethan De Naray of Minneapolis Minnesota a stockbroker formerly employed by Merrill Lynch Pierce Fenner Smith Inc. has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he improperly exercised discretion in customer accounts and mismarked customer order tickets. Letter […]

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Ameriprise Broker Fined By FINRA For Unauthorized Trading

Leslie George Markus, Jr., of Center Valley, Pennsylvania, a stockbroker formerly registered with Ameriprise Financial Services, Inc. has been fined $10,000.00 and suspended for two years from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity according to a FINRA Office of Hearing Officers Hearing Panel Decision containing findings that Markus effected […]

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Customer Brings Arbitration Against RBC Capital For Unauthorized Trading

Ken Anthony Carter of Seattle Washington a stockbroker currently employed by RBC Capital Markets LLC is referenced in a customer initiated investment related arbitration claim where the customer requested $450,000.00 in damages founded on allegations that stock trades had been executed in the customer’s investment account between 2014 and 2015 that were neither suitable nor […]

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National Securities Corp Accused Of Unauthorized Trading

July 31, 2018  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Thomas Edison Kelly Jr. of New York New York a stockbroker formerly employed by National Securities Corporation is the subject of a customer initiated investment related written complaint on March 18, 2016 in which the customer requested damages estimated to exceed $5,000.00 in damages based upon allegations that over-the-counter equities trades were effected in the […]

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Investors Accuse Oppenheimer Of Unauthorized Trading

July 16, 2018  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Larry Shatzkamer of Jericho New York a stockbroker formerly employed by Oppenheimer Co. Inc. is referenced in a customer initiated investment related written complaint on April 11, 2018 in which the customer requested damages estimated to exceed $5,000.00 supported by accusations that stock transactions were effected in the customer’s account that were neither suitable for […]

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Investors Accuses Wells Fargo Of Unauthorized Trading

Darrell Brian Hesford of Escondido California a stockbroker currently registered with Wells Fargo Clearing Services LLC is referenced in a customer initiated investment related written complaint on April 23, 2018 where the customer requested damages estimated to exceed $5,000.00 supported by allegations that exchange traded funds were placed in the customer’s account without the customer’s […]

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WFG Stockbroker Admits to Unauthorized Trading

July 16, 2018  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Patricia Gail Peterson of Henderson Nevada a stockbroker formerly employed by WFG Investments Inc. 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 effected trades in customer accounts without written authorization. Letter of Acceptance Waiver and Consent No. […]

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PNC Investments Stockbroker Fined For Mismarking Trades

July 16, 2018  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Daniel B. Irving of Erie Pennsylvania a stockbroker formerly registered with PNC Investments has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he mismarked customer’s investment orders as having been unsolicited. FINRA Enforcement Action No. 2014043146201 (July 12, 2018). […]

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RBC Capital Broker Suspended For Unauthorized Trading

July 12, 2018  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Dennis Anthony Contrestano of Fresno California a stockbroker formerly registered with RBC Capital Markets LLC has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he executed trades in customer accounts without authorization. Letter of Acceptance Waiver and Consent No. […]

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Investors Sue SW Financial For Unauthorized Trading

Dimitrios Aivaliotis of Melville New York a stockbroker currently employed by SW Financial is the subject of a customer initiated investment related arbitration claim in which the customer requested $44,000.00 in damages supported by accusations that (1) contractual obligations to the customers had been breached (2) unauthorized trades had been effected (3) transactions were not […]

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RBC Stockbroker Terminated For Unauthorized Trading

June 30, 2018  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

David Roger Hirons of La Jolla California a stockbroker formerly registered with RBC Capital Markets LLC has been terminated from the firm on April 6, 2018 founded on allegations that Hirons executed orders in violation of the firm’s policy. Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that Hirons is referenced in three more customer […]

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Wells Fargo Broker Fired For Unauthorized Trading

June 30, 2018  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Daniel Paul Motherway of Fairfield New Jersey a stockbroker formerly employed by Wells Fargo Advisors LLC has been terminated on November 6, 2015 based upon allegations that Motherway violated the firm’s policies by engaging in unauthorized trading. FINRA Public Disclosure additionally confirms that Motherway was subsequently registered with UBS Financial Services Inc. on November 6, […]

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FINRA Fines Network 1 Broker For Unauthorized Trading

June 30, 2018  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Will S. Schneider Henriquez of Brooklyn New York a stockbroker formerly registered with Network 1 Financial Securities Inc. 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 he mismarked customer order tickets and placed unauthorized trades in customers’ accounts. […]

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Citigroup Broker Barred In Investigation

James Patrick Acosta of New York New York a stockbroker formerly employed by Citigroup Global Markets Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he failed to cooperate with FINRA in an investigation into accusations of Acosta’s outside business activities. […]

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Ohio Tells Brian Kelly to Stop

June 25, 2018  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Brian Patrick Kelly of Canton Ohio a stockbroker formerly employed by LPL Financial LLC has been ordered by the State of Ohio Division of Securities to cease and desist engaging in conduct violative of Ohio Securities Act based upon consenting to findings that Kelly traded in a customer’s account without authorization. In the Matter of: […]

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Hornor Townsend Discharges Broker For Unauthorized Trading

June 25, 2018  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Benjamin Kevin Chappell of Salt Lake City Utah a stockbroker registered with Hornor Townsend Kent Inc. has been discharged by the firm on January 12, 2018 founded on allegations of unauthorized trading having been effected in a customer’s account. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Chappell is referenced in two customer initiated […]

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Ameriprise Broker Investigated For Misconduct

June 21, 2018  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Robert Neal Kampfer of Woodbury New York a stockbroker employed by Ameriprise Financial Services Inc. is the subject of a Financial Industry Regulatory Authority (FINRA) investigation commencing on February 16, 2018 concerning accusations of Kampfer violating (1) FINRA Rules 2010 and 2111 by effecting unsuitable mutual fund trades in customer accounts and (2) FINRA Rule […]

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Customer Blames Wells Fargo For Unauthorized Trading

June 21, 2018  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Daniel Todd Tompkins of Boca Raton Florida a stockbroker currently employed by Wells Fargo Clearing Services LLC is referenced in a customer initiated investment related written complaint on February 20, 2018 where the customer sought $200,000.00 in damages based upon accusations that on February 28, 2017, equities were sold from the customer’s investment portfolio without […]

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Raymond James Broker Barred For Hindering Investigation

June 21, 2018  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

James Edward Lyons of Shreveport Louisiana a stockbroker formerly employed by Raymond James & Associates, Inc. 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 allegation of his unauthorized trading in customer accounts. Letter of Acceptance […]

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FINRA Lawyers Sue Ameriprise For Unauthorized Trading

June 12, 2018  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Bradley Leo Renberg of West Des Moines Iowa a stockbroker currently employed by Ameriprise Financial Services is referenced in a customer initiated investment related written complaint on February 9, 2018 in which the customer sought $5,000.00 in damages based upon allegations that in 2017, Renberg effected unauthorized trades in the customer’s account and made investment […]

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FINRA Arbitration Lawyers Sue Stifel Nicolaus Company For Unauthorized Trading

Todd Michael Niedermeyer of San Francisco California a stockbroker currently employed by Stifel Nicolaus Company Incorporated is the subject of a customer initiated investment related written complaint on February 22, 2018 in which the customer requested damages estimated to exceed $5,000.00 based upon accusations that on November 9, 2016, Niedermeyer executed unauthorized sales of stock […]

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FINRA Bars Ameriprise Stockbroker For Unauthorized Trading

June 12, 2018  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Maria Nancy Tamburro of Florham Park New Jersey a stockbroker formerly registered with Ameriprise Financial Services Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that she effected unauthorized trades in customer accounts and failed to timely cooperate with FINRA’s investigation into […]

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Oklahoma Regulator Seeks Bar Of Arvest Stockbroker

May 31, 2018  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

William David Lancaster of Wagoner Oklahoma a stockbroker formerly registered with Arvest Wealth Management is the subject of a State of Oklahoma Department of Securities Amended Enforcement Division Recommendation seeking that Lancaster be barred for two years founded on accusations that he engaged in discretionary trading and falsified his application for agent and investment advisor […]

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First Allied Discharges Broker For Unauthorized Trading

Kevin James Palmer of Scottsdale Arizona a stockbroker formerly registered with First Allied Securities Inc. has been discharged by the firm on February 6, 2018 founded on accusations that Palmer violated the firm’s policies by placing trades in two customer accounts on a discretionary basis without first procuring written authorization from the customer and First […]

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FINRA Bars Western International Broker For Misconduct

Dennis Albert Mehringer Jr. of Passadena California a stockbroker formerly registered with Western International Securities Inc. has been fined $50,000.00 and barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity according to a FINRA Office of Hearing Officers Extended Hearing Panel Decision containing findings that Mehringer made unsuitable recommendations to […]

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FINRA Bars Montage Stockbroker For Unauthorized Trading

Harold Francis Couglar of San Diego California a stockbroker formerly registered with Montage Securities LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he (1) failed to report his discretionary trading of customer accounts held away from Montage Securities and (2) […]

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StockCross Broker Barred For Obstructing Investigation

May 31, 2018  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Herbert Voss Jr. of Beverly Hills California a stockbroker registered with StockCross Financial Services Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he failed to cooperate with FINRA in an investigation into accusations of his unauthorized trading in customer accounts. […]

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