Unauthorized Trading

Archive | Unauthorized Trading

UBS Financial Broker Fired For Unauthorized Trading

April 10, 2019  |   Posted by :   |   Elder Abuse, Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Thomas Lawrence Huber of Rochester New York a stockbroker formerly registered with UBS Financial Services Inc. has been discharged by the firm on September 12, 2018 supported by allegations that (1) Huber effected unauthorized trades and liquidations in a customer’s account (2) Huber inappropriately placed a customer in an account to generate unapproved compensation (3) […]

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Moorestown Stockbroker Admits To Unauthorized Trading

Farrukh Shazad Kazmi of Moorestown New Jersey a stockbroker currently registered with Berthel Fisher Company Financial Services Inc. has been fined $20,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity according to an Order Accepting Offer of Settlement containing findings that (1) Kazmi made unauthorized trades in customer […]

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Investors Sue Laidlaw Company For Churning

Nicholas Sabellico of Fort Lauderdale Florida a stockbroker formerly registered with Laidlaw Company (UK) Ltd. is the subject of a customer initiated investment related arbitration claim in which the customer requested $25,413.00 in damages supported by accusations that between 2015 and 2017: (1) transactions executed in the customer’s account were in no way appropriate for […]

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RBC Capital Sued By Investors For Unauthorized Trading

James Frederick Sowerine of Billings Montana a stockbroker currently employed by RBC Capital Markets LLC is referenced in a customer initiated investment related arbitration claim which was settled for $80,000.00 in damages based upon allegations that (1) Sowerine executed unauthorized trades in the customer’s account and (2) Sowerine inappropriately placed the customer in energy sector […]

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Investors Accuse Morgan Stanley Of Unauthorized Trading

April 10, 2019  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

William Lief Collins (also known as Bill Collins) of Birmingham Michigan a stockbroker currently employed by Morgan Stanley is the subject of a customer initiated investment related written complaint which was resolved for $8,973.25 on November 22, 2016 founded on allegations that unauthorized trades were effected in the customer’s brokerage and variable annuity accounts while […]

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Summit Fires Stockbroker For Unauthorized Activities

April 10, 2019  |   Posted by :   |   Forgery, Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Eric John Zebrauskas of Carmel Indiana a stockbroker formerly employed by Summit Brokerage Services Inc. has been discharged on October 3, 2018 supported by accusations of Zebrauskas causing a customer to furnish signed but blank documents to effect investment transactions. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that this is not the first time […]

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RBC Capital Stockbroker Fired For Unauthorized Transactions

April 10, 2019  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Jannet Siegle Carpien (also known as Jannet Helen Carpien and as Janet Siege Carpien) of Washington District of Columbia a stockstockbroker formerly registered with RBC Capital Markets LLC has been discharged by the firm on August 2, 2018 based upon allegations that Carpien failed to abide by the firm’s policy when she effected an unauthorized […]

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National Securities Stockbroker Admits To Unauthorized Trading

James Bryant Eichner Jr. of New York New York a stockstockbroker formerly registered with National Securities Corporation has been fined $10,000.00 and suspended for forty-five days from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Eichner executed unauthorized trades in a customer’s account. Letter of […]

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Feltl Company Accused Of Unsuitable Investment Strategy

Timothy David O’Brien of Inver Grove Heights Minnesota a stockbroker formerly employed by Feltl Company is the subject of a customer initiated investment related written complaint on December 24, 2018 in which the customer sought $10,000.00 in damages supported by allegations that the customer was inappropriately invested in over-the-counter equities because of those investments failing […]

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Oppenheimer Pays Investor For Unauthorized Trading Claim

March 28, 2019  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Matthew Eric Platnico (also known as Matt Platnico) of New York New York a stockbroker formerly registered with Oppenheimer Co. Inc. is the subject of a customer initiated investment related written complaint which was resolved for $95,690.00 on February 5, 2019 based upon allegations that while Platnico was associated with Oppenheimer: (1) unauthorized options trades […]

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CFD Investments Fires Broker For Churning Customer Accounts

Ziv Ohel of Long Grove Florida a stockbroker formerly employed by CFD Investments Inc. has been discharged on September 6, 2017 based upon accusations from a customer who claimed that (1) unsuitable transactions were executed in the customer’s account (2) fiduciary duties owed to the customer had been breached and (3) trades were placed in […]

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UBS Broker Suspended For Unauthorized Trading

March 15, 2019  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Richard D. Niemann of Sugar Land Texas a stockbroker currently registered with 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 made unauthorized trades in customer accounts. Letter of Acceptance Waiver and Consent No. […]

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Wells Fargo Broker Fired For Trading Dead Person’s Account

March 15, 2019  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Marvin Egorin of Los Angeles California a stockbroker formerly registered with Wells Fargo Clearing Services LLC has been terminated by the firm on January 18, 2018 during the time that Egorin was subject of an internal investigation into allegation that Egorin deliberately permitted liquidations and trades to be placed in a customer’s account after the […]

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FINRA Suspends RBC Capital Broker For Unauthorized Trading

March 15, 2019  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Paul Norman Gershon of Leawood Kansas a stockbroker formerly associated 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 engaged in discretionary trading of customer accounts; conduct violative of FINRA Rules. Letter of […]

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Merrill Lynch Broker Admits To Unauthorized Trading

March 15, 2019  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Michael Brian Holder Jr. (also known as Mike Holder) of Dallas Texas a stockbroker formerly registered with Merrill Lynch Pierce Fenner Smith Incorporated has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings that he effected unauthorized trades in customers’ investment accounts while […]

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Morgan Stanley Broker Suspended For Unauthorized Trading

March 07, 2019  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Kevin C. Yang (also known as Chiagan K. Yang) of Pasadena California 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 a customer’s investment account. Letter of Acceptance Waiver and Consent No. 2017052993601 (Mar. […]

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FINRA Charges Aegis Capital Corp Broker With Fraud

James Bradley Schwartz (also known as Jim Schwartz) of New York New York a stockbroker formerly registered with Aegis Capital Corp. has been charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement in a Complaint alleging that (1) Schwartz excessively traded and churned customers’ accounts and (2) Schwartz engaged in deceptive and fraudulent activities […]

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CUNA Brokerage Services Accused Of Unauthorized Account Liquidation

March 07, 2019  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Todd Douglas Micciche of Portland Oregon a stockbroker currently employed by CUNA Brokerage Services Inc. is referenced in a customer initiated investment related written complaint which was resolved for $57,700.00 in damages on December 14, 2017 based upon accusations that an unauthorized liquidation of the customer’s assets were executed from the customer’s account. Financial Industry […]

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Investors Accuse Stifel Nicolaus Of Fraud

Keith Edwin Downard of Canfield Ohio a stockbroker currently employed by Stifel Nicolaus Company Inc. is the subject of a customer initiated investment related complaint which settled for $51,242.45 in damages on April 8, 2016 supported by allegations that misrepresentations had been made to the customer concerning the risks of mortgage-related asset-backed debt investments purchased […]

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Investors Sue Network 1 For Breach Of Fiduciary Duty

Michael Scott Desando of Red Bank New Jersey a stockbroker currently employed by Network 1 Financial Securities Inc. is referenced in a customer initiated investment related arbitration claim in which the customer requested $70,000.00 in damages founded on accusations that fiduciary duties owed to the customer were breached with regard to common or preferred stock […]

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Ameriprise Discharges Broker For ETF Misconduct

Steven Michael Roffman of Jacksonville Florida a stockbroker formerly employed by Ameriprise Financial Services Inc. has been discharged by the firm on March 22, 2016 supported by accusations that (1) Roffman inappropriately solicited one or more customer’s investments in leveraged and inverse ETF investments (2) Roffman traded in customer accounts without written authorization from the […]

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National Securities Sued For Breach Of Fiduciary Duty

Michael Fasciglione of Mineola New York a stockbroker formerly employed by National Securities Corporation is referenced in a customer initiated investment related arbitration claim which was settled for $467,000.00 in damages supported by allegations that (1) fiduciary duties owed to the customer had been breached and (2) real estate security transactions effected in the customer’s […]

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JJB Hillard WY Lyons Broker Admits to Unauthorized Trading

Christopher Duke Bennett of Louisville Kentucky a stockbroker formerly employed by J.J.B. Hillard, W.L. Lyons 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 Bennett effected unauthorized transactions in accounts of J.J.B. Hillard, W.L. Lyons LLC customers. Letter […]

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Waddell Reed Broker Admits To Unauthorized Trading

Donald Logan of Silverdale Washington a stockbroker formerly registered with Waddell Reed and Edward Jones has been fined $25,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that (1) Logan traded in customer’s investment accounts without authorization (2) Logan exercised discretion in customer’s […]

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Wells Fargo Advisors Broker Barred By SEC For Fraud

Barbara Ann Endres of Grand Junction Colorado a stockbroker formerly registered with Wells Fargo Advisors LLC and investment adviser representative of Lifetime Wealth Advisors LLC has been barred by Securities and Exchange Commission (SEC) in all capacities according to an Order Instituting Administrative Proceedings Pursuant to Investment Advisers Act of 1940 Section 203(f) containing findings […]

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Investors Sue FSC Securities For Unauthorized Trading

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

Barry George Hartman of Missoula, Montana a stockbroker formerly employed by FSC Securities Corporation is referenced in a customer initiated investment related arbitration claim where the customer sought damages estimated to exceed $5,000.00 based upon allegations that Hartman executed unauthorized sales of securities to customers of the firm. Financial Industry Regulatory Authority (FINRA) Arbitration No. […]

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FINRA Bars Spartan Capital Broker In Investigation

Caeron Arlington McClintock of New York New York a stockbroker formerly registered with Spartan Capital Securities LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon accusations that McClintock failed to provide FINRA with information that was requested of him. Case No. 2016051468601 (Nov. 6, 2017). […]

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Viewtrade Securities Fires Broker For Unsuitable Recommendations

Keith Scott Mency of Jersey City New Jersey a stockbroker formerly employed by Viewtrade Securities Inc. since September 30, 2015 has been discharged by the firm on June 2, 2016 founded on accusations that Mency effected unsuitable trades in customer accounts. This is not the first time that Mency has been terminated by a brokerage […]

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Arive Sued By Investors For Unsuitable Investments

Mirsad A. Muharemovic of Coram New York a stockbroker currently employed by Arive Capital Markets is referenced in a customer initiated investment related arbitration claim which was settled for $1,000,000.00 in damages founded on allegations that stock transactions executed in the customer’s account were not suitable for the customer given the customer’s objectives for investing. […]

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Wilmington Capital Broker Fined For Outside Business Activities

Thomas John Lisa Jr. of New York New York a stockbroker currently employed by Wilmington Capital Securities LLC has been fined $7,500.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon Lisa’s consent to findings that he engaged in an outside business activity without disclosing it to […]

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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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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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