Unauthorized Trading

Archive | Unauthorized Trading

FINRA Sanctions Paulson Stockbroker For Unauthorized Trading

Michael Patrick Nixon has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that Nixon executed trades in accounts of Paulson Investment Company customers without written authorization from either customers or the securities broker dealer. Letter of Acceptance Waiver and Consent No. 2018056269002 […]

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Investors Sue Wedbush For Unauthorized Trading

Mark Fred Augusta of Solana Beach California a stockbroker formerly registered with Wedbush Securities is referenced in a customer initiated investment related arbitration claim in which the customer requested $398,832.00 in damages based upon accusations that (1) bond trades effected by Augusta failed to be suitable for the customer and (2) unauthorized transactions were executed […]

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Investors Sues Legacy Asset Securities For Stockbroker Ponzi Scheme

William Andrew Hightower of Houston Texas a stockbroker formerly registered with Legacy Asset Securities Inc. is referenced in a customer initiated investment related arbitration claim where the customer sought unspecified damages supported by accusations that (1) the customer’s account had been liquidated by Hightower without the customer’s authorization and (2) funds were improperly used to […]

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FINRA Sanctions PFS Stockbroker For Violating Suspension

September 13, 2019  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Daniel William Staudacher of Dallas Texas a stockbroker formerly registered with PFS Investments Inc. has been fined $10,000.00 and suspended for two months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Staudacher violated the terms of a previously imposed FINRA suspension for unauthorized trading […]

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Cova Capital Sued By Investors For Fraud

Michael Lawrence Oromaner of Syosset New York a stockbroker formerly employed by Cova Capital Partners LLC is the subject of a customer initiated investment related arbitration claim where the customer was awarded $75,672.00 in damages based upon Oromaner being found liable on the customer’s claims including (1) breach of fiduciary duty (2) breach of contract […]

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FINRA Bars Raymond James Stockbroker For Obstruction

Stefan Anton Pastor of Fort Lauderdale Florida a stockbroker formerly registered with Raymond James 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 an investigation into allegations of him: (1) effecting trades in a […]

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Northwestern Mutual Investment Services Terminates Stockbroker For Alleged Misappropriation

Daniel Joe Wilson of Columbus Junction Iowa a stockbroker formerly registered with Northwestern Mutual Investment Services has been terminated on February 5, 2018 based upon allegations of (1) Wilson engaging in unauthorized activities in a customer’s account and (2) Wilson engaging in unapproved activities during a time that he was suspended by Financial Industry Regulatory […]

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Woodbury Financial Stockbroker Barred By Regulator

Robert Hayes Hoffman of Indianapolis Indiana a stockbroker formerly registered with Woodbury Financial Services has been barred from being a stockbroker in the State of Indiana according to an Indiana Securities Division Order based upon findings of Hoffman being expelled from a self-regulatory organization for misconduct in the securities industry. Case No. 18-0001 SB (Jan. […]

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Spartan Capital Sued For Breach Of Fiduciary Duty

Robert John Murray of New York New York a stockbroker formerly registered with Spartan Capital Securities LLC is referenced in a customer initiated investment related arbitration claim in which ten customers collectively requested $6,645,956.00 in damages based upon allegations that (1) fiduciary duties owed to customers had been violated (2) misrepresentations had been made concerning […]

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Madison Avenue Securities Accused Of Excessive Trading

David Lloyd Barber of San Diego California a stockbroker formerly registered with Madison Avenue Securities LLC is referenced in a customer initiated investment related written complaint which was settled on August 1, 2018 for $22,500.00 in damages founded on allegations that (1) trades were executed in the customer’s account in an excessive manner and (2) […]

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Edward Jones Stockbroker Sanctioned For Unauthorized Trading

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

Scott Richard Riley of Hooksett New Hampshire a stockbroker formerly employed by Edward Jones has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that (1) Riley exercised discretion in customer accounts without having any written authorization (2) Riley executed trades without customers’ consent. […]

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RBC Sued By Investors For Misrepresentation

John Scott Simpson of Hunt Valley Maryland a stockbroker formerly registered with RBC Capital Markets LLC is referenced in a customer initiated investment related arbitration claim which was resolved for $27,500.00 in damages founded on accusations that between 2012 and 2016: (1) false or misleading statements had been made concerning the performance of the customer’s […]

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Thrivent Stockbroker Sanctioned For Unauthorized Trading

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

Arlyn Roy Stokesbary of Slayton Minnesota a stockbroker formerly registered with Thrivent Investment Management Inc. has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that Stokesbary executed unauthorized trades in customer accounts during the period in which he was associated with the […]

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Aegis Capital Sued By Investors For Misconduct

Michael Christopher Venturino of Garden City New York a stockbroker formerly registered with Aegis Capital Corp is the subject of a customer initiated investment related arbitration claim which was settled for $300,668.16 in damages based upon accusations that (1) investment recommendations made to the customer failed to be suitable (2) unauthorized trades were effected in […]

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Investors Accuse Morgan Stanley Of Unauthorized Trading

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

Peter Michael Riley of Plano Texas a stockbroker formerly registered with Morgan Stanley is the subject of a customer initiated investment related complaint which was resolved for $20,000.00 on July 19, 2018 based upon accusations that unauthorized stock trades were executed in the customer’s account by Riley between March of 2013 and May of 2018. […]

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FINRA Sanctions Paulson Stockbroker For Unauthorized Trading

Michael Patrick Nixon of Tampa Florida a stockbroker currently registered with Paulson Investment Company LLC has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that Nixon executed trades in accounts of Paulson Investment Company customers without written authorization from either customers or […]

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Wells Fargo Stockbroker Sanctioned For Unauthorized Trading

August 27, 2019  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Stephen Allen Kelbick of Villanova Pennsylvania 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 founded on findings that Kelbick effected unauthorized trades in customer accounts while registered with Wells Fargo. Letter of Acceptance Waiver […]

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FINRA Charges Financial West Stockbroker With Churning

Daniel Gordon Maughan of Los Angeles California a stockbroker registered with Financial West Group has been charged in a Complaint brought by Financial Industry Regulatory Authority (FINRA) Department of Enforcement alleging that (1) Maughan churned a customer’s investment account and (2) Maughan made unsuitable trades while he was employed by Financial West Group. Department of […]

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Alexander Capital Stockbroker Barred By SEC For Fraud

Rocco Roveccio of Staten Island New York a stockbroker registered with Alexander Capital L.P. has been barred from being a stockbroker or investment adviser or otherwise associating with any securities broker dealers or investment advisories according to a Securities and Exchange Commission (SEC) Order Instituting Administrative Proceedings supported by allegations that (1) Roveccio effected unauthorized […]

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Worden Stockbroker Sanctioned For Unauthorized Transactions

August 16, 2019  |   Posted by :   |   Boilerroom, Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Yousuf Saljooki (also known as Joe Saljooki) of Melville New York a stockbroker employed by Worden Capital Management LLC has been fined $20,000.00 and suspended for nine months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based in part on findings that (1) Saljooki gave customers investment advice and sold […]

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Investors Accuse Child Of Providing Bad Investment Advice

Michael Lee Child of Draper Utah a stockbroker registered with H. Beck Inc. is the subject of a customer initiated investment related complaint on April 24, 2018 in which the customer requested $20,000.00 in damages founded on accusations that Child advised the customer to purchase investments which failed to be appropriate for the customer. Financial […]

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Investors Accuse Edward Jones Of Providing Bad Investment Advice

Jon Timothy Vanslooten of Toledo Ohio a stockbroker registered with Edward Jones is the subject of a customer initiated investment related written complaint which was settled on September 10, 2018 to resolve allegations that Vanslooten placed the customer in Energy Transfer Partners LP – a direct investment which was unsuitable for the customer. FINRA Public […]

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Joseph Gunnar Stockbroker Sanctioned For Unauthorized Trading In Dead Client’s Account

August 16, 2019  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Steve Baptist of New York New York a stockbroker registered with Joseph Gunnar Co. 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 (1) Baptist executed unauthorized trades in customers’ accounts and (2) Baptist exercised discretion in customer […]

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Investors Sue LPL Financial For Fraud

Gary Alan Richman of Pikesville Maryland a stockbroker employed by LPL Financial LLC is the subject of a customer initiated investment related arbitration claim which was resolved for $232,500.00 in damages founded on allegations that between March of 2013 and April of 2018: (1) the investment portfolio selected for the customer was unsuitable given the […]

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IAA Stockbroker Sanctioned For Unauthorized Trading

Michael Patrick Spolar of Orlando Florida a stockbroker formerly registered with International Assets Advisory LLC has been suspended for fifteen months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that (1) Spolar effected trades in the investment accounts of International Assets Advisory customers without authorization from either […]

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Investors Sue Oppenheimer For Churning

Luigi Edward Mancusi (also known as Lou Mancusi) of Lake Forrest Illinois a stockbroker formerly registered with Oppenheimer Co. Inc. is the subject of a customer initiated investment related arbitration claim which was resolved for $25,000.00 in damages based upon accusations that (1) Mancusi churned the customer’s account (2) Mancusi executed unauthorized trades and (3) […]

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FINRA Fines Morgan Stanley Stockbroker For Settling Away

Eric Nichols of Rolling Hills California a stockbroker formerly employed by 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 Nichols resolved a customer’s investment related dispute outside the firm’s auspices. Letter of Acceptance Waiver and Consent […]

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Paulson Stockbroker Sanctioned By FINRA For Unauthorized Trading

Matthew David Albers of Vienna Virginia a stockbroker formerly registered with Paulson Investment Company LLC has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that trades were placed by Albers in customer accounts without authorization. Letter of Acceptance Waiver and Consent No. […]

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FINRA Bars Worden Capital Stockbroker In Investigation

Joseph Francis Valdini of Garden City New York a stockbroker formerly employed by Worden Capital Management LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by accusations that Valdini failed to respond to a request FINRA made regarding Valdini’s activities which possibly related to his disclosures […]

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Four Points Stockbroker Barred By SEC For Churning

Daniel Terry Fischer of New York New York a stockbroker formerly employed by Four Points Capital Partners has been barred from being a stockbroker or investment adviser as well as associating with securities broker dealers or investment advisories according to a Securities and Exchange Commission (SEC) Order Instituting Administrative Proceedings pursuant to Securities Exchange Act […]

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FINRA Charges LPL Stockbroker In Unauthorized Trading Investigation

August 11, 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 has been charged by Financial Industry Regulatory Authority (FINRA) in a Complaint alleging that Miller failed to testify before FINRA personnel during an investigation into accusations of Miller’s unauthorized trading in customers’ brokerage accounts when he was employed by LPL […]

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Wells Fargo Stockbroker Sanctioned For Trading Dead Customer’s Account

August 02, 2019  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Michael David Garris of Los Angeles California a stockbroker formerly employed by Wells Fargo Clearing Services LLC has been fined $5,000.00 and suspended for one year from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that Garris effected trades in the account of a Wells Fargo customer who […]

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LPL Financial Sued By Investors For Churning

Lance R. Shaw of Wynnewood Pennsylvania a stockbroker formerly employed by LPL Financial LLC is the subject of a customer initiated investment related arbitration claim which settled for $65,000.00 in damages founded on accusations that (1) unauthorized trades were executed in the customer’s account (2) trades were effected in an excessive manner (3) misrepresentations had […]

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FINRA Sanctions NBC Stockbroker For Unauthorized Trading

Brian Gregory DiJulio of Bellevue Washington a stockbroker formerly registered with NBC 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 (1) DiJulio executed unauthorized trades in customer accounts while employed by NBC Securities Inc. and (2) […]

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Investors Sue National Securities Corp For Bad Investment Advice

William Francis Gillis of Seattle Washington a stockbroker formerly registered with National Securities Corporation is referenced in a customer initiated investment related arbitration claim which settled for $514,600.00 in damages based upon accusations that Gillis gave the customer bad investment recommendations particularly concerning the common or preferred stocks held in the customer’s account while Gillis […]

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Regulator Bars Titus Rockefeller Stockbroker For Fraud

Andre Vincent LaBarbera of Dix Hills New York a stockbroker formerly registered with Titus Rockefeller LLC has been barred by Florida Office of Financial Regulation based upon findings that (1) LaBarbera churned customer accounts to generate commissions (2) LaBarbera effected trades that failed to be suitable for customers given their investment profiles (3) LaBarbera utilized […]

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Raymond James Stockbroker Sanctioned For Unauthorized Trading

John Hardin Alexander of Athens Georgia a stockbroker formerly registered with Raymond James Associates Inc. has been fined $7,500.00 and suspended for six months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that (1) Alexander effected trades in a customer’s accounts without obtaining permission from the customer […]

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FINRA Sanctions LPL Stockbroker For Unauthorized Trading

July 23, 2019  |   Posted by :   |   Stockbroker Fraud News, Suitability, Unauthorized Trading   |   0 Comments

Robert Scott Davis (also known as Robert Scott David) a stockbroker formerly employed by LPL Financial LLC has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that (1) Davis engaged in unauthorized trades in the accounts of LPL Financial customers and (2) […]

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Investors Sue Legend Securities For Securities Fraud

Bernardo Misseri of Staten Island New York a stockbroker formerly registered with Legend Securities Inc. has been ordered by a Financial Industry Regulatory Authority (FINRA) Arbitration Panel to pay a customer $110,622.95 in compensatory damages and $629,241.78 in punitive damages based upon the Panel finding that (1) Misseri negligently transacted in the customer’s account (2) […]

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Tutus Rockefeller Stockbroker Barred For Securities Fraud

Antonio Costanzo of Chesapeake Virginia a stockbroker formerly employed by Titus Rockefeller LLC (also known as TR Capital Group LLC) has been fined $10,000.00 and barred by Florida Office of Financial Regulation according to an Order founded on accusations that (1) Costanzo engaged in fraudulent investment transactions (2) Costanzo executed trades on margin without having […]

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RBC Capital Sued By Investors For Churning

July 23, 2019  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Joseph Henry Murphy III of Madison Wisconsin a stockbroker formerly employed by RBC Capital Markets LLC is referenced in a customer initiated investment related written complaint which was resolved for more than $5,000.00 in damages on August 11, 2017 based upon allegations that (1) trades were executed in the customer’s accounts on an excessive basis […]

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Aegis Capital Sued By Investors For Unauthorized Trading

Nick Eugene Son of New York New York a stockbroker currently employed by Aegis Capital Corp. is referenced in a customer initiated investment related arbitration claim where the customer sought $224,968.00 in damages supported by allegations that (1) investment recommendations made to the customer were not suitable and (2) unauthorized trades had been executed in […]

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Investors Blame Ameriprise Financial For Bad Investment Advice

Sof New York New York a stockbroker formerly registered with Ameriprise Financial Services Inc. is referenced in a customer initiated investment related written complaint on January 2, 2018 where the customer sought $97,140.00 in damages based upon allegations that the customer was placed into unsuitable annuity products between 2012 and 2016. Financial Industry Regulatory Authority […]

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Wells Fargo Fires Stockbroker For Unauthorized Trading

Marco Fragnito of Laguna Hills California a stockbroker formerly employed by Wells Fargo Advisors Financial Network LLC has been discharged by the firm on February 2, 2018 founded on allegations that Fragnito executed trades in the accounts of Wells Fargo customers on a discretionary basis when this type of trading was not authorized by the […]

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American Capital Sued By Investors For Negligence

Timothy Vincent Longo of Hauppauge New York a stockbroker currently registered with American Capital Partners LLC is the subject of a customer initiated investment related arbitration claim which was resolved for $43,000.00 in damages founded on allegations that (1) Longo made unsuitable stock trades in the customer’s account (2) Longo breached his contractual obligations (3) […]

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Aegis Capital Sued By Investors For Unauthorized Trading

Jonathan Edward Rago of Melville New York a stockbroker formerly employed by Aegis Capital Corp. is the subject of a customer initiated investment related arbitration claim which was resolved for $74,787.96 in damages supported by allegations that (1) investment recommendations made to the customer were not suitable and (2) unauthorized trades were executed in the […]

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Investors Sue Wells Fargo Advisors For Bad Investment Advice

Matthew Christopher Maczko of Oak Brook Illinois a stockbroker formerly employed by Wells Fargo Advisors LLC is referenced in a customer initiated investment related arbitration claim in which the customer requested damages estimated to exceed $500,000.00 in damages founded on accusations that Maczko gave the customer bad investment recommendations concerning the securities held in the […]

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FINRA Sanctions Wedbush Stockbroker For Unauthorized Trading

William Mark Heiden of Newport Beach California a stockbroker formerly registered with Wedbush Securities Inc. has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity according to an Office of Hearing Officers Order Accepting Offer of Settlement containing findings that Heiden executed unauthorized trades in accounts […]

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J.D. Nicholas Stockbroker Barred For Failure to Pay FINRA Arbitration Award

Matthew DiGregorio of Syosset New York a stockbroker formerly employed by J.D. Nicholas Associates Inc. has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations of DiGregorio’s failure to comply with paying compensatory damages to a customer after DiGregorio was found liable by a FINRA Arbitrator […]

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Investors Continued to Accuse Alexander Capital Of Misconduct

Jason Vincent Mediate of Staten Island New York a stockbroker formerly registered with Alexander Capital L.P. is the subject of a customer initiated investment related complaint on November 15, 2017 in which the customer requested $38,800.00 in damages supported by accusations that the stock and over-the-counter equities transactions effected in the customer’s account during the […]

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Woodstock Stockbroker Sanctioned For Churning

Joseph Louis Derrico of Staten Island New York a stockbroker formerly employed by Woodstock Financial Group has been fined $5,000.00 and required to pay $101,324.39 in restitution according to a State of Montana Securities Division Order based on accusations of (1) excessive and unauthorized equity trades being effected by Derrico in accounts of Woodstock Financial […]

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UBS Financial Sued By Investors For Master Limited Partnership Sales

Carlos Antonio Rodriguez of Plano Texas a stockbroker formerly registered with UBS Financial Services Inc. is the subject of a customer initiated investment related arbitration claim where the customer sought more than $3,600,000.00 in damages founded on allegations that (1) the customer had been placed into oil and gas master limited partnerships and mutual funds […]

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Independent Financial Group Accused Of Misconduct In Connection With The Sale of REITs

Theodore Hendrickus Franse of Fair Oaks California a stockbroker formerly employed by Independent Financial Group LLC is referenced in a customer initiated investment related written complaint which was settled on August 9, 2018 to resolve accusations of the customer being sold unsuitable real estate investment trust products while Franse was associated with Independent Financial Group […]

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Garden State Securities Sued For Unauthorized Trading

Mary Ann Wise (also known as Mary Ann Bugliaro and as Mary Ann Ricker) of Hackensack New Jersey a stockbroker formerly registered with Garden State Securities Inc. is referenced in a customer initiated investment related arbitration claim which was resolved for $20,000.00 in damages founded on allegations that (1) unauthorized options and equities trades were […]

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Investors Accuse Feltl Company Of Misrepresentation

Bernard Thomas Weber of Minnetonka Minnesota a stockbroker formerly registered with Feltl Company is referenced in a customer initiated investment related written complaint which settled for $120,000.00 on November 21, 2017 based upon allegations that in connection with the customer’s purchase and holding of over-the-counter equities including penny stocks: (1) misrepresentations had been made by […]

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Investors Sues UBS Financial Services For Stockbroker Theft

Michael Roy Blueweiss of Melville New York a stockbroker formerly registered with UBS Financial Services Inc. is the subject of a customer initiated investment related arbitration claim where the customer sought $600,000.00 in damages based upon accusations that between 2014 and 2017: (1) the customer’s funds had been stolen or otherwise misappropriated by Blueweiss (2) […]

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Investors Accuse Worden Capital Management Of Churning

Michael Anthony Valdini of Garden City New York a stockbroker currently registered with Worden Capital Management LLC is the subject of a customer initiated investment related arbitration claim in which the customer requested $2,115,095.00 in damages supported by accusations that (1) unauthorized transactions were effected in the customer’s account (2) transactions executed in the customer’s […]

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Raymond James Stockbroker Admits To Unauthorized Trading

Clifford C. Vatter III of Louisville Kentucky a stockbroker formerly registered with Raymond James Associates Inc. is the subject of an Order issued by the Commissioner of the Commonwealth of Kentucky Department of Financial Institution in which Vatter’s application to employed by International Assets Management LLC was retracted and Vatter consented to not registering as […]

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Investors Sue Wells Fargo For Unauthorized Trading

Robert Thomas Tuffy of East Brunswick New Jersey a stockbroker formerly registered with Wells Fargo Advisors is the subject of a customer initiated investment related arbitration claim which was resolved for $27,500.00 in damages based upon allegations that (1) Tuffy effected unauthorized trades in the customer’s brokerage account (2) Tuffy disregarded the customer’s objectives for […]

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Wells Fargo Accused By Investors Of Excessive Trading

James Coleman McCormick Jr. of Harrisonburg Virginia a stockbroker formerly employed by Wells Fargo Advisors is referenced in a customer initiated investment related written complaint which had been resolved for $15,000.00 on December 5, 2016 based upon accusations that (1) foreign preferred stock and mutual fund trades were effected in the customer’s account in an […]

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HD Vest Stockbroker Sanctioned For Unsuitable Investment Advice

Michael Allen Kamperman of Waco Texas a stockbroker formerly employed by HD Vest Investment Services has been fined $20,000.00 and suspended for eighteen months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that Kamperman poorly advised customers of HD Vest Investment Services in regard to energy sector […]

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Ameriprise Stockbroker Admits To Unauthorized Trading

Steven Michael Roffman of Jacksonville Florida a stockbroker formerly registered with Ameriprise Financial Services Inc. has been fined $7,500.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that (1) Roffman effected transactions in a customer’s account without the customer’s permission and (2) Roffman solicited customer […]

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Capital Portfolio Management Stockbroker Admits to Unauthorized Trading

June 27, 2019  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Charles Louis Laubach (also known as Chuck Laubach) of Baltimore Maryland a stockbroker formerly registered with Capital Portfolio Management 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 Laubach executed transactions in the accounts of Capital Portfolio Management […]

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Securities America Sued By Investors For Fraud

Giustino DeStefano (also known as Justin DeStefano) of Williamsville New York a stockbroker formerly registered with Securities America Inc. is the subject of a customer initiated investment related arbitration claim where the customer sought $1,000,000.00 in damages supported by allegations of (1) violation of FINRA Rules and federal securities laws (2) overconcentration of the customer’s […]

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Investors Sue Wunderlich Securities For Misrepresentation

Michael James Hebner of Flint Michigan a stockbroker formerly employed by Wunderlich Securities Inc. is referenced in a customer initiated investment related arbitration claim which was settled for $15,000.00 in damages founded on allegations that (1) Wunderlich Securities failed to supervise Hebner’s trading in the customer’s account (2) misrepresentations had been made to the customer […]

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Investors Sue Oppenheimer For Securities Fraud

Matthew J. Giannone of Melville New York a stockbroker formerly registered with Oppenheimer Co. Inc. is the subject of a customer initiated investment related arbitration claim which was resolved for $45,000.00 in damages founded on allegations that (1) misrepresentations had been made to the customer (2) the customer’s account was mishandled (3) contractual obligations to […]

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National Securities Corporation Sued For Negligence

Matthew Fleissner of New York New York a stockbroker formerly employed by National Securities Corporation is referenced in a customer initiated investment related arbitration claim in which the customer sought $300,000.00 in damages based upon allegations that (1) there was a breach of the customer’s contract (2) the account was negligently administered (3) fiduciary duties […]

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Regulator Suspends LPL Stockbroker For Wrongful Investment Strategy

Jason N. Anderson of Beaumont Texas a stockbroker formerly registered with LPL Financial LLC has been suspended for three months from being an investment adviser representative in the State of Texas according to a Disciplinary Order issued by the Texas State Securities Board Order containing findings that Andersons provided investors with investment recommendations that were […]

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Aegis Sued By Investors For Unauthorized Trading

Rick John Sande of Melville New York a stockbroker currently employed by Aegis Capital Corp is the subject of a customer initiated investment related arbitration claim where the customer sought $12,334.53 in damages founded on allegations that (1) investment recommendations which had been made to the customer failed to be suitable given the customer’s objectives […]

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Meyers Stockbroker Barred By SEC For Fraud

Jovannie Aquino (also known as John Aquino) a stockbroker formerly registered with Meyers Associates LP (also known as Windsor Street Capital LP) has been barred by Securities and Exchange Commission (SEC) from being a securities broker or investment advisor or otherwise associating with any securities broker dealers or investment advisories according to an Order Instituting […]

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FINRA Suspends Sigma Stockbroker For Unauthorized Trading

June 11, 2019  |   Posted by :   |   Stockbroker Fraud News, Suitability, Unauthorized Trading   |   0 Comments

Curtis Roy Ile of Mt. Carmel Indiana a stockbroker formerly employed by Sigma Financial Corporation has been suspended for six months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon Ile’s consent to findings that (1) Ile exercised discretion in customer accounts without having written authorization from either the […]

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Morgan Stanley Stockbroker Admits To Unauthorized Trading

June 11, 2019  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

David John Strnad of Franklin Tennessee a stockbroker formerly registered with Morgan Stanley has been suspended for eighteen months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings that Strnad effected unauthorized sales and purchases of certificate of deposits in an account owned by a customer of Morgan […]

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Investors Sue Woodstock Financial For Securities Fraud

Barry Michael Kiront of Garden City New York a stockbroker formerly registered with Woodstock Financial Group Inc. is referenced in a customer initiated investment related arbitration claim in which the customer requested $699,000.00 in damages supported by allegations that (1) the customer’s investment transactions were executed in a negligent fashion (2) the customer’s contract with […]

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HD Vest Stockbroker Sanctioned For Unauthorized Trading

Frank H. Kelly of New Cumberland Pennsylvania a stockbroker formerly employed by HD Vest investment Services has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon Kelly’s consent to findings that (1) Kelly exercised discretion in customer accounts without obtaining written authorization and (2) […]

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National Securities Corp Sued By Investor For Negligence

Marc Anthony Arena of Westbury Connecticut a stockbroker formerly employed by National Securities Corporation is referenced in a customer initiated investment related arbitration claim which was settled for $400,000.00 in damages supported by allegations that (1) Arena breached his contractual obligations to the customer (2) Arena negligently transacted in the customer’s account (3) Arena breached […]

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FINRA Bars Global Arena Stockbroker For Failure To Pay Arbitration Award

Richard Edward Bohack of Global Arena Capital Corp has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that Bohack failed to comply with his obligation to pay compensatory damages to a customer who prevailed in a claim containing allegations that Bohack gave bad advice and […]

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FINRA Bars Securities America Stockbroker In Investigation

Michael Anthony Bastardi of Warwick New York a stockbroker formerly employed by Securities America Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on accusations that Bastardi failed to cooperate with a FINRA investigation into allegations that Bastardi hindered a FINRA investigation concerning accusations that (1) […]

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Wunderlich Stockbroker Barred In Investigation

David K. Mallett of Conway Arizona a stockbroker formerly registered with Wunderlich Securities Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by allegations that Mallett disregarded a FINRA inquiry possibly concerning Mallett being discharged from Wunderlich Securities Inc. or Mallett being subject of customer initiated […]

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FINRA Bars First Standard Stockbroker In Investigation

Gabriel Block (also known as Gabe Block) of Red Bank New Jersey a stockbroker formerly registered with First Standard Financial has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by allegations that Block neglected to cooperate with an inquiry FINRA launched into Block’s activities. Case No. 2017052466301 […]

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International Assets Accused Of Unsuitable Investment Recommendations

May 23, 2019  |   Posted by :   |   Churning, Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Gregory Thormann Pease of Hoboken New Jersey a stockbroker formerly employed by International Assets Advisory LLC is referenced in a customer initiated investment related complaint on April 3, 2019 in which the customer requested unspecified damages supported by accusations that (1) the customer was not provided adequate information from Pease concerning the fees charged on […]

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Transamerica Stockbroker Fined $1.5 Million For Unauthorized Trading

Tracy Neal Wengert of Mesa Arizona a stockbroker formerly registered with Transamerica Financial Advisors Inc. is referenced in an Order issued by the Arizona Corporation Commission which revoked Wengert’s securities registration and mandated Wengert pay a $25,000.00 fine and $1,522,400.00 in restitution based upon findings including Wengert’s trading of securities in customers’ accounts without written […]

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Wells Fargo Stockbroker Accused Of Unauthorized Trading

May 23, 2019  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Hossein Amirriahei (also known as Amir Amirriahei and as Riahei Amirriahei) of Los Angeles California a stockbroker formerly employed by Wells Fargo Advisors is the subject of a customer initiated investment related written complaint on May 30, 2017 in which the customer requested $150,000.00 in damages based upon allegations that trades had been executed in […]

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TradingBlock Blamed By Investor For Losses

Joshua David Arnold (also known as Josh Arnold) of Edina Minnesota a stockbroker formerly registered with TradingBlock (also known as AOS Inc. and MoneyBlock) is referenced in a customer initiated investment related written complaint which was resolved for $64,500.00 on October 17, 2017 founded on accusations that the customer suffered unwarranted losses on common or […]

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Massachusetts Sanctions Morgan Stanley Stockbroker For Misconduct

Nordo Mauro Nissi of York Maine a stockbroker formerly registered with Morgan Stanley is the subject of a Consent Order issued by the Commonwealth of Massachusetts Securities Division in which Nissi agreed to be placed on heightened supervision as a condition of maintaining an investment adviser representative registration in the Commonwealth because of (1) Nissi […]

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Woodstock Financial Sued By Investors For Fraud

Michel Rene Lavelanet (also known as Michael Rene Lavelanet) of Garden City New York a stockbroker formerly employed by Woodstock Financial Group Inc. is referenced in a customer initiated investment related arbitration claim where the customer sought $699,000.00 in damages based upon accusations that (1) the customer’s account was mishandled by Lavelanet (2) contractual obligations […]

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Laidlaw Company UK Ltd. Sued By Investors For Churning

Bryan Gabriel Mazliach of Fort Lauderdale Florida a stockbroker formerly employed by Laidlaw Company UK Ltd. is referenced in a customer initiated investment related arbitration claim where the customer sought $66,680.00 in damages founded on allegations that between 2015 and 2017: (1) transactions were executed in the customer’s account that were not suitable for the […]

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Hennion Walsh Sued By Investors For Churning

Mamode Abdullah Oozeerally (also known as Sony Oozeerally) of Parsippany New Jersey a stockbroker currently employed by Hennion Walsh Inc. is the subject of a customer initiated investment related arbitration claim in which the customer sought $100,000.00 in damages founded on accusations that (1) unauthorized trades were executed in the customer’s investment account (2) the […]

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Investors Sue J.D. Nicholas Associates For Churning

Nicholas George Tsikitas of Melville New York of Syosset New York a stockbroker formerly employed by J.D. Nicholas Associates Inc. is referenced in a customer initiated investment related arbitration claim in which the customer sought $425,928.00 in damages based upon allegations that in reference to the customer’s options and equities investments: (1) unauthorized transactions were […]

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JP Morgan Discharges Stockbroker For Unauthorized Trading

Ernesto David Ramirez of Coral Gables Florida a stockbroker formerly employed by J.P. Morgan Securities LLC has been discharged on April 7, 2017 based upon accusations that (1) Ramirez violated the firm’s policy by mismarking trades in customers account to make them appear as though they were not solicited by customers and (2) Ramirez violated […]

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Investors Sue America Northcoast For Misconduct

Dominic Anthony Tropiano of Cleveland Ohio a stockbroker formerly registered with America Northcoast Securities is referenced in a customer initiated investment related arbitration claim in which the customer requested $250,000.00 in damages founded on allegations that (1) unauthorized transactions were effected in the customer’s account (2) leveraged exchange traded fund transactions were not suitable for […]

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Investors Accuse Morgan Stanley Of Unauthorized Trading

Rick Alan Davidson of New York New York a stockbroker formerly employed by Morgan Stanley is the subject of a customer initiated investment related complaint on May 15, 2017 where the customer sought $21,000.00 in damages supported by allegations that unauthorized corporate debt trades were executed in the customer’s account while Davidson was associated with […]

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JP Morgan Stockbroker Barred In Investigation Involving Theft From Dead Customer

Joshua Alexander Stephens-Anselm of Valley Stream New York a stockbroker formerly registered with J.P. Morgan Securities LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by allegations that Stephens-Anselm declined to respond to FINRA’s request for information possibly relating to Stephens-Anselm being terminated by J.P. Morgan […]

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Next Financial Stockbroker Caught Unauthorized Trading

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

Steven Elliott Zerbarini of Safety Harbor Florida a stockbroker formerly employed by Next Financial Group Inc. has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based uponconsenting to findings that Zerbarini executed transactions in Next Financial Group Inc. customers’ accounts without the customers having provided […]

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Buckman Buckman Reid Admits To Failure To Supervise Rogue Brokers

Buckman Buckman Reid Inc. a securities broker dealer headquartered in Little Silver New Jersey has been censured by Financial Industry Regulatory Authority (FINRA) based upon findings that (1) Buckman Buckman Reid Inc. neglected to create and implement a supervision system and written supervisory procedures regarding the suitability of trades recommended by stockbrokers of the firm […]

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Investors Sue Revere Securities For Breach Of Contract

Felipe Nery Arrieta of Boca Raton Florida a stockbroker formerly employed by Revere Securities LLC is referenced in a customer initiated investment related arbitration claim where the customer sought $200,000.00 in damages based upon accusations that (1) unauthorized options and mutual fund trades were executed in the customer’s account (2) contractual obligations to the customer […]

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Aegis Capital Stockbroker Barred By FINRA For Churning

James Bradley Schwartz (also known as Jim Schwartz) of Melville New York a stockbroker formerly employed by Aegis Capital Corp has been barred 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) Schwartz executed trades in the customer’s account […]

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Edward Jones Blamed By Investors For Unauthorized Trading

Jay Thompson Humphreys of Golden Valley Minnesota a stockbroker formerly employed by Edward Jones is referenced in a customer initiated investment related complaint on May 1, 2018 in which the customer requested damages estimated to exceed $5,000.00 based upon accusations that between March of 2017 and April of 2017, unauthorized stock trades were effected in […]

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Edward Jones Stockbroker Caught Engaging In Unauthorized Trading

May 02, 2019  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

David Arthur Ellingwood of Leesburg Virginia a stockbroker formerly employed by Edward Jones 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 transactions were executed by Ellingwood in Edward Jones customer accounts without permission. Letter of Acceptance Waiver and […]

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National Securities Corp Sued For Unauthorized Trading

Thomas Edison Kelly Jr. of New York New York a stockbroker formerly registered with National Securities Corporation is referenced in a customer initiated investment related arbitration claim where the customer sought $4,200,000.00 in damages based upon allegations of (1) bad stock transactions being executed in the customer’s account and (2) equity trades being effected in […]

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UBS Stockbroker Discharged For Unauthorized Trading

William David Hobby of Atlanta Georgia a stockbroker formerly employed by UBS Financial Services Inc. has been discharged by the firm on September 18, 2018 supported by accusations that (1) Hobby violated the firm’s customer complaint policy by neglecting to apprise the firm that he was subject of a customer initiated investment related complaint and […]

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Wells Fargo Accused By Investors Of Unauthorized Trading

Peter Michael Malis of Woodland Hills California a stockbroker currently registered with Wells Fargo Clearing Services is the subject of a customer initiated investment related complaint on December 7, 2017 where the customer sought damages estimated to exceed $5,000.00 based upon allegations that while Malis was associated with Wells Fargo: (1) Malis executed unsuitable closed-end […]

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FINRA Sanctions EDI Stockbroker For Unauthorized Trading

William Stafford Thurmond of New York New York a stockbroker formerly employed by EDI Financial Inc. has been fined $25,000.00 and suspended for fifteen months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that (1) Thurmond executed unauthorized trades in the customer’s account and (2) […]

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Investors Accuse Wells Fargo Of Stock Fraud

Apostolos Nicholas Papadea of Columbia South Carolina a stockbroker formerly registered with Wells Fargo Advisors LLC is the subject of a customer initiated investment related written complaint which was settled for $24,000.00 on January 17, 2017 based upon allegations of (1) omissions and misrepresentations being made to the customer concerning the risks of mutual funds […]

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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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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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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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Hilltop Discharges Stockbroker For Unauthorized Trading

May 29, 2018  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Philip Hearl Hamilton of Arlington Texas a stockbroker employed by Hilltop Securities Independent Network Inc. has been discharged by the firm on March 13, 2018 supported by allegations that Hamilton violated the firm’s policies by effecting trades in a customer’s account that was deceased. Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that on August […]

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Morgan Stanley Broker Suspended For Unauthorized Trading

May 29, 2018  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Robert N. Newman of Los Angeles California a stockbroker currently employed by Morgan Stanley Smith Barney 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 executed trades in a customer’s account without securing the customer’s permission. Letter of Acceptance […]

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Customer Accuses LPL Financial Of Unauthorized Trading

Nicole Danielle Jervis of Warren Ohio a stockbroker currently registered with LPL Financial LLC is the subject of a customer initiated investment related written complaint on March 14, 2018 in which the customer sought $10,322.00 in damages supported by allegations that mutual funds had been liquidated from the customer’s investment account without the customer’s authorization […]

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UBS Stockbroker Discharged For Unauthorized Trading

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

Christopher Mitchell Meyers of Plano Texas a stockbroker registered with UBS Financial Services Inc. has been terminated by the firm on August 10, 2016 founded on allegations that he (1) improperly corresponded with customer concerning tax matters (2) effected unauthorized trades in a customer’s account (3) exercised discretion in two investment accounts that were not […]

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Raymond James Discharges Rothchild For Misconduct

Ronald Harris Rothchild of Garden City New York a stockbroker formerly employed by Raymond James Financial Services Inc. has been discharged by the firm and its advisory affiliate on April 8, 2016 supported by allegations that Rothchild (1) placed trades in a customer’s investment account that were neither suitable nor authorized by the customer and […]

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Newbridge Sued For Unauthorized Trading

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

Joseph Benjamin Baldassarra of Coral Springs Florida a stockbroker formerly employed by Newbridge Securities Corporation is the subject of a customer initiated investment related arbitration claim where the customer sought $150,000.00 in damages based upon allegations that Baldassarra executed options and equity transactions on margin that were neither suitable nor authorized by the customer. Financial […]

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Voya Discharges Stockbroker For Unauthorized Trading

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

Jonathan Ryan Wiley of Long Island City New York a stockbroker employed by Voya Financial Advisors Inc. has been discharged by the firm on March 14, 2018 based upon accusations that Wiley exercised discretion in customer accounts in violation of the firm’s policies. Financial Industry Regulatory Authority (FINRA) Public Disclosure additionally reveals that on February […]

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Oppenheimer Stockbroker Discharged For Failure To Disclose

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

Paul Anthony Dangelo of Saddle Brook New Jersey a stockbroker formerly registered with Oppenheimer Co. Inc. has been discharged by the firm on March 13, 2018 founded on accusations that Dangelo neglected to apprise the firm that his activities were subject of a regulatory examination. This is not the first time that Dangelo has been […]

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Morgan Stanley Accused Of Unauthorized Trading

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

Joseph Martin Polanski of Fort Worth Texas a stockbroker currently employed by Morgan Stanley is referenced in a customer initiated investment related written complaint on March 22, 2018 where the customer requested more than $5,000.00 in damages founded on accusations that an unauthorized equity purchase was effected in the customer’s account on January 19, 2018. […]

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Fifth Third Sued For Unauthorized Trading

Ankur Bhatia of Lake Forest Illinois a stockbroker formerly employed by Fifth Third Securities Inc. is the subject of a customer initiated investment civil action filed in the United States District Court for Northern Illinois where the customer sought $50,000.00 in damages based upon allegations that unauthorized trades were effected in the customer’s account and […]

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FINRA Charges Wells Fargo Stockbroker With Obstruction

Joseph Gordon Cloutier of Frisco Texas a stockbroker formerly registered with Wells Fargo Advisors has been charged by Financial Industry Regulatory Authority (FINRA) in a Complaint alleging that Cloutier failed to cooperate with a FINRA investigation into allegations of him executing transactions in customer accounts without permission and soliciting a loan from a customer. Department […]

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National Securities Corp Sued For Fraud

Marshall Owen Isaacson of Boca Raton Florida a stockbroker formerly registered with National Securities Corporation is referenced in a customer initiated investment related arbitration claim which was resolved for $92,000.00 in damages based upon allegations that over-the-counter equities transactions had been placed in the customer’s account that were not suitable for the customer. Financial Industry […]

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Independent Financial Accused Of Unauthorized Trading

Brian Joseph Lockett of Lynwood Washington a stockbroker currently employed by Independent Financial Group LLC is the subject of a customer initiated investment related complaint which was resolved for $45,000.00 in damages on July 27, 2016 supported by allegations that unapproved and unsuitable private investment and real estate investment trust transactions had been effected in […]

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LPL Terminates Stockbroker For Unauthorized Trading

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

Jens Mikel Poulsen of Wenatchee Washington a stockbroker formerly registered with LPL Financial LLC has been terminated on September 20, 2016, founded on allegations that Poulsen solicited stock transactions from customers during the time that the firm had restricted his activities. Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that Poulsen has been identified in […]

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Customer Sues Aegis Capital For Excessive Trading

David Leonard Sheppard of New York New York a stockbroker formerly registered with Aegis Capital Corp is the subject of a customer initiated investment related arbitration claim where the customer requested $250,000.00 in damages based upon allegations that unauthorized and excessive trades were effected in the customer’s account and investment recommendations were not suitable for […]

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Ameriprise Terminates Broker Amid Trading Investigation

May 01, 2018  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Ryan Jeffrey Beal of Columbus Ohio a stockbroker formerly registered with Ameriprise Financial Services Inc. has been terminated on August 22, 2017 amid the firm’s investigation into Beal’s possible unauthorized trading in customers’ accounts. FINRA Public Disclosure additionally reveals that on November 13, 2006, a customer initiated investment related complaint regarding Beal’s conduct was settled […]

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RBC Capital Sued By Customer For Unauthorized Trading

May 01, 2018  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Mark Douglas Panfil of El Segundo California a stockbroker formerly registered with RBC Capital Markets LLC is the subject of a customer initiated investment related arbitration claim where the customer alleged that variable annuity trades were placed in the customer’s account between 2009 and 2016 that were neither authorized nor suitable for the customer. Financial […]

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FINRA Bars Bad Buckman Buckman Broker

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

Ron Jason Ison of Little Silver New Jersey a stockbroker formerly registered with Buckman Buckman and Reid Inc. was 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 of Ison effecting unsuitable and unauthorized trades in customer […]

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Customer Accuses Oppenheimer Of Unauthorized Trading

Michael Alexander Lackwood of New York New York a stockbroker currently registered with Oppenheimer and Co. Inc. is the subject of a customer initiated investment related written complaint on February 11, 2018 in which the customer requested $90,000.00 in damages supported by allegations that the customer’s account was mishandled and that unauthorized sales of equities […]

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FINRA Bars Investment Planners Broker For Obstruction

William George Brunner of Huntington New York is a stockbroker and securities principal formerly registered with Investment Planners Inc. who 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 in a FINRA investigation into allegations that he traded […]

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FINRA Fines Berthel Fisher Broker For Unauthorized Trading

April 18, 2018  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Mason Wayne Gann of Dallas Texas is a stockbroker formerly registered with Berthel Fisher and Company Financial Services Inc. who 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 placed unauthorized transactions in customers’ investment accounts. Letter of […]

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FINRA Fines Merrill Lynch Broker For Unauthorized Trading

April 18, 2018  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Jonathan R. Belden of Oakland California is a stockbroker formerly registered with Merrill Lynch Pierce Fenner and Smith Inc. who has been fined $10,000.00 and suspended for sixty days 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 exercised […]

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Morgan Stanley Fires Broker For Unauthorized Trading

April 08, 2018  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

David Hugh Bindelglass of Paramus New Jersey is a stockbroker formerly registered with Morgan Stanley who has been fired on December 20, 2017 founded on accusations that Bindelglass executed unauthorized transactions in customer accounts and made unsuitable investment recommendations to a customer. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Bindelglass has been referenced […]

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Wells Fargo Stockbroker Fired For Unauthorized Trading

April 08, 2018  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Stephen Allen Kelbick of Villanova Pennsylvania is a stockbroker formerly registered with Wells Fargo Clearing Services LLC who has been fired on August 16, 2017, based upon allegations that Kelbick effected trades in customers’ investment accounts without ever having spoken to them before the transactions were entered. Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms […]

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PNC Stockbroker Fired For Hindering Investigation

April 08, 2018  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Philip Anthony Marchetti of Pompton Plains New Jersey is a stockbroker formerly registered with PNC Investments who has been fired on August 5, 2016 supported by allegations that he failed to be forthcoming with supervisory personnel at PNC in an investigation into whether Marchetti executed unauthorized trades in an account owned by a firm customer. […]

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United Planners Financial Sued For Unauthorized Trading

April 08, 2018  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Carl Damien Gill of Troy Michigan is a stockbroker formerly registered with United Planners’ Financial Services of America who is the subject of a customer initiated investment related arbitration claim which settled on December 21, 2017 for $40,000.00 in damages supported by accusations that unauthorized exchange traded funds trades had been placed in the customer’s […]

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Customer Accuses JP Morgan Of Unauthorized Trading

April 08, 2018  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Robert Mario Mennella of New York New York is a stockbroker formerly registered with J.P. Morgan Securities LLC who is the subject of a customer initiated investment related written complaint on April 20, 2016 in which the customer requested more than $5,000.00 in damages founded on allegations that unauthorized equity transactions were effected in the […]

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Voya Stockbroker Fined By FINRA For Unauthorized Trading

April 06, 2018  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Joshua D. Bradley of Columbia South Carolina is a stockbroker formerly registered with Voya Financial Advisors Inc. who has been fined $15,000.00 and suspended for six months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he effected discretionary trades in customer accounts when he […]

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Customer Accuses Morgan Stanley Of Unauthorized Trading

April 06, 2018  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

John Gunther Hoagland of Troy Michigan is a stockbroker formerly registered with Morgan Stanley who is the subject of a customer initiated investment related written complaint which settled on February 15, 2018 for $17,044.19 in damages supported by allegations that unauthorized equity transactions were effected in the customer’s investment account between September and October of […]

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Merrill Lynch Fires Stockbroker For Unauthorized Trading

April 06, 2018  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

German Ricardo Mora of San Antonio Texas is a stockbroker formerly registered with Merrill Lynch who has been fired on November 11, 2016 based upon allegations that he executed transactions in customers’ accounts on a discretionary basis and marked order tickets as having been unsolicited when they were actually solicited. On November 29, 2016, Mora […]

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Customer Accuses Wells Fargo Of Unauthorized Trading

April 05, 2018  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Duane J. Haley of Indianapolis Indiana is a stockbroker formerly registered with Wells Fargo Advisors, LLC who is the subject of a customer initiated investment related written complaint which settled for $5,000.00 in damages founded on allegations that mutual fund transactions were executed in the customer’s account on an unauthorized and unsuitable basis. Haley’s registration […]

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LPL Spangler Spanked For Hindering Investigation

April 05, 2018  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Sanders Lane Spangler of San Antonio Texas is a stockbroker formerly registered with LPL Financial LLC who 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 in a FINRA investigation into accusations of his unauthorized trading in customer […]

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International Assets Advisory Fires Broker For Cause

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

Michael Patrick Spolar of Orlando Florida is a stockbroker registered with International Assets Advisory LLC who has been fired on October 9, 2017 supported by accusations that he engaged in customer communications during a time that he was suspended by Financial Industry Regulatory Authority (FINRA). Particularly, on June 19, 2017, Spolar was suspended from associating […]

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Ameriprise Stockbroker Fined For Unauthorized Trading

Michael Douglas Hanke of Lutz Florida is a stockbroker formerly registered with Ameriprise Financial Services Inc. who has been fined $10,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity by consenting to findings that he exercised discretion in a customer’s account without authorization and mismarked the customer’s order […]

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FINRA Fines EJ Sterling Broker For Unauthorized Trading

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

Peter M. Torabkhan of New York New York is a stockbroker currently registered with EJ Sterling Inc. who has been fined $2,500.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity by consenting to findings that he effected trades in customer accounts without authorization. Letter of Acceptance Waiver and […]

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FINRA Fines Cetera Stockbroker For Unauthorized Trading

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

Martin Earl Brooks of Belton Missouri is a stockbroker formerly registered with Cetera Advisors LLC who has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity by consenting to findings that he effected trades in customer accounts without their written authorization and mismarked order tickets as […]

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JP Morgan Sued By Customer For Misrepresentation

Antoine Nabih Souma of Los Angeles California is a stockbroker formerly registered with JP Morgan Securities LLC who is the subject of a customer initiated investment related arbitration claim in which the customer requested $20,000,000.00 in damages based upon allegations of (1) unauthorized transactions (2) suitability and (3) misrepresentation. Financial Industry Regulatory Authority (FINRA) Arbitration […]

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FINRA Fines Cetera Broker For Unauthorized Transactions

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

Choosri Lao of Tinley Park Illinois is a stockbroker formerly registered with Cetera Advisor Networks LLC who has been fined five thousand dollars and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Choosri made investment recommendations and facilitated customers’ alternative investment transactions despite […]

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FINRA Sanctions Dougherty Broker For Failure To Comply

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

Jeffrey Alan Hill of Bemidji Minnesota is a stockbroker formerly registered with Dougherty and Company LLC whose securities registration has been revoked on March 17 2017 by Financial Industry Regulatory Authority (FINRA) based upon allegations that he failed to pay fifty thousand dollars in fines and disgorgement. Particularly, Hill was disgorged of $45,000.00, fined $5,000.00 […]

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Madison Avenue Broker Barred For Hindering Investigation

March 11, 2018  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

David Lloyd Barber of San Diego California is a stockbroker formerly registered with Madison Avenue Securities LLC who 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 provide documentation and information to FINRA in an investigation into allegations of […]

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Raymond James Broker Suspended For Unauthorized Trading

March 11, 2018  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

A stockbroker from Kingston Pennsylvania formerly registered with Raymond James Financial Services Inc. was fined five thousand dollars 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 without having received customers’ written authorization. Letter of Acceptance Waiver and […]

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Wells Fargo Terminates Broker For Unauthorized Trading

March 07, 2018  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Steven Jude Meleco is a stockbroker formerly registered with Wells Fargo Clearing Services LLC who has been terminated on November 10 2017 founded on accusations that he effected trades in a customer’s account without authorization. Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that on August 13, 2015, a customer initiated investment related written complaint […]

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Edward Jones Broker Fined For Unauthorized Trading

Issac Franklin Stevens Junior of Denton Texas is a stockbroker formerly registered with Edward Jones who has been fined five thousand dollars and suspended 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 authorization. Letter of Acceptance […]

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Morgan Stanley Broker Fired For Unauthorized Trading

March 07, 2018  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Christopher Adam Seshadri of New York New York is a stockbroker formerly registered with Morgan Stanley who was fired on March 1 2016 based upon accusations that he utilized discretion in customers’ accounts without authorization. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Seshadri is referenced in three customer initiated investment related disputes pertaining […]

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Customer Sues JP Morgan For Unsuitable Investments

March 07, 2018  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Erick George Revelle Kuebler of Dallas Texas is a stockbroker formerly registered with J.P. Morgan Securities LLC who is the subject of a customer initiated investment related arbitration claim in which the customer requested five hundred thousand dollars in damages supported by allegations that Kuebler effected unsuitable and unauthorized transactions in the customer’s account between […]

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Newbridge Stockbroker Fined For Unauthorized Trading

March 07, 2018  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Daniel Simon Pikula of Boca Raton Florida is stockbroker formerly registered with Newbridge Securities Corporation and advisor currently registered with Money Manager Inc. who has been fined ten thousand dollars by Florida Office of Financial Regulation based upon consenting to findings that Pikula (1) violated a June 24 2015 registration agreement (2) effected trades on […]

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FINRA Fines Aegis Stockbroker For Unauthorized Trading

February 20, 2018  |   Posted by :   |   Boilerroom, Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Cory D. Bataan of Melville New York is a stockbroker currently registered with Aegis Capital Corp. who has been fined five thousand dollars and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity by consenting to findings that he executed trades in customer investment accounts without authorization. Letter of Acceptance […]

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National Securities Broker Fined For Unauthorized Trading

February 20, 2018  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Gregory Gassoso of Edison New Jersey is a stockbroker formerly registered with National Securities Corporation who has been fined five thousand dollars and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity by consenting to findings that he executed unauthorized stock trades in a customer’s investment account. Letter of Acceptance […]

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Money Concepts Broker Fined For Unauthorized Trading

February 20, 2018  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Guy Charles Conger of San Antonio Texas is a former stockbroker of Money Concepts Capital Corp who has been fined fifteen thousand dollars and suspended for six months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he (1) utilized discretion in customer accounts in […]

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FINRA Bars MWA Stockbroker For Failure To Cooperate

February 20, 2018  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Brett Alexander Ashy of Jackson Mississippi is a registered representative formerly employed with MWA Financial Services Inc. who has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any and all capacities based upon consenting to findings that he failed to cooperate with FINRA in an investigation into allegations of Ashy’s […]

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Merrill Lynch Accused Of Unauthorized Transactions

February 20, 2018  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Shaun Eugene Hayes of Fort Worth Texas is a stockbroker formerly registered with Merrill Lynch who is the subject of a customer initiated investment related complaint which settled on December 19 2017 for one hundred twenty-five thousand dollars in damages based upon allegations that stock trades had been effected in the customer’s account without the […]

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Morgan Stanley Fires Broker For Unauthorized Trading

February 20, 2018  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Kenneth Carl Ramos of New York New York is a stockbroker formerly employed with Morgan Stanley Wealth Management that had been fired by the firm in November 2017 based upon accusations that he placed trades in customers’ non-discretionary investment accounts without ever having consulted with the customers in advance. Financial Industry Regulatory Authority (FINRA) Public […]

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Stifel Nicolaus Sued By Customer For Fraud

February 19, 2018  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Coleman Joseph Devlin is a stockbroker formerly registered with Stifel Nicolaus who is the subject of a customer initiated investment related arbitration claim where the customer requested three hundred thousand dollars in damages based upon accusations of (1) violations of Maryland Securities Act (2) breach of fiduciary duty (3) breach of contract (4) common law […]

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Raymond James Broker Fired For Unauthorized Trading

February 19, 2018  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Clifford C. Vatter III of Louisville Kentucky was a stockbroker formerly registered with Raymond James and Associates Inc. whom the firm fired in July 2017 based upon accusations that Vatter placed trades in a customer’s account without the customer’s authorization. Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that Vatter has been identified in six […]

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Deutsche Bank Broker Fined For Unauthorized Trading

January 26, 2018  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Gregory Edward Barr, of Boca Raton, Florida, a stockbroker formerly employed with Deutsche Bank Securities Inc., has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based on consenting to findings that he effected unauthorized transactions in customer accounts. Letter of Acceptance, Waiver and Consent, No. […]

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Customer Sues Janney Montgomery Scott For Suitability

January 26, 2018  |   Posted by :   |   Stockbroker Fraud News, Suitability, Unauthorized Trading   |   0 Comments

Henry Benoit Scheuer, of New York, New York, a stockbroker formerly registered with Janney Montgomery Scott LLC, is the subject of a customer initiated investment related arbitration claim, which settled for $13,000.00 in damages founded on allegations that Scheuer effected equity trades in the customer’s account that were neither authorized nor suitable for the customer. […]

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Morgan Stanley Broker Fined For Unauthorized Trading

January 26, 2018  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Colin Edward Hammer, of Akron, Ohio, a stockbroker registered with Morgan Stanley, has been fined $2,500.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity by consenting to findings that he placed unauthorized trades in customer accounts. Letter of Acceptance, Waiver and Consent, No. 2016051154701 (Jan. 22, 2018). According […]

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Customer Accuses LPL Financial Of Unauthorized Trading

January 26, 2018  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

James Ernest Joly, of East Greenwich, Rhode Island, a stockbroker formerly employed with LPL Financial, LLC, is the subject of a customer initiated investment related written complaint on September 22, 2017, in which the customer sought damages estimated at more than $5,000.00 supported by allegations that unauthorized and unsuitable non-traded real estate investment trust and […]

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Sigma Terminates Stockbroker For Unauthorized Trading

January 10, 2018  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Gregory Joseph Rusnak of Saint Charles, Illinois, a stockbroker formerly registered with Sigma Financial Corporation, has been terminated from employment on December 13, 2017, based upon accusations that Rusnak violated Sigma’s policies by executing trades in a customer’s account on a discretionary basis. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that on March 28, 2008, […]

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FINRA Fines Wells Fargo Broker For Unauthorized Trading

January 09, 2018  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Gary Raymond Gray of Las Vegas, Nevada, a stockbroker associated with Wells Fargo Clearing Services, has been fined $10,000.00 and suspended for three months 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 and mismarked trading tickets. Letter […]

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Wells Fargo Sued For Unauthorized Trading

January 09, 2018  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Howard Barry Steinman of Coral Springs, Florida, a stockbroker currently registered with Wells Fargo Clearing Services, LLC, is the subject of a customer initiated investment related civil action brought in the Circuit Court of Broward, Florida, in which the customer requested more than $5,000.00 in damages supported by accusations that Steinman effected unauthorized transactions in […]

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Investment Planners Broker Terminated For Trading

January 09, 2018  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

William George Brunner of Huntington, New York, a stockbroker registered with Investment Planners, Inc., has been terminated from employment on May 12, 2017, based upon a customer’s allegations that Brunner exercised discretion in the customer’s account. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Brunner has been identified in five customer initiated investment related […]

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FINRA Fines Morgan Stanley Broker For Suitability

January 09, 2018  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Mircea Sauciuc of Leawood, Kansas, a stockbroker registered with Morgan Stanley Barney, has been fined $10,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he effected unauthorized transactions in a customer’s account and made unsuitable investment recommendations. Letter of Acceptance, Waiver and […]

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Morgan Stanley Blamed For Unauthorized Trading

January 09, 2018  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Michael Darren Bell of Rochester, New York, a stockbroker registered with Morgan Stanley Smith Barney, is the subject of a customer initiated investment related written complaint on June 27, 2017, alleging that between June of 2014 and March of 2017, mutual fund trades were effected in the customer’s account without authorization. Financial Industry Regulatory Authority […]

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FINRA Suspends LPL Stockbroker For Unauthorized Trading

January 09, 2018  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

John William Bernard of Shell Beach, California, a stockbroker registered with LPL Financial 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 placed trades in customer accounts without authorization. Letter of Acceptance, Waiver and Consent, No. 2015044696201 (Dec. […]

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US Bancorp Accused By Customer Of Unauthorized Trading

January 09, 2018  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Denes Joseph Chapo III, of Cleveland, Ohio, a stockbroker associated with U.S. Bancorp Investments, is the subject of a customer initiated investment related written complaint on July 10, 2017, in which the customer requested $12,128.25 in damages based upon allegations that Chapo effected unauthorized over-the-counter equities purchases in the customer’s account. Financial Industry Regulatory Authority […]

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Windsor Street Stockbroker Suspended For Suitability

January 09, 2018  |   Posted by :   |   Churning, Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Craig Cary Langweiler, of Philadelphia, Pennsylvania, a stockbroker associated with Windsor Street Capital, L.P. (formerly Meyers Associates, L.P.), has been fined $15,000.00 and suspended for one year from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity according to an Office of Hearing Officers Default Decision pertaining to findings that Langweiler effected […]

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Petersen Investments Sued For Unauthorized Trading

December 15, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

John Fotis Valliades, of New York, New York, a stockbroker registered with Petersen Investments 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 placed trades in customers’ accounts without authorization. Letter of Acceptance, Waiver and Consent, No. […]

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Customer Sues Janney Montgomery Scott For Suitability

December 15, 2017  |   Posted by :   |   FINRA Securities Arbitration, Unauthorized Trading   |   0 Comments

William George Bryant Harvey, of Doylestown, Pennsylvania, a stockbroker registered with Janney Montgomery Scott LLC, is the subject of a customer initiated investment related arbitration claim, in which the customer sought $280,000.00 in damages founded on allegations that Harvey effected unauthorized trades in the customer’s account, and made misrepresentations to the customer as well as […]

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Stifel Nicolaus Accused By Customer Of Churning

December 15, 2017  |   Posted by :   |   Unauthorized Trading   |   0 Comments

Cindy Lee Russell, of Memphis, Tennessee, a stockbroker registered with STIFEL, NICOLAUS & COMPANY, INCORPORATED is the subject of a customer initiated investment related written complaint on September 19, 2017, in which the customer sought at least $5,000.00 in damages based upon allegations that Russell churned the customer’s account and made trades on an unauthorized […]

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Stifel Nicolaus Broker Fined For Unauthorized Trading

December 15, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Nolan Dudley Baird, Jr., of Augusta, Georgia, a stockbroker registered with Stifel, Nicolaus & Company, Incorporated, 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 trades in customer accounts without authorization. Letter of Acceptance, Waiver and Consent, […]

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Brookville Capital Broker Suspended For Unauthorized Trades

December 15, 2017  |   Posted by :   |   Boilerroom, Unauthorized Trading   |   0 Comments

Michael Lawrence Oromaner, of Uniondale, New York, a stockbroker formerly registered with Brookville Capital Partners, has been fined $25,000.00 and suspended for two years from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity by consenting to findings that he effected unauthorized trades in a customer’s investment account. Letter of Acceptance, Waiver […]

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FINRA Fines Morgan Stanley Broker For Unauthorized Trading

December 15, 2017  |   Posted by :   |   Unauthorized Trading   |   0 Comments

Paul William Lascelle of Flemington, New Jersey, a stockbroker registered with Morgan Stanley, has been fined and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity by consenting to findings that he engaged in the unauthorized trading of a customer’s investment account. Letter of Acceptance, Waiver and Consent, No. 2017053501901 […]

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Ridgeway Conger Broker Charged With Unsuitable Recommendations

November 28, 2017  |   Posted by :   |   Forgery, Unauthorized Trading   |   0 Comments

Brian Joseph Panfil of New Woodstock, New York, a stockbroker formerly registered with Ridgeway & Conger, Inc., has been charged by Financial Industry Regulatory Authority Department of Enforcement in a Complaint alleging that he effected unsuitable trades in customer accounts, forged signatures of customers on account documentation, and placed trades without authorization. Department of Enforcement […]

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Raymond James Broker Fined For Unauthorized Trading

November 28, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Robert Francis Leis of Louisville, Kentucky, a stockbroker formerly registered with Raymond James Financial Services, Inc., has been fined $50,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he placed trades in customers’ investment accounts without their consent. Letter of Acceptance, Waiver and […]

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Northwestern Broker Fined For Unauthorized Trading

November 28, 2017  |   Posted by :   |   Unauthorized Trading   |   0 Comments

Daniel Joe Wilson of Columbus Junction, Iowa, a stockbroker registered with Northwestern Mutual Investment Services, LLC, 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 effected trades in a customer’s account without authorization. Letter of Acceptance, Waiver and Consent, […]

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Morgan Stanley Stockbroker Barred By Regulator

November 21, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Peter Joseph Doyle of Washington, DC, a stockbroker formerly registered with Morgan Stanley, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity by consenting to findings that he failed to cooperate in a FINRA investigation into allegations of his improper conduct as referenced in his termination from Morgan […]

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FINRA Fines PHX Stockbroker For Unauthorized Trading

November 21, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Marc Augusta Reda of New York, New York, a stockbroker formerly registered with PHX Financial, Inc., has been fined $5,000.00 and suspended for three months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Reda, inter alia, traded in customer accounts without authorization. Letter of […]

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Raymond James Named In Customer Complaint

November 21, 2017  |   Posted by :   |   Non-traded REITs, Unauthorized Trading   |   0 Comments

Todd Douglas Ryman, of Atlanta, Georgia, a stockbroker formerly registered with Raymond James & Associates, is the subject of a customer initiated investment related written complaint on August 16, 2017, where the customer requested $300,000.00 in damages founded on allegations that between September 6, 2016 and February 13, 2017, Ryman effected unauthorized transactions in a […]

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First Allied Stockbroker Fined For Unauthorized Trading

November 20, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Charles Terrence Lundell of Bellevue, Washington, a stockbroker formerly registered with First Allied Securities, Inc., has been fined $5,000.00 and suspended for a month from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity by consenting to findings that he effected unauthorized trades in customers’ investment accounts. Letter of Acceptance, Waiver and […]

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Garden State Broker Terminated For Unauthorized Trading

November 20, 2017  |   Posted by :   |   Unauthorized Trading   |   0 Comments

Jonathan William Iraggi, of Red Bank, New Jersey, a stockbroker registered with Garden State Securities, Inc., has been terminated from employment on July 11, 2017, based upon allegations that he traded in customer accounts without authorization. Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that on January 2, 2015, a customer filed an investment related […]

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Saxony Stockbroker Suspended For Unauthorized Trading

November 07, 2017  |   Posted by :   |   Unauthorized Trading   |   0 Comments

James Michael Kennedy, of Chicago, Illinois, a stockbroker formerly registered with Saxony Securities, Inc., has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity by consenting to findings that he effected trades in a customer’s account without authorization. Letter of Acceptance, Waiver and Consent, No. 2015047306901 […]

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Oppenheimer Stockbroker Fined For Unauthorized Trading

November 07, 2017  |   Posted by :   |   Unauthorized Trading   |   0 Comments

Luigi Edward Mancusi, of Lake Forrest, Illinois, a stockbroker formerly registered with Oppenheimer & Co. Inc., has been fined $10,000.00, suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity, and agreed to provide $2,966.97 in restitution to a customer by consenting to findings that Mancusi effected unauthorized transactions in the […]

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Westminster Financial Sued For Botched Investments

November 01, 2017  |   Posted by :   |   Boilerroom, Churning, Unauthorized Trading   |   0 Comments

Louis Anthony Telerico of Dayton, Ohio, a stockbroker formerly registered with Westminster Financial Securities, Inc. has been named in a customer initiated investment related arbitration claim, in which the customer requested $426,000.00 in damages based upon allegations that Telerico executed art and land based transactions that led the customer to sustain losses. FINRA Arbitration No. 17-00988 […]

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FINRA Bars Summit Stockbroker For Failure To Testify

November 01, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Kenneth Bostian Neuner, of Dallas, Texas, a stockbroker formerly registered with Summit Brokerage Services, Inc., has been permanently barred in all capacities from associating with any Financial Industry Regulatory Authority (FINRA) member by consenting to findings that he failed to cooperate in a FINRA investigation into his unauthorized trading in Summit customers’ investment accounts. Letter […]

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Bay Mutual Stockbroker Fined For Unauthorized Trading

November 01, 2017  |   Posted by :   |   Churning, Unauthorized Trading   |   0 Comments

Martin William Pernoll, of Santa Monica, California, a stockbroker formerly registered with Bay Mutual Financial, LLC, has been fined $25,000.00 and suspended for nine months from associating with any Financial Industry Regulatory Authority (FINRA) member firm by consenting to findings that he, inter alia, executed unauthorized transactions, and failed to report customer disputes. Letter of […]

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Stifel Stockbroker Barred For Unauthorized Trading

November 01, 2017  |   Posted by :   |   Unauthorized Trading   |   0 Comments

Coleman J. Devlin, a stockbroker formerly registered with Stifel, Nicolaus & Company, Inc., has been fined $5,000.00 and suspended from associating with any FINRA member in any and all capacities based upon allegations that he placed trades in the firm’s customer accounts without having authorization. Letter of Acceptance, Waiver and Consent, No. 2016050359301 (Oct. 18, […]

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Aegis Capital Corp Sued By Customer For Suitability

November 01, 2017  |   Posted by :   |   Churning, Unauthorized Trading   |   0 Comments

Steven Robert Luftschein, of Melville, New York, a stockbroker formerly registered with Aegis Capital Corp., has been named in a customer initiated investment related arbitration claim, where the customer has requested $269,131.00 in damages based upon allegations of breach of fiduciary duty, breach of contract, omissions and misrepresentations, excessive and unauthorized trading, and unsuitable investment […]

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Customer Sues Wells Fargo For Suitability

October 16, 2017  |   Posted by :   |   Suitability, Unauthorized Trading   |   0 Comments

Charles Bernard Lynch Jr., of Irvine California, a stockbroker formerly registered with Wells Fargo Advisors, LLC, is the subject of a customer initiated investment related arbitration claim on September 18, 2017, in which the customer requested $200,000.00 in damages based on allegations that Lynch effected unsuitable transactions in the customer’s account, over-concentrating the customer’s portfolio […]

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Morgan Stanley Accused Of Unauthorized Trading

October 16, 2017  |   Posted by :   |   Unauthorized Trading   |   0 Comments

Mark David Rosenberg, of Atlanta, Georgia, a stockbroker registered with Morgan Stanley since November 1, 2011, is the subject of a customer initiated investment related written complaint on March 21, 2017, in which the customer alleged that Facebook shares were purchased in the customer’s account without the customer’s consent. Financial Industry Regulatory Authority (FINRA) Public […]

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Wells Fargo Stockbroker Fined For Unauthorized Trading

October 16, 2017  |   Posted by :   |   Unauthorized Trading   |   0 Comments

Scott Jason Wallach, of Paramus, New Jersey, a stockbroker currently registered with Wells Fargo Clearing Services, has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity, and disgorged of commissions obtained from a customer by him through effecting unauthorized trades in the investment account of a […]

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UBS Stockbroker Fired For Unauthorized Trading

October 05, 2017  |   Posted by :   |   Unauthorized Trading   |   0 Comments

Kristopher B. Smith, of Fargo, North Dakota, a stockbroker formerly registered with UBS Financial Services Inc., has been terminated on May 26, 2010, supported by allegations that Smith violated the firm’s policies by effecting unauthorized trading in customer accounts. Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that Smith was fined $5,000.00 and suspended from […]

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Wells Fargo Stockbroker Charged With Obstruction

October 03, 2017  |   Posted by :   |   Unauthorized Trading   |   0 Comments

Hector Hugo Gutierrez, Jr., of Brownsville, Texas, a stockbroker formerly registered with Wells Fargo Advisors, LLC, was charged by Financial Industry Regulatory Authority (FINRA) in a Complaint alleging that he failed to make an appearance and testify before FINRA staff in reference to accusations that he effected unauthorized transactions in customer accounts. Department of Enforcement […]

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LPL Financial Sued For Unauthorized Trading

September 22, 2017  |   Posted by :   |   Suitability, Unauthorized Trading   |   0 Comments

Sanders Lane Spangler, of San Antonio, Texas, a stockbroker formerly registered with LPL Financial LLC, has been identified in a customer initiated investment related arbitration on June 14, 2017, in which the customer requested $500,000.00 in damages based upon allegations that Spangler effected unauthorized and unsuitable equity transactions in the customer’s account. Financial Industry Regulatory […]

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Questar Capital Fires Stockbroker For Unauthorized Trading

September 22, 2017  |   Posted by :   |   Unauthorized Trading   |   0 Comments

Elaine Marie Zito, of Scottsdale, Arizona, a stockbroker registered with Questar Capital Corporation, has been fired on November 2, 2016, based on allegations that she violated the firm’s supervisory procedures by exercising discretion in customer accounts. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Zito has been identified in three customer initiated investment related […]

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Ameriprise Sued For Unauthorized Trading

September 22, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Jonathan Ben Mirer, of Henderson, Nevada, a stockbroker currently registered with Ameriprise Financial Services, Inc., is the subject of a customer initiated investment related complaint, which settled on February 7, 2017, for $20,000.00 in damages supported by allegations of unauthorized trading of foreign equities from 2009 to 2016. Financial Industry Regulatory Authority (FINRA) Public Disclosure […]

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Merrill Lynch Broker Suspended For Unauthorized Trading

September 15, 2017  |   Posted by :   |   Unauthorized Trading   |   0 Comments

Joseph Yanofsky, of Greenwood Village, Colorado, a stockbroker formerly registered with Merrill Lynch, Pierce, Fenner & Smith Incorporated, has been fined $10,000.00 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 […]

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Ameriprise Fires Advisor For Unauthorized Trading

September 15, 2017  |   Posted by :   |   Unauthorized Trading   |   0 Comments

Cheryle Anne Brady, of Hingham, Massachusetts, an advisor registered with Ameriprise Financial Services Inc., was fired on September 7, 2016, based upon accusations that she traded in customer accounts without authorization; the firm claimed that she exercised discretion in accounts that were not approved by the firm for purposes of discretionary trading. Financial Industry Regulatory […]

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WFG Investments Sued For Unauthorized Trading

September 15, 2017  |   Posted by :   |   Unauthorized Trading   |   0 Comments

Timothy Joe Hightower, of Mount Pleasant, Texas, a stockbroker formerly registered with WFG Investments, Inc., is the subject of a customer initiated investment related written complaint on May 16, 2017, in which the customer requested $5,000.00 in damages based upon accusations that Hightower effected unauthorized trades in the customer’s variable annuity. Financial Industry Regulatory Authority […]

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Freedom Investors Broker Suspended For Unauthorized Trading

September 15, 2017  |   Posted by :   |   Unauthorized Trading   |   0 Comments

Frederick D. Houck, of Brookfield, Wisconsin, a stockbroker formerly registered with Freedom Investors Corp., has been suspended for two months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he effected unauthorized trades in customer accounts. Letter of Acceptance, Waiver and Consent, No. 2016049678601 (Aug. […]

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Morgan Stanley Broker Suspended For Unauthorized Trading

September 14, 2017  |   Posted by :   |   Unauthorized Trading   |   0 Comments

Benjamin S. Burton, of Charlestown, West Virginia, a stockbroker formerly registered with Morgan Stanley, has been fined $7,500.00 and suspended for three months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity by consenting to findings that he effected trades in a customer’s accounts without the customer’s consent. Letter of Acceptance, […]

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Customer Sues Wells Fargo For Unauthorized Trading

September 14, 2017  |   Posted by :   |   Unauthorized Trading   |   0 Comments

Marco Fragnito, of Laguna Hills, California, a stockbroker registered with Wells Fargo Advisors Financial Network, LLC, is the subject of a customer initiated investment related arbitration claim, which was settled for $1,200,000.00 in damages on July 20, 2017, based upon allegations that Fragnito effected trades in the customer’s account that the customer never authorized. The […]

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Stifel Nicolaus Fires Broker For Unauthorized Trading

September 14, 2017  |   Posted by :   |   Unauthorized Trading   |   0 Comments

Coleman Joseph Devlin, of Baltimore, Maryland, a stockbroker formerly registered with Stifel, Nicolaus & Company Incorporated, was fired on June 28, 2016, based upon allegations that he effected unauthorized trades in customer’s investment accounts. This is not the first time that Devlin has been fired for committing misconduct while associated with a broker. Financial Industry […]

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Raymond James Broker Terminated

August 31, 2017  |   Posted by :   |   Unauthorized Trading   |   0 Comments

Jeb Curtis Bonner, of Tuscaloosa, Alabama, a stockbroker registered with Raymond James & Associates, Inc., has been fired from employment on May 16, 2017, based upon allegations that he traded in a deceased customer’s investment account. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Bonner has been subject of two customer initiated investment related […]

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Regulator Bars WFG Investments Stockbroker For Suitability

August 31, 2017  |   Posted by :   |   Stockbroker Fraud News, Suitability, Unauthorized Trading   |   0 Comments

Jay Dee Jordan, of Oklahoma City, Oklahoma, a stockbroker formerly registered with WFG Investments, Inc., has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he made unsuitable investment recommendations to the customer, effected unauthorized transactions in the customer’s account, mismarked customer order […]

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Joseph Gunnar Broker Fined For Unauthorized Transactions

August 31, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Keith Joseph Michelfelder, of New York, New York, a stockbroker formerly registered with Joseph Gunnar & Co. LLC, has been fined $10,000.00 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 the firm’s customer accounts. Letter of Acceptance, […]

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Wells Fargo Advisors Stockbroker Suspended By Regulator

August 26, 2017  |   Posted by :   |   Unauthorized Trading   |   0 Comments

Tyler Boone Powell, of Montecito, California, a stockbroker formerly registered with Wells Fargo Advisors, 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 effected trades in customer accounts without authorization. Letter of Acceptance, Waiver and Consent, No. […]

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Princor Stockbroker Suspended For Unauthorized Trading

August 26, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Ralph Edward Martin, of Washington, Illinois, a stockbroker formerly registered with Princor Financial Services Corporation, has been fined $10,000.00 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. 2014042877101 […]

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RBC Capital Markets Broker Fined For Unauthorized Trades

August 26, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Michael Amundson, of Fargo, North Dakota, a stockbroker formerly registered with RBC Capital Markets, LLC, has been fined and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he effected unauthorized trades in a customer’s account. Letter of Acceptance, Waiver and Consent, No. 2016051091101 […]

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Ladenburg Thalman Stockbroker Barred

August 17, 2017  |   Posted by :   |   Stockbroker Fraud, Unauthorized Trading   |   0 Comments

Elliot Harris, of Boca Raton, Florida, a stockbroker formerly registered with Ladenburg Thalmann & Co. 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 allegations of his unauthorized and unsuitable trading in customer accounts. Letter […]

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Morgan Stanley Broker Suspended For Unauthorized Trading

August 15, 2017  |   Posted by :   |   Unauthorized Trading   |   0 Comments

Matthew M. Serth, of McClean, Virginia, a stockbroker formerly registered with Morgan Stanley, has been fined and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he effected unauthorized transactions in customers’ accounts. Letter of Acceptance, Waiver and Consent, No. 2016051495801 (July 31, 2017). […]

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Ameriprise Fires Broker For Unauthorized Trading

August 15, 2017  |   Posted by :   |   Unauthorized Trading   |   0 Comments

Stephen John Caruso, of New York, New York, a stockbroker registered with Ameriprise Financial Services, has been fired from his job on May 27, 2016, based upon allegations that he committed numerous violations of the firm’s policies. Apparently, Caruso’s faulty conduct involved exercising discretion in a customer’s account despite the account not having been approved […]

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Wells Fargo Advisors Sued For Unauthorized Trading

August 15, 2017  |   Posted by :   |   Unauthorized Trading   |   0 Comments

Betty Rodriguez, of Weston, Florida, a stockbroker formerly registered with Wells Fargo Advisors, LLC, is the subject of a customer initiated investment related arbitration claim on May 27, 2016, in which the customer requested $6,268.90 in damages based upon allegations that Rodriguez, in May of 2016, effected unauthorized mutual fund transactions in the customer’s account. […]

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Customer Sues BB&T For Unauthorized Trading

August 15, 2017  |   Posted by :   |   Unauthorized Trading   |   0 Comments

Michael Andrew Coraggio, of Hasbrouck Heights, New Jersey, a stockbroker formerly registered with BB&T Securities, LLC, is the subject of a customer initiated investment related arbitration claim , which settled on June 7, 2017, wherein the customer received $24,000.00 in damages based upon allegations that Coraggio breached his fiduciary duties, made misrepresentations and omissions to […]

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Wells Fargo Broker Fined For Unauthorized Transactions

August 02, 2017  |   Posted by :   |   Forgery, Unauthorized Trading   |   0 Comments

Sandra Jayne McCabe, of Melville, New York, a stockbroker formerly registered with Wells Fargo Advisors, 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 she effected unauthorized transactions involving the recycling of customers signatures on documents. Letter of Acceptance, […]

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Customer Sues UBS For Unauthorized Trading

August 02, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Mark Horan, of Florham Park, New Jersey, a stockbroker formerly registered with UBS Financial Services, Inc., is the subject of a customer initiated investment related arbitration claim, which settled on October 28, 2015, for $350,000.00 in damages based upon allegations that Horan effected an unauthorized over-the-counter equity transaction for the customer. The customer indicated that […]

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Customer Sues Morgan Stanley For Unauthorized Trading

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

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

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Morgan Stanley Fires Broker For Unauthorized Trading

August 02, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Michael Frank Paesano, of New York, New York, a stockbroker registered with Morgan Stanley, was terminated from employment on December 21, 2016, based upon allegations that he effected faulty investment strategies and unauthorized trades in customer accounts. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Paesano has been identified in fifteen customer initiated investment […]

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Capital Guardian Stockbroker Suspended For Unauthorized Trading

July 29, 2017  |   Posted by :   |   Unauthorized Trading   |   0 Comments

Donald Lee Bergeron, of Charlotte, North Carolina, a stockbroker formerly registered with Capital Guardian, 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 placed unauthorized trades in a customer’s account. Letter of Acceptance, Waiver and Consent, No. […]

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Courtlandt Securities Stockbroker Suspended For Unauthorized Trading

July 29, 2017  |   Posted by :   |   Unauthorized Trading   |   0 Comments

Darin Richard Pastor, of Irvine, California, a stockbroker formerly registered with Courtlandt Securities Corporation, has been fined $15,000.00 by the State of Hawaii based upon consenting to findings that he engaged in unauthorized securities transactions during the time that he was not registered to effect securities sales. SEU-2014-11 (Dec. 23, 2015). Pastor was also fined […]

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Morgan Stanley Stockbroker Suspended For Unauthorized Trading

July 29, 2017  |   Posted by :   |   Unauthorized Trading   |   0 Comments

Joel David Davidman, of Beverly Hills, California, a stockbroker formerly 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 he effected trades in twenty-seven customer accounts despite lacking authorization from the customers and the firm. […]

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Raymond James Stockbroker Fired For Unauthorized Trading

July 29, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

James Edward Lyons, of Shreveport, Louisiana, a stockbroker for Raymond James & Associates, Inc., was terminated from employment on April 28, 2017, based upon a customer’s allegations that Lyons effected trades in the customer’s investment account despite failing to first gain proper authorization from the customer. In response to his denial of any misconduct, his […]

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Morgan Stanley Stockbroker Suspended For Unauthorized Loans

July 29, 2017  |   Posted by :   |   Customer Loans, Unauthorized Trading   |   0 Comments

Jaime Hazael Aguilar, of San Diego, California, a stockbroker formerly registered with Morgan Stanley, has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member based upon consenting to findings that he entered into unauthorized loan arrangements with the firm’s customers. Letter of Acceptance, Waiver and Consent, No. 2016050297702 (July […]

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Wells Fargo Stockbroker Sanctioned For Unauthorized Trading

July 29, 2017  |   Posted by :   |   Unauthorized Trading   |   0 Comments

Frank A. Tegge, of East Lansing, Michigan, a stockbroker formerly registered with Wells Fargo Advisors, LLC, has been fined $10,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he placed unauthorized transactions in a customer’s investment account. Letter of Acceptance, Waiver and […]

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Wells Fargo Named In Suitability Complaint

July 28, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Jason Travis Turner, of Bedford, Virginia, a stockbroker formerly registered with Wells Fargo Advisors, LLC, is the subject of a customer initiated investment related written complaint on March 21, 2017, in which the customer requested an estimated $5,000.00 in damages based upon allegations that Turner effected unauthorized and unsuitable transactions in the customer’s account in […]

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Joseph Stone Capital Arbitration For Unauthorized Trading

July 28, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Phillip Carl Contino Jr., of Hauppauge, New York, a stockbroker currently registered with Joseph Stone Capital L.L.C., is the subject of a customer initiated investment related written complaint on April 28, 2015, in which the customer requested $51,000.00 in damages based upon allegations that he made misrepresentations and omissions to the customer, and effected transactions […]

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Regulator Charges UBS Financial Services Stockbroker With Unauthorized Trading

July 28, 2017  |   Posted by :   |   Unauthorized Trading   |   0 Comments

Robert Baldwin Del Guercio, of Iselin, New Jersey, a stockbroker formerly registered with UBS Financial Services Inc., was charged by Financial Industry Regulatory Authority (FINRA) in a Complaint alleging that he, inter alia, effected unauthorized securities transactions in a customer’s account. Department of Enforcement v. Robert Baldwin Del Guercio, No. 2013038393601 (June 29, 2017). According […]

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Wells Fargo Broker Sanctioned For Unauthorized Trading

July 05, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

John Arthur Dettelbach, of Pepper Pike, Ohio, a stockbroker currently registered with Wells Fargo Advisors, 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 effected unauthorized transactions in customer accounts. Letter of Acceptance, Waiver and Consent, No. […]

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Another UBS Financial Customer Sues Over UBS AG Misrepresentations

Ankit Sahu, of San Francisco, California, a stockbroker formerly registered with UBS Financial Services Inc., has been named in a customer initiated investment related arbitration claim on April 28, 2017, in which the customer requested $500,000.00 in damages based upon allegations that he effected unsuitable transactions in the customer’s investment account, and misrepresented UBS AG […]

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Edward Jones Stockbroker Suspended For Unauthorized Trading

July 05, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Jon Timothy VanSlooten, of Toledo, Ohio, a stockbroker formerly registered with Edward Jones, has been fined $7,500.00 and suspended for three months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he effected trades in customer accounts without authorization. Letter of Acceptance, Waiver and Consent, […]

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Morgan Stanley Smith Barney Stockbroker Sanctioned

July 05, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Rafael Barela Jacinto, of New York, New York, a stockbroker formerly registered with Morgan Stanley Smith Barney, has been fined $10,000.00 and suspended for one year from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity pursuant to an Office of Hearing Officers Decision & Order of Offer of Settlement containing findings […]

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Herbert J Sims Stockbroker Sanctioned For Unauthorized Trading

July 03, 2017  |   Posted by :   |   Bond Fraud, Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Larry Charles Wolfe, of Boca Raton, Florida, a stockbroker formerly registered with Herbert J. Sims & Co. 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 trades in customer accounts without authorization. Letter of Acceptance, Waiver […]

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Stifel Nicolaus Stockbroker Sanctioned For Unauthorized Trading

July 03, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Donald Lee Stark, of Waterloo, Iowa, a stockbroker currently registered with Stifel, Nicolaus & Company, Incorporated, 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 trades in a customer’s account without the customer’s consent. Letter of Acceptance, […]

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LPL Financial Stockbroker Fired for Misconduct

July 03, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Angelo Talebi, of Sherman Oaks, California, a stockbroker formerly registered with LPL Financial Services, was terminated from employment on September 14, 2016, based upon allegations of his misconduct in the handling of his business activities. Less than a year prior to Talebi’s termination, he was fined $10,000.00 and suspended from associating with any Financial Industry […]

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Edward Jones Stockbroker Sanctioned For Unauthorized Trading

June 19, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Mark Stewart Saunders, of Monroe City, Missouri, a stockbroker currently registered with Edward Jones, 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 exercised discretion in customer accounts. Letter of Acceptance, Waiver and Consent, No. 2016048658302 (June 9, 2017). […]

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Merrill Lynch Stockbroker Barred In Investigation

June 19, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Blake P. King, of Atlanta, Georgia, a stockbroker formerly registered with Merrill Lynch, Pierce, Fenner & Smith, Inc., has been fined and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that King obstructed a FINRA investigation into allegations that he effected unauthorized trades in […]

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First Midwest Stockbroker Suspended For Unauthorized Trading

June 19, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Stephen James Sullivan, of Garden City, New York, 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 traded in two customers’ investment accounts on a discretionary basis. Letter of Acceptance, Waiver and Consent, No. 2014039219802 (Feb. 3, 2016). […]

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Wells Fargo Stockbroker Suspended For Unauthorized Trading

June 19, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Jeffrey Marc Grayson, of Florham Park, New Jersey, a stockbroker formerly registered with Wells Fargo Advisors, has been fined $10,000.00 and suspended for two months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he effected trades in customer accounts without authorization. Letter of Acceptance, […]

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Wells Fargo Advisors Complaint Alleges Unauthorized Trading

Jarrod Edward Biebel, of Marquette, Michigan, a stockbroker formerly registered with Wells Fargo Advisors, LLC, has been named in a customer initiated investment related written complaint on October 11, 2016, where the customer requested more than $5,000.00 in damages based upon allegations that Biebel effected unauthorized structured product transactions in the customer’s account. Financial Industry […]

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Morgan Stanley Stockbroker Charged With Fraud

June 19, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Kim Dee Isaacson, of Salt Lake City, Utah, a stockbroker formerly registered with Morgan Stanley, was charged by Financial Industry Regulatory Authority (FINRA) in a Complaint alleging that Isaacson made omissions and misrepresentations to a firm customer concerning transactions effected in the customer’s account, and traded in a customer’s account without authorization; conduct that FINRA […]

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Brookstone Securities Sued For Churning

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

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Voya Financial Stockbroker Fired For Cause

James Travis Flynn, of Greenville, South Carolina, a stockbroker registered with Voya Financial Advisors, Inc., has been terminated from employment on February 10, 2017, based upon allegations that he misled the firm in the course of the firm’s investigation of a complaint that involved Flynn’s activities. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that […]

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LPL Financial Stockbroker For Unauthorized Trading

June 13, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Stephen J. Kaufman, of Freehold, New Jersey, a stockbroker formerly registered with LPL Financial 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 effected trades in customer accounts without authorization. Letter of Acceptance, Waiver and Consent, No. […]

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Edward Jones Broker Suspended For Unauthorized Trading

June 08, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Laurence M. Rothstein, of Cumming, Georgia, a stockbroker formerly registered with Edward Jones, has been fined $10,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he effected unauthorized transactions in customer accounts and entered false customer account information into his firm’s records […]

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Wells Fargo Advisors Complaint Alleging Unauthorized Trading

June 08, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Alexandre Santos Leal, of Miami, Florida, a stockbroker formerly registered with Wells Fargo Clearing Services, has been named in a customer initiated investment related written complaint on April 13, 2017, in which the customer requested more than $5,000.00 in damages based upon allegations that during the time Leal was the customer’s financial advisor, he effected […]

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Northwestern Mutual Services Complaint Alleges Unauthorized Transactions

June 08, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Sampson Pearson Junior, of Charlotte, North Carolina, a registered representative formerly associated with Northwestern Mutual Investment Services, has been named in a customer initiated investment related written complaint on April 12, 2017, in which the customer requested more than $5,000.00 in damages based upon allegations that he effected unauthorized transactions in the customer’s account. FINRA […]

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Morgan Stanley Broker Terminated For Unauthorized Trading

May 30, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Peter Joseph Doyle, of Bethesda, Maryland, a stockbroker registered with Morgan Stanley Smith Barney, was terminated from employment on June 24, 2016, based upon allegations that he traded in customers’ investment accounts in a manner that violated the firm’s procedures and policies. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Doyle has been named […]

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Aegis Capital Corp Suspended For Unauthorized Trading

May 30, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

David Bruce Drucker, of New York, New York, a stockbroker formerly registered with Aegis Capital Corp, 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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LPL Financial Stockbroker Suspended For Unauthorized Trading

May 30, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

James Anthony Nelson, of Evans City, Pennsylvania, a stockbroker formerly registered with LPL Financial LLC, has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity by consenting to findings that he effected unauthorized transactions in customers’ accounts. Letter of Acceptance, Waiver and Consent, No. 2016050825301 (May […]

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SunTrust Investment Services Stockbroker Barred

May 25, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Timothy John Reed, of Bristow, Washington, a stockbroker formerly registered with SunTrust Investment Services, Inc., has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that he failed to provide a response to FINRA’s informational request. Letter No. 2016049929801 (Apr. 24, 2017). FINRA Public Disclosure also […]

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Garden State Securities Broker Suspended for Unauthorized Trading

May 25, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Terry Lee Brodt Jr., of Red Bank, New Jersey, a stockbroker currently registered with Garden State Securities, Inc., has been fined $10,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he effected trades in customer accounts on a discretionary basis, and failed […]

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National Securities Stockbroker Suspended For Unauthorized Trading

May 25, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Ralph Brian Marra, of Eatontown, New Jersey, a stockbroker currently registered with National Securities 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 he effected trades in customer accounts without authorization. Letter of Acceptance, Waiver and Consent, No. […]

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Customer Files Arbitration Claim Against NYLife Securities

May 18, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Jonathan Spencer Williams, of Timonium, Maryland, a stockbroker formerly registered with NYLife Securities LLC, has been named in a customer initiated investment related written complaint on February 6, 2017, in which the customer requested $37,901.22 in damages based upon allegations that Williams effected transactions in the customer’s account that may not have been authorized. Financial […]

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Customer Sues Merrill Lynch Alleging Unauthorized Trading

May 18, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Daniel P. Reilly, of New York, New York, a stockbroker formerly registered with Merrill Lynch, Pierce, Fenner & Smith Incorporated, has been named in a customer initiated investment related written complaint, which settled on January 25, 2017, for $16,727.00 in damages based upon allegations that he effected unauthorized mutual fund trades in the customer’s account. […]

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Securities Arbitration Filed Against Morgan Stanley Unauthorized Trading

May 18, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Edouard Yves Crepy, of Miami, Florida, a stockbroker currently registered with Morgan Stanley Smith Barney, has been named in a customer initiated investment related arbitration claim, which settled on July 27, 2016, for $93,385.00 in damages based upon allegations that Crepy placed unauthorized transactions in the customer’s account pertaining to Chesapeake Energy bonds, Direxion exchange […]

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Commonwealth Financial Network Stockbroker Suspended For Unauthorized Trading

May 18, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Voigt C. Kempson, of Sparta, New Jersey, a stockbroker formerly registered with Commonwealth Financial Network, 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 transactions in a customer’s account. Letter of Acceptance, Waiver and Consent, No. […]

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Raymond James Financial Services Stockbroker Suspended

May 18, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

William H. McWilliams, of Jefferson City, Missouri, a stockbroker formerly registered with Raymond James Financial Services, 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 effected transactions in customer accounts that were not authorized by customers. Letter […]

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Summit Brokerage Services Stockbroker Under Investigation

May 18, 2017  |   Posted by :   |   Churning, Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Craig Gary Langweiler of Newton, Pennsylvania, a stockbroker formerly registered with Summit Brokerage Services, Inc., was named in a Financial Industry Regulatory Authority (FINRA) Wells Notice, which indicated that a disciplinary action against Langweiler had been recommended by FINRA. Wells Notice No. 20140403477 (May. 1, 2017). The Notice indicated that from December of 2011 to […]

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Defunct Accelerated Capital Group Stockbroker Sanctioned

May 18, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Jeffrey L. Scheibner, of Irvine, California, a registered representative formerly associated with Accelerated Capital Group, has been fined $5,000.00 and suspended for three months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he effected trades in customer accounts without authorization. Letter of Acceptance, Waiver […]

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Voya Financial Advisors Stockbroker Fired For Unauthorized Trading

May 18, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Robert Daniel Witt, of Libertyville, Illinois, a stockbroker registered with Voya Financial Advisors, Inc., has been terminated from employment on October 14, 2016, based upon the firm’s allegations that transactions were effected by Witt in a customer account despite the customer never having provided Witt with authorization. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals […]

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Revere Securities Sued By Customer For Unauthorized Trading

May 18, 2017  |   Posted by :   |   Bond Fraud, Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Baris Dincer, of New York, New York, a stockbroker formerly registered with Revere Securities LLC, has been named in a customer initiated investment related written complaint on June 1, 2016, in which the customer requested $45,000.00 in damages based upon allegations that Dincer effected unauthorized corporate debt transactions in the customer’s account. Financial Industry Regulatory […]

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deVere USA Stockbroker Fired For Unauthorized Trading

May 18, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Andoni Yturralde, of New York, New York, a stockbroker registered with deVere USA Inc., has been terminated from employment on January 27, 2017, based upon allegations that Yturralde failed to cooperate with the procedures and policies of the firm, failed to effect trades in accordance with a customer’s instructions, and effected unauthorized equity transactions in […]

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Wells Fargo Stockbroker Barred In Investigation

May 05, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Hossein Amirriahei, of Los Angeles, California, a stockbroker formerly registered with Wells Fargo Advisors, LLC, has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that she failed to cooperate in an investigation into allegations of her unauthorized trading in customer accounts. Letter […]

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David Lerner Associates Stockbroker Suspended For Unauthorized Trading

May 05, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Neil Palazzo, of Syosset, New York, a stockbroker formerly registered with David Lerner and Associates, 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 transactions in customer accounts without authorization. Letter of Acceptance, Waiver and Consent, […]

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Customer Sues Wells Fargo Advisors For Unauthorized Trading

May 05, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Eric Alan Zakarin, of Westfield, New Jersey, a stockbroker formerly registered with Wells Fargo Advisors, has been named in a customer initiated investment related written complaint, which settled on June 28, 2016, for $3,719.53 in damages based upon allegations that Zakarin effected unauthorized mutual fund transactions in the customer’s account. Financial Industry Regulatory Authority (FINRA) […]

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FINRA Securities Arbitration Filed Against Edward Jones For Unauthorized Trading

Brian D. Addis, of Vandalia, Ohio, a stockbroker formerly registered with Edward Jones, has been named in a customer initiated investment related written complaint, which settled on January 5, 2017, for $1,966.95 in damages based upon allegations that Addis effected unauthorized equity transactions in the customer’s account in April of 2016. Financial Industry Regulatory Authority […]

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FINRA Securities Arbitration Filed Against Legend Securities

David Martin Martirosian, of Oyster Bay, New York, a stockbroker formerly registered with Legend Securities, Inc., has been named in a customer initiated investment related arbitration claim on June 11, 2015, in which the customer requested $10,696.00 in damages based upon allegations that Martirosian effected unauthorized over-the-counter equity transactions in the customer’s account. Financial Industry […]

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Waddell & Reed Stockbroker Fired For Unauthorized Trading

April 20, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

William Ferrell Albin, of Las Vegas, Nevada, a stockbroker registered with Waddell & Reed, Inc., has been terminated from employment on July 21, 2016, based upon allegations that he violated policies of the firm by exercising discretion in customer accounts without the customers’ written authorization. This is not the first time that Albin has been […]

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Cape Securities Stockbroker Suspended For Unauthorized Trading

April 20, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

David Khezri, of Holbrook, New York, a stockbroker formerly registered with Cape 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 he effected unauthorized trades in customer accounts. Letter of Acceptance, Waiver and Consent, No. 2015044589701 (Sept. […]

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Customer Files FINRA Arbitration Claim Against Aegis Capital Corp

Brian Kenneth Court, of Melville, New York, a stockbroker currently registered with Aegis Capital Corp., has been named in a customer initiated investment related written complaint on February 24, 2017, in which the customer requested $65,451.00 in damages based upon allegations that Court, from June of 2015 to November of 2016, churned the customer’s account, […]

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FINRA Arbitration Claim Against First Standard Financial For Unauthorized Trading

April 11, 2017  |   Posted by :   |   Boilerroom, Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Kenneth Leopold Williams, of Staten Island, New York, a stockbroker formerly registered with First Standard Financial Company LLC, has been named in a customer initiated investment related written complaint on January 5, 2017, in which the customer requested $100,000.00 in damages based upon allegations that Williams utilized the customer’s margin without consent, and effected unauthorized […]

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BancWest Investment Services Stockbroker Charged

April 10, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Corinne Renae Mittag, of Omaha, Nebraska, a stockbroker formerly registered with BancWest Investment Services Inc., has been charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement in a Complaint alleging that she effected an unauthorized transaction in a customer’s account and made false representations to her firm regarding the transaction. Department of Enforcement v. […]

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Customer Sues Morgan Stanley For Unauthorized Trading

March 31, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Richard Jay Bernstein, of Beverly Hills, California, a stockbroker formerly registered with Morgan Stanley, has been named in a customer initiated investment related arbitration claim on February 1, 2017, in which the customer requested $81,738.82 in damages based upon allegations that Bernstein placed unsuitable and unauthorized equity trades in the customer’s investment account. Financial Industry Regulatory […]

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Raymond James Financial Sued In Arbitration For Unsuitability

James Gilbert Blair, of Coronado, California, a stockbroker currently registered with Raymond James Financial Services, Inc., has been named in a customer initiated investment related arbitration claim on February 1, 2017, in which the customer requested $300,000.00 in damages based upon allegations that Blair effected unauthorized and unsuitable over-the-counter equities transactions in the customer’s account, […]

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Joseph Stone Stockbroker Charged With Fraud

March 31, 2017  |   Posted by :   |   Boilerroom, Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Frank Anthony Spadaro, of Mineola, New York, a stockbroker currently registered with Joseph Stone Capital L.L.C., has been named in a Notice of Proposed Agency Action and Opportunity for Hearing by the Office of the Commissioner of Securities and Insurance, Montana State Auditor, in which Spadaro was alleged to have utilized customers’ margin accounts in […]

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Wells Fargo Advisors Sued By For Unauthorized Trading

March 31, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Shahida Arunima Hossain, a stockbroker formerly registered with Wells Fargo Clearing Services, LLC, has been named in a customer initiated investment related written complaint on February 24, 2017, based upon allegations that Hossain invested the customer’s assets in a manner which exceeded the customer’s conservative investment objectives, and utilized margin in the customer’s investment account […]

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Oak Ridge Financial Stockbroker Suspended For Unauthorized Trading

March 30, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Phillip Hinze, of Golden Valley, Minnesota, a stockbroker formerly registered with Oak Ridge Financial Services Group, 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 trades in a customer’s investment account without authorization. Letter of Acceptance, […]

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Morgan Stanley Stockbroker Suspended For Unauthorized Trading

March 21, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Richard Alan Kern, of Beavercreek, Ohio, a stockbroker formerly registered with Morgan Stanley, 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 trades in customer accounts without authorization. Letter of Acceptance, Waiver and Consent, No. 20160502058-01 (Mar. […]

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Stifel Nicolaus Stockbroker Sanctioned For Unauthorized Trading

March 16, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Robert W. Berry, of Fairlawn, Ohio, a stockbroker currently registered with Stifel, Nicolaus & Company, Inc., has been fined and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that effected unauthorized trades in customer accounts. Letter of Acceptance, Waiver and Consent, No. 2015046243901 (Mar. 7, […]

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National Securities Stockbroker Barred For Unauthorized Trading

March 16, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Glenn McDowell, of New York, New York, a stockbroker formerly associated with National Securities Corporation, Inc., has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon a FINRA Office of Hearing Officers’ Default Decision containing findings that McDowell effected unauthorized trades in a customer’s account. Department of […]

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Cambridge Investment Research Sued By Customers

Brad C. Lawing, of Springfield, Missouri, a stockbroker currently registered with Cambridge Investment Research, Inc., has been named in a customer initiated investment related written complaint on January 19, 2017, in which the customer requested $8,500.00 in damages based upon allegations that Lawing failed to apprise the customer concerning the fees associating with the switching […]

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UBS Financial Services Sued for Unauthorized Trading

David Howard Fagenson, of Palm Beach, Florida, a stockbroker formerly registered with UBS Financial Services Inc., has been named in a customer initiated investment related written complaint on September 26, 2016, based upon allegations that from 2013 to 2016, Fagenson effected unauthorized trades in the customer’s account and failed to abide by the customer’s instructions […]

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Ameriprise Financial Services Stockbroker Barred

March 07, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Li-Lin Hsu, of Los Angeles, California, a stockbroker formerly registered with Ameriprise Financial Services, Inc., has been permanently barred from associating with any FINRA member in any capacity based upon consenting to findings that she failed to respond to FINRA’s information request. Letter No. 2015045016702 (Jun. 1, 2016). Financial Industry Regulatory Authority (FINRA) Public Disclosure […]

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Meyers Associates Stockbroker Suspended For Unauthorized Trading

February 27, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Joseph Albert Ambrosole, of New York, New York, a stockbroker formerly registered with Meyers Associates, L.P., 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 trades in customer accounts on an unauthorized basis. Letter of Acceptance, Waiver […]

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RBC Capital Markets Stockbroker Suspended For Unauthorized Trading

February 27, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Joseph Henry Murphy III, of Madison, Wisconsin, 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 traded in customer accounts on a discretionary basis in violation of his firm’s […]

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Philadelphia Stockbroker Suspended For Unauthorized Trading

February 27, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Larry Westly Farmbry, of Philadelphia, Pennsylvania, a stockbroker formerly registered with First Allied 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 he effected trades in customer accounts on a discretionary basis in violation of his firm’s […]

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Wells Fargo Advisors Stockbroker Barred By Regulators

February 27, 2017  |   Posted by :   |   Elder Abuse, Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Matthew Christopher Maczko, of Oak Brook, Illinois, a stockbroker formerly registered with Wells Fargo Advisors, LLC, has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he charged customers with excessive fees, and misled FINRA during his recorded testimony regarding the allegations […]

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Morgan Stanley Stockbroker Barred In Investigation

February 27, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Karen McKinley, of Manchester, New Hampshire, a stockbroker formerly registered with Morgan Stanley, has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that she obstructed a FINRA investigation into allegations of potential non-compliance regarding trading in customer accounts that was referenced by […]

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Cape Securities Stockbroker Terminated For Unauthorized Trading

February 14, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Joseph Patrick Fuller, of New York, New York, a stockbroker registered with Cape Securities, Inc., was terminated from employment on July 6, 2016, based upon allegations that Fuller effected unauthorized trades in a firm customer’s account. Financial Industry Regulatory Authority (FINRA) Public Disclosure also reveals that on March 7, 2013, at which time Fuller was […]

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Morgan Stanley Stockbroker Suspended For Unauthorized Trading

February 14, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Clarence Mark Tingle, of Lewes, Delaware, 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 he effected discretionary trades in customer accounts without authorization. Letter of Acceptance, Waiver and Consent, No. 2014042951501 […]

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Alexander Capital LP Sued by Customers for Sale of Unsuitable Investments

John Owen Slipek, of Staten Island, New York, a stockbroker currently registered with Alexander Capital, L.P., has been named in a customer initiated investment related arbitration claim on December 1, 2016, in which the customer requested $38,084.00 in damages based upon allegations that Slipek effected over-the-counter equity transactions in the customer’s account which were neither […]

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LPL Financial LLC Stockbroker Suspended For Unsuitable Trading

February 11, 2017  |   Posted by :   |   Churning, Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Steve Dale Heath, of Newport News, Virginia, a stockbroker formerly registered with LPL Financial, 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 effected trades in a customer’s account on an unsuitable and unauthorized basis. Letter of […]

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PFS Investments Stockbroker Suspended For Unauthorized Trading

January 26, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Daniel Staudacher, of Dallas, Texas, a stockbroker currently registered with PFS Investments 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 Staudacher, inter alia, effected unauthorized transactions in customer accounts. Letter of Acceptance, Waiver and Consent, No. 2016048603001 […]

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Spartan Capital Securities Named In Customer Securities Arbitration Complaint

Barry Jin, of New York, New York, a stockbroker formerly registered with Spartan Capital Securities, LLC, has been named in a customer initiated investment related written complaint on September 5, 2016, in which the customer requested $13,422.00 in damages based upon allegations that Jin effected options trades in the customer’s account without authorization. Financial Industry […]

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Edward Jones Stockbroker Suspended For Unauthorized Trading

January 19, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Cormean Thomas, of Houston, Texas, a stockbroker formerly registered with Edward Jones, was fined $15,000.00 and suspended for two years from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he effected unauthorized trades in customer accounts, failed to notify his firm regarding customer complaints, and made […]

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UBS Financial Services Stockbroker Fined For Unauthorized Trading

January 13, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Alfred William Valz, of Manasquan, New Jersey, a stockbroker formerly registered with UBS Financial Services Inc., has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity based upon consenting to findings that Valz placed unauthorized trades in the accounts of customers. Letter of Acceptance, Waiver […]

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Morgan Stanley Stockbroker Suspended For Unauthorized Trading

January 13, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

James Carolan Speno, of New York, New York, a stockbroker formerly registered with Morgan Stanley, has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity based upon consenting to findings that Spendo effected transactions in customer accounts without authorization. Letter of Acceptance, Waiver and Consent, […]

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Voya Financial Advisors Stockbroker Barred In Investigation

January 05, 2017  |   Posted by :   |   Churning, Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Rodger James Burskey, of Commerce Township, Michigan, a stockbroker formerly registered with Voya Financial Advisors, Inc., has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity based upon consenting to findings that he failed to cooperate with FINRA in its investigation into allegations that Burskey made unsuitable […]

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Merrill Lynch Stockbroker Terminated For Unauthorized Trading

January 05, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Brooke Ashley Clements, of Greenwood Village, Colorado, a stockbroker formerly registered with Merrill Lynch, Pierce, Fenner & Smith Incorporated, was terminated by the firm on May 1, 2015, based upon allegations that Clements effected transactions in customer accounts on a discretionary basis, when the firm did not authorize time and place based discretion to be […]

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Merrill Lynch Stockbroker Terminated From Employment For Unauthorized Trading

January 05, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Achilleas Psihudakis, of Bayside, New York, was terminated by his employer, Merrill Lynch, Pierce, Fenner & Smith Incorporated on April 16, 2015, based upon allegations that Psihudakis utilized discretion in customer accounts, which was conduct that his broker prohibited. FINRA Public Disclosure reveals that on August 15, 2016, Psihudakis’ securities registration with Maryland Securities Commissioner […]

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LPL Financial LLC Stockbroker Investigated For Suitability Violations

January 05, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Steve Dale Health, of Newport News, Virginia, a stockbroker formerly registered with Capital Securities Management, Inc., is currently the subject of a Financial Industry Regulatory Authority (FINRA) investigation which was launched on November 11, 2016, and focuses on allegations that Heath may have traded in customer accounts on a discretionary basis, and effected or recommended […]

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Coastal Equities Stockbroker Suspended For Unauthorized Trading

Frank J. Bodi, of Atlanta, Georgia, a stockbroker formerly registered with Coastal Equities, Inc., has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he effected trades in customer accounts without authorization. Letter of Acceptance, Waiver and Consent, No. 2014041310601 (Dec. […]

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Morgan Stanley Stockbroker Suspended For Unauthorized Trading

Robert Steven Beck, of Jenkintown, Pennsylvania, a stockbroker formerly registered with Morgan Stanley, has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that he effected discretionary trades in a customer’s account. Letter of Acceptance, Waiver and Consent, No. 2014042560001 (Dec. […]

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Popular Securities Stockbroker Suspended For Unauthorized Trading

December 24, 2016  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Manuel Mejia-Gomez, of San Juan, Puerto Rico, a stockbroker formerly associated with Popular Securities LLC, has been fined $15,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he effected transactions in customer accounts without authorization. Letter of Acceptance, Waiver and Consent, No. 2015044285701 […]

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Credit Suisse Securities Stockbroker Suspended For Unauthorized Trading

Kai Chen, of San Francisco, California, a stockbroker formerly registered with Credit Suisse Securities (USA) LLC, has been fined $10,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) in any capacity after consenting to findings that he exercised discretion in customer accounts without authorization. Letter of Acceptance, Waiver and Consent, No. 2013039280301 (Dec. […]

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LPL Financial Named In Customer Arbitration Alleging Unauthorized Trading

Brent Van Lott, of Orem, Utah, a stockbroker formerly registered with LPL Financial LLC, has been subject to a customer initiated investment related arbitration claim on January 26, 2016, in which the customer requested $2,015,000.00 in damages based upon allegations that Lott effected trades in the customer’s account without the customer’s authorization. On March 4, […]

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Thrivent Investment Management Stockbroker Suspended For Unauthorized Trading

December 17, 2016  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Matthew Niederbaumer, of Huron, South Dakota, a stockbroker currently registered with Thrivent Investment Management Inc., was fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he effected unauthorized trades in a customer’s account. Letter of Acceptance, Waiver and Consent, No. 2016050492401 (Dec. […]

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Peterson Investments Stockbroker Suspended For Unauthorized Trading

December 17, 2016  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Kevin Curry, of New York, New York, a stockbroker currently registered with Peterson Investments, Inc., has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that he effected unauthorized trades in a customer’s account. Letter of Acceptance, Waiver and Consent, No. […]

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Stifel Nicolaus Stockbroker Suspended For Unauthorized Trading

December 17, 2016  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

David Richard Shapiro, of New York, New York, a stockbroker currently registered with Stifel, Nicolaus & Company, Incorporated, has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he effected unauthorized trades in a customer account. Letter of Acceptance, Waiver and […]

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JJB Hilliard WL Lyons Stockbroker Suspended For Unauthorized Trading

December 17, 2016  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Tyson Jon Palyka, of Trenton, Michigan, a stockbroker formerly registered with J.J.B. Hilliard, 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 after consenting to findings that he effected trades in customer accounts without authorization. Letter of Acceptance, Waiver and Consent, No. […]

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LPL Financial Stockbroker Suspended For Unauthorized Trading

December 17, 2016  |   Posted by :   |   Annuity Schemes, Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Ronald F. Paull III, of Olyphant, Pennsylvania, a stockbroker formerly associated with LPL Financial LLC, has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he effected trades in customer accounts without authorization. Letter of Acceptance, Waiver and Consent, No. 2015046621101 […]

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UBS Financial Services Stockbroker Suspended For Unauthorized Trading

December 07, 2016  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Christopher James Conroy, of New York, New York, a stockbroker currently registered with UBS Financial Services, was fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he effected unauthorized discretionary trades in customer accounts. Letter of Acceptance, Waiver and Consent, No. 2015047589801 (Nov. […]

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Wells Fargo Advisors Stockbroker Suspended For Unauthorized Trading

Sven Bernhard Karlen, of Lebanon, New Hampshire, a stockbroker formerly registered with Wells Fargo Advisors, has been fined $15,000.00 and suspended for six months from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that he effected trades in customer accounts without authorization, mismarked order tickets, caused […]

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Ameriprise Financial Services Stockbroker Suspended For Unauthorized Trading

December 07, 2016  |   Posted by :   |   Stockbroker Fraud News, Suitability, Unauthorized Trading   |   0 Comments

John Burns, of Chesterfield, Missouri, a stockbroker formerly registered with Ameriprise Financial Services, Inc., has been fined $17,500.00 in damages and suspended for fourteen months from associating with any Financial Industry Regulatory Authority member in any capacity after consenting to findings that he effected unsuitable and unauthorized trades in customer accounts. Letter of Acceptance, Waiver […]

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PNC Investments Stockbroker Suspended For Unauthorized Trading

November 30, 2016  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Thomas E. Omark, of Erie, Pennsylvania, a stockbroker formerly associated with PNC Investments, was fined $15,000.00 and suspended for six months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he effected trades in customer accounts without authorization. Letter of Acceptance, Waiver and Consent, No. 2015047550801 […]

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Raymond James Financial Services Stockbroker Barred In Investigation

Emily Michelle Thompson, of Wauseon, Ohio, a stockbroker formerly associated with Raymond James Financial Services, Inc., has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that she failed to cooperate with FINRA in an investigation into allegations of unauthorized trading. Letter of Acceptance, […]

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Raymond James Stockbroker Fined For Unauthorized Trading

November 30, 2016  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Paul McLellan Alexander Jr., of Palm Beach Gardens, Florida, a stockbroker formerly registered with Raymond James & Associates, Inc., has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he effected transactions in customer accounts without authorization. Letter of Acceptance, Waiver […]

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Du Pasquier Stockbroker Charged With Fraud

November 30, 2016  |   Posted by :   |   Excessive trading, Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

James Larkin Powers of Atlanta, Georgia, a stockbroker formerly registered with du Pasquier & Co., Inc., has been charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement in a Complaint alleging, inter alia, that Powers converted customer funds. Department of Enforcement v. Powers, No. 2014041985401 (Nov. 15, 2016). According to the Complaint, Power was provided […]

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Legend Securities Stockbroker Suspended For Unauthorized Trading

November 29, 2016  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Michael S. Androulakis, of New York, New York, a stockbroker formerly registered with Legend Securities, Inc., has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that he effected a transaction in a customer’s account without authorization. Letter of Acceptance, Waiver […]

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Andrew Garrett Named In Customer Churning Claim

Wayne M. Raymond, of New York, New York, a former stockbroker with Andrew Garrett Inc., has been subject to a customer initiated investment related arbitration claim on February 12, 2015, which was settled for $8,600.00 in damages based upon the customer’s allegations that Raymond effected excessive and unauthorized trades in the customer’s investment account. FINRA […]

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Merrill Lynch Named In Customer Unauthorized Trading Claim

Joseph I. Yanofsky, of Greenwood Village, Colorado, a stockbroker formerly registered with Merrill Lynch, Pierce, Fenner & Smith, has been subject to a customer initiated investment related arbitration claim on August 27, 2015, in which the customer alleged that Yanofsky effected unauthorized transactions in the customer’s investment account. FINRA Public Disclosure reveals that Yanofsky has […]

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Wunderlich Securities Stockbroker Suspended For Unauthorized Trading

November 18, 2016  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Peter J. Neary, of Plymouth, Michigan, a stockbroker formerly with Wunderlich Securities, was fined $5,000.00 and suspended by Financial Industry Regulatory Authority (FINRA) after consenting to findings that he effected unauthorized discretionary trades in a customer’s account. Letter of Acceptance, Waiver and Consent, No. 2015044491201 (Nov. 3, 2016). Per the AWC, between July of 2012 […]

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Wells Fargo Advisors Stockbroker Suspended For Unsuitable Recommendation

Robert James Batchen, of Skokie, Illinois, a stockbroker formerly registered with Wells Fargo Advisors, LLC, was fined $15,000.00 and suspended for five months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he effected unauthorized discretionary trades and unsuitable transactions in a customer account. Letter of […]

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Raymond James Named In Customer Arbitration Alleging Unsuitability

November 02, 2016  |   Posted by :   |   Churning, FINRA Securities Arbitration, Unauthorized Trading   |   0 Comments

Debra Lambert, of The Villages, Florida, a stockbroker currently registered with Raymond James & Associates, Inc., has been named in a customer initiated investment related arbitration claim on February 13, 2015, in which the customer requested $326,515.64 in damages based upon allegations that Lambert effected excessive and unauthorized trades in the customer’s account, and made […]

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National Securities Corporation Stockbroker Charged With Obstructing Investigation

Glenn McDowell, of New York, New York, a stockbroker formerly associated with National Securities Corporation, Inc., was charged by Financial Industry Regulatory Authority (FINRA) in a Complaint alleging that McDowell effected unauthorized trades in a customer’s account. Department of Enforcement v. Glenn McDowell, No. 2013035902701 (Oct. 28, 2016). According to the Complaint, from May 24, […]

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Aegis Capital Corp Stockbroker Suspended For Unauthorized Trading

November 02, 2016  |   Posted by :   |   Stockbroker Fraud, Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Stephen Giannantonio, of New York, New York, a stockbroker with Aegis Capital Corp., was fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he engaged in unauthorized discretionary trading. Letter of Acceptance, Waiver and Consent, No. 2015047037401 (Oct. 4, 2016). According to the […]

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Next Financial Group Stockbroker Barred In Conversion Investifgation

Tye C. Williams, of Frisco, Texas, a stockbroker with Next Financial Group, Inc., was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member firm any capacity after he consented to findings that he obstructed an investigation into allegations that Williams converted funds from customers, effected transactions in customer accounts which were unauthorized, […]

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Customer Arbitration Claims Against WFG Investments

Jay Dee Jordan of Oklahoma City, Oklahoma, a stockbroker with WFG Investments, Inc., is the subject of a pending customer initiated investment related arbitration claim filed on July 13, 2016, in which the customer requested $42,000.00 in damages based upon allegations that Jordan of effected unsuitable and unauthorized investment transactions in the customer’s securities account. FINRA Public […]

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Legend Securities Sued for Unauthorized Trading

Marlon O. Cole, of New York, New York, a stockbroker formerly associated with Legend Securities, Inc., is the subject of a pending customer dispute filed in January against Legend Securities in which the customer has requested damages based upon allegations that Cole of effected unauthorized trades in the customer’s account. FINRA Public Disclosure records reveal that […]

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Laidlaw Sued by Customer for Sale of Unsuitable Investments

Joseph M. Fedorko Jr., of New York, New York, a stockbroker with Laidlaw & Company, Ltd. is subject to a customer dispute filed on August 8, 2016, in which he was alleged by the customer to be responsible for the customer’s investment losses on bond investments. Prior to this action, Fedorko was also subject to […]

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Dawson James Securities Named In Customer Arbitration For Misrepresentation

October 11, 2016  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Patrick H. Maddren, of Boca Raton, Florida, a stockbroker formerly associated with Dawson James Securities, Inc., became subject to a pending customer dispute from March 31, 2016, in which the customer has requested $1,000,000.00 in damages after alleging that Maddren made misrepresentations concerning investments to the customer, did not follow the customer’s instructions, engaged in […]

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Wells Fargo Stockbroker Suspended For Unauthorized Trading

September 16, 2016  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Barbara L. Bottoms, of Fairbanks, Arkansas, a stockbroker with Wells Fargo Advisors, LLC, was fined $17,500.00 and suspended for two years from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that she engaged in the unauthorized trading in customer accounts. Letter of Acceptance, Waiver and Consent, […]

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Aegis Capital Corporation Stockbroker Named in Multiple Claims

September 16, 2016  |   Posted by :   |   Stockbroker Fraud News, Suitability, Unauthorized Trading   |   0 Comments

Scott N. Hananel, of Melville, New York, is subject to a pending customer dispute from March 17, 2016, in which the customer requested $150,000.00 in damages in connection with allegations against Hananel of breach of fiduciary duty, the unauthorized use of margin in the customer’s account, overconcentration in investments which were unsuitable, and the unauthorized […]

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Morgan Stanley Stockbrokers Charged With Misrepresentations

September 16, 2016  |   Posted by :   |   Bond Fraud, Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

John Batista Bocchino and Rafael Barela Jacinto, of New York, New York, stockbrokers with Morgan Stanley Smith Barney, were charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement in a Complaint alleging that the individuals engaged in material misrepresentations and omissions concerning bond investments, unauthorized activity in connection with such, and falsified firm records. […]

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Owensboro Kentucky Stockbroker Barred In Investigation

September 09, 2016  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Robert S. Gleason, Sr., of Owensboro, Kentucky, a stockbroker with Ross, Sinclaire & Associates, LLC, was barred from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that he obstructed a FINRA investigation into allegations of his unauthorized trading in customer accounts. Letter of Acceptance, Waiver and […]

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Morgan Stanley Stockbroker Suspended For Unauthorized Trading

September 09, 2016  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Daniel John Meyers, of New Haven, Connecticut, a stockbroker with Morgan Stanley, was fined $10,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that he engaged in unauthorized  trading in customer accounts. Letter of Acceptance, Waiver and Consent, No. 2015048045501 (Aug. 19, 2016). […]

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Cape Securities Stockbroker Suspended For Unauthorized Trading

September 08, 2016  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Devindra Sukhram, of McDonough, Georgia, a stockbroker with Cape Securities, was suspended from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that he engaged in the unauthorized discretionary trading of customer accounts. Letter of Acceptance, Waiver and Consent, No. 2014041613501 (Aug. 17, 2016). According to the […]

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Citigroup Global Markets Stockbroker Suspended For Unauthorized Trading

August 25, 2016  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Hal Irving Marcus, of Buffalo Grove, Illinois, a stockbroker with Citigroup Global Markets, Inc., was fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that he engaged in the unauthorized discretionary trading in customer accounts. Letter of Acceptance, Waiver and Consent, No. […]

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Dawson James Stockbroker Suspended For Unauthorized Trading

August 25, 2016  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Steven Paul Colacurcio, of Boynton Beach, Florida, a stockbroker with Dawson James Securities, Inc., was fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he engaged in the unauthorized discretionary trading of customer accounts. Letter of Acceptance, Waiver and Consent, No. 2014043592102 […]

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Rockwell Global Capital Stockbroker Suspended For Unauthorized Trading

August 25, 2016  |   Posted by :   |   Boilerroom, House Stock Pump and Dump, Unauthorized Trading   |   0 Comments

Patrick William Lofaro, of Melville, New York, a stockbroker with Rockwell Global Capital LLC, was fined $10,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he engaged in the unauthorized discretionary trading in a customer account. Letter of Acceptance, Waiver and Consent, No. […]

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Wells Fargo Advisors Stockbroker Fined For Unauthorized Trading

Robert Tuffy, of East Brunswick, New Jersey, a stockbroker with Wells Fargo Advisors, LLC, was fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that he engaged in the unauthorized trading in a customer account. Letter of Acceptance, Waiver and Consent, No. […]

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Four Points Capital Partners Stockbroker Suspended For Unauthorized Trading

August 17, 2016  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Daniel Terry Fischer, of New York, New York, a stockbroker registered with Four Points Capital Partners LLC, was fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that he engaged in the unauthorized discretionary trading in customer accounts. Letter of Acceptance, Waiver […]

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Edward Jones Stockbroker Suspended For Unauthorized Trading

Seth David Lampman, of Osceola, Iowa, a stockbroker for Edward Jones, was fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that he engaged in unauthorized trading in customer accounts. Letter of Acceptance, Waiver and Consent, No. 2014042505601 (July 13, 2016). According […]

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Merrill Lynch Stockbroker Suspended For Unauthorized Trading

August 17, 2016  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Paul S. Plemenos of Sparta, New Jersey, a stockbroker with Merrill Lynch, Pierce, Fenner & Smith Incorporated, was fined $7,500.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that he engaged in unauthorized trading in customer accounts. Letter of Acceptance, Waiver and Consent, No. […]

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Ameriprise Financial Services Stockbroker Suspended For Unauthorized Trading

August 17, 2016  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Gary Delfino, of Bedminster, New Jersey, a stockbroker with Ameriprise Financial Services, Inc., was fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that he engaged in unauthorized discretionary trading in customer accounts. Letter of Acceptance, Waiver and Consent, No. 2015047790401 (July […]

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Center Street Securities Stockbroker Suspended For Unauthorized Trading

August 17, 2016  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Robert G. Simons, of Brooklyn, Connecticut, a stockbroker with Center Street Securities, Inc., was fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he engaged in unauthorized trading in customer accounts. Letter of Acceptance, Waiver and Consent, No. 2014041298501 (June 1, 2016). […]

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William H Murphy Fined For Unauthorized Trading

William H. Murphy & Co., Inc. and the firm’s president and chief compliance officer, William H. Murphy, were censured and fined by Financial Industry Regulatory Authority (FINRA) in connection with an Office of Hearing Officers’ Extended Hearing Panel Decision containing findings that the firm and Murphy sold securities that were not registered pursuant to the […]

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Shearson Financial Services Fined For Unauthorized Trading

Shearson Financial Services, LLC, headquartered in Boca Raton, Florida, was censured and fined $100,000.00 by Financial Industry Regulatory Authority (FINRA) after consenting to findings that the firm’s personnel had engaged in unauthorized discretionary trading and mismarking of order tickets. Letter of Acceptance, Waiver and Consent, No. 2015043417501 (June 21, 2016). According to the AWC, FINRA […]

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J.P. Morgan Securities Broker Suspended For Unauthorized Trading

David J. Sullivan of Boston, Massachusetts, a registered representative with J.P. Morgan Securities LLC, was fined $5,000 and suspended from association with any Financial Industry Regulatory Authority (FINRA) member in any and all capacities for fifteen days after consenting to findings that he engaged in unauthorized discretionary trading. Letter of Acceptance, Waiver and Consent No. […]

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Stockbroker Suspended Unauthorized Trading of Dead Customer’s Account

Alexander P. Brown, III, of Baltimore, Maryland, a stockbroker with Chaplin Davis, was fined $2,500.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he engaged in unauthorized discretionary trading in customer accounts. Letter of Acceptance, Waiver and Consent, No. 2015047883501 (July 22, 2016). […]

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Wells Fargo Advisors Stockbroker Barred In Investigation

August 08, 2016  |   Posted by :   |   Customer Loans, Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

James McCormick, Jr., of Harrisonburg, Virginia, a stockbroker with Wells Fargo Advisors, was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he failed to cooperate with a FINRA investigation into allegations stemming from customer complaints against McCormick. Letter of Acceptance, Waiver and Consent, […]

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Morgan Stanley Stockbroker Suspended For Unauthorized Trading

Armando Fernandez, of Miami Beach, Florida, a stockbroker with Morgan Stanley & Co. Incorporated, was fined $7,500.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that he engaged in unauthorized trading and mismarked order tickets. Letter of Acceptance, Waiver and Consent, No. 2013038283001 (May […]

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UBS Financial Services Stockbroker Charged With Unauthorized Trading

James P. Scullin, of Coral Gables, Florida, a stockbroker with UBS Financial Services Inc., was fined $15,000.00 and suspended for nine-months from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that he engaged in unauthorized discretionary trading. Letter of Acceptance, Waiver and Consent, No. 2014043554601 (May […]

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World Equity Group Stockbroker Suspended For Unauthorized Trading

Paul Frederick Valencia, of Temecula, California, a stockbroker with World Equity Group, Inc., was fined $5,000.00 and suspended for ten business days from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that he engaged in unauthorized discretionary trading in customer accounts. Letter of Acceptance, Waiver and […]

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Moloney Securities Broker Barred In Investigation

John R. McKinstry Jr., of Saint Louis, Missouri, was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that he failed to cooperate in an investigation into allegations of whether McKinstry engaged in unsuitable recommendations and unauthorized lending agreements with customers. Letter of Acceptance, […]

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Wells Fargo Stockbroker Suspended For Unsuitable Trading

Brett W. Burgesser, of Orlando, Florida, a stockbroker with Wells Fargo Advisors, LLC, was fined $5,000.00 and suspended for sixty-days from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he engaged in the unsuitable switching of mutual funds in customer accounts. Letter of Acceptance, Waiver and […]

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Wells Fargo Advisors Broker Sanctioned for Unauthorized Trading

May 06, 2016  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Apostolos Nicholas Papadea, of Columbia, South Carolina, a registered representative with Wells Fargo Advisors, was fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member firm after consenting to findings that he engaged in unauthorized discretionary trading in customer accounts. Letter of Acceptance, Waiver and Consent, No. 2015048044301 (Apr. 19, 2016). […]

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Dahl Suspended For Outside Business Activities

George Dahl, of New York, New York, a stockbroker with Newport Coast Securities, was fined $20,000.00 and suspended for nine months from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that he engaged in unauthorized outside business activities; placed unauthorized trades in a customer’s account; and […]

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Waddell Reed Stockbroker Suspended For Unauthorized Trading

Steven D. Ridgley, of Louisville, Kentucky, a stockbroker with Waddell & Reed, was fined $10,000.00 and suspended for two months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he engaged in unauthorized discretionary trading in customer accounts. Letter of Acceptance, Waiver and Consent, No. 2014043025703 […]

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Merrill Lynch Stockbroker Suspended For Unauthorized Trading

Giustino Destefano, of Williamsville, New York, a stockbroker with Merrill Lynch, was fined $10,000.00 and suspended for three months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he engaged in unauthorized discretionary trading and mismarked customers’ order tickets as unsolicited. Letter of Acceptance, Waiver and […]

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Triad Advisors Tolmacs Barred In Investigation

Christopher Thomas Tolmacs of Portage Michigan, was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he failed to cooperate with a FINRA investigation into allegations that Tolmacs engaged in unauthorized transactions with customers, made misleading statements in connection with such, and potentially converted customer […]

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Merrill Lynch Stockbroker Suspended For Unauthorized Trading

Harold Joseph Petro, of Indianapolis, Indiana, a stockbroker with Merrill Lynch, was fined $15,000.00 and suspended for six months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he engaged in unauthorized discretionary trading in customer accounts. Letter of Acceptance, Waiver and Consent, No. 2014040640101 (Mar. […]

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RBC Capital Stockbroker Suspended For Unauthorized Trading

Robert O’Keef, of Milwaukee, Wisconsin, a stockbroker with RBC Capital Markets, LLC, was fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that he engaged in unauthorized discretionary trading in customer accounts. Letter of Acceptance, Waiver and Consent, No. 2014040938602 (Feb. 23, […]

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Edward Jones Stockbroker Suspended For Unauthorized Trading

Derek Prater, of Baytown, Texas, a stockbroker with Edward D. Jones & Co., L.P., was fined $17,500.00 and suspended for two years from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he engaged in unauthorized trades in customer accounts; and misled his firm in the course […]

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Accelerated Capital Group Stockbroker Barred For Fraud

Bahram Mirhashemi, of Irvine, California, a stockbroker registered with Accelerated Capital Group, Inc., was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he had engaged in unauthorized and excessive trading, churning, and unsuitable recommendations. Letter of Acceptance, Waiver and Consent, No. 2012033566201 (Feb. […]

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Edward Jones Broker Suspended For Unauthorized Trading

February 24, 2016  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

James P. Hilty, Jr., from Ocala, Florida, as stockbroker for Edward Jones, was fined $5,000.00 and suspended for forty-five days from association with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that he engaged in unauthorized discretionary trading. Letter of Acceptance, Waiver and Consent, No. 2014041875801 (Jan. 29, […]

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Summit Brokerage Services Stockbroker Suspended For Unauthorized Trading

February 23, 2016  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Clay Emerson Hoffman, of Brunswick, Georgia, a stockbroker with Summit Brokerage Services, Inc., was fined $5,000.00 and suspended for fifteen days from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he engaged in unauthorized discretionary trading in a customer account. Letter of Acceptance, Waiver and Consent, […]

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Wunderlich Securities Stockbroker Suspended For Unauthorized Trading

Merid Amde of Troy, Michigan, a stockbroker with Wunderlich Securities, was fined $20,000.00 and suspended for three months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity per an Order Accepting Offer of Settlement containing findings that Amde engaged in unauthorized discretionary trading, mismarking order tickets as solicited, falsification of records, […]

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Wells Fargo Stockbroker Suspended for Unauthorized Trading

February 12, 2016  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Michael J. Mularski of Mequon, Wisconsin, a stockbroker with Wells Fargo Advisors, LLC, was fined $12,500 and suspended for six months from associating with any Financial Industry Regulatory Authority (FINRA) member firm in all capacities after consenting to findings that he engaged in discretionary trading and unauthorized trading. Letter of Acceptance, Waiver and Consent, No. […]

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Another Waddell Reed Broker Suspended for Unauthorized Trading

Michael D. Rasmovich of Louisville, Kentucky, a stockbroker with Waddell & Reed, was fined $10,000 and suspended from association with any Financial Industry Regulatory Authority (FINRA) member in any and all capacities for two months after consenting to findings that he exercised discretion in eighty customer accounts without prior written authorization from the customers or […]

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Waddell Reed Broker Suspended for Discretionary Trading

Carlos Benavidez, Jr., of Louisville, Kentucky, a stockbroker with Waddell & Reed, was fined $10,000 and suspended from association with any Financial Industry Regulatory Authority (FINRA) member in any and all capacities for two months after consenting to findings that he exercised discretion in eighty customer accounts without prior written authorization from the customers or […]

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WFG Financial Supervisor Suspended for Failure to Supervise

Carl W. Busch of Oklahoma City, Oklahoma, a Stockbroker with WFG Financial, was fined $5,000 and suspended in all principal capacities from association with any Financial Industry Regulatory Authority (FINRA) member firm after consenting to findings that he failed to adequately supervise the sales practice of Larry Michael Crabtree, a Stockbroker of WFG, who had […]

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J.P. Morgan Securities Suspended for Unauthorized Trading

William W. Brown of Beverly Hills, California, a stockbroker with J.P. Morgan Securities LLC, was fined $10,000 and suspended from association with any Financial Industry Regulatory Authority (FINRA) member firm in all capacities for fifteen business days, and ordered to pay a customer restitution in the amount of $1,473.88 pus prejudgment interest after consenting to […]

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Marlton New Jersey Stockbroker Suspended for Unauthorized Trading

Barry David Abrams of Marlton, New Jersey, a registered representative with Securities Service Network, Inc., was fined $5,000 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any and all capacities for a period of fifteen business days after consenting to findings that he had engaged in unauthorized discretionary trading in […]

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Pariter Securities Fined for Failure to Supervise

Pariter Securities, LLC, headquartered in Guaynabo, Puerto Rico, was censured and fined $10,000 by Financial Industry Regulatory Authority (FINRA) after consenting to findings that the firm had failed to adequately establish, maintain and enforce a supervisory system and written supervisory procedures to prevent its registered representatives from exercising discretionary power in customer accounts prior to […]

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Garden State Securities Stockbroker Suspended For Unsuitable Recommendations

Adam R. Tau of New York, New York, a registered representative with Garden State Securities, Inc., was fined $7,500 and suspended from association with any Financial Industry Regulatory Authority (FINRA) member in any and all capacities for two months after consenting to findings that Tau had made unsuitable recommendations and engaged in discretionary trading. Letter […]

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J.P. Morgan Securities Broker Suspended For Unauthorized Trading

David J. Sullivan of Boston, Massachusetts, a registered representative with J.P. Morgan Securities LLC, was fined $5,000 and suspended from association with any Financial Industry Regulatory Authority (FINRA) member in any and all capacities for fifteen days after consenting to findings that he engaged in unauthorized discretionary trading. Letter of Acceptance, Waiver and Consent No. […]

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The Investment Center Broker Suspended for Unauthorized Transactions

Leon William Vaccarelli of Waterbury, Connecticut, a registered representative with The Investment Center, Inc., was fined $7,500 and suspended for one month from associating in any and all capacities with any Financial Industry Regulatory Authority (FINRA) member firm after consenting to findings that Vaccarelli exercised unauthorized discretion in customer accounts. Letter of Acceptance, Waiver and […]

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Buell Securities Corp Broker Suspended for Unauthorized Trading

November 25, 2015  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

William A. Sloane of Glastonbury, Connecticut, a registered representative with Buell Securities Corp., was fined $5,000 and suspended from association with any Financial Industry Regulatory Authority (FINRA) member in all capacities for twenty days after engaging in unauthorized discretionary trading in customer accounts. Letter of Acceptance, Waiver and Consent, No. 2014042924501 (Nov. 3, 2015). According […]

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Merrill Lynch Stockbroker Barred in Unauthorized Trading Investigation

Liam Gerard O’Keeffe from Danbury, CT, a Stockbroker with Merrill Lynch, was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that he failed to provide information and documentation requested by FINRA in the course of their investigation into allegations that O’Keeffe exercised discretion […]

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Wells Fargo Advisors Broker Suspended for Churning

James G. Christianson from Portland, Oregon a Stockbroker with Wells Fargo Advisors, LLC, was suspended for fifteen days from association with all Financial Industry Regulatory Authority (FINRA) members and fined $10,000 after consenting to findings that he exercised discretion in three accounts of a customer without obtaining written authorization from the customer and without written […]

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Northwestern Mutual Stockbroker Suspended for Customer Misconduct

Michael DeMaria, a Stockbroker with Northwestern Mutual, was suspended from association with any Financial Industry Regulatory Authority (FINRA) member in all capacities for twenty months and fined $15,000 after consenting to findings that he caused a transfer of a firm client’s funds without her knowledge or consent, in violation of FINRA Rule 2010. Letter of […]

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UnionBanc Broker Suspended for Unauthorized Trading

Armen Bahadourian, a registered representative with UnionBanc Investment Services, LLC, was suspended from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacities for eighteen months in addition to being fined $10,000 and disgorged of $6,880.75 in commissions after consenting to findings that he executed fifteen unauthorized transactions in the accounts of […]

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Edward Jones Broker Barred In Unauthorized Trading Investigation

Daniel Gregory Retzke, a registered representative with Edward D. Jones & Co., L.P., was permanently bared from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after failing to provide information and documentation requested by FINRA in connection with an investigation into Retzke’s alleged private securities offerings. Letter of Acceptance, Waiver, […]

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Dawson James Securities Broker Barred for Obstructing Investigation

Aldo Comuzzi, a registered representative with Dawson James Securities Inc., was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that he failed to cooperate with a FINRA investigation in connection with allegations that Comuzzi improperly utilized discretion without written approval in certain of […]

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Ameriprise Financial Broker Barred for Obstructing Investigation

Bart James Ellis, a registered representative with Ameriprise Financial Services, Inc., was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) firm in any capacity after FINRA’s Office of Hearing Officers rendered a Default Decision finding that Ellis had falsified customer account documents, exercised unauthorized discretion in a customer’s account, and failed to […]

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Great Circle Financial Representative Charged with Unsuitable Recommendations

Jordon S. Trice, a registered representative with Great Circle Financial, was charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement in a Complaint containing allegations that Trice had effected options transactions in an account that was not approved for options trading. Department of Enforcement v. Trice, No. 2012030670603. According to the Complaint, from January […]

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Ladenburg Thalman Broker Barred for Obstructing Investigation

September 28, 2015  |   Posted by :   |   Stockbroker Fraud, Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Edmond J. Harris, a registered representative with Ladenburg Thalman & Co. Inc., was permanently barred from association with any Financial Industry Regulatory Authority (FINRA) member firm after consenting to findings that Harris failed to cooperate with an investigation into allegations that Harris engaged in improper discretionary trading in client accounts. Letter of Acceptance, Waiver, and […]

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Dynasty Capital PartnersPrincipal Barred for Obstructing Investigation

Raymond Clark, a principal with Dynasty Capital Partners, Inc., was barred from associating with any Financial Industry Regulatory Authority (FINRA) member in all capacities in accordance with an Order Accepting Offer of Settlement containing findings that Clark failed to provide on-the-record testimony in connection with an investigation into allegations that he had executed unauthorized and […]

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FSC Broker Barred Sale of Unregistered Securities

James E. Scott, a registered representative with FSC Securities Corp., was permanently barred from associating with any Financial Industry Regulatory Authority in any and all capacities via terms of an Order Accepting Offer of Settlement containing allegations that Scott had aided and abetted an individual in the sale and recommendation of certain unauthorized securities transactions, […]

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Wells Fargo Advisors Broker In Unautorized Trading Probe

Nicholas Harper, a registered representative with Wells Fargo Advisors, LLC, was permanently barred from the securities industry for life after consenting to findings that he failed to cooperate with an investigation into discretionary trading activities. Letter of Acceptance, Waiver, and Consent No. 2013038203401 (May 13, 2015). According to the AWC, Harper was employed with Wells […]

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Raymond James Broker Suspended for Unauthorized Trading

Tiffany Danielle Peacock-Asakawa, a former general securities representative with both Raymond James Financial Services, Inc. and Merrill Lynch, was suspended for 10 months from associating with any FINRA-regulated firm in any capacity, while also being subject to a $15,000 fine after consenting to FINRA findings that she had executed trades for customers without being licensed, […]

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Bennett Group Charged with Federal Securities Fraud

September 11, 2015  |   Posted by :   |   Churning, Stockbroker Fraud News, Suitability, Unauthorized Trading   |   0 Comments

The Securities and Exchange Commission brought an action against Bennett Group and its founder Dawn J. Bennett for federal securities fraud. Bennett and most employee associated with the Bennett Group are registered representatives of with Western International Securities, Inc. According to the SEC’s allegations, Bennett, made material misstatements and omissions regarding assets that were purportedly […]

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Barclays Capital Broker Barred by FINRA

Louis Anthony Tinoco Jr. formerly associated with Barclays Capital was barred from the securities industry for life as a result of his failure to cooperate with an investigation by the Financial Industry Regulatory Authority. FINRA’s Findings FINRA found that Tinoco during his association with Barclays Capital engaged in fraud by providing at least one customer […]

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Michigan Financial Advisor Barred For Failing to Appear in FINRA Investigation

August 03, 2015  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Kenneth Hornyak of Traverse City, MI, a former financial advisor and general securities representative with Stifel Nicolaus & Company, was barred from association with any FINRA-registered firm in all capacities after failing to appear for an on-the-record interview in connection with FINRA’s investigation into potential discretionary trading, unauthorized trading and unsuitable short-term trading in Unit […]

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