Unregistered Securities

Archive | Unregistered Securities

TCM Stockbroker Barred By FINRA In Investigation

James Hal Heafner of Charlotte North Carolina a stockbroker formerly registered with Taylor Capital Management Inc. (now known as TCM Securities Inc.) has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that Heafner neglected to cooperate with FINRA during the time in which he was […]

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SEC Sustains Merrimac Sanctions For Failure To Supervise

Merrimac Corporate Securities and Robert G. Nash (Chief Compliance Officer) of Altamonte Springs Florida are subject of a Securities and Exchange Commission (SEC) Order which sustained in part Financial Industry Regulatory Authority (FINRA) National Adjudicatory Council’s sanctions against Merrimac and Nash based on findings of (1) Merrimac offering and selling securities that were neither registered […]

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Royal Alliance Sued By Investors For Stockbroker’s Sale Of Unregistered Securities

Darrin Barton Farrow of Rocky River Ohio a stockbroker formerly employed by Royal Alliance Associates Inc. is the subject of a customer initiated investment related arbitration claim in which the customer sought $250,000.00 in damages supported by allegations that the customer was sold unregistered securities during the time Farrow was associated with Royal Alliance Associates […]

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Allstate Stockbroker Investigated For Theft By FINRA

Jesse Gil III of Corpus Christi Texas a stockbroker currently registered with Allstate Financial Services LLC is the subject of a Financial Industry Regulatory Authority (FINRA) Wells Notice which indicated that FINRA Department of Enforcement should take disciplinary action against Gil supported by accusations that (1) Gil engaged in outside business activities without disclosing them […]

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SEC Bars Concorde Stockbroker For Fraud

Larry Steven Werbel of Chagrin Falls Ohio a stockbroker formerly registered with Concorde Investment Services LLC has been barred by Securities and Exchange Commission (SEC) from being a stockbroker or investment adviser representative or otherwise associating with securities broker dealers or investment advisories according to an Order Instituting Administrative Proceedings Pursuant To Investment Advisers Act […]

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Regulators Sanctions Cetera Stockbroker For Selling Away

Ken Alan Balser of Colorado Springs Colorado a stockbroker formerly employed by Cetera Advisors LLC is referenced in a Colorado Division of Securities Stipulation and Consent Order which revoked Balser’s sales representative licensure and investment adviser license based upon the Division’s findings that Balser sold investments to customers away from Cetera Advisors LLC. Case No. […]

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SEC Charges Comprehensive Asset Management Stockbroker With Fraud

Tamara Rae Steele of Pendleton Indiana a stockbroker formerly employed by Comprehensive Asset Management and Servicing (now known as APW Capital Inc.) and Chief Operating Officer of Steele Financial has been charged by Securities and Exchange Commission (SEC) in a Complaint alleging that Steele and Steele Financial made fraudulent investment recommendations to investors. Civil Action […]

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GF Investment Services Accused Of Selling Unregistered Securities

Christopher Grant Conness of Fort Lauderdale Florida a stockbroker formerly employed by G.F. Investment Services LLC is the subject of a customer initiated investment related written complaint on May 16, 2018 in which the customer requested $100,001.00 in damages founded on allegations that Conness and GF Investment Services LLC permitted or otherwise failed to prevent […]

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FINRA Suspends Garden State Broker In Investigation

Garland Sean James (also known as Gary James) of New York New York a stockbroker formerly employed by Garden State Securities Inc. has been suspended by Financial Industry Regulatory Authority (FINRA) in all capacities on December 7, 2018 founded on allegations that James failed to comply with the terms of FINRA Arbitration in which James […]

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FINRA Fines TriPoint For Failure To Supervise Restricted Stock Sales

March 15, 2019  |   Posted by :   |   Stockbroker Fraud News, Unregistered Securities   |   0 Comments

TriPoint Global Equities a brokerage firm headquartered in New York, New York, and Andrew Kramer (head of trading at TriPoint) have been sanctioned by Financial Industry Regulatory Authority (FINRA) according to an Order Accepting Offer of Settlement containing findings that the firm failed to supervise its securities transactions with a view towards complying with Securities […]

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SEC Bars MP Global Broker For Fraud

Lee Dana Weiss of San Juan Puerto Rico a stockbroker formerly employed by MP Global Inc. and owner of Family Endowment Partners LP (FEP) has been barred by Securities and Exchange Commission (SEC) from being a broker or investment advisor or otherwise associating with brokers or investment advisories according to an SEC Order Instituting Administrative […]

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FINRA Sanctions Ditto Trade CEO For Failure to Pay Arbitration Award

Yosef Yehuda Fox (also known as Joseph J. Fox) of Chicago Illinois the Chief Executive Officer and Chief Compliance Officer employed by Ditto Trade Inc. has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on allegations that Fox failed to pay an Arbitration Award after having been […]

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Investors Sue TCM Securities For Massive Bond Fraud

James Hal Heafner (also known as Jim Heafner) of Charlotte North Carolina a stockbroker formerly registered with Taylor Capital Management Inc and former investment adviser representative of Retirement Wealth Advisors is the subject of a customer initiated investment related arbitration claim in which the customer requested $268,015.79 in damages founded on allegations that (1) inappropriate […]

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IFS Securities Broker Barred In Investigation

January 28, 2019  |   Posted by :   |   Stockbroker Fraud News, Unregistered Securities   |   0 Comments

Larry Phillip Vogel of Pittsford New York a stockbroker formerly employed by IFS Securities, Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon accusations that Vogel neglected to provide FINRA with information about his business activities possibly relating to allegations cited within Vogel’s discharge from […]

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FINRA Bars Principal Broker Caught Selling Away

Steven Eugene Bonner of Campbell California a stockbroker formerly employed by Principal Securities Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that Bonner neglected to comply with FINRA’s information requests. Case No. 2017052748201 (July 14, 2017). Evidently, FINRA made attempts at procuring information […]

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Despain Discharges Broker For Unapproved Investments

Jay R. Weiser of Collinsville Illinois a stockbroker formerly employed by Despain Financial Corporation has been discharged by the firm on June 22, 2018 based upon customers’ allegations that Weiser sold them life insurance products and regulation D investment products that were inappropriate for the customers. Financial Industry Regulatory Authority (FINRA) Public Disclosure additionally confirms […]

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FINRA Charges Spencer Edwards Broker With Fraud

September 27, 2018  |   Posted by :   |   Stockbroker Fraud News, Unregistered Securities   |   0 Comments

Timothy Tilton Ayre of New York New York a stockbroker formerly employed by Spencer Edwards Inc. has been charged by Financial Industry Regulatory Authority (FINRA) in a Complaint alleging that Ayre defrauded customers in reference to their investments in Rocky Mountain Ayre Inc. Department of Enforcement v. Timothy Tilton Ayre Disciplinary Proceeding No. 2016049307801 (Sept. […]

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Regulator Sanctions Meyers Broker For Unregistered Securities

September 12, 2018  |   Posted by :   |   Boilerroom, Stockbroker Fraud News, Unregistered Securities   |   0 Comments

John Natale Cucinella of New York New York a stockbroker formerly registered with Meyers Associates, L.P. and advisor employed by Mackrow Asset Management Group is referenced in a Alabama Securities Commission Cease and Desist Order based upon the Commission’s findings that Cucinella made unwarranted statements to a customer about investment returns and engaged the customer […]

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Glendale Broker Charged With Illegal Sale of Securities

September 12, 2018  |   Posted by :   |   Securities Fraud, Stockbroker Fraud News, Unregistered Securities   |   0 Comments

Jose Miguel Abadin of Sherman Oaks California a shareholder and equity trader of Glendale Securities Inc. has been charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement in a Complaint alleging that Abadin’s activities caused the firm to effect unlawful securities sales. Department of Enforcement v. Jose Miguel Abadin, Disciplinary Proceeding No. 2016049565901 (Oct. […]

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Signator Broker Investigated For Unregistered Securities

David Carl Ferwerda of Grand Rapids Michigan a stockbroker formerly employed by Signator Investors Inc. is referenced in a Michigan Department of Licensing and Regulatory Affairs investigation into accusations that Ferwerda sold securities to customers that were neither registered nor exempt from registration in the state. FINRA Public Disclosure reveals that Ferwerda has been discharged […]

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Regulator Bars Regal Broker For Unregistered Securities

May 01, 2018  |   Posted by :   |   Stockbroker Fraud News, Unregistered Securities   |   0 Comments

Raymond Dickie Adcock of Cabot Arizona a stockbroker formerly registered with Regal Securities Inc. has been barred in all capacities by the Arkansas Securities Commissioner supported by consenting to findings that he executed unauthorized liquidations and facilitated customers’ purchases that were not registered by Regal Securities. In the Matter of Raymond Dickie Adcock Case No. […]

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American Portfolios Broker Caught Selling Woodbridge Ordered To Cease

April 08, 2018  |   Posted by :   |   Stockbroker Fraud News, Unregistered Securities   |   0 Comments

Gary Arthur Forrest of Flint Michigan is a stockbroker formerly registered with American Portfolios Financial Services Inc. who is the subject of a Notice and Order to Cease and Desist issued by the State of Michigan Department of Licensing and Regulatory Affairs Corporations Licensing and Securities Bureau supported by accusations that Forrest offered or effected […]

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Customer Sues Mid Atlantic For Securities Fraud

April 06, 2018  |   Posted by :   |   Stockbroker Fraud News, Unregistered Securities   |   0 Comments

Mitchell Dean Simkins of Salt Lake City Utah is a stockbroker currently registered with Mid Atlantic Capital Corporation who is the subject of a customer initiated investment related civil action which settled for $370,000.00 in damages based upon accusations including (1) the offer and sale of unregistered securities through an entity which was not registered […]

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Sunbelt Securities Stockbroker Charged With Fraud

December 23, 2017  |   Posted by :   |   Selling Away, Stockbroker Fraud News, Unregistered Securities   |   0 Comments

James C. Tao and Donna Chen, of Houston Texas, stockbrokers and investment advisors formerly associated with Sunbelt Securities, were charged by Securities and Exchange Commission (SEC) in a Complaint alleging that Tao engaged in fraudulent securities transactions, and Tao and Chen offered and sold securities as unregistered brokers by selling away. Securities and Exchange Commission […]

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Customer Sues Ameriprise Financial For Suitability

November 21, 2017  |   Posted by :   |   Bond Fraud, Stockbroker Fraud News, Unregistered Securities   |   0 Comments

William Wesley Marshall of Plano, Texas, a stockbroker currently registered with Ameriprise Financial Services, Inc., is the subject of a customer initiated investment related arbitration claim, in which the customer requested $200,000.00 in damages based upon allegations of omissions and misrepresentations and unsuitable investment recommendations relating to the sales of unregistered corporate debt securities. FINRA […]

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Park Avenue Securities Sued For Sale of Unregistered Securities

November 20, 2017  |   Posted by :   |   Selling Away, Stockbroker Fraud News, Unregistered Securities   |   0 Comments

Lizabeth Gotuaco Ty of Houston, Texas, a stockbroker formerly registered with Park Avenue Securities LLC who is barred from the securities industry, is the subject of a customer initiated investment related arbitration claim, in which the customer requested $175,000.00 in damages based upon allegations that Ty effected unauthorized transactions by selling the customer a promissory […]

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Regulator Suspends Spencer Edwards President

August 31, 2017  |   Posted by :   |   Unregistered Securities   |   0 Comments

Gordon Douglas Dihle, of Centennial, Colorado, president and chief compliance officer with Spencer Edwards, Inc., has been fined $25,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any principal capacity according to an Office of Hearing Officers Order Accepting Offer of Settlement containing findings that the firm and Dihle, inter […]

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Hallmark Investments Sanctioned For Sale of Unregistered Securities

August 15, 2017  |   Posted by :   |   Stockbroker Fraud News, Unregistered Securities   |   0 Comments

William Howard Coons, of New York, New York, a stockbroker formerly registered with Hallmark Investments, Inc., has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity pursuant to a Decision and Order of Offer of Settlement containing findings that Coons sold securities that were not registered. […]

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Trustfirst Sanctioned For Misleading Investors

July 29, 2017  |   Posted by :   |   Private Placement Fraud, Unregistered Securities   |   0 Comments

Trustfirst Inc., a brokerage firm headquartered in Knoxville, Tennessee, has been censured and fined $15,000.00 by Financial Industry Regulatory Authority (FINRA) for providing customers with misleading investment information in reference to unregistered securities offerings. Letter of Acceptance, Waiver and Consent, No. 2014039420301 (June 28, 2017). According to the AWC, offering documents had been submitted by […]

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Wells Fargo Stockbroker Sanctioned By SEC

May 30, 2017  |   Posted by :   |   Stockbroker Fraud News, Unregistered Securities   |   0 Comments

Sylvester King Jr., of Fort Lauderdale, Florida, a stockbroker formerly registered with Wells Fargo Advisors, LLC, was subject of a Securities and Exchange Commission Administrative Order, in which King was ordered to cease and desist from causing future violations of Securities Exchange Act of 1934 Sections 15(a) and 17(a)(1), Rule 17a-4(b)(4), as well as Investment […]

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Wilson Davis Broker Named In SEC Cease And Desist Order

Ian Charles Kass, of Fort Lauderdale, Florida, a stockbroker formerly registered with Wilson-Davis & Co., Inc., has been identified in a Securities and Exchange Commission (SEC) Order Instituting Administrative and Cease-And Desist Proceedings based upon allegations that Kass aided and abetted securities fraud and facilitated the sale of unregistered securities. In the Matter of Delaney […]

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Hallmark Investments Charged With Unregistered Securities Sales

March 31, 2017  |   Posted by :   |   Stockbroker Fraud News, Unregistered Securities   |   0 Comments

Hallmark Investments, Inc., a broker-dealer headquartered in New York, New York, along with the firm’s chief executive officer, Steven G. Dash, president, Stephen P. Zipkin, and sales supervisor, William H. Coons, were charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement in a Complaint containing allegations of excessive mark-ups and unregistered securities sales. Department […]

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Viewtrade Securities Stockbroker Investigated

March 30, 2017  |   Posted by :   |   Stockbroker Fraud News, Unregistered Securities   |   0 Comments

Brian Marcus Herman, of Boca Raton, Florida, a stockbroker currently registered with Viewtrade Securities, has been identified in a Financial Industry Regulatory Authority (FINRA) investigation into whether Herman violated FINRA Rules 2010 and Securities Act of 1933 Section 5. Examination No. 20140404879 (Sept. 28, 2016). Section 5 of the Securities Act of 1933 relates to […]

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ACAP Financial Stockbrokers Sanctioned For Sale of Unregistered Securities

Kirk Lynn Ferguson, of Salt Lake City, Utah, president and chief compliance officer of ACAP Financial, and Gary Hume, of Salt Lake City, Utah, compliance officer of ACAP Financial, have been sanctioned by Financial Industry Regulatory Authority (FINRA) according to an Office of Hearing Officers’ Order Accepting Offer of Settlement containing findings that Ferguson and […]

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Viewtrade Securities Investigated For Unregistered Securities Sales

November 18, 2016  |   Posted by :   |   Stockbroker Fraud News, Unregistered Securities   |   0 Comments

Alan F. Pacella and Matthew Ronan, of Boca Raton, Florida, stockbrokers currently registered with Viewtrade Securities, Inc., have been subject to an investigation launched by Financial Industry Regulatory Authoirty (FINRA) on September 28, 2015, in which Pacella’s and Ronan’s conduct is being examined for potential violations of Securities Exchange Act of 1933 Section 5, as […]

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Dawson James Stockbroker Named In Customer Arbitration Claim

Carlo W. Corzine, of Boca Raton, Florida, a stockbroker with Dawson James Securities, Inc., has been named in a customer initiated investment related arbitration claim on June 22, 2016, in which the customer requested $60,000.00 in damages based upon allegations against Corzine of effecting unauthorized trades in the customer’s account, breaching his fiduciary duty, making […]

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Ridgeway Conger President and Chief Executive Officer Charged With Failure to Supervise

Leigh Garber, of New Woodstock, New York, president of Ridgeway & Conger, Inc., was fined $15,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any principal capacity per an Office of Hearing Officers’ Order Accepting Offer of Settlement containing findings that he failed to supervise mark-ups and unregistered securities sales. […]

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First American Securities Stockbroker Suspended For Lying

August 25, 2016  |   Posted by :   |   Selling Away, Stockbroker Fraud News, Unregistered Securities   |   0 Comments

Thomas J. Brenner, Jr., of Orrville, Ohio, a stockbroker with First American Securities, Inc., was fined $30,000.00 and suspended for sixteen months from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that he made misrepresentations and unsuitable recommendations with regard to private placement transactions. Letter of […]

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KCD Financial Fined For Unregistered Securities Sales

August 25, 2016  |   Posted by :   |   Stockbroker Fraud News, Unregistered Securities   |   0 Comments

KCD Financial, headquartered in De Pere, Wisconsin, was censured and fined $73,000.00 by Financial Industry Regulatory Authority (FINRA) per a National Adjudicatory Council Decision stating that the firm engaged in the sales of unregistered securities and failed to supervise staff who sold such unregistered securities. Department of Enforcement v. KCD Financial, Inc., No. 2011025851501 (Aug […]

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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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FCG Advisors LLC Fined For Unregistered Securities Sales

FCG Advisors LLC, headquartered in Chatham, New Jersey, was censured and fined $50,000.00 by the Financial Industry Regulatory Authority (FINRA) after consenting to findings that the firm sold securities that were not registered. Letter of Acceptance, Waiver and Consent, No. 2012030676501 (June 28, 2016). According to the AWC, from August 2011 through October 2011, the […]

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Merrill Lynch Broker Suspended For Private Securities Transactions

John L. Shockey, of Shreveport, Louisiana, a stockbroker with Merrill Lynch, Pierce, Fenner & Smith, Inc., was fined $15,000.00; disgorged of $70,070.00; and suspended for one year from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that he engaged in the participation of multiple unauthorized private […]

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MidAmerica Financial Services Fined for Failure to Supervise

MidAmerica Financial Services, located in Joplin, Missouri, was censured and fined $150,000 by Financial Industry Regulatory Authority (FINRA) after consenting to findings that the firm had failed to establish and maintain supervisory systems associated with placements and deferred variable annuities. Letter of Acceptance, Waiver and Consent, No. 2014039194101 (Jan. 30, 2016). FINRA canceled the firm’s […]

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Ridgeway and Conger and Chief Executive Officer Charged with Fraud

Ridgeway & Conger, Inc., stockbrokers Kenley Brisard and Philip Brisard, and the firm’s president Leigh Garber, all located in Woodstock, New York, were charged by the Financial Industry Regulatory Authority (FINRA ) in a nine count Complaint containing allegations of fraudulent misrepresentations and omissions of material fact in connection with customer purchases (Kenley and Philip […]

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