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$70 MILLION Recovery for Investment Fraud
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$25 MILLION Recovery Against National Brokerage Firm
$9.1 MILLION FINRA Arbitration Award Against Brokerage Firm
$7.9 MILLION Securities Arbitration Award Against Stockbroker
$1 MILLION Securities Arbitration Award for Elder Financial Fraud
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According to FINRA Disciplinary actions for November 2022, the following individuals were suspended from FINRA and cannot currently work for a FINRA brokerage firm for failing to provide FINRA with information it requested or to keep information current with FINRA pursuant to FINRA rules. However, these individuals remain bound by the securities arbitration agreement to arbitrate any disputes between themselves and their former customers:

NAME FORMER EMPLOYERS
  Michael Botrous
  Jaylon Briggs
  Johnnie Brown   PFS Investments Inc.
  Courtney Donella-Sheley   Voya Financial Advisors, Inc.
  ING Financial Advisers, LLC
  Austin Dutton Jr.   American Trust Investment Services, Inc.
  Primex
  Ciara Haro
  Monica Laguna   J.P. Morgan Securities LLC
  Yasmine Mercado
  Cory Tinsley   Farmers Financial Solutions, LLC
  AXA Advisors, LLC
  Khalil Watts   J.P. Morgan Securities LLC

Continue reading ›

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According to FINRA Disciplinary actions for November 2022, the following individuals were suspended from FINRA for failing to comply with a FINRA arbitration award or settlement agreement pursuant to FINRA rules:

NAME FORMER EMPLOYERS
  Carl Buhr   Wells Fargo Clearing Services, LLC
  Morgan Stanley
  Neil Fineman   First Allied Securities, Inc.
  Sagepoint Financial, Inc.
  Donald Heitz   LPL Financial LLC
  First Command Fianncial Planning, Inc.
  Tim Leissner   Goldman, Sachs & Co.
  Evan Schottenstein   J.P. Morgan Securities LLC
  Morgan Stanley
  Bruce Smith   The Sports Advisory Group, LLC
  UBS Financial Services Inc.
  David Weigel   Weigel Fiduciary Aset Management LLC
   RBC Capital Markets, LLC

Continue reading ›

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According to FINRA Disciplinary actions for November 2022, the following individuals were barred from FINRA and cannot currently work for a FINRA brokerage firm for failing to provide FINRA with information it requested or to keep information current with FINRA pursuant to FINRA rules:

NAME FORMER EMPLOYERS
  Chad Barancyk   Great Point Capital LLC
  First Allied Securities, Inc.
  Aren Blackwood
  Richard Carman   Ameriprise Financial Services, LLC
  LPL Financial LLC
  Jack Fascitelli   LEX
  John Molskness   Valic Financial Advisors, Inc.
  New England Securities
  Thomas Pfeiffer   MML Investors Services, LLC
  Chelsea Financial Services
  Emily Pich   Key Investment Services LLC
  Firasat Siddiqui   Ameriprise Financial Services, LLC
  IDS Life Insurance Company
  Cari Spicer   Cavu Securities LLC
  Triton Pacific Securities, LLC

Continue reading ›

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According to FINRA Disciplinary actions for October 2022, the following individuals were barred from FINRA and cannot currently work for a FINRA brokerage firm for failing to provide FINRA with information it requested or to keep information current with FINRA pursuant to FINRA rules:

NAME FORMER EMPLOYERS
  Darien Bonney   MML Investors Services, LLC
  NYLife Securities Inc.
  Jimmy Cheng   J.P. Morgan Securities LLC
  Merrill Lynch, Pierce, Fenner & Smith Incorporated
  Eddy Chou   Inspire Advisors, LLC
  Ameriprise Financial Services, LLC
  Kara Gagnon   Global Atlantic Distributors, LLC
  MetLife Investors Distribution Company
  Johana Jimenez
  Derick Stickland   Allstate Financial Services, LLC

Continue reading ›

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According to FINRA Disciplinary actions for October 2022, the following individuals were suspended from FINRA for failing to comply with a FINRA arbitration award or settlement agreement pursuant to FINRA rules:

NAME FORMER EMPLOYERS
  Todd Kalish   Park Edge Advisors, LLC
  McDonald Partners LLC
  Nicolas Lumermann   Morgan Stanley
  Credit Suisse Securities (USA) LLC
  Jeff McElroy   BOK Financial Securities, Inc.
  LPL Financial LLC
  Kevin NcNeil   SW Financial
  Joseph Gunnar & Co., LLC
  Alex Salcedo   Scottrade, Inc.
  Wells Fargo Clearing Services, LLC
  Francisco Valenzuela   Morgan Stanley
  Merrill Lynch, Pierce, Fenner & Smith Incorporated

Continue reading ›

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According to FINRA Disciplinary actions for October 2022, the following individuals were suspended from FINRA and cannot currently work for a FINRA brokerage firm for failing to provide FINRA with information it requested or to keep information current with FINRA pursuant to FINRA rules. However, these individuals remain bound by the securities arbitration agreement to arbitrate any disputes between themselves and their former customers:

NAME FORMER EMPLOYERS
  Tony Bell   SCF Securities, Inc.
  Liberty Partners Financial Services, LLC
  Matthew Black   J.P. Morgan Securities LLC
  Jay Dougall   Principal Securities, Inc.
  Waddell & Reed
  Edgar Garcia   J.P. Morgan Securities LLC
  Chase Investment Services Corp
  Roger Hickman   State Farm VP Management Corp.
  Jamie Lemon
  Linda Leong   Valic Financial Advisors, Inc.
  National Planning Corporation
  Donald Nelson   Wedbush Securities Inc.
  First Wall Street Corp.
  Michael Richie   Fidelity Brokerage Services LLC
  Edward Von der Schmidt   Morgan Stanley & Co. LLC
  RBC Capital Markets, LLC
  Cedric Wade   LPL Financial LLC
  National Planning Corporation

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What do you do when your company is shut down after two federal investigations? If you’re “serial entrepreneur” Jeffrey Santulan, you just start another company and keep going. Santulan, also known as “Jeffrey Hill” and “Jeffrey Ikhan,” and his company, Safeguard Metals, LLC, were recently charged by the US Securities & Exchange Commission, the U.S. Commodity Futures Trading Commission, The Tennessee Attorney General’s Office and the Tennessee Department of Commerce & Insurance (TDCI) along with state securities regulators from 26 other states. Filed in the US District Court for the Central District of California, both complaints detail how the defendants convinced more than 450 investment customers to transfer funds from their retirement accounts with registered brokers into Safeguard’s self-directed IRAs to purchase precious metals. Some were convinced to use cash and credit to make the purchases.What do you do when your company is shut down after two federal investigations? If you’re “serial entrepreneur” Jeffrey Santulan, you just start another company and keep going.

Santulan, also known as “Jeffrey Hill” and “Jeffrey Ikhan,” and his company, Safeguard Metals, LLC, were recently charged by the US Securities & Exchange Commission, the U.S. Commodity Futures Trading Commission, The Tennessee Attorney General’s Office and the Tennessee Department of Commerce & Insurance (TDCI) along with state securities regulators from 26 other states. Continue reading ›

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Most investors believe their broker and broker-dealer have their best interests in mind when making recommendations. As we’ve reported many times in this blog, that’s not always the case. The SEC’s newest rule, called Regulation Best Interest, nicknamed Reg BI, is the latest in the effort to make the market a safe place for investors. Now, Reg BI has led to its first enforcement action. Silver Law Group represents investors in claims against selling broker-dealers for losses relating to GWG L Bonds and violations of Regulation Best Interest and other FINRA rules and regulations.Most investors believe their broker and broker-dealer have their best interests in mind when making recommendations. As we’ve reported many times in this blog, that’s not always the case. The SEC’s newest rule, called Regulation Best Interest, nicknamed Reg BI, is the latest in the effort to make the market a safe place for investors. Now, Reg BI has led to its first enforcement action. Continue reading ›

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Silver Law Group and Weinberg, Wheeler, Hudgins, Gunn & Dial (Weinberg Wheeler) recently won an arbitration award on behalf of an investor who suffered substantial losses investing in precious metals purchased through Safeguard Metals. After a week-long evidentiary hearing, the client was awarded more than $1,060,000, with interest accruing at over $100,000 per year. This represents a substantial recovery of virtually all of the investor’s losses. A copy of the award can be reviewed here - C.W. v. Safeguard Metals and Santulan Award. Amongst other findings, the arbitrator found that Respondent Safeguard and Santulan are alter egos and the award is joint and several between them. As the owner of Safeguard Metal’s, the arbitrator found that “Santulan developed and implemented Safeguard’s business plan” which Claimant’s alleged was akin to a boiler room operation.Silver Law Group and Weinberg, Wheeler, Hudgins, Gunn & Dial (Weinberg Wheeler) recently won an arbitration award on behalf of an investor who suffered substantial losses investing in precious metals purchased through Safeguard Metals. After a week-long evidentiary hearing, the client was awarded more than $1,060,000, with interest accruing at over $100,000 per year. This represents a substantial recovery of virtually all of the investor’s losses. Continue reading ›

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