Articles Posted in Churning

After 7 complaints and millions in settlements, Doyle is suspended by FINRA According to a FINRA BrokerCheck report, Michael Doyle has received complaints from seven clients and was suspended for failing to comply with an arbitration award and to respond to the FINRA’s request to provide information concerning the status…

Excessive trading leads to $57K in commissions and $37K in losses for investors, among other allegations In August of 2015, FINRA permanently banned New York financial advisor Rasheed “Richard” Adams from associating or engaging with any firm associated with FINRA after allegations of excessive trading were filed. Adams also failed…

The firm, as well as its president and CCO, are charged with alleged churning, excessive trading and unsuitable recommendations Equinox Securities, as well as President Steven Michael Oliveira and CCO Chris Blaine Palkowitsch, were all charged by the FINRA Department of Enforcement in a specific complaint about allegations of excessive…

Michigan broker Kenneth Hornyak (“Hornyak”)(CRD# 2990144), was permanently barred by the Financial Industry Regulatory Authority (“FINRA”) and is no longer licensed to act as a broker, or otherwise associate with firms that sell securities to the public. Hornyak is barred from association with any FINRA member in any capacity. According…

Broker failed to respond to FINRA information requests after allegations of excessive trading in numerous customer accounts After 19 years in the securities industry, Antonio Costanzo has received a permanent bar from FINRA from acting in the capacity of a broker or other financial adviser, according to the FINRA website.…

Alert lists red flags and best practices for avoiding fraud A relatively recent increase in fraud schemes involving oil and gas ventures has caused the Securities and Exchange Commission to issue an investor alert that educates investors by bringing to their attention the possibility of fraudulent endeavors and the warning…

His most recent employing firm was expelled by FINRA in October After 22 years in the securities industry, FINRA permanently barred Peter Gouzos in February from acting as a broker or selling securities to the public. The final straw in a career full of customer dispute disclosures was his alleged…

According to FINRA Teutonico failed to observe high standards of commercial honor. According to the Financial Industry Regulatory Authority (FINRA) Broker Check website, broker Patrick Teutonico is once again in the spotlight. Over the course of 17 years in the securities industry, Teutonico has 10 disclosures to report. To provide…

The Silver Law Group has filed a securities arbitration claim before the Financial Industry Regulatory Authority (“FINRA”) on behalf of a family and a family business from South America alleging, among other things, that Dawson James failed to properly supervise one of its registered representatives, permitted an unsuitable investment strategy…

According to FINRA, Thomas Tedeschi has recently been named in a securities arbitration lawsuit against him and his former employer, Aegis Capital Corp., for making unsuitable investments, unauthorized trades, misrepresentations and excessive trading (churning), among other claims.  The assertions against him involve speculative securities that include penny stocks and Exchange…