Articles Posted in Stockbroker Misconduct

On September 10, 2020, the Unites States Securities and Exchange Commission (SEC) filed a civil Complaint in U.S. District Court for the District of New Jersey against defendants RRBB Asset Management, LLC and Carl S. Schwartz. According to the “Summary” contained in the SEC’s Complaint, Schwartz engaged in “cherry picking,”…

Jeffrey Cohen (CRD: #2528929) is a registered broker and investment advisor currently employed by Moloney Securities Asset Management LLC (CRD#:282448) of Henderson, NV. His previous employers include Moloney Investment Advisory LLC (CRD#:282140) of Laguna Miguel, CA, Moloney Securities Co., Inc. (CRD#:38535) also of Henderson, and Western International Securities, Inc. (CRD#:39262),…

Dennis J. Murphy (a/k/a Dennis James Murphy) (CRD# 4840274), a previously-registered broker, has been barred from the securities industry by the Financial Industry Regulatory Authority (FINRA) for failing to appear for testimony in connection with a FINRA investigation concerning his employer’s supervision of potentially unsuitable trading. Failing to cooperate with…

Arthur Hoffman (a/k/a Arthur Stewart Hoffman, “Art S. Hoffman”, CRD# 3193754) has been barred from the securities industry following his failure to provide documents and information in a Financial Industry Regulatory Authority (FINRA) investigation into his suspension from employment for violation of company policies. Hoffman allegedly sold to his clients…

The SEC’s Division of Enforcement’s Retail Strategy Task Force and Office of Investor Education and Advocacy (OIEA) have released an investor alert encouraging investors to be careful when investing in offerings that are “broadly advertised”. Did you invest with an unregistered stockbroker? Investments take many forms; many securities are investments…

According to FINRA Disciplinary actions for August 2020, 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…

According to FINRA Disciplinary actions for August 2020, 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   Cynthia Barrera   Morgan Stanley Smith Barney   Morgan Stanley & Co. Incorporated   David…

According to FINRA Disciplinary actions for July 2020, 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   Joanna Abdelhadi…

The Securities and Exchange Commission (SEC) has charged former Morgan Stanley broker Michael Barry Carter with fraud for stealing from his customers, including an elderly client. The complaint filed by the SEC alleges that Carter, a currently-barred broker who was last registered with Morgan Stanley in their McLean, Virginia office,…

James McKinney is a barred broker who was last registered with Cetera Advisors in Tulsa, Oklahoma. McKinney’s record shows that in 2019 he was barred from associating with a FINRA member firm after he failed to comply with FINRA requests for information. Customer disputes on McKinney’s record allege misrepresentation, breach…