Articles Posted in Stockbroker Misconduct

When Hurricane Maria landed in Puerto Rico, it caused devastation to the island’s infrastructure, crops, homes and power grid that will take many years to repair. But the damages to Puerto Rico include losses in municipal bonds and the mutual funds that hold them, which were close to default even…

A Financial Industry Regulatory Authority (FINRA) arbitration panel awarded a customer of Christopher Bennett of Hillard Lyons damages of $445,000 after the claimant alleged Bennett engaged in breach of fiduciary duty, unauthorized trading, suitability, churning, misrepresentation, omission of facts, common law negligence, fraud, failure to supervise, common law negligent supervision…

Laidlaw & Company financial advisor Patrick Maddren (CRD# 4665903) is the subject of a customer complaint for excessive trading and commissions. Maddren has been registered with Westpark Capital, Inc. in Fort Lauderdale, Florida since August 2017. Previously, he was registered with Laidlaw & Company in Fort Lauderdale, Florida from 2017…

Stifel Nicolaus & Company broker/adviser William Harrison is involved in a pending customer dispute. William Harrison has spent 29 years in the securities industry and has been registered with Stifel Nicolaus & Company in Boca Raton, Florida since 2009.  Palm Beach County is home to a large retirement community and…

Silver Law Group is investigating claims against UBS Financial Services (“UBS”) New York-based stockbroker James Dillon (“Dillon”). According to the Financial Industry Regulatory Authority (“FINRA”), Dillon’s FINRA BrokerCheck record shows a pending customer dispute alleging claims of unsuitable concentration in connection with the purchase of Puerto Rico municipal bonds. The…

Wells Fargo has disclosed a federal investigation into sales practice violations in customer 401(k)s after a whistleblower cited sales problems in customer accounts. Multiple potential violations are disclosed including improper referrals, excessive fees and undisclosed conflicts of interest.  In the current bull market, many investors did not appreciate the fees…

Former North Carolina-based Petersen Investments broker Joseph Cotter has been named in a FINRA Investigation and is currently not affiliated with any broker-dealer firm. Joseph Cotter was most recently registered with Petersen Investments in Charlotte, North Carolina (2016-2017). Previous registrations include Next Financial Group in Charlotte, North Carolina. According to…

Silver Law Group is investigating financial advisor Thomas Lawrence of Chapel Hill, Tennessee. FINRA recently brought a regulatory complaint against Lawrence regarding allegations that he borrowed $39,000 from an elderly customer, in violation of FINRA rules and he has failed to repay the loan. Thomas Lawrence was a financial advisor…

Silver Law Group is currently investigating former Royal Alliance Associates, Inc. financial advisor Mark Perry (CRD# 1219294) regarding unsuitable investment recommendations to elderly clients. Perry was registered with Independent Financial Group, LLC in Mt. Pleasant, South Carolina and with Cambridge Investment Research, Inc. in Mt. Pleasant, South Carolina. Previously, Perry…

Investment broker Angel Edgardo Aquino-Velez (CRD#: 2687333) is no longer working as a broker, according to FINRA. Velez was previously registered as a broker, with the last place of employment listed as Morgan Stanley (CRD# 149777). His name is also listed as “Angel Edgardo Aquino,” “Angel E AquinoVelez” and, “Angel…