Articles Posted in Unsuitable Investment Advice

Silver Law Group is investigating former Michigan-based Transamerica Financial Advisors, Inc. (CRD# 16164) broker Harry C. Bennett (CRD# 2395555) after FINRA permanently barred the broker in connection with an investigation alleging excessive commissions and unsuitability. According to Bennett’s FINRA BrokerCheck report, FINRA permanently barred Bennett from selling securities to the…

Silver Law Group is investigating former Plano, Texas-based VSR Financial Services, Inc. (CRD# 14503) broker John H. Towers (CRD# 700221) due to an extraordinarily high amount of FINRA BrokerCheck disclosures alleging unsuitable recommendations and negligence. According to John H. Towers FINRA BrokerCheck report, Towers has 46 misconduct disclosures, most of which…

Silver Law Group is investigating former Clearwater, Florida broker Dennis M. Merritt (CRD# 1748115) after FINRA suspended him for four months and his employing firm terminated him for alleged unsuitable recommendations among other things. In March 2016, FINRA and Merritt entered into an order accepting offer of settlement (the “Order”). …

Former Dakota Securities International (“Dakota”) broker Christopher R. Mcnamee (CRD# 4271195) is under investigation for recommending unsuitable investments to his customers. The Financial Industry Regulatory Authority (“FINRA”) arbitration complaint, according to Mcnamee’s FINRA BrokerCheck report, alleges damages in the amount of $1 million.  Aside from unsuitable recommendations, the FINRA arbitration…

Silver Law Group is investigating Meyers Associates broker Matthew A. Siliato (CRD# 5062153) for recent allegations that he recommended clients unsuitable investments. Siliato’s Financial Industry Regulatory Authority (“FINRA”) BrokerCheck report indicates that the broker has nine misconduct disclosures. Siliato’s most recent complaint was filed on June 23, 2016.  The customer…

Newbridge securities advisor allegedly has conflict of interest between software company and his clients According to FINRA, Lawrence Michael LaBine is the subject of a disciplinary action pending against him after an alleged conflict of interest leading to several customer disputes. In his 29 years in the securities industry, LaBine…

Hedge fund firm owners agree to $5 million combined settlement On June 1, 2015 the Securities and Exchange Commission charged Greenwich, Connecticut-based AlphaBridge Capital Management and its two owners with fraudulently inflating the prices of securities in funds they managed. These inflated valuations caused the funds to pay higher management…

Silver Law Group is investigating Indiana-based stockbroker Thomas Buck, who earlier this week was barred by the Financial Industry Regulatory Authority (FINRA) from associating with any FINRA member firm and was accused by FINRA of improperly charging customers and engaging in unauthorized trading. Mr. Buck, a former top broker for…

James Edward Rooney Jr., of Carrollton, Texas, was fined by FINRA a total of $75,000, suspended from association with any FINRA member in any capacity for a total of two years and was suspended in any supervisory capacity for 18 months.  FINRA alleges that Rooney engaged in private securities transactions…

Silver Law Group is investigating Stephen Eldridge Ridgely, II who was suspended by FINRA for failing to respond to FINRA requests for information. Mr. Ridgely was registered with Ameriprise Financial Services, Inc.’s Plantation, Florida office from September 2012 through March 2014.  Prior to that time, he was registered with Merrill…