Securities Arbitration Lawyers Blog

According to FINRA Disciplinary actions for February 2019, 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   Arizmendi, Jose…

According to FINRA Disciplinary actions for February 2019, 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   Grossman, Robert   David Lerner Associates, Inc   National Planning Corporation   Jacobowitz, Oded  …

The Wall Street Journal reported that Fidelity Investments is the subject of a Labor Department probe and a lawsuit by an investor in a T-Mobile 401(k) plan, regarding the disclosure of an “infrastructure fee” it charges mutual funds for using their FundsNetwork asset management platform. The lawsuit claims that Fidelity…

Broker Christoper Bice (CRD#: 3222439) is a currently-registered broker employed by SagePoint Financial, Inc (CRD#: 133763) of Greensboro, NC. He has been in the industry since 1999. Bice’s publicly-available FINRA BrokerCheck report includes five disclosures, four customer disputes and one employment separation after allegations. The first disclosure on Bice’s BrokerCheck…

Broker William Matthew Crafa and wealth management firm Royal Alliance Associates, Inc are the subject of a FINRA claim on behalf of investors regarding the solicitation and recommendation to purchase GPB Capital Holdings private placement securities. GPB Capital Holdings, a New York-based “alternative asset investment firm” that invests in car…

GPB Capital Holdings is being investigated by the state of Massachusetts, FINRA, the SEC, the New Jersey Bureau of Securities, and the FBI. If that weren’t enough, the New York City Business Integrity Commission, which oversees the city’s private trash industry, is also investigating the company. The company says it…

Silver Law Group is investigating brokerage firms that sold GPB Capital Holdings private placements. Notable brokerage firms that sold the GPB Capital Holdings investments include Sagepoint Financial, Inc.; Woodbury Financial Services, Inc.; Royal Alliance Associates Inc.; National Securities Corporation; and FSC Securities Corp. Approximately 63 Brokerage Firms Sold GPB Capital…

In February, we told you about three investigations focused on GPB Capital Holdings. The first is by the state of Massachusetts, with two additional separate investigations by FINRA and the SEC. On Thursday, February 28th, the FBI, accompanied by officials from the New York City Business Integrity Commission, paid an…

If you use Fidelity’s platform for your 401(k) investments, you may have some additional, unfamiliar fees to pay. You wouldn’t be the only one—others have noticed, and now the State of Massachusetts has launched an inquiry into Fidelity’s fees. The fees are being charged to some mutual funds for using…

On May 1, 2018, FINRA Department of Enforcement entered into a settlement via Acceptance, Waiver, and Consent (AWC) with Respondent Laidlaw & Company. Without admitting or denying any wrongful acts, Laidlaw consented to a public censure by FINRA, the imposition of a $25,000 fine, as well as agreeing to give…