Securities Arbitration Lawyers Blog

Valliades was also routinely accused of churning by former customers According to the Financial Industry Regulatory Authority (FINRA), New York Broker John Valliades was involved in a regulatory dispute that occurred while he was employed with Petersen Investments, Inc., in New York, NY. FINRA also reports that Valliades “consented to…

Unfortunately, some brokers and financial advisors devise ways to charge additional commissions, take unnecessary investment risks, or even defraud their clients. And one of the most egregious varieties of fraud or other improper financial activity involves taking advantage of older individuals, some of whom are not privy to information that…

Broker failed to respond to agency following discharge from Wells Fargo Advisors, LLC after allegations related to his status as Power of Attorney for a client In August 2016, the Financial Regulatory Authority (FINRA) permanently barred former Wells Fargo Advisors, LLC broker Patrick Perales from participating as a broker or…

The answer, in most all cases, is “no” In order to become licensed, one of the things a broker has to do is agree to adhere to the rules and regulations established by the Financial Industry Regulatory Authority (FINRA). One of these rules involves the borrowing of money from clients,…

Silver Law Group is investigating former New Jersey-based Morgan Stanley (CRD# 149777) broker Barry F. Connell (CRD# 3070984) over SEC allegations that he stole money from his customers. According to the SEC complaint, Connell misappropriated approximately $5 million from Morgan Stanley clients from December 2015 through November 2016.  Allegedly, Connell…

Silver Law Group is investigating former Mississippi-based Morgan Stanley (CRD# 149777) broker Hilary J. Zimmerman (CRD# 2191841) over unauthorized trading allegations. According to Zimmerman’s FINRA BrokerCheck report, Zimmerman is the subject of seven (7) disclosures.  Out of the seven disclosures, Zimmerman has had three (3) settled on his behalf and…

Silver Law Group is investigating Boca Raton, Florida-based Revere Securities LLC (CRD# 14178) broker Brett S. Murphy (CRD# 2434384) over allegations that Murphy excessively traded unit investment trusts (“UITs”) in a customer’s account. According to Scott’s FINRA BrokerCheck report, a customer filed a complaint against Scott alleging Scott churned the…

Silver Law Group is investigating former Montana-based Western International Securities, Inc. (CRD# 39262) broker Jed E. Tinder (CRD# 1013144) over allegations of unsuitability, recklessness and negligence. According to Tinder’s FINRA BrokerCheck report, Tinder currently has three (3) pending FINRA arbitration complaints.  The first, filed in September 2015, alleges unsuitable recommendations…

Silver Law Group is investigating former Dallas, Texas-based LPL Financial LLC (CRD# 6413) broker Marcos Yanez (CRD# 5353857) over allegations that Yanez misrepresented certain aspects in the sale of a variable life insurance policy amidst other allegations. According to Yanez’s FINRA BrokerCheck report, a customer filed a complaint against Yanez…

The broker is reported to have made risky investments that lost a client most of her retirement savings Early in 2017, the Financial Industry Regulatory Authority (FINRA) permanently banned Kelly Althar from acting as a broker. This action was the result of several allegations, including excessive trading, unsuitable recommendations, and…