Securities Arbitration Lawyers Blog

According to FINRA Disciplinary actions for March 2017, 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: NAME FORMER EMPLOYERS   Philip Bagalanon…

According to FINRA Disciplinary actions for March 2017, 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   Michael David Charest   Citizens Securities, Inc.   CCO Investment Services Corp.   William Thomas…

Silver Law Group is investigating former New York-based broker Christopher J. Calandrino (CRD# 5238231) after he resigned from Joseph Stone Capital L.L.C. (CRD# 159744) for allegedly selling outside investments. According to Calandrino’s FINRA BrokerCheck report, Joseph Stone allowed Calandrino to voluntarily resign in October 2016 while the firm investigated him…

Silver Law Group is investigating former New Jersey-based Concorde Investment Services, LLC (CRD# 151604) brokers Jill M. Cody (CRD#  4333419) (also known as Jill Tramontano (“Tramontano”)) and Richard G. Cody (CRD# 2794558) (“Cody”) after the SEC filed charges against Cody and FINRA barred Tramontano. In December 2016, the SEC filed…

Silver Law Group is investigating former Overland, Kansas-based Ameriprise Financial Services, Inc. (CRD# 6363) broker John S. Elliot (CRD# 5981598) over allegations that he sold customers an outside investment. According to Elliot’s FINRA BrokerCheck, Ameriprise discharged Elliot in August 2016 for violating Ameriprise compliance policies relating to selling away. Following…

The Boynton Beach broker is alleged to have profited from unsuitable investment recommendations Joel Weiner is no longer allowed to act as a broker as of December of 2016. It was then that the Financial Industry Regulatory Authority (FINRA) decided to permanently bar him due to serious allegations involving the…

A group of investors has accused former head of Cetera Financial Group Nicholas “Nick” Schorsch and his partners of shaving off revenues of RCS Capital (“RCAP”), a company once controlled by Schorsch that went into bankruptcy, for their own benefit. The complaint was filed on March 8, 2017 by RCS…

Silver Law Group is investigating former Houston, Texas-based Park Avenue Securities (CRD# 46173) broker Lizabeth Gotuaco Ty (CRD# 4737319) (also known as “Beth Ty”) after FINRA permanently barred her. According to Ty’s FINRA BrokerCheck report, FINRA permanently barred Ty in May 2016 after she failed to provide documents and information…

Silver Law Group is investigating Houston, Texas-based IMS Securities Inc. (CRD# 35567) broker Michael J. Spears (CRD# 4501523) after two (2) customers filed complaints against Spears regarding non-traded REITs. According to Spears’ FINRA BrokerCheck report, two customers filed complaints against Spears in 2016.  The first, in August 2016, alleges negligence,…

The SEC National Exam Program concentrates on monitoring risks specific to elderly and retiring investors, at a time when it is needed most Here’s the good news: in United States, people are living longer. As a result of this trend, the aging population in the U.S. is becoming more and…