A National Securities Arbitration & Investment Fraud Law Firm
Allegations include unsuitable investing for concentrating elderly retiree investments in gold and energy stocks Christopher Ariola has 16 years of experience in the securities industry, most recently with Financial Telesis, Inc. in Aliso Viejo, California. While Ariola is currently not registered as a broker or investment advisor, there remain four…
The regulatory agency’s sanction is related to money allegedly borrowed from a client In March of 2016, broker Lance Slater was barred by the Financial Industry Regulatory Authority (FINRA). The agency had requested that Slater get in touch to discuss allegations against him, but because he didn’t respond, he is…
Hoffman, a former broker with SunTrust Investment Services in Waycross, Georgia had his FINRA registration revoked after being suspended In June of 2016, Clay Hoffman was suspended by the Financial Industry Regulatory Authority (FINRA) for failing to provide information to the agency related to a number of allegations. In addition…
United Development Funding IV (“UDF IV”) announced a distribution amidst a continuing SEC investigation and delisting from NASDAQ exchange. On November 8, 2016, United Development Funding (“UDF”) announced that its public real estate investment trust United Development Funding IV’s board of trustees has authorized a cash distribution of $0.08 per…
Cetera Investment Services, LLC (CRD# 15340) entered into a Letter of Acceptance, Waiver and Consent (“AWC”) with FINRA after the regulatory body alleged it failed to notify account owners regarding changes to their account records. According to the AWC, from October 1, 2008 through November 15, 2013, Cetera failed to…
Cetera Financial Group subsidiary VSR Financial Services, Inc. (CRD# 14503) is winding down and transferring some of its brokers to other Cetera Financial Group broker-dealers. VSR is one of Cetera Financial Group’s (“Cetera”) many independent brokerage firms. Cetera was acquired by Nicholas “Nick” Schorsch’s RCS Capital in 2014 in an…
The Financial Industry Regulatory Authority (“FINRA”) fined eight firms, including VOYA Financial Advisors (CRD# 2882) (“VOYA”) and five broker-dealer subsidiaries of Cetera Financial Group (Cetera Advisor Networks LLC (CRD# 13572)), for failing to supervise sales of variable annuities (VAs). The eight firms are required to pay a fine of $6.2…
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 Houston, Texas-based Summit Brokerage Services, Inc. (CRD# 34643) broker Keith A. Bradley (CRD# 868141) after a customer filed a FINRA arbitration alleging unsuitable recommendations and negligence. According to Bradley’s FINRA BrokerCheck report, a customer filed a FINRA arbitration against Bradley in July 2016 alleging unsuitable investments,…
On November, 2016, FINRA announced fines against five (5) Cetera Financial Group brokerage firm subsidiaries in an amount of $2.95 million for supervisory failures related to variable annuity L-shares. FINRA fined the following Cetera Financial Group-related firms: Cetera Advisor Networks LLC (CRD# 13572) of El Segundo, CA, was fined $750,000. Cetera…