Securities Arbitration Lawyers Blog

According to FINRA Disciplinary actions for July 2016, 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   Gordon W.…

Florida-based broker allegedly misappropriated funds while associated with two different member firms. Carlton E. Burton passed his Series 7 General Securities Representative Exam in October 2014. He passed his Series 66 Uniform Combined State Law Examination in June 2015. And in February 2016, Burton was permanently barred from associating with…

Misappropriation of funds, breach of fiduciary duty, and mismanagement are just a few of the allegations cited Silver Law Group is investigating Thomas Edward Andrews, a broker who was employed by LPL Financial in Salt Lake City, Utah. Andrews began his career in the financial services industry in October 2002.…

Allegations of unauthorized trading and unauthorized use of margin, along with failure to respond, drive FINRA decision Multiple customer disputes and tax liens line Ricardo A. Broome’s FINRA-generated BrokerCheck report. Most recently, allegations against Broome include unauthorized trading and unauthorized use of margin. Damages granted in customer disputes against Broome…

Voya Financial Advisors, Inc. discharges Acevedo and FINRA permanently bars him as a result of alleged misconduct Not only is former ING Financial Partners, Inc (now known as Voya Financial Advisors, Inc.) broker Giovanni Acevedo accused of converting over $160,000 in customer funds for his own personal use, he is…

Allegations include violation of firm policy, unsuitability, excessive trading, unsolicited trade confirmations, among others. During a 27-year career in the securities industry, Michigan broker Merid Amde has a total of six disclosure events listed on his BrokerCheck record. The most recent disclosure event landed the broker with a 3-month suspension…

Broker fined $15,000 and suspended for four months as a result of FINRA investigation After having damages granted against her in the amount of $135,000 by a customer questioning the suitability of her investments in December 2012, Texas financial advisor Betsy B. Marcom (previously known as Betsy Bratton Perryman) is…

Alleged misrepresentation of REITs and BDCs by Purshe Kaplan Sterling Investments and Gopi Vungarala to their client, a Native American Tribe, lead to exorbitant commissions to the detriment of the tribe Purshe Kaplan Sterling Investments and their licensed broker Gopi Vungarala have been named respondents in an FINRA compliant that…

Just two months after being sanctioned by the U.S. Commodity Futures Trading Commission (CFTC), Hong Kong-based cryptocurrency exchange Bitfinex — one of the largest Bitcoin exchanges in the world — has now halted all its Bitcoin trading operations until further notice, claiming it has suffered a security breach.  According to…

Seasoned broker permanently barred from all securities activity after allegations of conversion and forgery The Financial Industry Regulatory Authority (FINRA) took action against Raymond James stockbroker Paul Steffany in October of 2015, after allegations surfaced that he illegally converted funds as executor of a client’s trust and forged signatures on…