Securities Arbitration Lawyers Blog

The Financial Industry Regulatory Authority (“FINRA”) announced on April 27th that Avenir Financial Group (“Avenir”), its CEO Michael Clements (“Clements”), and registered representative Karim Ibrahim a/k/a Chris Allen (“Ibrahim”), consented to an order halting further fraudulent sales of equity interests in the firm and promissory notes, pending a hearing on…

Firm Allegedly Listed Commissions as “Miscellaneous” or “Additional Fees” BlackBook Capital, LLC, with headquarters on Wall Street in New York City, has been sanctioned by FINRA for allegedly mischaracterizing and understating commissions charged to its investors, among other charges. According to the FINRA disclosure, the firm –without admitting or denying…

New York broker and Chief Compliance Officer of Trident Partners Ltd., William Michael Quigley (CRD# 1968265), was permanently barred by FINRA commencing on June 23, 2015, for failing to respond to a FINRA request for information, pursuant to FINRA Rule 9552(d). Quigley is barred from association with any FINRA member…

Promises of safe bond investments result in lost nest eggs High returns and tax-free income and a government that could not default on its debt. If you think that sounds like a pretty sound investment, so did many who bought Puerto Rico bonds and leveraged bond funds sold by Swiss…

This final action follows two previously disclosed customer disputes Randy Bostick was barred from the securities industry following a suspension for failing to respond to a FINRA request for information. According to the FINRA website, Bostick, who was most recently employed by Janney Montgomery Scott LLC at the time of his…

Broker Errol Constantine Hyde (CRD# 1812079) was permanently barred by FINRA commencing on June 23, 2015, for failing to respond to a FINRA request for information, pursuant to FINRA Rule 9552. Hyde is barred from association with any FINRA member in any capacity. Hyde failed to request termination of his…

Barred for allegedly aiding and abetting violation of federal securities law After 16 years in the securities industry, James E. Scott has been permanently barred from acting as a broker or otherwise associating with firms that sell securities to the public. Scott was most recently registered with International Assets Advisory,…

Failure to respond to FINRA request for information ends Yao’s securities career After only 8 years in the securities industry, broker Peter Yao, most recently registered with Morgan Stanley out of Seattle, Washington, has been permanently barred by FINRA. In short, this action by FINRA means Peter Yao may no…

Failed to follow Securities Act requirements Lake Worth, Florida-based 1st Discount Brokerage, Inc along with Naples, Florida-based Alan Miller and Overland Park, Kansas-based Mark Miller are all players in a FINRA disciplinary action, according to the June 2015 FINRA Disciplinary Action Report. Both Alan Miller and Mark Miller consented to…

Meyers Associates, L.P., George Johnson, Joseph Mahalick and Christopher Wynne all named in FINRA complaint In the June 2015 FINRA Disciplinary Actions report, one firm and three brokers were named in a FINRA complaint alleging numerous violations that include manipulative trading of securities. According to the complaint, Meyers Associates, L.P.,…