Securities Arbitration Lawyers Blog

According to FINRA Disciplinary actions for June 2015, 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   Jason Wade…

According to FINRA Disciplinary actions for June 2015, the following individuals’ licenses were revoked for failure to pay fines and/or costs to FINRA pursuant to FINRA rules: NAME FORMER EMPLOYERS   Frank E. Brickell   World Trade Financial Corporation   Ameritrade   Rodney Preston Michel   World Trade Financial Corporation…

According to FINRA Disciplinary actions for June 2015, 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   Frank Carmen…

According to FINRA Disciplinary actions for June 2015, 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   Candius J. Bannister   Morgan Stanley   Edward Jones   Michael Sean Cain   Morgan…

Morgan Stanley has found itself on the wrong end of a Florida FINRA arbitration for claimed damages of $400 million. Lynnda Speer, the widow of Home Shopping Network (HSN) co-founder Roy M. Speer, filed the claim against Morgan Stanley and one of its branch managers and investment advisers. Due to…

According to the Financial Fraud Research Center, Americans lose $50 billion each year to fraud. Further, research funded by the Financial Industry Regulatory Authority Education Foundation (Foundation) discovered that roughly 80 percent of consumers over the age of 40 said they had been solicited for a potentially fraudulent scheme. In…

A customer of Wells Fargo Advisors filed a FINRA complaint against Wells Fargo to seek the money he lost when his adviser invested his monies in “F-Squared Investments.”  The customer’s claim is that Wells Fargo failed to supervise his adviser properly, and also did not do the required due diligence…

Mark Joy Lane, a former broker for Cetera Advisor Networks LLC and Walnut Street Securities, Inc., was permanently barred by FINRA from association with any FINRA member in any capacity.  Lane worked at Walnut from February 2004 to September 2013 and at Cetera from September 2013 to August 2014. Silver…

Curtis Milakovich was permanently barred by FINRA for association with any FINRA member in any manner for failing to respond to FINRA’s request for information.  Milakovich worked at Kovack Securities from May 2011 until November 2013, when he resigned after Kovack received an inquiry from one of Milakovich’s clients about…

Judith Woodhouse, a former broker at Securities America, was permanently barred by FINRA for association with any FINRA member in any capacity for failing to respond to FINRA’s request for information.   Woodhouse worked for Securities America from December 2008 through February 2013 and then again from July 2013 through September…