Securities Arbitration Lawyers Blog

Almost 37,000 consumers are left paying $6.3 million in monthly premiums for insurance plans with Simple Health Plans LLC. The Federal Trade Commission is working on permanently closing the company. However, until a federal judge keeps the company permanently closed, the consumers still need to pay. Simple Health has been…

Suitability for Retail Customers FINRA rule 2111 ensures that firms and people associated with firms deal with customers fairly. The rule is composed of three main parts: reasonable basis suitability, customer-specific suitability, and quantitative suitability. FINRA will observe unsuitable recommendations to retail investors and also deficiencies in some firms; supervisory…

Silver Law Group is investigating Wellington, Florida based company Winfield Capital Partners, LP and its principals, Richard W. Hartnett and Taryn E. Hartnett. Winfield Capital Partners and Winfield Capital GP Winfield Capital Partners is an investment fund managed by Winfield Capital GP LLC. Winfield Capital Partners began soliciting investors in…

Silver Law Group is investigating Boca Raton, Florida-based Newbridge Securities Corporation broker David Fagenson (CRD# 1652012) after FINRA suspended him for eight (8) months for alleged misconduct in elder customer brokerage accounts. According to Fagenson’s FINRA BrokerCheck report, FINRA suspended the Florida-based broker in November 2018. FINRA suspended Fagenson after…

Silver Law Group is investigating former Salinas, California-based, Independent Financial Group broker David Marshall after some customers have come forward alleging he recommended his customers invest with unregistered brokers. According to Marshall’s FINRA BrokerCheck report, Marshall was registered with Independent Financial Group at its Salinas, California branch from July 2015…

When you’re considering working with a financial professional, how do you pick the right person? Do you choose someone with an impressive-sounding title/designation that makes it seem like they have expertise helping people just like you, such as “senior specialist” if you’re a senior citizen? While a designation like that…

The Massachusetts Securities Division has charged former investment adviser, Bruce Colin Worthington, with allegedly withdrawing $100,000 from a client’s bank account. Worthington has been charged with fraudulently misappropriating the investment funds of a retiree and using the money for personal use. He was affiliated with Founders Financial Securities for about…

On February 26, 2019, the SEC announced charges and an asset freeze against the people behind a South Florida investment scheme. One of the people behind the scheme has a felony conviction, was in prison for 20 years, and is now out on parole. Castleberry Financial Services Group LLC, managed…

This is the latest case related to the conduct of barred advisor Aaron Parthemer, who had a practice in Florida that catered to NFL and NBA players. Parthemer invested some of his clients’ money in a Miami Beach nightclub that he partially owned. He also engaged in other activities that…

FINRA has alleged that in 2011 and 2012, Ami Forte engaged in unsuitable trading with the account of a client who was very near death. With this account, Forte generated more than $9 million in commissions in less than a year. In 2016, Forte was fired by Morgan Stanley after…