Broker Permanently Barred

FINRA Permanently Bars Carlos Nester Evertsz-Seda After Second Suspension

May 4, 2018 | Silver Law Group

FINRA has barred Carlos Nestor Evertsz-Seda (aka Carlos Nextor Evertsz, CRD# 4757897.) He is a previously registered broker, and is not currently registered with any FINRA member. His last place of employment was K.C. Ward Financial (CRD# 145135) of Ronkonkoma, NY from 03/05/2010 to 05/09/2017. Seda also worked for K.C. Ward Financial from 02/28/2008 to 09/23/2008. He also worked for J.P. Turner & Company, L.L.C. (CRD# 43177) prior to his tenure at K.C. Ward Financial, from 10/04/2006 to 03/26/2008.

Seda is the subject of two FINRA actions, both of which resulted in suspensions.

The first was filed on 5/2/2014, when it was discovered that Seda was involved in two outside business ventures without notifying his employer, and getting the employer’s permission to engage in the activities. One transaction netted Seta $10,000. He was fined $5,000 and suspended for one month, and signed an Acceptance, Waiver and Consent (AWC) letter without affirming or denying the allegations.

Woodstock Financial Group, Inc. Broker William Bruckner Fined and Suspended by FINRA

June 9, 2017 | Silver Law Group

Allegations of mismarking solicited trades as unsolicited follow this West Palm Beach broker from firm to firm.

William Bruckner is accused of mismarking solicited trades as unsolicited and by doing so, violating his member-firm policy.

Originally employed by Sanford C. Bernstein & Co., LLC in West Palm Beach, Florida from February 2010 to July 2012, Bruckner moved on to employment with Merrill Lynch, Pierce, Fenner & Smith Incorporated in Palm Beach, Florida from July 2012 to May 2016.

FINRA Suspends Broker John Valliades After Allegations of Purchasing Investments Without Sufficient Authorization

May 2, 2017 | Silver Law Group

Valliades was also routinely accused of churning by former customers

According to the Financial Industry Regulatory Authority (FINRA), New York Broker John Valliades was involved in a regulatory dispute that occurred while he was employed with Petersen Investments, Inc., in New York, NY. FINRA also reports that Valliades “consented to sanctions and to the entry of findings that he exercised discretion in three customers” accounts without obtaining prior written authorization from customers.

The findings stated that while Valliades and his customers spoke and agreed upon investments for the customers’ accounts, he exercised time and price discretion in executing transactions on dates when he had not spoken with the clients. As a result, Valliades was suspended for 20 days from working in any capacity in the securities industry and fined $5,000.

Texas-based Broker Patrick Perales Permanently Barred by FINRA

May 1, 2017 | Silver Law Group

Broker failed to respond to agency following discharge from Wells Fargo Advisors, LLC after allegations related to his status as Power of Attorney for a client

In August 2016, the Financial Regulatory Authority (FINRA) permanently barred former Wells Fargo Advisors, LLC broker Patrick Perales from participating as a broker or otherwise associating with firms that sell securities to the public. The regulatory action is a result of Perales’ failure to respond to FINRA’s requests for documents and information related to an investigation surrounding why his then employer, Wells Fargo Advisors, LLC discharged him earlier in 2016.

According to his FINRA BrokerCheck report, Wells Fargo Advisors terminated Perales’ employment in January 2016 “for reasons unrelated to the business of Wells Fargo Advisors, LLC. Banker acted as a paid POA (Power of Attorney) for a bank client without disclosing and obtaining approval to serve as POA for a client.” While the bank client admitted giving Perales Power of Attorney over his account and paying Perales to assist him with his business needs, the client also alleged that money was missing from his account. A violation of this trust could represent Power of Attorney fraud.

Former NYLife Securities LLC Broker Amr Aboulmagd Is Permanently Barred from Acting as a Broker

March 15, 2017 | Silver Law Group

Former NYLife Securities LLC Broker Amr Aboulmagd Is Permanently Barred from Acting as a Broker on silverlaw.com

He allegedly misrepresented information regarding both fixed and variable annuities to customers who suffered financial losses as a result

While the Financial Industry Regulatory Authority (FINRA) permanently barred former NYLife Securities LLC broker Amr Mostafa Aboulmagd in October 2016, additional complaints continue to be filed against him.

With a total of four customer disputes lodged against him, Aboulmagd was barred by FINRA due to his failure to appear for on-the-record testimony requested by the regulatory body in connection to an investigation into allegations of misrepresentation and making unsuitable recommendations to customers regarding switches from a fixed annuity to a variable annuity.