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Articles Posted in FINRA Disciplinary Actions

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Jose Abel Gamez (CRD# 4292479) is a former registered broker and investment advisor. His most recent employer was Raymond James Financial Services, Inc. (CRD# 6694) of San Antonio, Texas. His previous employers include Chase Investment Services Corp. (CRD# 25574), LPL Financial LLC (CRD#:6413), USAA Investment Management Company (CRD# 5475), also of San Antonio, and Capital One Investment Services LLC (CRD# 25658) of Round Rock, Texas. He has been in the industry since 2000. Raymond James discharged Gamez on June 25, 2025, after allegations that he misappropriated client funds for personal use. On 8/29/2025, a client filed a dispute requesting “reimbursement of principal and lost market opportunity following FA’s alleged misappropriation of funds.” The client requested damages of $1,863,371.00, and the firm settled the claim for $413,370.18.Jose Abel Gamez (CRD# 4292479) is a former registered broker and investment advisor. His most recent employer was Raymond James Financial Services, Inc. (CRD# 6694) of San Antonio, Texas. His previous employers include Chase Investment Services Corp. (CRD# 25574), LPL Financial LLC (CRD#:6413), USAA Investment Management Company (CRD# 5475), also of San Antonio, and Capital One Investment Services LLC (CRD# 25658) of Round Rock, Texas. He has been in the industry since 2000. Continue reading ›

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Eric Brian Kleiner (CRD# 4135180) is a previously registered broker and investment advisor, last employed with Morgan Stanley (CRD# 149777) of New York, New York. Previously, he was employed by Wells Fargo Advisors, LLC (CRD# 19616) and Prudential Securities, Inc. (CRD# 7471), both based in New York. He has been in the industry since 2000. Morgan Stanley discharged Kleiner on 3/18/2025 after allegations of “recommendations to customers of non-firm approved and firm restricted investments, including ones in which Mr. Kleiner was also invested, failure to fully disclose outside investment, and use of personal device to engage in unauthorized disclosure of confidential, internal use only Firm information.” The allegations stem from seven customer disputes filed between April 16, 2025, and December 5, 2025, with similar claims of investment strategies that were not authorized by Morgan Stanley or in the clients' best interests. One dispute includes a request for damages of $400,000. All seven disputes are currently pending.Eric Brian Kleiner (CRD# 4135180) is a previously registered broker and investment advisor, last employed with Morgan Stanley (CRD# 149777) of New York, New York. Previously, he was employed by Wells Fargo Advisors, LLC (CRD# 19616) and Prudential Securities, Inc. (CRD# 7471), both based in New York. He has been in the industry since 2000. Continue reading ›

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Sean T. Sullivan (CRD#: 6283466) is a previously registered broker last employed with Sovereign Global Advisors LLC of Denver, Colorado. His previous employers were Spartan Capital Securities, LLC (CRD#:146251) of Garden City, New York, Aegis Capital Corp. (CRD#:15007) of Melville, New York, and Joseph Stone Capital L.L.C. (CRD#:159744) of Hauppauge, New York. He has been in the industry since 2014. Sullivan’s CRD contains 11 disclosures, including 9 customer disputes. The most recent disclosure is a disciplinary action by FINRA related to Sullivan’s time at Aegis. During his tenure at Aegis, Sullivan placed 14 unauthorized trades in the non-discretionary accounts of four customers, who were all over the age of 60 and had a collective account value of $250,000. He neither contacted these customers nor obtained their permission to make these transactions on their behalf. The firm reversed the trades for three of the customers while the fourth filed a complaint with a state regulator, closed his account and transferred his holdings to a different broker-dealer. The FINRA disciplinary action is currently “pending.”Sean T. Sullivan (CRD#: 6283466) is a previously registered broker last employed with Sovereign Global Advisors LLC of Denver, Colorado. His previous employers were Spartan Capital Securities, LLC (CRD#:146251) of Garden City, New York, Aegis Capital Corp. (CRD#:15007) of Melville, New York, and Joseph Stone Capital L.L.C. (CRD#:159744) of Hauppauge, New York. He has been in the industry since 2014. Continue reading ›

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Mario L Martinez (CRD# 6144561), a financial advisor formerly associated with Bank of America’s Merrill Lynch, Pierce, Fenner & Smith Inc. in Fort Lauderdale, Florida, was recently permanently barred from the securities industry. Martinez had been working at Merrill Lynch, Pierce, Fenner & Smith Inc for 9 years in the Merrill Edge unit. Prior to working at Merrill Lynch, Pierce, Fenner & Smith Inc he was employed at AXA Advisors LLC in Miami, FL for almost two years.Mario L Martinez (CRD# 6144561), a financial advisor formerly associated with Bank of America’s Merrill Lynch, Pierce, Fenner & Smith Inc. in Fort Lauderdale, Florida, was recently permanently barred from the securities industry. Martinez had been working at Merrill Lynch, Pierce, Fenner & Smith Inc for 9 years in the Merrill Edge unit. Continue reading ›

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Anthony George Saab (CRD# 408501), a longtime broker most recently working with Sunbelt Securities, Inc. in Dallas, Texas, has been permanently barred by the Financial Industry Regulatory Authority (FINRA) after refusing to cooperate with an investigation into his sales of alternative investments. The issue with these alternative investments is that they are high-risk. FINRA’s inquiry related to activity during Saab’s time at The Fig Group, LLC, a prior firm where he worked before joining Sunbelt Securities. Saab chose not to admit or deny FINRA’s findings but declined to provide the information regulators sought, which triggered the industry bar.Anthony George Saab (CRD# 408501), a longtime broker most recently working with Sunbelt Securities, Inc. in Dallas, Texas, has been permanently barred by the Financial Industry Regulatory Authority (FINRA) after refusing to cooperate with an investigation into his sales of alternative investments. Continue reading ›

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Blog-Graphics20Nicholas Edward Stovall (CRD# 5581487) was barred for participating in private securities transactions not disclosed or approved from his firm prior to the transactions.

Stovall sold $1,401,690 worth of unregistered promissory notes issued by Premier Global Corporation (PGC), Premier Factoring, LLC (PF-LLC) and Premier Factoring Group, LLC (PFG-LLC). This corporation provided financing to construction companies. Any unregistered promissory notes could have a higher risk of fraud and may leave investors without significant legal protection if something goes wrong. Continue reading ›

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San Antonio, Texas 2025 – Eric Anthony Dupre (CRD# 2174456), a financial broker with 26 years of experience, was permanently barred from the security industry in July 2025. Dupree had been with Ameriprise Financial Services for three years when they discharged him in December 2023 for violating company policies by borrowing money from clients. FINRA found that he borrowed at least $2,236,000 from two customers without informing or obtaining prior written approval from Ameriprise. He borrowed $65,000 from a married couple that were his clients and eventually repaid the loan. He also borrowed at least $2,171,000 through multiple loans from a different client, a 77-year-old customer.  Dupre promised to repay the principal plus additional compensation, but he has not repaid any portion of these funds that we are aware of.San Antonio, Texas 2025 – Eric Anthony Dupre (CRD# 2174456), a financial broker with 26 years of experience, was permanently barred from the security industry in July 2025. Dupree had been with Ameriprise Financial Services for three years when they discharged him in December 2023 for violating company policies by borrowing money from clients. Continue reading ›

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According to FINRA Disciplinary actions for December 2025, 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
Vincent Jerome Camarda IBN Financial Servies Inc
Traderfield Securities Inc.
Samuel D. Frankfort Rockefeller Financial LLC
Raymond James and Associates Inc.
Robert James Hoefel US Bancorp Investments Inc
Wells Fargo Clearing Services
James Sunghoon Kim Stifel, Nicolaus & Co
Raymond James & Associates, Inc.
Thomas Stewart Lanier Wells Fargo Clearing Services
Citigroup Global Markets Inc.
Geraldine Card Maxfield

 

 PNC Wealth Management
Wells Fargo Clearing Services
James Edward McArthur IBN Financial Services Inc.
Traderfield Securities Inc.
Shane Robert Niederer Grove Point Investments LLC
LPL Financial LLC
Krista Ann Stamper Purshe Kaplan Sterling Investments
Raymond James Financial Services

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According to FINRA Disciplinary actions for December 2025, 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. However, these individuals remain bound by the securities arbitration agreement to arbitrate any disputes between themselves and their former customers:

NAME FORMER EMPLOYERS
Christian Yavier Gomez Brooklight Place Securities Inc.
NYLife Securities LLC
Steven A. Pusterla

 

 TSG Capital Advisors
Merrill Lynch, Pierce Fenner & Smith Inc.
Richard James Wick Northwestern Mutual Investment

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Camden, South Carolina 2025 – Donald Franklin Spivey (CRD#: 847360), a financial broker with 45 years of experience, has been barred from the securities industry after refusing to appear for on the record testimony requested by FINRA. The testimony was part of an investigation into whether certain recommendations he made were suitable for, or in the best interests of his clients. Spivey worked at Carter, Terry & Company, Inc. for 18 years at the time of this event and had no prior customer complaints. According to the findings, he initially cooperated with FINRA’s investigation but later stopped doing so. Without admitting or denying the findings, Spivey consented to the sanction and signed an Acceptance, Waiver and Consent, which formally documents his refusal to testify.Camden, South Carolina 2025 – Donald Franklin Spivey (CRD#: 847360), a financial broker with 45 years of experience, has been barred from the securities industry after refusing to appear for on the record testimony requested by FINRA. The testimony was part of an investigation into whether certain recommendations he made were suitable for, or in the best interests of his clients. Continue reading ›

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