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Articles Posted in FINRA Disciplinary Actions

Daniel O’Neil and Douglas Szempruch, two brokers working for Aegis Capital Corp. (CRD#:15007) in Melville, NY, have faced disciplinary action FINRA after both were separately involved in improper activities.  Daniel O’Neil (Daniel James O’Neil CRD#:1358245) is a former registered broker with Aegis, who discharged him on 7/29/2021 for failing to notify the firm about a “pending enforcement investigation” by FINRA. The investigation focused on “conduct inconsistent with firm standards.”Daniel O’Neil and Douglas Szempruch, two brokers working for Aegis Capital Corp. (CRD#:15007) in Melville, NY, have faced disciplinary action FINRA after both were separately involved in improper activities.

Daniel O’Neil (Daniel James O’Neil CRD#:1358245) is a former registered broker with Aegis, who discharged him on 7/29/2021 for failing to notify the firm about a “pending enforcement investigation” by FINRA. The investigation focused on “conduct inconsistent with firm standards.” Continue reading ›

According to FINRA Disciplinary actions for September 2021, 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
  John Barrett   Emerson Equity LLC
  Lincoln Financial Advisors Corproation
  Amanda Berry   MML Investors Services, LLC
  NYLife Securities LLC
  Michael Bramlett   Country Capital Management Company
  Christopher Fisher   PFS Investments Inc.
  Charles Schwab & Co., Inc.
  Berhane Kassahun   AXA Advisors, LLC
  MSI Financial Services, Inc.
  Christy McWilliams   Jackson National Life Distributors LLC
  Kevin Nevin   Dempsey Lord Smith, LLC
  Sandlapper Securities, LLC
  Antoine Rogers   J.P. Morgan Securities LLC
  Alfredo Vazquez   J.P. Morgan Securities LLC
  David Villarreal III   U.S. Bancorp Investments, Inc.
  Morgan Stanley
   Jonathan Ward   State Farm VP Management Corp.

FINRA makes this information available, in part, to inform investors about potential red flags or problems with certain stockbrokers. If you invested with anyone in this report and have questions about your legal rights, our attorneys will talk with you at no cost to explain your legal rights and about how we can help recover your investment losses through securities arbitration or litigation.

FINRA Rule 8210 allows FINRA’s enforcement attorneys the authority to investigate matters under its regulatory purview. FINRA Rule 8210 requires a stockbroker or other registered person of the request to provide documents or information “with respect to any matter in [an] investigation, complaint, examination or proceeding.”

The subject matter of a FINRA investigation or inquiry can include almost anything relating to the brokerage industry or the financial advisor’s activities.  FINRA regulatory rules allow for broad authority to investigate violations of FINRA’s rules and regulations including, Rule 2010 (a FINRA member “shall observe high standards of commercial honor and just and equitable principles of trade”). Under Rule 2010 FINRA can seek any documents or other information that FINRA believes is relevant to its inquiry.  In 2013, FINRA announced in a regulatory notice that the scope of Rule 8210 had been clarified, stating that “all aspects of the relationship between a broker-dealer and its associated persons are potentially the subject of a Rule 8210 request.”

Securities Arbitration Claims Against Barred Brokers

Even after a broker is barred from the industry or otherwise faces disciplinary action, investors can still pursue stockbroker misconduct claims against their financial advisor and/or their brokerage firms.  Financial Advisors who have engaged in misconduct or otherwise violated FINRA rules or regulations frequently surrender their license rather than cooperate in a FINRA investigation. In the past, FINRA has barred brokers from the industry for participating in Ponzi schemes, elder financial fraud, breach of fiduciary duty, and other misconduct. While a bar from the securities industry can be a powerful piece of evidence for investors pursuing FINRA arbitration claims against their advisors and/or their brokerage firms, investors should work with experienced securities and investment fraud attorneys to help maximize their recovery.

FINRA arbitration is separate and distinct from FINRA’s regulatory obligations. In our experience, FINRA regulatory focuses on punishing the wrongdoers but rarely results in compensation for the victims. For investors who have been defrauded by a financial advisor or others, FINRA arbitration is frequently the best place to secure a recover for losses.

Silver Law Group represents investors in securities and investment fraud cases through FINRA arbitration or court. Our lawyers are admitted to practice in New York and Florida and represent investors nationwide in securities arbitration to help recover investment losses due to stockbroker misconduct. If you have any questions about how your account has been handled, call to speak with an experienced securities attorney. Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

According to FINRA Disciplinary actions for September 2021, 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
  Ryan Burneo   J.P. Morgan Securities LLC
  Jamila Fields   Wells Fargo Clearing Services, LLC
  Wells Fargo Advisors, LLC
  William Friedman   Pinnacle Investments, LLC
  Woodstock Financial Group, Inc.
  Paul Furusho   APW Capital, Inc.
  LPL Financial LLC
  Xinwo Li   Pruco Securities, LLC
  Charles Lopez   Merrill Lynch, Pierce, Fenner & Smith Incorporated
  Toni Marshall   J.P. Morgan Securities LLC
  Tarek Mohamed   Bankers Life Securities, Inc.
  Vincent Pepe   J.P. Morgan Securities LLC
  Tara Pierce   LPL Financial LLC
  Investment Centers of America Inc.
  Rachel Rodriguez   J.P. Morgan Securities LLC
  Kezia Simeon   J.P. Morgan Securities LLC
  Tara Supron
  Alex Taylor   Allstate Financial Services, LLC
  Isaac Yamoah

Continue reading ›

According to FINRA Disciplinary actions for September 2021, 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
  Sam Aziz   David A. Noyes & Company
  Coastal Equities, Inc.
  Gary Helbling   Oppenheimer & Co. Inc.
  Wells Fargo Advisors, LLC
  Kevin Nevin   Dempsey Lord Smith, LLC
  Sandlapper Securities, LLC
  James Reittinger   U.S. Bancorp Investments, Inc.
  J.P. Morgan Securities LLC
  Jameson Shin   LPL Financial LLC
  Wells Fargo Advisors, LLC
  Joseph Stengel   LPL Financial LLC
  Pruco Securities, LLC
  Philip Zaczek   Valic Financial Advisors, Inc.
  Morgan Stanley

Continue reading ›

According to FINRA Disciplinary actions for August 2021, 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
  Omer Ali-Taha   BB&T Investment Services, Inc.
  Citigroup Global Markets Inc.
  Katie Blando   J.P. Morgan Securities LLC
  Wells Fargo Advisors, LLC

Continue reading ›

According to FINRA Disciplinary actions for August 2021, 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
  Lorenzo Atkins   The Huntington Investment Company
  Fifth Third Securities, Inc.
  Samantha Beasley   Wells Fargo Clearing Services, LLC
  Cyntera Belser   J.P. Morgan Securities LLC
  Annie Bohossian   J.P. Morgan Securities LLC
  Tiffany Burgess
  Jinnie Chean   Allstate Financial Services, LLC
  Lawrence Ehren   Landolt Securities, Inc.
  Oberweis Securities, Inc.
  Michael Goonan   Equitable Advisors, LLC
  Park Avenue Securities LLC
  Courtney Mahdak   Charles Schwab & Co., Inc.
  John Margain   State Farm VP Management Corp.
  Janie Royal   Key Investment Services LLC
  Joseph Valenti   Newbridge Securities Corporation
  Reid & Rudiger LLC

Continue reading ›

According to FINRA Disciplinary actions for August 2021, 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
  Matthew Berman
  Thomas Bonik   NTB Financial Corporation
  Linsco/Private Ledger Corp.
  James Clements   Allstate Financial Services, LLC
  State Farm VP Management Corp.
  Daniel Della Rosa   Corinthian Partners, LLC
  Paulson Investment Company LLC
  Morgan Engbrecht   Horace Mann Investors, Inc.
  Micah Judy   W&S Brokerage Services, Inc.
  Lionel Scott   Arive Capital Markets
  Cape Securities, Inc.
  Ricardo Uliambre   UBS Financial Services Inc.
  Morgan Stanley Smith Barney LLC
  Paul Vizanko   Wells Fargo Clearing Services, LLC
  Merrill Lynch, Pierce, Fenner & Smith Incorporated

Continue reading ›

According to FINRA Disciplinary actions for July 2021, 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
  John Barrett   Emerson Equity LLC
  Lincoln Financial Advisors
  Michael Bramlett   County Capital Management Company
  Christopher Fisher   PFS Investments Inc.
  Charles Schwab & Co., Inc.
  Berhane Kassahun   AXA Advisors, LLC
  MSI Financial Services, Inc.
  Charles Lopez   Bank of America, N.A.
  Merrill Lynch, Pierce, Fenner & Smith Incorporated
  Kajie McMullen   J.P. Morgan Securities LLC
  Christy McWilliams   Jackson National Life Distributors LLC
  Kevin Nevin   Demsey Lord Smith, LLC
  Sandlapper Securities, LLC
  Antoine Rogers   J.P. Morgan Securities LLC
  Alfredo Vazquez   Cuso Financial Services, L.P.
  BBVA Securities Inc.
  David Villarreal III   U.S. Bancorp Investments, Inc.
  Morgan Stanley
  Jonathan Ward   State Farm VP Management Corp.

Continue reading ›

According to FINRA Disciplinary actions for July 2021, 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
  Trent Drake   Cambridge Investment Research, Inc.
  Pacer Financial, Inc.
  Adam Feierstein   ProEquities, Inc.
  Woodbury Financial Services, Inc.
  Eileen Kenny   LPL Financial LLC
  Private Advisor Group, LLC
  Norma Kuklis
  William Kursim   Fidelity Brokerage Services LLC
  National Financial Services LLC
  Joseph Switzer Sr.   Fidelity Brokerage Services LLC
  Tim Viohl   U.S. Bancorp Investments, Inc.
  LPL Financial LLC

Continue reading ›

According to FINRA Disciplinary actions for July 2021, 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
  David Allen   Avenir Financial Group
  GunnAllen Financial, Inc.
  Jameile Cawley   Horace Mann Investors, Inc.
  LPL Financial LLC
  Bradley Gardner   LPL Financial LLC
  Golden State Wealth Management, LLC
  Brian O’Neill   Fisher Investments
  ProFunds Distributors, Inc.

Continue reading ›

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