A National Securities Arbitration & Investment Fraud Law Firm

Articles Posted in FINRA Disciplinary Actions

|

Santiago Torres Jr. (CRD# 5644622), a financial broker in Sinking Spring, Pennsylvania, with 14 years of industry experience, has been permanently barred from associating with any FINRA member firm after failure to provide information and documents to FINRA and failing to appear for on-the-record testimony. Torres Jr. had allegations from customers (his wife’s cousin and other family members) of falsified customer documents and misappropriated funds. According to public records, the customers in this case were Torres Jr.’s wife’s cousin and other family members. Multiple family members made allegations of damage due to misappropriated funds, specifically CDs and Annuity fixed CDs. Three of these complaints have settled for the amounts of $190,000, $17,500.00 and $45,000. At the time of the alleged misconduct, Torres Jr. was employed by Truist Investment Services, Inc. September 2024 Truist Investment Services terminated Torres Jr’s employment. Santiago Torres Jr. (CRD# 5644622), a financial broker in Sinking Spring, Pennsylvania, with 14 years of industry experience, has been permanently barred from associating with any FINRA member firm after failure to provide information and documents to FINRA and failing to appear for on-the-record testimony. Continue reading ›

|

Nicholas Armellino (CRD# 3189691), a broker working for GMS Group in Jersey City, New Jersey, was recently barred because he refused to appear for on-the-record testimony requested by FINRA in connection with an investigation that originated from a regulatory tip submitted to FINRA. This refusal to provide testimony during a regulatory investigation violated FINRA Rule 8210. He did not admit or deny the findings. Armellino did initially cooperate with FINRA’s investigation, but then he stopped. Nicholas Armellino had 11 disclosures during his 25 years of working as a broker. Five of these investor disputes from 2006 through 2016 were settled by the brokerage firm giving the client money in return for the damages.  They included allegations such as unauthorized trading, making unsuitable investments and misrepresentations regarding certain securities, failing to provide the client with several notices of material events prior to the customer’s purchase of a bond and excessive trading in an unsuitably leveraged account. Two of the investor disputes were denied, which means that the broker and or their firm revied the customer’s complaint and determined that it is unfounded or lacks merit. It does not necessarily mean the complaint was false, but they did not find sufficient evidence to support the customer.Nicholas Armellino (CRD# 3189691), a broker working for GMS Group in Jersey City, New Jersey, was recently barred because he refused to appear for on-the-record testimony requested by FINRA in connection with an investigation that originated from a regulatory tip submitted to FINRA. This refusal to provide testimony during a regulatory investigation violated FINRA Rule 8210. He did not admit or deny the findings. Armellino did initially cooperate with FINRA’s investigation, but then he stopped. Continue reading ›

|

Mohammed A. Salim (CRD# 7126671), a financial broker, with five years of industry experience, has been permanently barred from associating with any FINRA member firm following allegations of unauthorized sales and improper transfers of funds from a customer’s account to cover his personal creditors. At the time of the alleged misconduct, Salim was employed by Morgan Stanley in Deer Park, New York. The firm disclosed that it had terminated Salims’ registration due to concerns involving unauthorized sales and customer fund transfers. According to FINRA, while Salim did not admit or deny the findings, he chose not to appear for on-the-record testimony after initially cooperating with the investigation.   FINRA regulates the brokerage industry and investigate when things go awry.  To prevent similar misconduct, firms are encouraged to strengthen internal controls that detect unusual account activity including unauthorized transfers or third-party payments.  Regular audits, close supervision of broker activity, and implementing robust customer verification policies can reduce the risk of financial exploitation and help protect investors.  Investors themselves should also monitor their account statements carefully and immediately report any discrepancies.Mohammed A. Salim (CRD# 7126671), a financial broker, with five years of industry experience, has been permanently barred from associating with any FINRA member firm following allegations of unauthorized sales and improper transfers of funds from a customer’s account to cover his personal creditors. Continue reading ›

|

According to FINRA Disciplinary actions for September 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
Neil S. Cohen Merill Lynch, Pierce, Fenner & Smith Inc.
Metlife Securities
Jim Carl Dedmon Jr. Wells Fargo Clearing Services LLC
Morgan Stanley
Hamish Andre Grason UBS Financial Services Inc
Merill Lynch, Pierce, Fenner & Smith Inc.
Adrian Malcolm Ince Standard New York, Inc.
ICBC Standard Securities Inc.
Marcelo Jorcin Insight Securities Inc
Jihoon Park MML Investors Services LLC
Frey D. Pena Perez J. P. Morgan Securities
Patrick Aaron Pistor Equitable Advisors LLC
Jason J. Ratkovich J. P. Morgan Securities
Joseph Alan Seidler RBC Capital Markets LLC
Wells Fargo Clearing Services LLC
Anand Anthony Sookbir JP Morgan Securities LLC
Patsy Ann Turrentine Prospera Financial Services Inc
Rodman & Renshaw Inc.

Continue reading ›

|

According to FINRA Disciplinary actions for September 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
Jared Stephen Dulski Citigroup Global Markets Inc.
Oppenheimer & Co Inc.
Samuel D. Frankfort Rockefeller Financial LLC
Raymond James & Associates, Inc.
Tony Graybeal Wells Fargo Clearing Services, LLC
Suntrust Investment Services, Inc.
Joshua Austin Harris First Citizens Investor Services
Wells Fargo Clearing Services LLC
Joseph Alan Seidler RBC Capital Markets LLC
Wells Fargo Clearing Services LLC
Andrew Smith Farmers Financial Solutions LLC
U.S. Bancorp Investments Inc.
Katherine Alexanra Tarbox SVB Securities LLC
Raymond James & Associates, Inc.

Continue reading ›

|

According to FINRA Disciplinary actions for September 2025, 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
Cody M. Anderson Equitable Advisors LLC
Sharon Bass JP Morgan Securities LLC
HSBC Securities (USA) Inc.
Stacey Joy Chen Goldman Sachs & Co. LLC
Rebecca Katherine Hart
Kathy Jean Koester LPL Financial LLC
Invest Financial Corporation
Jennifer Marie Kuntzman
James Parascandola Pruco Securities LLC
Equitable Advisors LLC
David Ryan Vega III Assetmark Brokerage LLC
Charles Schwab & Co. Inc
Zachary A. Warnelis Nationwide Investment Services

Continue reading ›

|

Mario Martinez (Mario L. Martinez, CRD# 6144561) is a former registered broker and investment advisor last employed with Merrill Lynch, Pierce, Fenner & Smith Incorporated (CRD# 7691) of Fort Lauderdale, FL. He was previously employed with AXA Advisors, LLC (CRD# 6627) of Miami, FL, and has been in the industry since 2013. On December 18, 2024, a customer filed a dispute alleging that Martinez misappropriated funds, and that she also loaned money to him. The dispute was settled for $331,242.55. No additional information is available.Mario Martinez (Mario L. Martinez, CRD# 6144561) is a former registered broker and investment advisor last employed with Merrill Lynch, Pierce, Fenner & Smith Incorporated (CRD# 7691) of Fort Lauderdale, FL. He was previously employed with AXA Advisors, LLC (CRD# 6627) of Miami, FL, and has been in the industry since 2013. Continue reading ›

|

According to FINRA Disciplinary actions for March 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
Mark Brosa Ameriprise Financial Services, LLC
Edward Jones
Ryan Clayton Merrill Lynch, Pierce, Fenner & Smith Incorporated
First Citizens Investor Services, Inc.
Christopher Hale
Cassandra Heitz LPL Financial LLC
Investment Centers of America, Inc.
Desmond James-Jones Equitable Advisors, LLC
AXA Advisors
Peter Lawrence American Portfolios Financial Services, Inc.
Questaer Capital Corporation
Gustavo Miramontes Oppenheimer & Co. Inc.
Wedbush Securities Inc.
Ryan Taleghani Morgan Stanley
Merrill Lynch, Pierce, Fenner & Smith Incorporated
Vanessa Webber

Continue reading ›

|

According to FINRA Disciplinary actions for March 2025, 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
Yiu Yeung Pacific Century Securities, LLC
Michael Banks Morgan Stanley
Fidelity Brokerage Services LLC
Juan Gomez
Eunice Carreira
Joscelyn Cockburn Innovation Partners LLC
FSC Securities Corporation
Janelle English
Juan Chavez J.P. Morgan Securities LLC
Sara Jankowski Stifel, Nicolaus & Company, Incorporated
City Securities Corporation
David Love LaSalle St Securities, LLC
ICMA-RC Services, LLC
James Marrero American Portfolios Financial Services, Inc.
BCG Securities, Inc.
Emma McAuley Edward Jones
Marques Mcleon NYLife Securities LLC
Jennifer Nelson Edward Jones
Robert Ornelas Northwestern Mutual Investment Services, LLC
Luis Castanon J.P. Morgan Securities LLC
Michael Russo Spartan Capital Securities, LLC
Craft Capital Management LLC
Edgar Shanoyan Merrill Lynch, Pierce, Fenner & Smith Incorporated
Purshe Kaplan Sterling Investments
Robert Thomas IBN Financial Services, Inc.
Avantax Investment Services, Inc.
James Turpin USA Financial Services Corporation
United Planners’ Financial Services of America A Limited Partner

Continue reading ›

|

According to FINRA Disciplinary actions for March 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
Steven Blanchard LPL Financial LLC
Raymond James Financial Services, Inc.
Michael Fasciglione Aegis Capital Corp.
National Securities Corporation
Michael Magruder Raymond James & Associates, Inc.
Merrill Lynch, Pierce, Fenner & Smith Incorporated
Kyle Manning Spartan Capital Securities, LLC
Southeast Investments, N.C., Inc.
James Mariani Aegis Capital Corp.
National Securities Corporation
Kevin Reed U.S. Bancorp Investments, Inc.
PNC Investments
Mario Rivero Jr. LPL Financial LLC
Wells Fargo Clearing Services, LLC
John Schlagheck Cape Securities Inc.
Intervest International Equities Corporation

Continue reading ›

Contact Information
Main Office
11780 W Sample Rd
Coral Springs, FL 33065
Phone: (954) 755-4799Fax: (954) 755-4684
New York Office
229 W 36th St 8th Floor
New York, NY 10018
Phone: (212) 377-5227
Florida Office
4755 Technology Way #205
Boca Raton, FL 33431
Phone: (561) 665-8613
ATTORNEY ADVERTISING

Visit our Florida Securities Whistleblower Website

We serve clients nationwide including, but not limited to, those in the following localities: Atlanta, Baltimore, Boston, Chicago, Dallas–Fort Worth, Denver, Detroit, Houston, Los Angeles, Miami, New York City, Philadelphia, Phoenix, San Bernardino-Riverside, San Diego, San Francisco, Seattle, St. Louis, Tampa–St. Petersburg, and Washington, D.C. View More

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Please do not include any confidential or sensitive information in a contact form, text message, or voicemail. The contact form sends information by non-encrypted email, which is not secure. Submitting a contact form, sending a text message, making a phone call, or leaving a voicemail does not create an attorney-client relationship.

Copyright © 2025, Silver Law Group
JUSTIA Law Firm Blog Design