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Articles Posted in FINRA Disciplinary Actions

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According to FINRA Disciplinary actions for December 2020, 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
  Jamie Bennett   Silber Bennett Financial, Inc.
  Silver Portal Capital LLC
  Chelsea Flohr   J.P. Morgan Securities LLC
  Jon Foster   Wells Fargo Clearing Services, LLC
  Mark Grenier   David Lerner Associates, Inc.
  Maxim Group LLC
  Dorinda Lumpkin   BBVA Securities Inc.
  Jorge Pica   Suntrust Robinson Humphrey, Inc.
  Stephens Inc.
  Aaron Pierett   Merrill Lynch, Pierce, Fenner & Smith Incorporated
  Wells Fargo Clearing Services, LLC
  Alexander Walker   Fidelity Brokerage Services LLC

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According to FINRA Disciplinary actions for December 2020, 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
  Katie Blando   J.P. Morgan Securities LLC
  Wells Fargo Advisors, LLC
  Thomas Marino   R.M. Stark & Co., Inc.
  J.W. Cole Financial, Inc.
  Narinder Singh   Farmers Financial Solutions, LLC
  ProEquities, Inc.

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According to FINRA Disciplinary actions for December 2020, 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
  Michael Albarella   HSBC Securities (USA) Inc.
  People’s Securities, Inc.
  Dean Grosskreutz   Allstate Financial Services, LLC
  Morgan Keegan & Company, Inc.

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Michael Pina (Michael Kris Pina CRD#: 5922058) is a former registered broker whose last known employer was PFS Investments Inc. (CRD#:10111) of Fort Lauderdale, FL. He has been in the industry since 2011, and began working with PFS in 2013. A client filed a dispute on 2/4/2019 alleging that she gave Pina a check for $20,000, under the impression that it was to be invested. The firm settled for the damages requested, which was $20,000. On 3/7/2019, PFS Investments allowed Pina to resign after he admitted borrowing $20,000 from a client. The firm terminated his registration in a Form U5 filed with FINRA, disclosing the circumstances of his termination. Based on the Form U5, FIRNA began its investigation.Michael Pina (Michael Kris Pina CRD#: 5922058) is a former registered broker whose last known employer was PFS Investments Inc. (CRD#:10111) of Fort Lauderdale, FL. He has been in the industry since 2011, and began working with PFS in 2013.

A client filed a dispute on 2/4/2019 alleging that she gave Pina a check for $20,000, under the impression that it was to be invested. The firm settled for the damages requested, which was $20,000. Continue reading ›

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Peter Ianace (Peter Vincent Ianace CRD#: 3238078) is a formerly registered broker and investment advisor whose last known employer was Wells Fargo Clearing Services, LLC (CRD#:19616) of Plano, TX. His previous employers include Merrill Lynch, Pierce, Fenner & Smith Incorporated (CRD#:7691) of Frisco, TX, Morgan Stanley Smith Barney (CRD#:149777) and Morgan Stanley & Co. Incorporated (CRD#:8209), both of Plano, TX. He has been in the industry since 1999. Ianace is the subject of two current customer disputes, filed on 8/7/2020 and 8/24/2020, with similar allegations of unsuitable recommendations. One client also alleges that Ianace “neglected to reduce the over-concentrated and over-leveraged nature of their accounts.” Both disputes are currently listed as “pending.” FINRA began an investigation into Ianace’s business activities outside of his firm after he failed to report them. Ianace initially cooperated with the investigation, but stopped in August of 2020. After declaring to FINRA staff that he would not provide any further assistance or documentation, FINRA issued an Acceptance, Waiver & Consent (AWC) which Ianace signed.Peter Ianace (Peter Vincent Ianace CRD#: 3238078) is a formerly registered broker and investment advisor whose last known employer was Wells Fargo Clearing Services, LLC (CRD#:19616) of Plano, TX. His previous employers include Merrill Lynch, Pierce, Fenner & Smith Incorporated (CRD#:7691) of Frisco, TX, Morgan Stanley Smith Barney (CRD#:149777) and Morgan Stanley & Co. Incorporated (CRD#:8209), both of Plano, TX. He has been in the industry since 1999. Continue reading ›

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Christ Baltas (Christ Elias Baltas CRD: 2570499) is a former registered broker whose last known employer was Worden Capital Management LLC (CRD#:148366) of Melville, NY. His previous employers include Wilmington Capital Securities, LLC (CRD#:133839) also of Melville, Kovack Securities Inc. (CRD#:44848) of Fort Lauderdale FL, and Quest Capital Strategies, Inc. (CRD#:16783) of Laguna Hills, CA. He has been in the industry since 1995. In August of 2020, FINRA sent Baltas a notice to appear for on-the-record testimony in relation to its investigation of his supervision of a registered representative. This representative had made trading recommendations that were potentially unsuitable while Baltas was a supervisor. Although Baltas acknowledged receipt of FINRA's notice, he notified staff that he would not be appearing for testimony at any time.Christ Baltas (Christ Elias Baltas CRD: 2570499) is a former registered broker whose last known employer was Worden Capital Management LLC (CRD#:148366) of Melville, NY. His previous employers include Wilmington Capital Securities, LLC (CRD#:133839) also of Melville, Kovack Securities Inc. (CRD#:44848) of Fort Lauderdale FL, and Quest Capital Strategies, Inc. (CRD#:16783) of Laguna Hills, CA. He has been in the industry since 1995. Continue reading ›

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According to FINRA Disciplinary actions for November 2020, 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 Evans   Wells Fargo Clearing Services, LLC
  Foreside Fund Services, LLC
  Brendan Feitelberg   United Planners’ Financial Services of America
  LPL Financial LLC
  Dia Howell   U.S. Bancorp Investments, Inc.
  Salomon Smith Barney Inc.
  May Kim   Pruco Securities, LLC
  Jonathan Malone   Wells Fargo Clearing Services, LLC
  Wells Fargo Advisors LLC
  Evan Nadelman   Aegis Capital Corp
  Ninety Holdings Group LLC
  Gyasi Richard   Wells Fargo Clearing Services, LLC
  Philip Scherello   Traderfield Securities Inc
  Velocity Capital, LLC

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According to FINRA Disciplinary actions for November 2020, 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
 William Baris   Network 1 Financial Securities Inc.
  Joseph Stone Capital, LLC
  Riza Hernandez   Lincoln Financial Securities Corporation
  Wells Fargo Advisors, LLC
  Donald Padilla   National Securities Corporation
  National Asset Management
  Jon Sanchez   Independent Financial Group  LLC
  Morgan Stanley
  Joseph Shimko, Jr.   Bank of America, N.A.
  Wells Fargo Clearing Services, LLC
  Paul Stanford   Santander Securities LLC
  Ameriprise Financial Services, Inc.

Continue reading ›

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According to FINRA Disciplinary actions for November 2020, 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
  Casey Brougham   Nationwide Securities, LLC
  Spyridon Chandrinos   Millennum Advisors, LLC
  Derek Edwards   PFS Investments Inc.
  William Ellis   Charles Schwab & Co., Inc.
  Fidelity Brokerage Services LLC
  Ignacio Del Campo   Epic Capital Securities Corp
  Insigneo Securities, LLC
  Caleb Hutzler    LPL Financial LLC
  Northwestern Mutual Investment Services, LLC
  Narongdej Jaroensabphayanont   Voya Financial Advisors, Inc.
  Ten Strategic Wealth Group
  Young Kim
  Kevin Lafollette   Nationwide Investment Services Corporation

Continue reading ›

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