FINRA Disciplinary Actions

West Palm Beach, Florida Broker William T. Eaton Under Investigation After FINRA Suspends Him

June 6, 2017 | Silver Law Group

Silver Law Group is investigating former Florida-based LPL Financial LLC (CRD# 6413) and Wells Fargo Advisors, LLC (CRD# 19616) (Also known as Wells Fargo Clearing Services) broker William T. Eaton (CRD# 3058469) after FINRA suspended him.

According to Eaton’s FINRA BrokerCheck report, FINRA suspended Eaton from acting as a broker in September 2016. Eaton allegedly failed to comply with an arbitration award or settlement agreement or to satisfactorily respond to a FINRA request to provide information concerning the status of compliance.

LPL Financial employed Eaton from August 2015 to November 2016 at its West Palm Beach, Florida location. Wells Fargo Advisors employed Eaton from April 2013 to August 2015 at its Wellington, Florida location. Prior to Wells Fargo and LPL Financial, Suntrust Investment Services, Inc. (CRD# 17499) employed Eaton from July 2011 to April 2013 at its Delray Beach, Florida branch.

FINRA Fines Cetera Almost $2 Million for Mutual Fund Sales Charge Violations

June 6, 2017 | Silver Law Group

FINRA entered into a settlement with Cetera Advisor Networks LLC (CRD# 13572) over improprieties related to mutual sales fund charge waivers.

According to the Acceptance, Waiver and Consent (“AWC’) entered into between Cetera and FINRA, Cetera disadvantaged certain retirement plan and charitable organization customers that were eligible to purchase certain shares in mutual funds without a front-end sales charge. Instead, Cetera sold these customers shares with front-end or back-end sales charges and higher ongoing fees and expenses.

Cetera did not waive the additional mutual fund sales charge even though customers qualified for it and, according to the AWC, Cetera carried on this conduct between July 2009 and January 2017.

Former Connecticut Broker Warren M. Rockmacher Under Investigation for Unsuitable Recommendations at Investacorp

May 25, 2017 | Silver Law Group

Silver Law Group is investigating former Connecticut-based Investacorp, Inc. (CRD# 7684) broker Warren M. Rockmacher (CRD# 2005652) after FINRA suspended and then permanently barred the broker.

Rockmacher currently has a FINRA arbitration pending that alleges unsuitable recommendations and misrepresentation with damages in the amount of $75,000.

On May 12, 2016, FINRA suspended Rockmacher for failing to comply with an arbitration award or settlement agreement or failed to respond to a FINRA request to provide information on the status of compliance. Two weeks later, FINRA barred Rockmacher completely from the securities industry.

Silver Law Group Investigates FINRA-barred Florida Broker Who Allegedly Sold Away Customers

May 25, 2017 | Silver Law Group

Silver Law Group is investigation former Florida-based Fidelity Brokerage Services LLC (CRD# 7784) broker Michael J. DeBoer (CRD# 2114067) for allegedly conducting outside business activities without notifying Fidelity and losing his customers a great deal of money in the process.

According to DeBoer’s FINRA BrokerCheck, FINRA permanently barred DeBoer in May 2016 for allegedly recommending two customers collectively invest $200,000 in securities offered by a software development company. In exchange for the referrals, the company allegedly gave DeBoer $32,000 in compensation, while the customers ultimately lost all of their investments.

Additionally, the Acceptance, Waiver & Consent (“AWC”), found that DeBoer marketed to his customers and other potential investors the services of an entity that provided separately-managed futures trading accounts. The AWC states that DeBoer referred approximately 28 people to the entity and received $70,000 in return for his referrals. Most of the referred individuals lost a substantial amount of the money invested.

Silver Law Group Investigates Former Illinois Morgan Stanley Broker Terminated for Outside Business Activities

May 25, 2017 | Silver Law Group

Silver Law Group is investigating former Deerfield, Illinois-based Morgan Stanley Smith Barney broker Brian C. Sak (CRD# 3259830) after he was terminated for allegations that he placed customers in unapproved investments.

According to Sak’s FINRA BrokerCheck Report, he was terminated on May 17, 2016 by Morgan Stanley (CRD# 149777) due to concerns related to outside real estate investments with a client that was not appropriately disclosed to Morgan Stanley.

Additionally, Sak’s has two other disclosures in the form of FINRA arbitrations. The FINRA arbitrations, like Morgan Stanley, allege that Sak recommended investing in outside real estate investment opportunities. In total, the two FINRA arbitrations allege $600,000 in damages.

FINRA Bars Former Kovack Broker For Allegedly Naming Himself as Inheritor of 91-year-old Customer’s Condo

May 25, 2017 | Silver Law Group

FINRA has barred Fort Lauderdale, Florida-based broker Douglas W. Studer (CRD# 4440047) for refusing to testify on the record in a FINRA-led investigation into whether Studer violated his employing firm’s policy by being named in an elderly customer’s estate documents to inherit the customer’s waterfront condominium.

Studer was employed by Kovack Securities Inc. (CRD# 44848) until Kovack terminated him in July 2016, according to the Acceptance, Waiver and Consent (“AWC”) entered into between Studer and FINRA.

According to the AWC, FINRA began investigating Studer on August 2, 2016. Studer was asked to record testimony, but he refused to appear. Allegedly, Studer appeared on his 91-year-old customer’s estate documents and was to inherit the elderly customer’s waterfront condominium.

Registered Individuals Barred by FINRA in April 2017 for Failure to Follow FINRA Rules

May 8, 2017 | Silver Law Group

According to FINRA Disciplinary actions for April 2017, 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
Roberto Omar Bastardo	Wells Fargo Advisors, LLC
Christopher John Calandrino	Joseph Stone Capital LLC
Christopher John Calandrino	Cape Securities Inc
Kathy Campos
Dawn Deshean Davenport	J.P Morgan Securities LLC
Louis Vincent Fontanella Jr.	Allstate Financial Services, LLC
Louis Vincent Fontanella Jr.	David Lerner Associates, Inc.
Wanda L. Gilmer
Sherman Lee Greer	LPL Financial LLC
Sherman Lee Greer	UVest Financial Services Group, Inc.
John Francis Hart	WFG Investments, Inc
John Francis Hart	Questar Capital Corporation
Raul Enrique Jacobs	T2 Asset Management, LLC
Raul Enrique Jacobs	Waddell & Reed
Kyle Ryan Kurtz	Thrivent Investment Management Inc.
Kyle Ryan Kurtz	Thrivent Financial for Lutherans
Adela Ovadia Levy
Derrick Joseph Luttrell	Merrill Lynch, Pierce, Fenner & Smith Inc.
Derrick Joseph Luttrell	Charles Schwab & Co., Inc.
Destina Mantar	Goldman, Sachs & Co.
Roxanna Andrea Marin	Wells Fargo Advisors, LLC
Wesley Marion Oler IV	LPL Financial LLC
Wesley Marion Oler IV	Epic Retirement Services Consulting
Richard Byron Raff	Infinex Investments, Inc.
Richard Byron Raff	M&F Bank/Uvest Financial Services
Francesco Anthony Scarso	First Standard Financial Company LLC
Francesco Anthony Scarso	PHX Financial, Inc.

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.

April 2017 FINRA Disciplinary Actions Suspend Registered Individuals for Failing to Comply with FINRA Rules

May 8, 2017 | Silver Law Group

According to FINRA Disciplinary actions for April 2017, 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
Adam Christopher Boynton	Morgan Stanley
	Wells Fargo Advisors, LLC
Olori Dennis Hamilton	Woodstock Financial Group, Inc.
	Blackbook Capital LLC
Jeffrey G. Lyon	Joseph Gunnar & Co. LLC
	Charles Vista LLC
Daniel Keenan Michelman	Rothschild Lieberman LLC
	PHX Financial, Inc.
Anthony Minerva	Richard James & Associates, Inc.
	J.D. Nicholas & Associates, Inc.
Russell Leo Sadler	Independent Financial Group, LLC
	Cambridge Investment Research, Inc.
Philip Jameson Staff	Ameriprise Financial Services, Inc.
	Wells Fargo Advisors, LLC
Scott Paul Strochak	Morgan Stanley
	Merrill Lynch, Pierce, Fenner & Smith Inc.
Donald Lee Watson Jr.	The Jeffrey Matthews Financial Group, LLC
	Stifel, Nicolaus & Company , Inc.
Patrick Justin White, Sr.	Laidlaw & Company (UK) Ltd.
	Blackbook Capital LLC

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.

FINRA Suspends Registered Individuals in April 2017 for Violations of FINRA Rules

May 8, 2017 | Silver Law Group

According to FINRA Disciplinary actions for April 2017, 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:

NAME	FORMER EMPLOYERS
Miguel Anel Aguilar	MML Investors Services, LLC
Miguel Anel Aguilar	Northwestern Mutual Investment Services, LLC
Steven Preston Alexander	Citizens Securities, Inc.
Steven Preston Alexander	CUNA Brokerage Services, Inc.
Jared Cody Artho	J.P. Morgan Securities LLC
Amadou Bah	Maxim Group LLC
Amadou Bah	Garden State Securities, Inc.
Michael W Benjamin	State Farm VP Management Corp.
John W. Boals	Allstate Financial Services, LLC
Lionel Brooks Jr.	Merrill Lynch, Pierce, Fenner & Smith Inc.
Lionel Brooks Jr.	Oppenheimer & Co. Inc.
Amanda Yvette Burnett	Invest Financial Corporation
Sandra Canaba	LPL Financial LLC
Sandra Canaba	Chase Investment Services Corp.
Joni Carrera
Barry Franklin Connell	Morgan Stanley
Barry Franklin Connell	UBS Financial Services Inc.
Pamela A. Daniels
Charles Greer Denormandie III	Commonwealth Financial Network
Charles Greer Denormandie III	Ameriprise Financial Services, Inc.
Leah Rose Fox-Greenberg
Jennifer Marie Gonzalez
Chad Daniel Hornaday	AXA Advisors, LLC
Chad Daniel Hornaday	National Planning Corporation
Stephen Johnathan Hoshimi	Crescent Securities Group, Inc.
Stephen Johnathan Hoshimi	Capwest Securities, Inc.
Matthew J. Houtz	Raymond James & Associates, Inc.
Jennifer Rebecca Johnson	Ameriprise Financial Services, Inc.
Jennifer Rebecca Johnson	Edward Jones
Adam Anthony Jurczyk	J.P. Morgan Securities LLC
John James Joseph Labrie	J.P. Morgan Securities LLC
John James Joseph Labrie	Chase Investment Services Corp.
Alexander Lewis	Northwestern Mutual Investment Services LLC
Derek James Longmuir	Advisors Asset Management, Inc.
Derek James Longmuir	First Trust Portfolios LP
Elijah Robert Maldonado	J.P. Morgan Securities LLC
Elijah Robert Maldonado	Chase Investment Services Corp.
David K. Mallett	Wunderlich Securities, Inc.
David K. Mallett	Stephens Inc.
Raymond Edward Martin
Quinn Alexander McClendon	Citizens Securities, Inc.
Quinn Alexander McClendon	Mutual of Omaha Investor Services, Inc.
Luan Quoc Nguyen	Pruco Securities, LLC
Andrew Michael Pritchard	Pruco Securities, LLC
Timothy John Reed	Suntrust Investment Services, Inc.
Timothy John Reed	Wells Fargo Advisors, LLC
Steven Barry Sitzer	Dinosaur Securities, LLC
Steven Barry Sitzer	Spartan Capital Securities, LLC
Raynard Keshav Sookdial	PFS Investments Inc.
Quynh Ngoc Tran	J.P. Morgan Securities LLC
Nathan Robert Trodahl	State Farm VP Management Corp.
Daniel L. Waters	Fidelity Brokerage Services LLC
Sherman Marcel White	Wayne Hummer Investments LLC
Sherman Marcel White	US Bancorp Investments, Inc.
Brian Scot Winchester	Securities America, Inc.
Brian Scot Winchester	Sunset Financial Services, Inc.
William Brian Wyman	Ameriprise Financial Services, Inc.
William Brian Wyman	Royal Alliance Associates, Inc.
Kevin Jin Yi	Voya Financial Advisors, Inc.
James Seokhoon Yoon	J.P. Morgan Securities LLC
Young Min Yun

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.

Sherman L. Greer, Formerly North Carolina LPL Financial Branch, Under Investigation

April 7, 2017 | Silver Law Group

Silver Law Group is investigating former Locust, North Carolina-based LPL Financial LLC (CRD# 6413) broker Sherman L. Greer(CRD# 4910464) after FINRA permanently barred him.

According to Greer’s FINRA BrokerCheck report, FINRA permanently barred Greer in November 2016 from acting as a broker or otherwise associating with firms that sell securities to the public after Greer failed to respond to FINRA’s request for information.

Prior to FINRA’s bar, LPL Financial discharged Greer in May 2016 after he failed to respond to inquiries from LPL Financial’s compliance department.