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Articles Posted in Stockbroker Misconduct

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Anthony Bottini III (CRD# 5567091) was a broker and investment advisor who was recently barred from the securities industry.  Bottini worked for 13 years at Merrill Lynch, Pierce, Fenner & Smith Inc. in New York, one of the nation's largest brokerage firms. The Financial Industry Regulatory Authority (FINRA) imposed the bar after Bottini failed to provide information requested during a regulatory inquiry. Cooperation with FINRA is a fundamental requirement for all registered brokers and advisors. Failing to respond to their requests typically leads to a permanent ban from acting as a broker or investment advisor.Anthony Bottini III (CRD# 5567091) was a broker and investment advisor who was recently barred from the securities industry.  Bottini worked for 13 years at Merrill Lynch, Pierce, Fenner & Smith Inc. in New York, one of the nation’s largest brokerage firms. Continue reading ›

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Judah Spinner (CRD# 7039921) a financial broker with six years of industry experience, was suspended from the securities industry by the Financial Industry Regulatory Authority (FINRA) following allegations of soliciting individuals to invest in an investment fund without providing written notice to his member firm, Primerica Financial Services.  Spinner had been employed at PFS Investments Inc. for two years in Las Vegas, Nevada. According to FINRA’s findings, Spinner engaged with potential investors by discussing opportunities to invest in the fund, responding to their inquiries, and furnishing them with a private placement memorandum outlining the investment.  The total amount individuals invested in this fund was over $1 million.Judah Spinner (CRD# 7039921) a financial broker with six years of industry experience, was suspended from the securities industry by the Financial Industry Regulatory Authority (FINRA) following allegations of soliciting individuals to invest in an investment fund without providing written notice to his member firm, Primerica Financial Services.  Spinner had been employed at PFS Investments Inc. for two years in Las Vegas, Nevada. Continue reading ›

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Phillip Curtis Anderson (CRD# 814936) a financial broker with 40 years of industry experience, was suspended from the securities industry by the Financial Industry Regulatory Authority (FINRA) following allegations of recommending unrated corporate bonds to senior retail customers. Anderson had been employed at Kingswood Capital Partners LLC in Roseville, California for five years. According to FINRA disclosures one client had at least 96 percent of their net worth, and another had 35 percent of their net worth (excluding their primary residences), invested in unrated corporate bonds sold by Anderson.  Anderson earned $8,280 in commissions from these transactions.  Putting this high percentage of client portfolios in unrated bonds was wholly unsuitable and contrary to the clients’ best interests.Phillip Curtis Anderson (CRD# 814936) a financial broker with 40 years of industry experience, was suspended from the securities industry by the Financial Industry Regulatory Authority (FINRA) following allegations of recommending unrated corporate bonds to senior retail customers. Anderson had been employed at Kingswood Capital Partners LLC in Roseville, California for five years. Continue reading ›

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Nicholas James Schiano (CRD# 4429212) a financial broker with 24 years of experience, was suspended from the securities industry by the Financial Industry Regulatory Authority (FINRA) following allegations of excessive trading for two senior clients. Schiano had been associated with Spartan Capital Securities, LLC in New York City for the past eight years. According to FINRA’s disclosure report, Schiano’s trading activity generated unusually high turnover rates and cost-to-equity ratios that exceeded established industry benchmarks.   Between September 2017 and March 2022, he executed 102 transactions for one client (Customer A), which resulted in significant losses while generating $45,515 in commissions.  For another client (Customer B), he executed 31 transactions from October 2017 through December 2018, producing comparable losses and $30,510 in commissions.  This level of excessive trading is defined as churning – a practice where brokers excessively buy and sell securities to generate commissions for themselves, rather than prioritizing the client’s investment interests.Nicholas James Schiano (CRD# 4429212) a financial broker with 24 years of experience, was suspended from the securities industry by the Financial Industry Regulatory Authority (FINRA) following allegations of excessive trading for two senior clients. Schiano had been associated with Spartan Capital Securities, LLC in New York City for the past eight years. Continue reading ›

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Joseph Jemel Steward (CRD# 3241331) a financial broker with 20 years of experience, has been suspended from the securities industry by the Financial Industry Regulatory Authority (FINRA). The suspension followed allegations that he engaged in excessive and unsuitable trading that was not in the best interest of his customer. Steward most recently worked at PHX Financial, Inc. in Richmond Hill, New York, where he was employed for three years. According to FINRA disclosures, the customer routinely relied on Steward’s advice and followed his recommendations, giving Steward de facto control over the account.  His trading activity generated a high turnover rate and a cost-to-equity ratio exceeding accepted industry thresholds.Joseph Jemel Steward (CRD# 3241331) a financial broker with 20 years of experience, has been suspended from the securities industry by the Financial Industry Regulatory Authority (FINRA). The suspension followed allegations that he engaged in excessive and unsuitable trading that was not in the best interest of his customer. Steward most recently worked at PHX Financial, Inc. in Richmond Hill, New York, where he was employed for three years. Continue reading ›

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Eduardo Leon Jr. (CRD# 2232647), a Houston based financial broker with more than 33 years of securities industry experience, has been recently suspended by the Financial Industry Regulatory Authority (FINRA). The suspension followed allegations that Leon recommended investments that were not in the best interests of his clients. He has spent 31 years at Global Financial Services LLC in Houston. Eduardo Leon Jr.’s record includes four prior customer disputes, all of which were resolved through settlements compensating clients for financial losses. In one case, he engaged in “negligent over-purchasing” of a bond, mistakenly buying more than the authorized amount. Two other disputes stemmed from defaults on bonds that occurred just 21 days after the purchases, causing client losses. The earliest complaint alleged sales practice violations, claiming $750,000 in damages, and was settled for $300,000.Eduardo Leon Jr. (CRD# 2232647), a Houston based financial broker with more than 33 years of securities industry experience, has been recently suspended by the Financial Industry Regulatory Authority (FINRA). The suspension followed allegations that Leon recommended investments that were not in the best interests of his clients. He has spent 31 years at Global Financial Services LLC in Houston. Continue reading ›

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According to FINRA Disciplinary actions for November 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
Michael Archimede PFS Investments Inc.
Federico Cardona Stonecrest Advisors Inc.
Morgan Stanley
Jason Michael Fekete Ameritas Investment Company LLC
Lincoln Financial Securities Corporation
Seth Horowitz JP Morgan Securities LLC.
UBS Financial Services Inc.
Michael Edwin Magruder Raymond James & Associates, Inc
Merrill Lynch, Pierce Fenner & Smith Inc
Michael Frank Paesano Morgan Stanley
UBS Financial Services Inc.
Gary Michael Strange Cambridge Investment Research Inc
Princor Financial Services Corp

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According to FINRA Disciplinary actions for November 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
Lauren Elizabeth Durand
Federico Gonzalez Oppenheimer & Co
Truist Investment Services
Austin Matthew Martinez TIAA-CREF Individual & Institution Services LLC
Michael Lee Young Jr. LPL Financial LLC
Commonwealth Financial Network
Angela Danee Maynard Merrill Lynch, Pierce Fenner

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According to FINRA Disciplinary actions for November 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
Neil S. Cohen Merrill Lynch, Pierce Fenner & Smith Inc.
Metlife Securities Inc.
Hamish Andre Grason UBS Financial Services Inc.
Merrill Lynch, Pierce Fenner & Smith Inc.
Adrian Malcom Ince Standard New York, Inc.
ICBC Standard Securities Inc.
Marcelo Jorcin Insight Securities Inc.
Patrick Aaron Pistor Equitable Advisors, LLC
Robert Lee Remine Osaic Wealth Inc.
Securities America Inc
Jose Angel Sanchez Insight Securities Inc.
Horwitz & Associates, Inc.
Joseph Alan Seidler RBC Capital Markets, LLC
Wells Fargo Clearing Services LLC
Ida Cukier Shkurman Insight Securities Inc.
Colony Park Financial Services
Anand Anthony Sookbir JP Morgan Securities LLC
Patsy Ann Turrentine Prospera Financial Services Inc
Rodman & Renshaw Inc

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