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Silver Law Group is investigating the following UBS ETRACS ETNs (Exchange Traded Notes): MRRL, WTIU, MLPZ, HOML, SMHD, HDLV, BDCL, LBDC, LMLP, DVHL, and MORL. These ETNs have suffered significant losses as the market has declined due to the coronavirus.
UBS created its ETRACS ETNs and may have marketed and sold them to investors seeking low risk without explaining the risks involved in those securities. Continue reading
As the coronavirus has caused the market to decline precipitously starting in February, 2020, many leveraged exchange-traded funds (ETFs), inverse ETFs, and exchange-traded notes (ETNs) have stopped trading, causing massive losses for investors.
An exchange traded fund (ETF) is a security that tracks an underlying index, such as the S&P 500, by holding the same securities as the index. Traditional ETFs track their indexes on a one-to-one basis, so that if the index increases by 1%, the ETF also increases by 1%. Continue reading
According to FINRA Disciplinary actions for March 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 Bressman | FCG Advisors, LLC |
| Mary Ann Dineen | UBS Financial Services Inc. |
| David Fagenson | Newbridge Securities Corporation |
| UBS Financial Services Inc. | |
| Mark Figueroa | Spartan Capital Securities, LLC |
| Arive Capital Markets | |
| Karen Kopatz | Raymond James & Associates, Inc. |
| Morgan Keegan & Company, Inc. | |
| Jordan Rodriguez | NYLife Securities LLC |
| Frederick Stow | Raymond James & Associates, Inc. |
| Wells Fargo Advisors, LLC | |
| Mark Wetherell | Kovack Securities Inc. |
| Invest Financial Corporation | |
| Marcus Wright | Farmers Financial Solutions, LLC |
| J.P. Morgan Securities LLC |
According to FINRA Disciplinary actions for March 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:
| NAME | FORMER EMPLOYERS |
| Barry Carson | Farmers Financial Solutions |
| Lynn Cawthorne | Cambridge Investment Research, Inc. |
| Investment Professionals, Inc. | |
| Prithviraj Dhandapani | LPL Financial LLC |
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | |
| Davrion Hemphill | |
| Fernando Landicho | Transamerica Financial Advisors,Inc. |
| World Group Securities, Inc. | |
| Megan McAlinden |
According to FINRA Disciplinary actions for March 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 |
| Eric Abrahams | Burch & Company, Inc. |
| Stillwater Structured Finance, LLC | |
| Ronny Acluche | Citizens Securities, Inc. |
| Morgan Stanley | |
| Mark Adams Sr. | Ameriprise Financial Services, Inc. |
| Banc of America Investment Services, Inc. | |
| Omer Ali-Taha | BB&T Investment Services, Inc. |
| Fairfax Wealth, LLC | |
| John Baron | Morgan Stanley |
| J.P. Morgan Securities LLC | |
| Antonio Costanzo | Titus Rockefeller, LLC |
| IFS Securities | |
| Peter Ingraham | Morgan Stanley |
| UBS Financial Services Inc. | |
| Bruce Katz | Gilford Securities Incorporated |
| Raymond James & Associates, Inc. | |
| Andrew Mandala | Burch & Company, Inc. |
| Stillwater Structured Finance, LLC | |
| Steve Morris | Wynston Hill Capital, LLC |
| Halcyon Cabot Partners, Ltd. | |
| Donald Padilla | National Securities Corporation |
| Kestra Investment Services, LLC | |
| Thomas Polston | Stifel, Nicolaus & Company, Incorporated |
| Advest, Inc. | |
| Virgil Richmond II | Wells Fargo Clearing Services, LLC |
| J.P. Morgan Securities LLC | |
| Matthew Siliato | Wynston Hill Capital, LLC |
| Spartan Capital Securities, LLC | |
| Steven Thrush | Summit Brokerage Services, Inc. |
| Cambridge Investment Research, Inc. | |
| John Wyshak | Raymond James & Associates, Inc. |
| Wedbush Securities Inc. |
Silver Law Group has filed a FINRA dispute resolution claim against Wells Fargo and one of its brokers on behalf of a client who lost over $1,000,000 as a result of bad real estate investment advice he received from his broker.
Silver Law Group has filed arbitration claims against Wells Fargo. If you have investment losses, contact us today for a no-cost consultation at 855-755-4799. Continue reading
Christopher Tolmacs (CRD#: 4648724), a barred broker formerly with Triad Advisors, Inc. (CRD#: 25803) in Portage, MI, is the subject of 18 disclosures on his publicly available FINRA BrokerCheck report.
Christopher Tolmacs has been in the industry since 2003. Before joining Triad Advisors in 2008, he previously worked for ING Financial Partners, Inc. (CRD#: 2882) and Vanguard Capital (CRD#: 22081). Continue reading
Silver Law Group has filed a FINRA arbitration claim against Kalos Capital, Inc. (CRD# 44337) regarding broker Eric Weschke (CRD# 3486324) and losses our client suffered by investing in GPB Capital Holdings.
Eric Weschke has been in the industry since 1994, and works out of Setauket, New York. Before joining Kalos in 2011, Weschke was registered with Harrison Douglas, Inc. (CRD# 16515), Alternative Wealth Strategies (CRD#130933), Equity Services, Inc. (CRD# 265), Self Trading Securities, Inc. (CRD# 38439), and Tasin & Company, Inc. (CRD# 30709). Continue reading
FINRA requested comments on its proposed rule to limit registered representatives from being “named as a customer’s beneficiary or holding a position of trust for or on behalf of a customer.” Silver Law Group, a nationally-recognized investor rights law firm, has submitted a comment letter to FINRA that states our support for addressing this issue. Submitted by managing partner, Scott Silver, Esq., he comments that our firm has seen a rise in cases involving stockbrokers who improperly borrow money from clients, pressure clients to make the financial advisor part of the estate, and other trust and estate issues. Continue reading
Matthew Crafa (Matthew William Crafa) (CRD#: 3114277), a currently-registered broker with Royal Alliance Associates, Inc (CRD#: 23131) in Garden City, New York, is the subject of 2 disclosures on his publicly-available FINRA BrokerCheck report, which are both customer disputes. Mr, Crafa allegedly sold GPB to many residents in Boca Raton, Florida.
Crafa has been at Royal Alliance Associates since 2007. Before that, he worked for Oppenheimer & Co Inc. (CRD#: 249), Ladenburg, Thalmann & Co. Inc. (CRD#: 505), Quick & Reilly, Inc. (CRD#: 11217), Prudential Securities Incorporated (CRD#: 7471), Dean Witter Reynolds Inc. (CRD#: 7556), Royce Investment Group, Inc. (CRD#: 10494). Continue reading
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