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Articles Posted in Stockbroker Misconduct

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Eric Fiallo (CRD# 5123703) is a former registered broker last employed with PFS Investments Inc. (CRD# 10111) of Hialeah, FL, from 2008 through 2025. Fiallo resigned from PFS Investments on 6/2/2026 while under an internal review following allegations of borrowing money from a firm client. FINRA reviewed Fiallo’s Form U5 filed by PFS Investments and began investigating. On October 14, 2025, FINRA sent Fiallo a request for documents and information related to the investigation. In an email dated November 14, 2025, Fiallo responded to FINRA’s request, stating that although he received the request, he would not provide documentation and information as requested.Eric Fiallo (CRD# 5123703) is a former registered broker last employed with PFS Investments Inc. (CRD# 10111) of Hialeah, FL, from 2008 through 2025.

Fiallo resigned from PFS Investments on 6/2/2026 while under an internal review following allegations of borrowing money from a firm client. FINRA reviewed Fiallo’s Form U5 filed by PFS Investments and began investigating. On October 14, 2025, FINRA sent Fiallo a request for documents and information related to the investigation. In an email dated November 14, 2025, Fiallo responded to FINRA’s request, stating that although he received the request, he would not provide documentation and information as requested. Continue reading ›

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Shareholders in publicly traded Blue Owl Capital Corporation (OBDC) recently filed a derivative lawsuit that accuses investment adviser Blue Owl Credit Advisors LLC of breaching its fiduciary duties under the Investment Company Act of 1940 by inflating asset valuations to extract excessive fees. The complaint was filed in April in the U.S. District Court in ​Manhattan. Blue Owl Credit Advisors LLC, the defendant in the case, serves as the external manager of the fund and is an indirect affiliate of Blue Owl Capital Inc. In the lawsuit, the plaintiff, Richard Delman, alleges that the adviser steadily inflated the value of these illiquid "Level 3" assets to drive up their fees. As evidence of this overstatement, Delman showed the consistent gap between the reported net asset value and publicly traded share price.Shareholders in publicly traded Blue Owl Capital Corporation (OBDC) recently filed a derivative lawsuit that accuses investment adviser Blue Owl Credit Advisors LLC of breaching its fiduciary duties under the Investment Company Act of 1940 by inflating asset valuations to extract excessive fees. The complaint was filed in April in the U.S. District Court in ​Manhattan. Blue Owl Credit Advisors LLC, the defendant in the case, serves as the external manager of the fund and is an indirect affiliate of Blue Owl Capital Inc. Continue reading ›

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According to FINRA Disciplinary actions for May 2026, 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
Joshua Aaron Dean Merrill Lynch, Pierce, Fenner

USAA Investment Services Company

USAA Financial Advisors, Inc.

TIAA-CREF Individual & Institutional Services LLC
TD Ameritrade, Inc.

Charles Schwab & Co., Inc.

 
Joseph Gordon Nelson G.A. Repple & Company

Great Point Capital LLC

JRL Capital Corporation

Westpark Capital, Inc.

Newport Coast Securities, Inc.

Investors Capital Corp.

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According to FINRA Disciplinary actions for May 2026, the following individuals were suspended from FINRA and currently cannot 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
William Kershaw NYLife Securities LLC
Ricky Allen McReynolds Multi-Bank Securities, Inc.

Kipling Jones & Co., Ltd.

Harvestons Securities, Inc.

The Riderwood Group Incorporated
Fernando Mendez LPL Financial LLC

Edward Jones

NYLife Securities LLC

J.P. Morgan Securities LLC
Robert Leroy Metz Fidelity Brokerage Services LLC
Ryan Mitchell Pigg  Charles Schwab & Co., Inc.
Hanspeter Schiegg Vontobel Securities Ltd.
Keith Wesley Schongar  Empower Financial Services, Inc.

TD Ameritrade, Inc.

Scottrade, Inc.

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According to FINRA Disciplinary actions for May 2026, 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
Vincent Jerome Camarda IBN Financial Services, Inc.

Traderfield Securities Inc.

American Portfolios Financial Services, Inc.

LPL Financial LLC
Brian Ariel Chicas  NYLife Securities LLC
Timothy James Gardner Ameriprise Financial Services, LLC

IDS Life Insurance Company

PFS Investments Inc.
James Edward McArthur  IBN Financial Services, Inc.

Traderfield Securities Inc.

American Portfolios Financial Services, Inc.

LPL Financial LLC
Brendan Kammerer  Ameriprise Financial Services, LLC

Oppenheimer & Co. Inc.

Wells Fargo Clearing Services, LLC

Credit Suisse Securities (USA) LLC
Glenn J Romer Center Street Securities, Inc.

Lincoln Financial Securities Corporation
James Keith Cox Newbridge Securities Corporation

Stifel, Nicolaus & Company, Incorporated

Sterne, Agee & Leach, Inc.

Stanford Group Company
Eileen Law Cure LPL Financial LLC

HD Vest Investment Services

Investment Management & Research, Inc.

Merrill Lynch, Pierce, Fenner
Randy Cleve Fox GT Securities, Inc.

Portsmouth Financial Services

Charles Schwab & Co., Inc.

Atel Securities Corporation

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According to FINRA Disciplinary actions for May 2026, the following individuals were suspended from FINRA and currently cannot 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
Eugene W. Antosh Amerirprise Financial Services, LLC

Edward Jones

Metlife Investors Distributions
Carolyn Marie Dammeyer W&S Brokerage Services, Inc.
Matthew Adam North Jackson National Life Distribution

Geneos Wealth Management, Inc.

Scottrade, Inc.

Sammons Securities Company, LLC

Sigma Financial Corporation
Danielle Rose Sonnenberg Innovation Partners LLC

Sloan Securities Corp.

Continue reading ›

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According to FINRA Disciplinary actions for May 2026, 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
Jeremy Matthew Benson Nylife Securities LLC
Nafissa Diallo Wells Fargo Clearing Services, LLC

Continue reading ›

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According to FINRA Disciplinary actions for April 2026, 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
Maher Dabbouseh  Edward Jones
Adam Scott Kaplan Merrill Lynch, Pierce, Fenner

Morgan Stanley
Daniel Evan Kaplan Merrill Lynch, Pierce, Fenner

Morgan Stanley
Sean Patrick McCrory  Morgan Stanley

J.P. Morgan Securities LLC
Drew Matthew Peacock Ameriprise Financial Services, LLC

Edward Jones

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According to FINRA Disciplinary actions for March 2026, 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
Phillip Curtis Anderson Kingswood Capital Partners, LLC

Niagara International Capital

Wells Fargo Advisors Financial Network, LLC

Merrill Lynch, Pierce, Fenner
Philip Leo Gazzo MCG Securities LLC

Mutual Trust Company of America Securities

Innovation Partners LLC

FNEX Capital, LLC
Luke Lannister Grove Point Investments, LLC

Cuso Financial Services, L. P.

Capital One Investing, LLC

NFP Advisor Services, LLC

Continue reading ›

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According to FINRA Disciplinary actions for March 2026, the following individuals were suspended from FINRA and currently cannot 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
Joshua Aaron Dean Merrill Lynch, Pierce, Fenner

USAA Investment Services Company

USAA Financial Advisors, Inc.

TIAA-CREF Individual & Institutional Services, LLC
Patrick Michael Roraff

Continue reading ›

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