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Articles Posted in Stockbroker Misconduct

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Maria Leon (Maria De Los Angeles Leon CRD# 6042515, aka, Maria D. Del Real, Maria De Los Angeles Del Real, Maria Del Real, Maria D Delreal, Maria D. Delreal, Maria De Los Angeles Delreal, Maria Delreal) is a previously registered broker last employed with PNC Investments (CRD# 129052) of Grand Rapids, MI. Her previous employers were J.P. Morgan Securities LLC (CRD# 79) of Chicago, IL and San Leandro, CA, and Chase Investment Services Corp. (CRD# 25574) of Michigan City, IN. She has been in the industry since 2012. PNC Investments discharged Leon on August 13, 2024 for misappropriation of customer funds following an investigation. The firm issued a Uniform Termination Notice for Securities Industry Registration (Form U5) for her termination. Despite no longer being an employee of PNC or any other member broker-dealer, Leon continues to be subject to FINRA’s jurisdiction. FINRA sent requests for related information, documents, and for on-the-record testimony to Leon on September 10, 2024.  Leon acknowledged the requests in an email on the same day and declined to provide the requested documents and information and refused any on-the-record testimony. This refusal violates FINRA Rules 8210 and 2010.Maria Leon (Maria De Los Angeles Leon CRD# 6042515, aka, Maria D. Del Real, Maria De Los Angeles Del Real, Maria Del Real, Maria D Delreal, Maria D. Delreal, Maria De Los Angeles Delreal, Maria Delreal) is a previously registered broker last employed with PNC Investments (CRD# 129052) of Grand Rapids, MI. Her previous employers were J.P. Morgan Securities LLC (CRD# 79) of Chicago, IL and San Leandro, CA, and Chase Investment Services Corp. (CRD# 25574) of Michigan City, IN. She has been in the industry since 2012. Continue reading ›

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Roy Williams (Roy Kevin Williams CRD# 843607) is a former registered broker and investment advisor last employed with Stifel, Nicolaus & Company, Incorporated (CRD# 793) of Indianapolis, IN. He was previously employed with Morgan Stanley Smith Barney (CRD# 149777) and Citigroup Global Markets Inc. (CRD# 7059), also of Indianapolis, and Merrill Lynch, Pierce, Fenner & Smith Incorporated (CRD# 7691). He has been in the industry since 1977. On June 5, 2023, a customer filed a dispute alleging that Williams convinced them to “make personal loans to him from 2019 through 2021. The client requested damages of $59,000, and the dispute was settled for the same amount.Roy Williams (Roy Kevin Williams CRD# 843607) is a former registered broker and investment advisor last employed with Stifel, Nicolaus & Company, Incorporated (CRD# 793) of Indianapolis, IN. He was previously employed with Morgan Stanley Smith Barney (CRD# 149777) and Citigroup Global Markets Inc. (CRD# 7059), also of Indianapolis, and Merrill Lynch, Pierce, Fenner & Smith Incorporated (CRD# 7691). He has been in the industry since 1977. Continue reading ›

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After discovering that four of its financial advisors had committed fraud with automatic bank transfers, Morgan Stanley Smith Barney (MSSB) has agreed to pay $15 million in fines and other sanctions for failing to have reasonable theft detection in place. Prior to December of 2022, MSSB did not have a system that screened and detected unauthorized transfers and payments made by Automatic Clearing House (ACH) and other types of cash transfers. Both methods were unauthorized, and the financial advisors were able to transfer millions of customer funds to their own accounts.After discovering that four of its financial advisors had committed fraud with automatic bank transfers, Morgan Stanley Smith Barney (MSSB) has agreed to pay $15 million in fines and other sanctions for failing to have reasonable theft detection in place. Continue reading ›

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Blog-Graphics1Silver Law Group founder Scott Silver was recently interviewed by Investment News for an article about Henry Duval, formerly known as “Roger Allen Duvall.” Duvall was barred by FINRA in 2020 after it found he was selling away and misappropriating funds while associated with MML and Pruco, two former employers. Continue reading ›

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Silver Law Group’s managing partner Scott Silver discussed a recent ruling from a California court that gave two brokers a temporary restraining order (TRO) against FINRA in arbitration over their sales of GHG Holdings’ illiquid L-Bonds.  “This appears to be a Hail Mary pass by two brokers who are taking a ‘never say die’ approach to arbitration,” Scott said in a recent AdvisorHub article. "In this case, FINRA's position is correct, straightforward, and investor friendly."Silver Law Group’s managing partner Scott Silver discussed a recent ruling from a California court that gave two brokers a temporary restraining order (TRO) against FINRA in arbitration over their sales of GWG Holdings’ illiquid L-Bonds.

“This appears to be a Hail Mary pass by two brokers who are taking a ‘never say die’ approach to arbitration,” Scott said in a recent AdvisorHub article. “In this case, FINRA’s position is correct, straightforward, and investor friendly.” Continue reading ›

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According to FINRA Disciplinary actions for November, 2024, 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
Helen Andrews Morgan Stanley
Barclays Capital Inc.
Vincent Fuchs Steward Partners Investment Solutions, LLC
Raymond James Financial Services, Inc.
Wentworth Gardner CUNA Brokerage Services, Inc.
AXA Advisors, LLC
Colton Jacob Steward Partners Investment Solutions, LLC
Raymond James Financial Services, Inc.
Gail Milon ELE Wealth Advisors, Inc.
MSI Financial Services, Inc.
Michael Paesano Morgan Stanley
UBS Financial Services Inc.
David Page Spartan Capital Securities, LLC
SW Financial
Any Zwaan LPL Financial LLC
Wealthplan Partners

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According to FINRA Disciplinary actions for November 2024, 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
Juan Gomez
James Easter Independent Financial Group, LLC
NPB Financial Group, LLC
Janelle English
Sara Jankowski Stifel, Nicolaus & Company, Incorporated
City Securities Corporation
David Love LaSalle St Securities, LLC
ICMA-RC Services, LLC
James Marrero American Portfolios Financial Services, Inc.
BCG Securities, Inc.
Luis Castanon J.P. Morgan Securities LLC
Michael Russo Spartan Capital Securities, LLC
Craft Capital Management LLC

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According to FINRA Disciplinary actions for November 2024, 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
Zev Bishop Raymond James Financial Services, Inc.
Juan Gauna NYLife Securities LLC
Gauna Financial services, LLC
Timothy Jefferson Aegis Capital Corp.
Ameriprise Financial Services, LLC
Mariah Nagy J.P. Morgan Securities LLC
Barak Rebibo J.P. Morgan Securities LLC
Courtney Smith Spire Securities, LLC
Hightower Securities, LLC
Daniel Turner Vanguard Marketing Corporation

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Alan Mason (CRD# 1302190, a/k/a Alan M Mason, Alan Mark Mason, Alan Mason) is a registered broker and previously registered investment advisor currently registered with Bradley Woods & Co. LTD. (CRD# 13660) of New York, NY.  His most recent previous employers include Westpark Capital, Inc. (CRD# 39914), Wilmington Capital Securities, LLC (CRD# 133839), and Forefront Capital Markets, LLC (CRD# 151812), all of New York, NY. He has been in the industry since 1984. During Mason’s employment with Westpark Capital in July of 2020, he recommended to one client that she invest 20% of her liquid net worth into the speculative and risky GWG Holdings L-Bonds. The investment was not in the customer’s best interest based on her investment profile and goes against Regulation Best Interest.Alan Mason (CRD# 1302190, a/k/a Alan M Mason, Alan Mark Mason, Alan Mason) is a registered broker and previously registered investment advisor currently registered with Bradley Woods & Co. LTD. (CRD# 13660) of New York, NY.  His most recent previous employers include Westpark Capital, Inc. (CRD# 39914), Wilmington Capital Securities, LLC (CRD# 133839), and Forefront Capital Markets, LLC (CRD# 151812), all of New York, NY. He has been in the industry since 1984. Continue reading ›

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Ariel Rivero (CRD# 4236679, a/k/a Rivero A Ariel A, Ariel A Rivero Mr.) is a previously registered broker and investment advisor last employed with Insigneo Securities, LLC (CRD# 29249) of Coral Gables, FL. His previous employers include Jefferies LLC (CRD# 2347) and Oppenheimer & Co. Inc. (CRD#:249), both of Miami, and Morgan Stanley (CRD# 149777) of Boca Raton, FL.  He has been in the industry since 2000. Rivero was recently suspended for six months and fined $15,000 for multiple violations of firm, FINRA and SEC policies. In its investigation, FINRA found that Rivero was using WhatsApp for firm-related communications with clients, including a conversation with a customer (also his former brother-in-law) that occurred in April of 2021. In that conversation, the customer complained to Rivero about $300,000 in losses he suffered from non-traditional exchange traded funds purchased from Rivero.Ariel Rivero (CRD# 4236679, a/k/a Rivero A Ariel A, Ariel A Rivero Mr.) is a previously registered broker and investment advisor last employed with Insigneo Securities, LLC (CRD# 29249) of Coral Gables, FL. His previous employers include Jefferies LLC (CRD# 2347) and Oppenheimer & Co. Inc. (CRD#:249), both of Miami, and Morgan Stanley (CRD# 149777) of Boca Raton, FL.  He has been in the industry since 2000. Continue reading ›

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