Securities Arbitration Lawyers Blog

In December 2018, FINRA Suspends Registered Individuals for Violations of FINRA Rules

January 3, 2019 | Silver Law Group

According to FINRA Disciplinary actions for December 2018, 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
Barrick, Tabor	FBL Marketing Services, LLC
Barrick, Tabor	Allstate Financial Services, LLC
Conklin, Jeffrey	The Huntington Investment Company
Conklin, Jeffrey	American General
Crocker, Sierra	Voya Financial Partners, LLC
Crocker, Sierra	Suntrust Bank
Fidelman, Peter	Bradley Woods & Co LTD
Fidelman, Peter	Griffin Securities, Inc
Gaston, Frantz	State Farm VP Management Corp
Gaston, Frantz	Frantz Gaston Jr Insurance Agency
Guillory, Michael	Financial West Group
Guillory, Michael	The Shemano Group
Harris, Donna	Vanguard Marketing Corp
Hartigan, John	Entrustpermal Securities LLC
Hartigan, John	Calyon Financial Inc
Henty, Omar	Cetera Advisors LLC
Henty, Omar	JP Morgan Securities
King, Erin	Wells Fargo Clearing Services
Lossing, Christopher	LPL Financial LLC
Lossing, Christopher	Edward Jones
McNeil, Randolph	Buckman, Buckman & Reid, Inc
McNeil, Randolph	Garden State Securities, Inc
Manichino, Richard	Next Financial Group, Inc
Manichino, Richard	Wunderlich Securities, Inc
Nicholl, Timothy
Olson, Eric	NYLIFE Securities LLC
Olson, Eric	Wells Fargo
Perez, Paul	Investacorp, Inc
Perez, Paul	Fintegra, LLC
Simon, Justin	NYLIfe Securities LLC
Simon, Justin	Country Capital Mgmt Company
Strawn, Brandon
Sullivan, Daniel	Wunderlich Securities, Inc
Sullivan, Daniel	Chapdelaine & Co
Tinsley, Sean	Park Avenue Securities LLC
Tinsley, Sean	AXA Advisors, LLC
Vallencourt, Peter	Fidelity Brokerage Services LLC
Wilson, Vance	Wells Fargo Clearing Services, LLC
Wilson, Vance	Fidelity Brokerage Services LLC
Witt, Robert	Voya Financial Advisors, Inc
Witt, Robert	ING Financial Partners, Inc
Wood, Daniel	LPL Financial LLC
Wood, Daniel	Morgan Stanley Smith Barney
Wright, Bryan	Pruco Securities, LLC
Wright, Bryan	The Prudential Insurance Company of America

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.

Registered Individuals Barred by FINRA in December 2018 for Violations of FINRA Rules

January 3, 2019 | Silver Law Group

According to FINRA Disciplinary actions for December 2018, 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
Adamo, Gregory	Allstate Financial Services, LLC
Adamo, Gregory	National Securities Corp
Drill, John	Northwestern Mutual Investment Services, LLC
Drill, John	Robert Baird & Co. Inc
Flores, Daniel	Woodbury Financial Services, Inc
Flores, Daniel	Princor Financial Services Corp
Giraldo, Jose	Merrill Lynch, Pierce, Fenner & Smith Inc
Giraldo, Jose	David Lerner Assoc, Inc
Heitz, Donald	LPL Financial LLC
Heitz, Donald	First Command Financial Planning, Inc
Jenkins, Elisabeth	LPL Financial LLC
Jenkins, Elisabeth	ESL Investment Services, LLC
Krize, Joshua	Wells Fargo Clearing Services, LLC
Krize, Joshua	Country Capital Management Co
Lanaia, Francine	Windsor Street Capital, LP
Lanaia, Francine	Alexander Capital, LP
Moore, Daniel
Palmer, David	LPL Financial LLC
Palmer, David	Woodbury Financial Services, Inc
Pheth, Somning	Wells Fargo Clearing Services
Sachse, Mark	Ameriprise Financial Services, Inc
Sachse, Mark	Robert W. Baird & Co, Inc
Schreiner, Phillip	Morgan Stanley
Schreiner, Phillip	Merrill Lynch, Pierce, Fenner & Smith, Inc
Sterr, Margaret	M Holdings Securities, Inc
Sterr, Margaret	Catalyst Solutions Group
Suhar, Charles	The Huntington Investment Company
Suhar, Charles	LPL Financial LLC
Swords, Zachary	Farmers Financial Solutions, LLC
Valenzuela, Francisco	Morgan Stanley
Valenzuela, Francisco	Merrill Lynch, Pierce, Fenner & Smith, Inc

FINRA makes this information available, in part, to inform investors about potential red flags or problems with certain stockbrokers. If you invested with anyone in this report and have questions about your legal rights, our attorneys will talk with you at no cost to explain your legal rights and about how we can help recover your investment losses through securities arbitration or litigation.

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 Names Individuals Suspended in December 2018 for Failing to Comply with FINRA Rules

January 3, 2019 | Silver Law Group

According to FINRA Disciplinary actions for December 2018, 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
Albin, William	Waddell & Reed
	Metlife Securities Inc
Allen, David	Avenir Financial Group
	Gunnallen Financial, Inc
Boupon, Kean	Morgan Stanley
	Merrill Lynch, Pierce, Fenner & Smith Inc
Chang, Jonathan	Morgan Stanley
	Merrill Lynch, Pierce, Fenner & Smith Inc
Clements, Michael	Intercoastal Capital Markets, Inc
	Avenir Financial Group
Fagenson, David	UBS Financial Services Inc
	Merrill Lynch, Pierce, Fenner & Smith Inc
Kelly, James	Morgan Stanley
	Merrill Lynch, Pierce, Fenner & Smith Inc
Martino, Andrew	Morgan Stanley
	Merrill Lynch, Pierce, Fenner & Smith Inc
Miller, Frederick	Investshares
	Ameriprise Financial Services, Inc
Rodriquez, Cesar	Avenir Financial Group
	American Trust Investments Services Inc
Roth, Brian	Aeon Capital Inc
	The Benchmark Company, LLC
Sarria, Jorge	Morgan Stanley
	Merrill Lynch, Pierce, Fenner & Smith Inc
Weinstein, Gregg	Entrustpermal Securities LLC
	Cantor Fitzgerald & Co
Yassin, Mohamed	National Securities Corporation
	Morgan Stanley

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.

Our lawyers have extensive experience collecting FINRA arbitration awards, prevailing on Motions to Vacate FINRA arbitration awards and using various collection efforts to enforce FINRA awards after they are received.

FINRA Suspends Broker Jonathan Iraggi For Compliance Issue

December 31, 2018 | Silver Law Group

Jonathan William Iraggi (CRD #5857254) is a former registered broker whose last employer was National Securities Corporation (CRD #7569) of Morganville, NJ. His previous employers include Garden State Securities, Inc. (CRD #10083) of Red Bank, NJ, Spartan Capital Securities, LLC (CRD #146251) and Portfolio Advisors Alliance, Inc. (CRD #101680) of New York, NY. No current employment information is available. He has been in the industry since 2011.

David-Ledoux-Fined-and-Suspended-by-FINRA-After-Failing-to-Disclose-Liens-on-His-Registration-300x200 Iraggi is the subject of four disclosures, the most recent a disciplinary action by FINRA, as well as one employment discharge and two denied customer disputes. In the FINRA action, filed on 8/23/2018, Iraggi failed to notify his employer firm, Garden State Securities, that he had verbal authorization to exercise discretion in three customer accounts. Iraggi did not obtain written authorization from the clients, nor written authorization from the firm to service the accounts on a discretionary basis.

Later, when filling out an annual compliance questionnaire in December of 2016, Iraggi failed to disclose to the firm that he had exercised discretion with a customer’s account, answering “no” when he actually had. Iraggi was fined $5,000 and a 30-day suspension from any association with a FINRA member firm, consented to the findings and signed a letter of Acceptance, Waiver & Consent (AWC.)

Atul Makharia Customer Disputes Allege Unsuitability

December 28, 2018 | Silver Law Group

Atul Makharia (CRD #5070762) is a registered broker currently employed with Centaurus Financial, Inc. (CRD #30833) of Lexington, SC. Makharia’s previous employers are J.P. Turner & Company, L.L.C. (CRD #43177), Gunnallen Financial, Inc. (CRD #17609), and First Allied Securities, Inc. (CRD #32444), also of Lexington, SC. Makharia has been in the industry since 2006.

Broker-Ricardo-Broome-Permanently-Barred-From-FINRA-300x200-300x200 There are three disclosures in Makharia’s FINRA record. Two nearly identical customer disputes were filed on 11/8/018 and 10/15/2018. Both allege “unsuitability,” and one describes but doesn’t include “several other allegations associated therewith.” Makharia denies allegations in both disputes. Both disputes are currently pending.

A third customer dispute, filed on 1/31/2017 with the state of South Carolina, alleges that Makharia sold the customer a CD but failed to provide a prospectus. The client requested damages of $20,000. After an investigation provided the required information to the state, the claim was closed with no further actions.

Broker Ricky Mantei Subject To Allegations Of Unsuitability

December 28, 2018 | Silver Law Group

Ricky Allen Mantei (CRD #1098981, aka “Ricky Allen Mantel”) is a registered broker currently employed with Centaurus Financial, Inc. (CRD #30833) of Lexington, SC. His previous employers include J.P. Turner & Company, L.L.C. (CRD #43177), Gunnallen Financial, Inc. (CRD #17609), First Allied Securities, Inc. (CRD #32444), also of Lexington, SC.

FINRA-Orders-Interactive-Brokers-LLC-to-Pay-Hedge-Fund-667000-1024x1024-300x300 Mantei is the subject of eight disclosures, three of which are currently pending customer disputes, all with the allegations of “unsuitability.” The most recent were filed on 10/25/2018 and 9/28/2018, with requested damages totaling $268,238.

The third customer dispute, filed on 5/21/2018, is from by the daughter of a deceased client. In this case, a registered representative under Mantei recommended “unsuitable investments” which resulted in a loss upon liquidation. The damages requested total $100,000. Mantei states in his rebuttal that he was acting in his capacity as Branch Manager for the Office of Supervisory Jurisdiction where the RR was assigned, there was a survivorship option involved, and denies the allegations.

Silver Law Group Client Wins FINRA Arbitration Award Against Texas Oil Broker-Dealer Including $1,000,000.00 in Punitive Damages

December 28, 2018 | Silver Law Group

FINRA Reports Brokers Nas Adel Allan and Gregory Anastos Made Unsuitable Recommendations on elderfinancialfraudattorneys.com Silver Law Group represented the Claimant in a FINRA arbitration claim against Texas E&P Partner, Inc. and Mark Plummer. Scott Silver, managing partner of Silver Law Group, a leading securities and investment fraud law firm, said “the Award is significant because we have seen a rise in cases involving private placements and alternative investments and we are grateful that the FINRA Panel recognized the damage caused by Respondent.

The securities arbitration claim alleged that Respondents sold a Reg D private placement to the Claimant without disclosing all of the risks and the investment was unsuitable. The FINRA Statement of Claim further alleged that the Respondents charged excess commissions or markups. Significantly, the FINRA Arbitration Panel found that Respondents are jointly and severally liable for and shall pay to Claimant the sum of $1,000,000.00 in punitive damages pursuant to Mastrobuono v. Shearson Lehman Hutton, Inc., 514 U.S. 52, 64 (1995).

If you’ve lost money investing in unsuitable private placements or Reg “D” offerings, you may be able to recover your investment losses. We take cases on a contingency fee basis, meaning you pay nothing unless we recover. Please contact Scott Silver of the Silver Law Group for a free consultation at ssilver@silverlaw.com or toll free at (800) 975-4345.

Kevin Wilson Subject of Two Disputes Totaling $2.4M

December 26, 2018 | Silver Law Group

Kevin Richard Wilson (CRD #326701) is a registered broker currently employed with National Securities Corporation (CRD #7569) of New York, NY. His previous employers include Laidlaw & Company (UK) LTD. (CRD #119037), Aegis Capital Corp. (CRD #15007) and Gilford Securities Incorporated (CRD #8076), all of New York, NY. He has been in the industry since 1999.

Why Private Placements are Often Risky and Unsuitable Investments on silverlaw.com Wilson has two disclosures, both pending customer disputes that were filed this year. The first was filed on 10/24/2018, alleging “unsuitability” from 2010 through 2017. The client requests damages of $2,000,000.00.

The second disclosure was filed on 07/09/2018, alleging over-concentration and unsuitability from 2009 through 2017. This client requests damages of $457,000.00.

FINRA Bars Jon Pariser After Allegations Of Customer Referrals To Unregistered Individual

December 20, 2018 | Silver Law Group

Our attorneys currently represent customers of Jon Pariser against Independent Financial Group for losses related to First Nationle Solution. Jon Richard Pariser (CRD #2755015) is a former registered broker whose last employer was Independent Financial Group, LLC (CRD #7717) of Pacific Grove, CA. His previous employers include SWS Financial Services, INC. (CRD #17587) and LPL Financial LLC (CRD #6413), also of Pacific Grove, CA. No current employment information is available. He has been in the industry since 1996.

South-Florida-Broker-Brian-Michael-Berger-Permanently-Barred-by-FINRA-1024x683-300x200 Pariser is barred in all capacities after he failed to provide requested information to FINRA for an investigation. The documentation relates to allegations that he referred some of his customers to an individual who was not a registered FINRA broker. This unregistered individual and may have recommended to or actually sold these customers “potentially unsuitable” securities. Pariser violated FINRA Rules 8210 and 2010 by refusing to provide this requested documentation, which led to him being barred. He signed an Acceptance, Waiver & Consent (AWC) letter consenting to the sanctions, and he is barred effective 10/04/2018.

His next disclosure is an employment separation from SWS Financial Services on 6/20/2014, which is connected by a closed customer dispute filed four days earlier, involving “unauthorized discretion.” The allegations state that “during the course of normal e-mail correspondence review, firm supervisors discovered an e-mail message from the customer containing language indicating that the representative may have engaged in unauthorized discretionary trading.”

November 2018 FINRA Disciplinary Actions Name Individuals Suspended by FINRA for Failing to Comply with FINRA Rules

December 18, 2018 | Silver Law Group

According to FINRA Disciplinary actions for November 2018, 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
Christopher Cervino	Primary Capital, LLC
	COR Clearing LLC
Abdul Chowdhury	AXA Advisors, LLC
	JP Morgan Securities LLC
Michael Durgin	Hilltop Securities Inc.
	First Southwest
Michael Giokas	Fortune Financial Services, Inc
	Comprehensive Asset Management and Servicing
Travis Marks	Wells Fargo Advisors, LLC
	JP Morgan Securities LLC
Richard Minichino	Next Financial Group, Inc
	Wunderlich Securities, Inc
Thomas Park	Merrill Lynch, Pierce, Fenner & Smith Inc
	Wells Fargo Clearing Services, LLC
Brian Roth	The Benchmark Company, LLC
	Intl Assets Advisory, LLC
Whitney Stewart	Morgan Stanley
	Edge Capital Group, LLC
James Taylor	First Empire Securities, Inc
	Morgan Stanley

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.

Our lawyers have extensive experience collecting FINRA arbitration awards, prevailing on Motions to Vacate FINRA arbitration awards and using various collection efforts to enforce FINRA awards after they are received.