Securities Arbitration Lawyers Blog

Christopher Kane Subject of $871K Customer Dispute

August 27, 2018 | Silver Law Group

Broker Christopher Kane (Christopher Brandon Kane CRD #5486515), was formerly registered with National Securities Corporation (CRD #7569) in South Norwalk, CT. He was previously employed with Laidlaw & Company (Uk) Ltd. (CRD #119037) of Stamford, CT and the now-defunct HFP Capital Markets LLC of New York, NY (CRD #44351; FINRA expelled this company on 06/25/2014.) He has been in the industry since 2007, and registered as a broker since 2010.

Kane has only one disclosure in his FINRA record, which was filed on 6/11/2018. In it, the client alleges “churning, unauthorized and unsuitable trading from 2012-2017.” Requested damages total $871,256.00. Kane was employed with Laidlaw & Company at the time of the allegations. The case is currently pending, and no additional information is available.

Did You Invest With Christopher Kane?

Former Broker Shaun Hayes Accused Of Unauthorized Trading

August 27, 2018 | Silver Law Group

Investment advisor Shaun Eugene Hayes (CRD #4963876) is a former broker who has been employed with McElhenny Sheffield Capital Management in Dallas, TX since 8/17. He was previously registered with Merrill Lynch, Pierce, Fenner & Smith Incorporated (CRD #7691) of Fort Worth, and AXA Advisors, LLC (CRD #6627) of New York, NY. He was also employed by Bank of America in Fort Worth, but was not registered there. He has been in the industry since 2005.

Hayes is the subject of seven customer complaints, with all but one filed on 12/15/2017. Of these, four have been settled. All of the complaints allege unauthorized trading through different time periods from 2012 through 2017. The four settled cases have total damages of $355,000. No damage amounts are listed in the remaining three cases.

Did You Invest With Shaun Hayes?

Brokers Who Sold American Finance Trust Under Investigation; AFIN Begins Public Trading 40% Less than What Investors Initially Purchased it for

August 22, 2018 | Silver Law Group

Silver Law Group is investigating brokers and brokerage firms that sold American Finance Trust, Inc. Recently, the American Finance Trust (Stock Ticker: AFIN) begins trading on the Nasdaq Exchange 40% less than what investors initially paid.

The SEC Has Proposed New Regulations for Fiduciaries

August 22, 2018 | Silver Law Group

What the new code of conduct rule entails and how it could affect elderly investors

Up until earlier this year, the Department of Labor had a rule in effect for fiduciaries that specified that they couldn’t earn commissions unless the advice they offered was in the best interests of their clients. In addition, the rule mandated that they could only earn reasonable compensation and must be transparent about this compensation as well as the products they sell.

However, in March, a federal appeals court struck down the DOL’s rule. Recently the SEC proposed their own rule – called Regulation Best Interest or Reg BI – that aims to address three areas:

Broker Michael B. Barnett Allegedly Invests Client Funds in Speculative Securities

August 21, 2018 | Silver Law Group

Michael Barnett (CRD #5792242) is a currently registered broker and investment advisor working with J.J.B. Hilliard, W.L. Lyons, LLC of Marion, IL (CRD #453). He has been with Hilliard Lyons since 2012. Previously, Barnett was registered with Edward Jones (CRD #250) of Herrin, IL. He has been in the industry since 2010.

Bahram-Mirhashemi-Facing-Allegations-of-Elder-Financial-Fraud-300x200 Barnett has three pending customer complaints in 2018, with the damages requested totaling $133,529.56. Two of these claims involve allegations of over-concentration and losses related to a company called Breitburn Energy (BBEP), and that the company was unsuitable for the clients. Both complaints include allegations of breach of contract and fiduciary duty, violation of Kentucky Consumer Protection Act, Kentucky Blue Sky Law, and the Illinois Consumer Fraud Act. The third 2018 complaint, also pending, allege “breach of fiduciary duty, violation of Illinois’ Securities Act (Section 815 ILCS 5/12 et al.), negligence/negligent misrepresentation/omission, breach of contract, restitution, common law fraud, and negligent supervision.”

In 2017, Barnett had two additional customer complaints. In one case, the client alleges “unauthorized trading in an unsuitable security.” The second complaint alleges “misrepresentation, unsuitable investments, and unauthorized trading in a single security beginning in 2014 through 2015.” The client has requested damages of $1.5 million.

Broker Robert Cleary Subject to Negligence Allegations

August 21, 2018 | Silver Law Group

Broker Robert Cleary (CRD #1505792) is a currently registered broker with Stifel, Nicolaus & Company, Incorporated (CRD #793) of New York, NY, since 2007. He was previously employed with Ryan Beck & Co. (CRD #3248), Gruntal & Co., L.L.C. (CRD#:372) Lehman Brothers Inc. (CRD #7506), all of New York, NY. He has been in the industry since 1986.

Cleary currently has a pending customer dispute in which the client alleges “alleges breach of fiduciary duty, negligence, and breach of contract,” with damages requested of $300,000. Filed o Boca-Raton-Financial-Advisor-Robert-Child-Faces-Yet-Another-Customer-Dispute-300x199 n 5/17/18, no additional information is available.

One previous dispute in 2016 alleged “losses due to inappropriate investment recommendations. 3/31/15 through 5/6/15.” Damages were requested in the amount of $70,000. The client was awarded $40,000, and the case was settled.

FINRA Suspends Registered Individuals in July 2018 for Failure to Comply with FINRA Rules

August 21, 2018 | Silver Law Group

According to FINRA Disciplinary actions for July 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
Anthony Carpenter	UBS Financial Services Inc
Anthony Carpenter	A.G. Edwards & Sons, Inc
James Benjamin Fellus	Spencer-Winston Securities Corp
James Benjamin Fellus	White, Weld & Co. Securities, LLC
Robert Lee Maupin	Fidelity Brokerage Services LLC
Robert Lee Maupin	Cuso Financial Services, L.P.
Gary Lee Wright	Pensionmark Financial Group, LLC
Gary Lee Wright	Pinnacle Wealth Planning Services, Inc

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.

In July 2018 FINRA Bars Registered Individuals for Violations of FINRA Rules

August 21, 2018 | Silver Law Group

According to FINRA Disciplinary actions for July 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
Fernando Enrique Acosta
Paul Anthony Bustamante	Empire Asset Management Company
Paul Anthony Bustamante	Bishop, Rosen & Co, Inc
Janna L. Carruth-Vogler
Xavier Dwight Clinton	J.P. Morgan Securities LLC
Xavier Dwight Clinton	Massachusetts Mutual Life Ins Co
Thomas Matthew Dunlap	AXA Advisors LLC
Saima Ashraf Durrani	J.P. Morgan Securities LLC
Saima Ashraf Durrani	Chase Investment Services Corp
Joshua David Ellis	LPL Financial LLC
Joshua David Ellis	BCG Securities, Inc
James Benjamin Farris	Merrill Lynch, Pierce, Fenner & Smith Inc
James Benjamin Farris	UBS Financial Services Inc
Samuel LaWayne Haddix	Ameriprise Financial Services, Inc
Samuel LaWayne Haddix	IDS Life Insurance Company
Mark Anthony Hernandez	UBS Financial Services Inc
Mark Anthony Hernandez	Morgan Stanley
Christopher Lee Hibbard	Merrill Lynch, Pierce, Fenner & Smith Inc
Abed William Lulu	Worden Capital Management LLC
Abed William Lulu	Rockwell Global Capital LLC
Michael Ray Matos	J.P. Morgan Securities LLC
Michael Patrick Nanto	J.P. Morgan Securities LLC
Michael Patrick Nanto	Mutual of Omaha Investor Services, Inc.
Albert John Papada	Horace Mann Investors, Inc
Zachary T. Rawson	Merrill Lynch, Pierce, Fenner & Smith Inc
Zachary T. Rawson	Bank of America, NA
Anteneh A. Roberts	Merrill Lynch, Pierce, Fenner & Smith Inc
Anteneh A. Roberts	PNC Investments
Jeanette Maria Sanchez

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 Suspends Registered Individuals in July 2018 for Violations of FINRA Rules

August 21, 2018 | Silver Law Group

According to FINRA Disciplinary actions for July 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
Alan Demond Garrett	Fidelity Brokerage Services LLC
Shawn Arthur Goding	Allstate Financial Services, LLC
Shawn Arthur Goding	Shawn Goding Insurance
Ramon Arturo Herrera	Wells Fargo Clearing Services, LLC
Michael Dennis Jackson	Securities America, Inc
Michael Dennis Jackson	Brecek & Young Advisors, Inc
Mandee Khu	J.P. Morgan Securities LLC
Mandee Khu	Chase Investment Services Corp
Spencer Joseph Lassetter	Fidelity Brokerage Services LLC
Andrea Marie Milinkovic	PNC Investments
Andrea Marie Milinkovic	Suntrust Investment Services, Inc
Stephen Allen Murray	Raymond James & Associates, Inc
Stephen Allen Murray	Morgan Keegan & Company, Inc
George James Oldoerp	H. Beck, Inc
George James Oldoerp	Diversified Securities, Inc
Mary E. Olson
Paul Joseph Prestia	Laidlaw & Company
Paul Joseph Prestia	Network 1 Financial Securities, Inc
Amanda Justine Sarabia
David Warren Taylor	Lincoln Financial Securities Corporation

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.

Multiple Complaints Against Former Broker Michael Fitz-Gerald

August 20, 2018 | Silver Law Group

Former broker and investment advisor Michael Edward Fitz-Gerald (aka Michael Edward Fitzgerald, CRD #209062) was last registered with Morgan Stanley (CRD #149777) of San Francisco, CA. Previous employers include Morgan Stanley & Co. Incorporated (CRD #8209) and UBS Financial Services Inc. (CRD #8174), both of San Francisco. He began working in the industry in 1969.

New-York-Broker-Gregory-Flemming-Suspended-by-FINRA-300x200 Fitz-Gerald is the subject of six disputes, dating back to 1987. The latest, filed on 6/6/2018, is pending, and requesting damages totaling $240,000 and allege, “inter alia, unsuitability with respect to investments in accounts -2014 to 2015.”

The previous dispute, filed on 2/14/2017, requested damages of $2,348,175.00, and settled for $185,000. The client alleged that his portfolio was insufficiently diversified from 2012 to 2016. A year before, in 2016, another dispute was filed, with the same allegation of insufficient diversification in the account from 2010 through 2015. The damages were unspecified, and case was settled for $50,000.