Securities Arbitration Lawyers Blog

Broker Dawn Bennett Has Suspension Lifted by FINRA

December 29, 2016 | Silver Law Group

Broker Dawn Bennett Has Suspension Lifted by FINRA on silverlaw.com

Though she is not currently licensed, she was last employed as a broker with Western International Securities in Washington, DC

In August of 2016, Dawn Bennett was contacted by the Financial Industry Regulatory Authority (FINRA) with a request for information regarding an “investigation involving potentially serious violations.” Because Bennett didn’t respond, the agency suspended her. Although the suspension was lifted a short time later, the investigation continues.

Most recently, Bennett worked for Western International Securities in Washington, DC from October 2009 to December 2015. Prior to that Bennett has worked for a number of firms, including Royal Alliance Associates in Washington, DC, Legg Mason Wood Walker in Baltimore, and Citigroup Global Markets in New York City.

Michael Siegel Suspended and then Permanently Barred by FINRA

December 29, 2016 | Silver Law Group

Michael Siegel Suspended and then Permanently Barred by FINRA on silverlaw.com

The New Jersey broker faces an assortment of serious allegations

Michael Siegel is no longer allowed to have anything to do with any member firms of the Financial Industry Regulatory Authority (FINRA). First suspended in July of 2016, Siegel was later permanently barred by FINRA for failing to respond to the agency’s request for information.

Beginning with Broadway Financial Investment Securities Corp. in 1989, over the next three decades, Siegel was registered with firms in St. Louis, San Diego, and New York City. Primarily, though, he conducted business out of New Jersey, last working for National Securities Corporation in Edison in May of 2016.

Former Raymond James Broker Subject to $4.8 Million Customer Complaint Following Termination

December 29, 2016 | Silver Law Group

Silver Law Group is investigating former Raymond James & Associates, Inc. (CRD# 705) broker John Nelson Crook (CRD# 2715424) after a customer filed a FINRA arbitration alleging $4.8 million in damages.

According to Crook’s FINRA BrokerCheck report, Crook’s customer filed a FINRA arbitration against Crook alleging churning/excessive trading and commissions; unauthorized trading; unsuitability; breach of fiduciary duty; fraud/intentional misrepresentation and omission; negligence/gross negligence; breach of contract; and violations of Georgia Blue Sky Law. The FINRA arbitration alleges damages in the amount of $4.8 million.

Prior to the filing of the FINRA arbitration, Crook was discharged by Raymond James due to “loss of confidence” in Crook. According to Crook’s BrokerCheck report, Crook was terminated because he did not respond candidly to a supervisory review of Crook’s trading activity in a customer’s account and did not provide plausible explanations for said trading activity.

Former Florida-based Center Street Securities Broker Satya Shaw Under Investigation After Florida Opens an Investigation

December 29, 2016 | Silver Law Group

Silver Law Group is investigating Wesley Chapel, Florida-based Center Street Securities, Inc. (CRD# 26898) broker Satya Brata Shaw (CRD# 1229175) after the Florida Office of Financial Regulation opened an investigation into the broker. Our firm is interested in speaking with you if you have worked with Shaw.

In November 2016, the Florida Office of Financial Regulation initiated an investigation into Shaw for violations of state, federal and industry rules and regulations, according to Shaw’s FINRA BrokerCheck report.

The investigation follows a string of settlements between other state regulatory bodies between 2009 and 2016. In total, Shaw has been fined or sanctioned by six different states in a total of seven regulatory actions, according to his BrokerCheck report.

Boston Broker Noel Fleming is Permanently Barred by FINRA

December 28, 2016 | Silver Law Group

Boston Broker Noel Fleming is Permanently Barred by FINRA on silverlaw.com

The Revere Securities LLC broker’s 26-year securities career is over

After 26 years in the securities industry, Noel Fleming has been permanently barred by the Financial Industry Regulatory Authority (FINRA) from acting as a broker or otherwise associating with firms that sell securities to the public.

In December 2015, a customer dispute was recorded on Fleming’s FINRA BrokerCheck report that included allegations of unsuitable investments, violation of Michigan Securities Act, violation of FINRA conduct rules, breach of fiduciary duty/constructive fraud, negligence, negligent supervision and churning, which is excessive trading for the purpose of generating commissions.

Did You Lose Money by Investing with Financial Advisor Rushton Leigh Ardrey?

December 28, 2016 | Silver Law Group

Did You Lose Money by Investing with Financial Advisor Rushton Leigh Ardrey? on silverlaw.com

The Boston-based broker has been permanently barred by FINRA

According to the Financial Industry Regulatory Authority (FINRA), Boston-based broker Rushton Leigh Ardrey failed to respond to the agency’s request for information and has been permanently barred from acting as a broker or otherwise associating with firms that sell securities to the public.

Since 1995, there have been customer disputes arising from Ardrey’s actions as a broker. A FINRA Disciplinary Action signed off by Ardrey in 2015 indicates that in 1995, he settled with the National Association of Securities Dealers to accept censure, a $20,000 fine, and a 60-day suspension from acting in all capacities, for effecting a series of end-of-day transactions in an attempt to impact the closing prices of securities. He was also placed under Heightened Supervision imposed by the Massachusetts Securities Division due to this matter.

FINRA Bars Registered Individuals in December 2016 for Violations of FINRA Rules

December 28, 2016 | Silver Law Group

According to FINRA Disciplinary actions for December 2016, 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
Maricela Alvarez	JP Morgan Securities LLC
Rushton Leigh Ardrey III	Newport Coast Securities, Inc.
Rushton Leigh Ardrey III	White, Weld & Co. Securities, LLC
Terry Stephen Carraher	Allstate Financial Services, LLC
Scott Thomas Cross	MML Investors Services, LLC
Scott Thomas Cross	Raymond James & Associates, Inc.
Christopher Jeffrey Daniel	Merrill Lynch, Pierce, Fenner & Smith Inc.
Christopher Jeffrey Daniel	Charles Schwab & Co., Inc.
Nancy Elaine De Leeuw
Paul Edward Dorion	LPL Financial LLC
Paul Edward Dorion	Nathan & Lewis Securities, Inc.
John Ezmat	AXA Advisors, LLC
Noel Fleming	Revere Securities LLC
Noel Fleming	Jesup & Lamont Securities Corp
Salvatore Gioe	Chelsea Financial Services
Salvatore Gioe	Avenir Financial Group
Stephen Duncan Grant	Security Research Associates, Inc.
Stephen Duncan Grant	Legend Merchant Group , Inc.
James Walter Ignatowich	Newbridge Securities Corporation
James Walter Ignatowich	Investors Capital Corp
EvaJean Marie Jackson	Equinox Securities, Inc.
Dana Liesl McMillin	Jackson National Life Distributors LLC
Myrna Margarita Perez	Morgan Stanley
Robin Thomas Pledger	State Farm VP Management Corp
Robinson Rodriguez	J.P. Morgan Securities LLC
Michael Alan Siegel	National Securities Corporation
Michael Alan Siegel	Concorde Investment Services, LLC
Stewart Field Smith	Center Street Securities, Inc.
Stewart Field Smith	Questar Capital Corporation
Donald Shelby Toomer	Wells Fargo Advisors Financial Network, LLC
Donald Shelby Toomer	RBC Dain Rauscher Inc.
Frank Rowlin Underhill Jr.	Underhill Securities Corp.
Frank Rowlin Underhill Jr.	DRF Business and Financial Services, LLC
Travis Michael Vandermale	Farmers Financial Solutions, LLC
Cheryl Lynn Wallace	Ameriprise Financial Services, Inc.
Cheryl Lynn Wallace	Edward Jones
Cinday Ah Ran Yi
Julie Marie Ziolkowski	Fidelity Brokerage Services LLC

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 Suspended by FINRA in December 2016 for Failing to Comply with FINRA Rules

December 28, 2016 | Silver Law Group

According to FINRA Disciplinary actions for December 2016, 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
Keeland Douglas Howe	Wells Fargo Advisors, LLC
Keeland Douglas Howe	UBS Financial Services Inc.
Christopher Lawrence Love	LPL Financial LLC
Christopher Lawrence Love	Wells Fargo Advisors, LLC
James Michael Roberts	Cullum & Burks Securities, Inc.
James Michael Roberts	WFP Securities
Cary Rosenfeld	Chase Investment Services Corp.
Cary Rosenfeld	Wells Fargo Investments, LLC

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 December 2016 for Violations of FINRA Rules

December 28, 2016 | Silver Law Group

According to FINRA Disciplinary actions for December 2016, 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
Troy Christopher Baldridge	Capitol Securities Management, Inc.
Troy Christopher Baldridge	Anderson & Strudwick, Inc.
Michael Banjany	National Securities Corporation
Michael Banjany	J.P. Morgan Securities LLC
William Joseph Broccio	Meyers Associates, L.P.
William Joseph Broccio	Blackbook Capital, LLC
Michael James Coolican IV	LPL Financial LLC
Michael James Coolican IV	Edward Jones
Brian Michael Gamard	Spartan Capital Securities, LLC
Brian Michael Gamard	John Thomas financial
Brian Marc Kennison	U.S. Bancorp Investments, Inc.
Brian Marc Kennison	Financial West Group
Laurence H. King	Legend Securities, Inc.
Laurence H. King	Domestic Securities, Inc.
Jonathan H. Lowell
Farid Morim	J.P. Morgan Securities LLC
Farid Morim	Chase Investment Services Corp.
Neil David Pecker	Coastal Equities, Inc.
Neil David Pecker	Westpark Capital, Inc.
Jean Paul Pierre
Michael Quiles III	LPL Financial LLC
Michael Quiles III	MetLife Securities Inc.
Peter Michael Riley	Morgan Stanley
Peter Michael Riley	UBS Financial Services Inc.
Robert Shaffer	Fordham Financial Management, Inc.
Robert Shaffer	PHX Financial, Inc.
Patrick Justin White Sr.	Laidlaw & Company (UK) Ltd.
Patrick Justin White Sr.	BlackBook Capital LLC

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.

Emotions Increase Elder Fraud Vulnerability, According to Stanford Research

December 22, 2016 | Silver Law Group

A study funded by FINRA and AARP found that anger and excitement have an impact on decision-making

A new Stanford University study funded by the Financial Industry Regulatory Authority’s (FINRA) Investor Education Foundation and AARP’s Fraud Watch Network states that financial fraudsters who evoke strong emotions in their victims can more easily convince older adults to purchase their investments. The study has implications for individuals who want to protect themselves or their loved ones from financial fraud, as well as for those who have been defrauded.

Anger and excitement: Do they increase fraud susceptibility?