Securities Arbitration Lawyers Blog

Failure to Comply with FINRA Request Terminates Broker Lance Shaw’s Securities Industry Career

November 21, 2016 | Silver Law Group

Failure to Comply with FINRA Request Terminates Broker Lance Shaw’s Securities Industry Career on silverlaw.com

Allegations against the former Orlando broker include unauthorized trading and misrepresentation, among others.

Lance Shaw performed as a broker in the securities industry over the span of 15 years, however, in May 2016, the Financial Industry Regulatory Authority (FINRA) permanently barred him from acting as a broker or otherwise associating with firms that sell securities to the public.

Over the course of a FINRA investigation into Shaw’s performance in the financial industry, the broker – most recently employed by International Assets Advisory LLC in Orlando, FL – failed to respond to the agency’s request for information. In eight customer disputes, allegations against Shaw included unauthorized trading, improper and excessive trading (otherwise known as churning, an activity that inflates broker commissions), mismanagement, unsuitability, and misrepresentation. Damages requested in these disputes exceed over $600,000.

Are (or Were) Unsuitable Non-Traded REITs in Your Portfolio?

November 7, 2016 | Silver Law Group

Are (or Were) Unsuitable Non-Traded REITs in Your Portfolio? on silverlaw.com

Learn the details about this vehicle, and why it may be an unsuitable investment

REITs, or real estate investment trusts, are companies that own real estate-related assets. These may include office parks, hotels, homes, or even related debt like mortgages. REITs are an attractive investment because they can often provide a steady stream of income to investors, as the IRS mandates that they distribute at least 90% of their taxable income to shareholders.

Most REITs are publicly registered and publicly traded on major stock exchanges – however, some are not publically traded. These non-exchange traded REITs are usually managed by a private investment manager, and they can be much riskier than their tradable cousins.

FINRA Permanently Bars Gary Eugene Donovan for Stock Manipulation

November 7, 2016 | Silver Law Group

FINRA Permanently Bars Gary Eugene Donovan for Stock Manipulation on silverlaw.com

Donovan was also discharged from SagePoint Financial in Newark, OH

The Financial Industry Regulatory Authority (FINRA) has permanently barred broker Gary Eugene Donovan from acting as a broker or otherwise associating with firms that sell securities to the public. Up until early 2016, Donovan worked as a broker for a number of brokerage firms around the U.S., most recently SagePoint Financial, Inc. in Newark, OH from October 2005 to January 2016.

Donovan was discharged from SagePoint when it was determined by the firm that he had failed to follow their policies covering the interaction of brokers and stock promoters, as well as the sale of unlisted securities relating to Mix 1 Life, Inc. (OTC: MIXX).

FINRA Suspended Broker Edward R. Segur

November 7, 2016 | Silver Law Group

FINRA Suspended Broker Edward R. Segur on silverlaw.com

Allegations against the New York broker include placing orders without a customer’s consent

According to the Financial Industry Regulatory Authority (FINRA), New York broker Edward R. Segur III is alleged to have opened and traded funds in an outside account opened in his wife’s name, in violation of his firm’s written supervisory procedures (WSPs), and to have accepted orders from a customer’s husband without the customer’s consent. Segur was suspended for 30 days, which ended on July 19th, 2016.

Segur currently works at Fordham Financial Management, Inc., where he has been registered since April 2015. Previously, he was employed at Four Points Capital Partners (Nov. to May 2015), Blackwell Capital Markets, Inc. (Oct. 2012 to Nov. 2013), and Rockwell Global Capital, LLC (Apr. 2012 to Oct. 2012), all in New York, among many other prior firms.

Wells Fargo Broker Wonnie Lynn Short Permanently Barred by FINRA

November 7, 2016 | Silver Law Group

Wells Fargo Broker Wonnie Lynn Short Permanently Barred by FINRA on silverlaw.com

Allegations against the Nashville broker include failure, as executor of client’s estate, to provide a charitable foundation with its due proceeds

The Financial Industry Regulatory Authority (FINRA) has barred Wonnie Short permanently from acting as a broker or otherwise associating with firms that sell securities to the public. While registered with Wells Fargo in Nashville, TN, Short is reported to have been named executor of a client’s estate. In fact, according to FINRA, Short was to receive two-fifths of the client’s residuary estate.

However, according the same FINRA report, Short’s client designated that 90% of her annuity – valued at the time of her death at $102,000 – would go to a local charitable foundation, and the remaining 10% would go to her estate. As the executor of the estate, Short allegedly received full payment from the annuity, yet did not ensure that the charitable foundation received its portion, valued at approximately $92,000.

FINRA Suspends Registered Individuals in October 2016 for Failing to Comply with FINRA Rules

November 4, 2016 | Silver Law Group

According to FINRA Disciplinary actions for October 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
George William Carris	John Carris Investments LLC
George William Carris	Brockington Securities, Inc.
Michael Kevin Clark
Jason Robert Diaz	Joseph Stone Capital LLC
Jason Robert Diaz	Garden State Securities, Inc.
Gregory Flemming Jr.	Salomon Whitney Financial
Gregory Flemming Jr.	Rockwell Global Capital LLC
Christopher John Gimblet	SWBC Investment Services, LLC
Christopher John Gimblet	Halen Capital
David Alan Lavine	UBS Financial Services Inc.
David Alan Lavine	Morgan Stanley Smith Barney
Derek Lee Miller	Securities America, Inc.
Derek Lee Miller	Cambridge Investment Research, Inc.
Steven Nelson
Hector Perez	Rockwell Global Capital LLC
Hector Perez	Global Arena Capital Corp
Naseem Mohammed Salamah	Ninepoint Advisors
Naseem Mohammed Salamah	Morgan Stanley Smith Barney
Wesley Wayne Shaw	Wells Fargo Advisors, LLC
Wesley Wayne Shaw	Edward Jones
Lance E. Slater	Morgan Stanley Smith Barney
Lance E. Slater	UBS Financial Services Inc.
Scott Paul Strochak	Morgan Stanley Smith Barney
Scott Paul Strochak	Merrill Lynch, Pierce, Fenner & Smith, 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.

FINRA Suspends Registered Individuals in October 2016 for Violations of FINRA Rules

November 4, 2016 | Silver Law Group

According to FINRA Disciplinary actions for October 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
Maricela Alvarez	JP Morgan Securities LLC
Rushton Leigh Ardrey III	Newport Coast Securities, Inc.
Rushton Leigh Ardrey III	White, Weld & Co. Securities, LLC
Michael Benjany	National Securities Corporation
Michael Benjany	JP Morgan Securities LLC
Kristen Denys Bartley	Morgan Stanley
Kristen Denys Bartley	Touchstone Securities, Inc.
Dawn Bennett	Western International Securities, Inc.
Dawn Bennett	Royal Alliance Associates, Inc.
Terry Stephen Carraher	LSA Securities, Inc.
Terry Stephen Carraher	Allstate Financial Services, LLC
Christopher Jeffrey Daniel	Merrill Lynch, Pierce, Fenner & Smith Inc.
Christopher Jeffrey Daniel	Charles Schwab & Co., Inc.
Paul Edward Dorion	LPL Financial LLC
Paul Edward Dorion	Nathan & Lewis Securities, Inc.
John Ezmat	AXA Advisors, LLC
Noel Flemming	Revere Securities LLC
Noel Flemming	Jesup & Lamont Securities Corp
Yohandy Gonzalez	JP Morgan Securities LLC
Yohandy Gonzalez	AXA Advisors, LLC
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.
Oded Joseph Jacobwitz	Securities America, Inc.
Oded Joseph Jacobwitz	JP Morgan Securities LLC
Russell A. Kellock	Charles Schwab & Co., Inc.
Dana Liesl McMillin	Jackson National Life Distributors LLC
Christopher A. Parris	The Lucian Group
Christopher A. Parris	Nationwide Securities, Inc.
Myrna Margarita Perez	Morgan Stanley
Myrna Margarita Perez	Lehman Brothers Inc.
Raymond John Pirrello Jr.	Garden State Securities, Inc.
Raymond John Pirrello Jr.	The Concord Equity Group, LLC
Robinson Rodriguez	JP Morgan Securities LLC
David Aaron Seigerman	Janney Montgomery Scott LLC
David Aaron Seigerman	Morgan Stanley
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
Frank Rowlin Underhill Jr.	Underhill Securities Corp.
Frank Rowlin Underhill Jr.	DRF Business and Financial Services, LLC
William Upchurch Jr.	PFS Investments Inc.
William Upchurch Jr.	Primerica Financial Services
Travis Michael Vandermale	Farmers Financial Solutions, LLC
William Christopher Wade	Prudential Investment Management Services LLC
William Christopher Wade	USAA Financial Advisors, Inc.
Cindy 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.

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

November 4, 2016 | Silver Law Group

According to FINRA Disciplinary actions for Oct 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
Kamran Azim	The Huntington Investment Company
Mohamed Baksh	PFS Investments Inc.
Mohamed Baksh	Primerica Financial Services
David F. Bouchard
Alina Brindusescu	US Bancorp Investments, Inc.
Alina Brindusescu	HSBC Securities (USA) Inc.
James Lee Carpenter	Sagepoint Financial, Inc.
James Lee Carpenter	Next Financial Group, Inc.
Donna Chen	Sunbelt Securities, Inc.
Donna Chen	Ameriprise Financial Services, Inc.
Marcus Joseph Debaise	Wells Fargo Advisors, LLC
Marcus Joseph Debaise	Prudential Securities Inc
Robert Philip DePalo	McBarron Capital LLC
Robert Philip DePalo	Arjent Ltd.
Phillip David Donnan	AXA Advisors, LLC
Kristen Mae Fitzhugh	PNC Investments
Kristen Mae Fitzhugh	AXA Advisors, LLC
Yitzhok Alexander Fox	Ditto Trade, Inc.
Yitzhok Alexander Fox	A.B Watley Direct, Inc.
Yosef Yehuda Fox	Ditto Trade, Inc.
Yosef Yehuda Fox	Web Street Securities, Inc.
Russell Lee Goldstein	Morgan Stanley
Russell Lee Goldstein	Wells Fargo Advisors, LLC
Israel Guzman	Unionbanc Investments Services, LLC
Israel Guzman	JP Morgan Securities LLC
Bingyi Hu	National Securities Corporation
Bingyi Hu	VFinance Investments, Inc.
Philip Joseph Johnson	Wells Fargo Advisors, LLC
David Richard Kerr III	A&F Financial Securities, Inc.
Kenneth Joseph Kolquist	Cetera Advisor Networks LLC
Kenneth Joseph Kolquist	Securities America, Inc.
Kestina Mantar	Goldman Sachs & Co.
Pedro Juan Marrero Astacio IV	Wells Fargo Advisors, LLC
Pedro Juan Marrero Astacio IV	JP Morgan Securities LLC
Valon Mehmeti	JP Morgan Securities LLC
Mercedes Molina
Robert Isaac Newell	Merrill Lynch, Pierce, Fenner & Smith Inc.
Robert Isaac Newell	Edward Jones
Christopher A. Parris	The Lucian Group
Christopher A. Parris	Nationwide Securities Inc.
Barbara Joann Peters	JP Morgan Securities LLC
Mikhail M. Rasner	Northwestern Mutual Investment Services, LLC
Rennie M. Roach	PFS Investments Inc.
Rennie M. Roach	Primerica Financial Services
Warren Marc Rockmacher	Investacorp, Inc.
Warren Marc Rockmacher	Chase Investment Services Corp.
Lance R. Shaw	International Assets Advisory, LLC
Lance R. Shaw	LPL Financial LLC
Michael Ronald Smith	UBS Financial Services Inc.
Michael Ronald Smith	Morgan Stanley Smith Barney
James Tao	Sunbelt Securities, Inc.
James Tao	Merrill Lynch, Pierce, Fenner & Smith Inc.
Larry Steven Werbel	Concorde Investment Services, LLC
Larry Steven Werbel	Summit Brokerage 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.

Former Clearwater, Florida Broker Under Investigation after FINRA Suspension for Unsuitable Recommendations

November 3, 2016 | Silver Law Group

Silver Law Group is investigating former Clearwater, Florida broker Dennis M. Merritt (CRD# 1748115) after FINRA suspended him for four months and his employing firm terminated him for alleged unsuitable recommendations among other things.

In March 2016, FINRA and Merritt entered into an order accepting offer of settlement (the “Order”). The Order accepted the punishment without admitting or denying the allegations in the Complaint.

The Complaint alleged that Merritt invested a total of $115,000 in a speculative investment without providing written notice to his member firm prior to participating in the private securities transactions.

Former Boca Raton, Florida-based Raymond James Broker Under Investigation for Discretionary Trading in Non-Discretionary Account

November 3, 2016 | Silver Law Group

Silver Law Group is investigating former Boca Raton, Florida-based Raymond James broker Gregory E. Barr (CRD# 1312703) after being discharged by two different firms in less than three years.

Barr was most recently employed by Raymond James & Associates (CRD# 705), but most of his trouble involves his prior firm, Deutsche Bank Securities Inc. (CRD# 2525).

In May 2014, Deutsche Bank discharged Barr after the he allegedly admitted exercising discretion in non-discretionary accounts.