A National Securities Arbitration & Investment Fraud Law Firm
One of the most common claims from unhappy investors is against stockbrokers who churn or excessively trade their account to generate commissions for themselves.
Every dollar spent on fees, costs, or commissions is money that needs to be recovered through profit just for the investor to break even. The higher the commissions an investor pays, the less likely they are to make a profit. Continue reading ›
Silver Law Group has been named a “Top Law Firm” in the 2020 edition the South Florida Legal Guide (SFLG), a leading guide to the best attorneys and law firms in the region.
Scott Silver, Silver Law Group’s managing partner, was also individually named as a “Top Lawyer”.
The lawyers and law firms included in the 2020 South Florida Legal Guide, the 20th anniversary edition, are peer-nominated based on their experience and record of achievement.
The publisher of the SFLG, Gary Press, says “The lawyers honored in this issue are the best of the best in South Florida. It’s not a pay-to-play list. Nominations are vetted by the SFLG editorial team…We look for experienced lawyers and weigh factors such as board certifications, Martindale-Hubbell rankings, other accolades and career achievements.” Continue reading ›
DID YOUR SAGEPOINT ADVISOR SELL YOU UITs?
SagePoint Financial has been ordered by the Financial Industry Regulatory Authority (FINRA) to pay $1.3 million in restitution to customers for alleged failings related to unit investment trusts (UITs). SagePoint was also ordered by FINRA to pay $300,000 for supervisory violations related to UITs. Continue reading ›
According to FINRA Disciplinary actions for May 2020, 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 |
| Thomas Bock | Mutual Securities, Inc. |
| Securities America, Inc. | |
| Richard Brown | Arive Capital Markets |
| Chelsea Financial Services | |
| Mary Evans | Mutual Securities, Inc. |
| Securities America, Inc. | |
| Matthew Francis | Morgan Stanley Smith Barney |
| Morgan Stanley & Co Incorporated | |
| James Heafner | Retirement Wealth Advisors, Inc. |
| Taylor Capital Management Inc. | |
| Christopher Kennedy | Oppenheimer & Co, Inc. |
| Liberty Tree Advisors, LLC | |
| Rachael Konz | Merrill Lynch, Pierce, Fenner & Smith Incorporated |
| Morgan Stanley | |
| Jonathan Lake | Wells Fargo Clearing Services, LLC |
| Morgan Stanley | |
| Douglas Leone | Salomon Whitney Financial |
| Newport Coast Securities, Inc. | |
| Yousuf Saljooki | Worden Capital Management LLC |
| Salomon Whitney Financial | |
| Ricardo Urrutia | Mutual of Omaha Investor Services, Inc. |
| AXA Advisors, LLC | |
| Frank Wroblewski | National Securities Corporation |
| Wells Fargo Clearing Services, LLC |
According to FINRA Disciplinary actions for May 2020, 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 |
| George Belesis | Portfolio Advisors Alliance, LLC |
| John Thomas Financial | |
| Dustin Blount | MML Investors Services, LLC |
| Northwestern Mutual Investment Services, LLC | |
| Barry Carson | Farmers Financial Solutions, LLC |
| Felix Chu | NYLife Securities LLC |
| Brian Colburn | Maxim Group LLC |
| The Buckingham Research Group Incorporated | |
| Prithviraj Dhandapani | LPL Financial LLC |
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | |
| Michael Drury | Stillpoint Capital LLC |
| Davrion Hemphill | |
| Robert Lee | |
| Eric Zakarin | Lombard Securities Incorporated |
| Independent Financial Group, LLC |
According to FINRA Disciplinary actions for May 2020, 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 |
| Robert Cacioppo | MML Investors Services, LLC |
| NYLife Securities LLC | |
| Paula Collins | TIAA-CREF Individual & Institutional Services, LLC |
| OppenheimerFunds Distributor, Inc. | |
| Michael Davis | Allied Millennial Partners, LLC |
| Syren Capital Advisors | |
| Megan Hoffman | J.P. Morgan Securities LLC |
| Chase Investment Services Corp | |
| Jody Pullium | Allstate Financial Services, LLC |
| PNC Investments | |
| Ana Rivera | Wells Fargo Clearing Services, LLC |
| Wells Fargo Advisors, LLC | |
| John Santariello | Arive Capital Markets |
| Cape Securities Inc. | |
| George Schmidt, Jr. | Lincoln Financial Advisors Corporation |
| Horner, Townsend & Kent, Inc. | |
| Ricardo Turlan | UBS Financial Services Inc. |
| BBVA Securities Inc. | |
| Kevin Williams | Lucia Securities, LLC |
| Wells Fargo Clearing Services, LLC |
Hebron Technology Co. (HEBT) is the subject of a securities fraud class action lawsuit filed in U.S. District Court for the Southern District of New York.
Silver Law Group is a nationally-recognized class action law firm representing investors. If you have losses from Hebron Technology Co. (HEBT) stock, contact Silver Law Group for a no-cost consultation at (800) 975-4345 or ssilver@silverlaw.com.
Hebron Technology Co. (HEBT) is a Chinese company involved in the manufacture and installation of pumps, valves, pipe fittings, and other products for the pharmaceutical, food and beverage, and other industries. Continue reading ›
Investors whose brokers or financial advisors recommended that they invest in Steepener Notes (a/k/a “Steepeners”) may have incurred losses due to the risky and complex nature of these products. Steepeners, which are tied to U.S. treasury interest rates, have left investors stuck in illiquid investments while receiving little to none of the regular income they were promised.
Steepener Notes are non-traditional and long-term investments that pay a quarterly or monthly interest payment that is tied to the yield curve, which measures the interest rates on U.S. Treasury securities. Steepener Notes are a type of “structured product”: for the first year or two, the issuer pays investors an above-average rate of interest (often referred to as “teaser” rate), and then, for the remainder of the note—often 15-30 years—the rate is determined by a complex formula. Continue reading ›
Silver Law Group is currently investigating broker-dealer firms and financial advisors that improperly marketed and sold Steepener Notes, which are non-traditional, long-term, illiquid, and highly complex products that many brokerage firms have been selling to unsuspecting clients over the past decade.
Steepener Notes are structured products that pay a regular interest payment that is tied to the yield curve, which measures interest rates on U.S. Treasury securities. The amount of the payment is calculated based on the difference between long-term and short-term interest rates. Thus, the “steeper” the curve, the better the investment performs. However, it means that Steepener Notes are risky. If the yield curve is flat, as it has been for much of the last decade, the payments to investors are minimal or zero. Similarly, if the yield curve is inverted, as it was in 2018, investors do not receive any interest payments. Continue reading ›
Jose Cornide (CRD#: 2785918), a currently-registered broker with UBS Financial Services (CRD#: 8174) in Coral Gables, Florida, is the subject of 12 disclosures on his publicly-available FINRA BrokerCheck report. All 12 disclosures are customer disputes.
11 of the customer disputes were filed in 2019 and 2020 and seem to involve investment in the UBS Yield Enhancement Strategy (YES), a complex options trading scheme that was marketed as safe, but actually involved significant risk and caused some investors to suffer considerable losses. Continue reading ›
Securities Arbitration Lawyers Blog