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Articles Tagged with FINRA suspension

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David Krumrey (CRD #4121845) was employed by Oppenheimer & Co, Inc. from March 2009 through September 2017. Previous employment included Stanford Group Company from January to March 2009 and Merrill Lynch, Pierce, Fenner & Smith Inc. from March 2000 to Jan 2009.

Stephen-Grivas-Permanently-Barred-by-FINRA-300x210Krumrey is barred from association with an FINRA member in any capacity.  Respondent failed to request termination of his suspension within three months of the date of the Notice of Suspension; therefore, he is automatically barred from association with any FINRA member in any capacity.

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Vicente Davila (CRD #4419824) was employed by Morgan Stanley from April 2016 through February 2018. Previous employment included Merrill Lynch, Pierce, Fenner & Smith Inc. from November 2009 to May 2016 and Barclays Capital Inc. from April 2002 to September 2002.

Zachary-Bader-Suspended-After-Multiple-Allegations-of-Churning-300x232Davila was suspended on April 27, 2018, from associating with any FINRA member firm in any capacity.  If Davila fails to request termination of the suspension within three months of the date of the Notice of Suspension, he will automatically be barred on July 6, 2018, from association with any FINRA member in any capacity pursuant to FINRA Rule 9552 (h).

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Failure to Adequately Supervise Prompts FINRA Suspension of Roman Luckey on silverlaw.com

Ineffective supervision leads to FINRA suspension of financial services provider

Roman T. Luckey, formerly registered with Newport Coast Securities Inc., was fined $15,000 and also suspended for 14 months by the Financial Industry Regulatory Authority (FINRA) in August 2015 for failure to appropriately supervise his staff, who were taking advantage of clients by excessive trading, churning and making unsuitable financial recommendations.

The FINRA report maintains that Luckey failed to act on numerous obvious red flags concerning five of the financial representatives he supervised that impacted 24 client accounts between 2008 and 2013.

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Broker Sylvester King, Jr. Resigns from Wells Fargo Advisors, LLC Concurrent with FINRA Suspension on silverlaw.com

King allegedly concealed loans from the firm, among other violations

Fort Lauderdale-based broker Sylvester King, Jr. found himself in hot water with FINRA in April 2015, according to the BrokerCheck website. So much so that he resigned from his most recent employer, Wells Fargo Advisors, LLC the same day he filed his Acceptance, Waiver and Consent (AWC) letter with FINRA.

According to the AWC letter, while employed by Morgan Stanley in 2009 and lasting through 2012 when employed by Wells Fargo, King allegedly violated FINRA rules in a number of ways. First, he allegedly helped another broker conceal almost $400,000 in loans to three firm customers, and made a $25,000 loan to a customer without his firm’s permission. He was also allegedly involved in an undisclosed private securities transaction that involved eight firm customers investing more than $3 million. Then, on two separate questionnaires, he allegedly provided false information to Morgan Stanley regarding participating in private securities transactions.

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Currently employed by and registered with Blackbook Capital, LLC

Michael McGregor

Since 1997, Michael Anthony McGregor has been registered with FINRA as a General Securities Representative (GSR). Through the years, McGregor has been subject to judgments and liens that have not been properly reported. By not reporting them, Michael McGregor is in violation of FINRA’s By-Laws and now he’s facing FINRA sanctions.

In March 2015, Michael McGregor was handed a 45-day suspension and fined $5,000 by FINRA for allegedly failing to amend and timely amend his FINRA registration to reflect unsatisfied judgments and liens he received. Without admitting or denying the findings, McGregor consented to the sanctions and to the entry of the findings.

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