Unauthorized Trading

Larry C. Wolfe, formerly of Boca Raton, Florida HJ Sims, Under Investigation Over Unauthorized Trading

April 5, 2017 | Silver Law Group

Silver Law Group is investigating former Boca Raton, Florida-based Herbert J. Sims & Co. Inc. (CRD# 3420) (“HJ Sims”) broker Larry Charles Wolfe (CRD# 502361) after five (5) customers filed complaints alleging unauthorized trading.

According to Wolfe’s FINRA BrokerCheck report, Wolfe has thirteen (13) disclosures.

Allegations of churning, unsuitability and unauthorized trading against Wolfe date back to a 1991 FINRA arbitration award and a 2001 settlement. The allegations then ramped up starting in 2010.

Former Las Vegas Ameriprise Broker Cheryl L. Wallace Discharged for Alleged Unauthorized Trading

January 25, 2017 | Silver Law Group

Silver Law Group is investigating former Las Vegas, Nevada-based Ameriprise Financial Services, Inc. (CRD# 6363) broker Cheryl L. Wallace (CRD# 4839255) after she was discharged by Ameriprise for unauthorized trading among other allegations.

According to Wallace’s FINRA BrokerCheck report, Wallace was discharged from Ameriprise in February 2016 after she allegedly failed to follow clients’ instructions, communicated incorrect information to the client and used discretion on trades in the accounts.

Four months later, in June 2016, FINRA permanently barred Wallace from acting as a broker or otherwise associating with firms that sells securities to the public after she failed to respond to a FINRA request for information.

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.

FINRA Permanently Bars Honetta C. Kao After Allegations of Unauthorized Trading and Mishandled Accounts

January 10, 2016 | Silver Law Group

FINRA Permanently Bars Honetta C. Kao After Allegations of Unauthorized Trading and Mishandled Accounts on silverlaw.com

Numerous customer complaints surface over the course of his work history with various firms

On August 4, 2015, Honetta C. Kao was suspended by the FINRA for failure to respond to their request for information. And in November, he was permanently barred from acting as a broker or otherwise associating with firms that sell securities to the public.

Kao’s industry experience incudes ten different firms and on record, dates back to 2005 when he worked for Custom Capital Corporation in Brooklyn, New York. Accused of mishandling accounts, giving bad investment advice, making unsuitable recommendations and unauthorized trades, Kao racked up numerous customer complaints and damages while working at Meyers Associates, L.P. and Caldwell International Securities, both in New York.