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According to FINRA Disciplinary actions for April 2024, 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
Vinessa Christian UBS Financial Services Inc.
RBC Dain Rauscher Inc.
Cody Coffey Allstate Financial Services, LLC
Denzel Coleman J.P. Morgan Securities LLC
Wells Fargo Clearing Services, LLC
John Kersey Northwestern Mutual Investment Services, LLC
Robert W. Baird & Co. Incorporated

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According to FINRA Disciplinary actions for March 2024, 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
Gabriela Alfaro Charles Schwab & Co., Inc.
Michael Capolongo Network 1 Financial Securities Inc.
Worden Capital Management LLC
Stalin Cruz SW Financial
Windsor Street Capital, L.P.
Michael Fasciglione Aegis Capital Corp.
National Securities Corporation
Isaiah Frection NYLife Securities LLC
Richard Goldston Edward Jones
Johnathan Hagood Wells Fargo Clearings Services, LLC
Adriano Schultz J.P. Morgan Securities LLC
Wells Fargo Clearing Services, LLC
Brittny Stagnitto

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According to FINRA Disciplinary actions for March 2024, 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
Kwame Adusei Morgan Stanley
J.P. Morgan Securities LLC
Brittany Anderson
Gianluca De Berardinis Morgan Stanley
Quad Capital, LLC
Brian Hall
Monu Joseph Rosenblatt Securities Inc.
CIBC World Markets Corp.
Sylviah Kemunto
Sebastian Puznowski Equitable Advisors, LLC
AXA Advisors LLC
Carlos Ramirez Citizens Securities, Inc.
Key Investment Services LLC
Shaquane Smith-Thompson J.P. Morgan Securities LLC
Quintosha Thomas

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According to FINRA Disciplinary actions for March 2024, 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
Timothy Breslin B. Riley Wealth Management
Raymond James & Associates, Inc.
Robin Johnson aka Robin Runco CFD Investments, Inc.
J.W. Cole Financial, Inc.
Jason Kurtz U.S. Bancorp Investments, Inc.
Edward Jones
Leslie Markus Jr. Lincoln Investment
Ameriprise Financial Services, Inc.
David Morris Stifel, Nicolaus & Company
UBS Financial Services Inc.
Duncan Sandlin Waddell & Reed
AXA Advisors, LLC

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Minnesota-based broker-dealer Principal Securities has been sued by a local nonprofit over allegations of churning in variable annuities by one of its former registered representatives. The company disclosed this information in its recently filed annual focus report with the SEC. Principal Securities is also the subject of a separate FINRA arbitration claim based on the actions of the same representative. The plaintiff in this case is the Legacy of Angels Foundation, a 501 (c)(3) nonprofit and private family foundation with the mission, “To improve the lives of children by working to promote the expansion of newborn screening, and to further education, awareness, and research for Krabbe disease and Cystic Fibrosis to provide a better treatment and a cure.”  In June 2023, the nonprofit became known as the Rosenau Family Research Foundation.   In the lawsuit, the plaintiff alleges that Principal Securities made unsuitable recommendations, failed to supervise, and forfeiture of fees and commissions collected by the representative. The representative was not named in the report. The company expects losses in this case to be between $3 million and $5 million. The report was filed with the SEC on February 28, 2024.Minnesota-based broker-dealer Principal Securities has been sued by a local nonprofit over allegations of churning in variable annuities by one of its former registered representatives. The company disclosed this information in its recently filed annual focus report with the SEC. Principal Securities is also the subject of a separate FINRA arbitration claim based on the actions of the same representative. Continue reading ›

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Silver Law Group founder Scott Silver has weighed in on the move by many CrowdStreet investors who lost money in a failed Nightingale properties purchase. While he is not involved in the bankruptcy or litigation, Scott has paid close attention to the case. He is also a co-chair of the nonprofit American Association for Justice's Securities and Financial Fraud Litigation Group. Several investors have filed a request for a FINRA arbitration related to a $1.5 million misappropriation of funds that were not put in escrow, but given directly to Nightingale CEO Elie Schwartz. He has made one payment of $3 million, but has $50 million more to repay.Silver Law Group founder Scott Silver has weighed in on the move by many CrowdStreet investors who lost money in a failed Nightingale properties purchase. While he is not involved in the bankruptcy or litigation, Scott has paid close attention to the case. He is also a co-chair of the nonprofit American Association for Justice’s Securities and Financial Fraud Litigation Group. Continue reading ›

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John Kersey (John Jay Kersey CRD# 1480524) is a former broker and investment advisor last employed with Northwestern Mutual Investment Services, LLC (CRD# 2881) of Cincinnati, OH. His previous employers include Northwestern Mutual Investment Services, LLC (CRD# 2881) of Milwaukee, WI, Walnut Street Securities, Inc. (CRD# 15840) of El Segundo, CA, and WMA Securities, Inc. (CRD# 32625) of Duluth, GA.  He has been in the industry since 1986. Northwestern allowed Kersey to resign following allegations that he accepted money from a customer intended for investment. Instead, Kersey deposited the money into a non-firm account, and fabricated account statements that overstated the value of the customer’s account with Northwestern.  He was under an internal review at the time. Of his eight disclosures, five are by Kersey’s Northwestern clients filed after his discharge from the firm.John Kersey (John Jay Kersey CRD# 1480524) is a former broker and investment advisor last employed with Northwestern Mutual Investment Services, LLC (CRD# 2881) of Cincinnati, OH. His previous employers include Northwestern Mutual Investment Services, LLC (CRD# 2881) of Milwaukee, WI, Walnut Street Securities, Inc. (CRD# 15840) of El Segundo, CA, and WMA Securities, Inc. (CRD# 32625) of Duluth, GA.  He has been in the industry since 1986. Continue reading ›

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Garrett Moretz (Garret Wayne Moretz CRD# 4086791) is a broker and investment advisor currently registered with Lifemark Securities Corp. (CRD# 16204) of Mooresville, NC. His previous employers include First Heartland Consultants, Inc. (CRD# 110377) and First Heartland Capital, Inc. (CRD#:32460), also of Mooresville, and Allegiant Asset Management, L.L.C. (CRD# 141047) of Miami, FL. He has been in the industry since 2000. The US Securities & Exchange Commission (SEC) is currently investigating Moretz following allegations of “certain provisions of federal securities laws,” including Section 10(b) of the Exchange Act and Rule 10b-5. This section involves the misleading omissions and misrepresentation during the sale of securities. Garrett Moretz is cooperating with the investigation but denies the allegations of any wrongdoing. The investigation was filed on 5/1/2023 and is ongoing.Garrett Moretz (Garret Wayne Moretz CRD# 4086791) is a broker and investment advisor currently registered with Lifemark Securities Corp. (CRD# 16204) of Mooresville, NC. His previous employers include First Heartland Consultants, Inc. (CRD# 110377) and First Heartland Capital, Inc. (CRD#:32460), also of Mooresville, and Allegiant Asset Management, L.L.C. (CRD# 141047) of Miami, FL. He has been in the industry since 2000. Continue reading ›

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According to FINRA Disciplinary actions for January 2024, 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
  Scott Reed   First Financial Equity Corporation
  Wells Fargo Clearing Services, LLC

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According to FINRA Disciplinary actions for January 2024, 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
  Jack McBride   Newbridge Securities Corporation
  B. Riley Wealth Management
  Richard Webb   Park Avenue Securities LLC
  William Williford   Morgan Stanley

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