The State of New Jersey Bureau of Securities has suspended the registration of stockbroker Roy Joseph Failla for 45-days and fined him $15,000. The New Jersey regulator alleged that between October 27, 2014, through September 25, 2019, while employed by First Standard Financial Company in New York, NY, Roy Failla…
FINRA has suspended former stockbroker Michael August Pellegrino from the securities industry for two months. On January 26, 2021, Mr. Pellegrino and FINRA entered into a Letter of Acceptance, Waiver, and Consent (“AWC”) over allegations that Mr. Pellegrino distributed a retail communication to approximately 80 retail investors, promoting an investment…
The Financial Industry Regulatory Authority (“FINRA”) has barred financial advisor Tyler Dean Delahunt from the securities industry. Tyler Delahunt was registered with Merrill Lynch, Pierce, Fenner & Smith Incorporated (“Merrill Lynch”) in Atlanta, Georgia, from October 2016 until August 2020. Merrill Lynch terminated Mr. Delahunt’s employment on August 3, 2020,…
FINRA has barred stockbroker David A. Jenson from the securities industry. FINRA has barred Mr. Jenson from associating with any FINRA member firm in any capacity because Mr. Jenson refused to provide information and documents connected with FINRA’s investigation into whether Mr. Jenson recommended customers invest in an unsuitable concentration…
**Update: November 11, 2021** On November 8, 2021, Aegis Capital Corp agreed to pay nearly $2.7 million in sanctions for supervisory failures related to excessive and unsuitable trading by its brokers from July 2014 through December 2018. Click on the following link to read more: Aegis Capital Corp. Ordered to…
Summary: FINRA has barred financial advisor Charles Kenahan from the securities industry after he refused to cooperate with FINRA’s investigation. In 2019, Bank of America Merrill Lynch agreed to pay $40 million to settle with Robert Levine, co-founder of Cabletron Systems, over churning allegations. In December 2020, the State of…
On January 20, 2021, a Financial Industry Regulatory Authority Hearing Officer barred Bryan G. Mazliach from the securities industry for: Recommending and effecting an unsuitable investment strategy to five customers involving in-and-out, short-term, and excessive trading. Executing unauthorized trades in the accounts of eight customers. Failing to provide documents and…
FINRA has barred stockbroker Gary Wayne Hammond from the securities industry. On January 19, 2021, Mr. Hammond and FINRA entered into a Letter of Acceptance, Waiver, and Consent (“AWC”) over allegations that between February 2016 and October 2016, Mr. Hammond participated in at least 14 private securities transactions totaling $1.6…
FINRA has suspended financial advisor Christian Frank Lucchetto (CRD No. 4648994) from the securities industry for three months and fined him $5,000. FINRA alleged that between January 2018 through May 2019, while employed by First Standard Financial Company in Red Bank, NJ, Frank Lucchetto excessively and unsuitably traded a customer’s…
FINRA has barred stockbroker Javelin Mikol San Nicolas from the securities industry. FINRA expelled Mr. San Nicolas from the brokerage industry because he refused to provide information and documents connected with FINRA’s investigation into the circumstances given rise to his termination from Edward Jones in August 2020. Mr. San Nicolas…