FINRA has suspended former Securities America, Inc. (SAI) broker Dale Allen Ramsperger from the securities industry for five months. Mr. Ramsperger consented to the sanction and to the entry of findings that he participated in a private securities transaction without prior written disclosure to his firm. His suspension is scheduled to…
FINRA has suspended Deutsche Bank Securities Inc. broker Garrett Neubart from the securities industry for two months. Mr. Neubart consented to the sanction and to the entry of findings that he engaged in an outside business activity without providing prior written notice to his firm. His suspension is scheduled to…
FINRA has suspended and fined former LPL Financial LLC broker Joffre Salazar from the securities industry for one year. Mr. Salazar consented to the sanctions and to the entry of findings that he forged the signatures and initials of two customers on forms related to their purchases of fixed annuities. His…
FINRA has suspended and fined former Raymond James Financial Services, Inc. broker David Van Geffen from the securities industry for 15 business days. Mr. Van Geffen consented to the sanctions and to the entry of findings that he impersonated a customer on telephone calls to an annuity company. His suspension is…
FINRA has censured and fined Miami-based brokerage Primary Capital, LLC (“Primary”) over supervisory failures and advertising violations related to its EB-5 business. The EB-5 Immigrant Investor Program is overseen by the United States Citizenship and Immigration Services (USCIS) and was created by Congress in 1990 to stimulate the U.S. economy…
The Financial Industry Regulatory Authority (“FINRA”) has suspended stockbroker Joseph Lianzo from the securities industry for eight months. Mr. Lianzo consented to the suspension after FINRA alleged that from March 2016 through November 2019, while associated with Laidlaw & Company (UK) LTD. and SW Financial, Mr. Lianzo excessively traded four…
On September 1, 2021, Robinhood ($Hood) filed its first amendment to its Form S-1 Registration Statement with the U.S. Securities and Exchange Commission (“SEC”). The public filing, which amends the registration statement that Robinhood filed in connection with its July 2021 initial public offering (IPO), discloses that the SEC’s Division…
On September 1, 2021, Robinhood ($Hood) filed Amendment No 1 to its Form S-1 Registration Statement with the U.S. Securities and Exchange Commission (“SEC”). Form S-1 is the registration statement that Robinhood filed in connection with its July 2021 initial public offering (IPO). Robinhood’s latest public filing discloses that Robinhood…
The Financial Industry Regulatory Authority (“FINRA”) has barred stockbroker Donald Fowler from the securities industry. Mr. Fowler consented to the suspension after FINRA alleged that from December 2014 through December 2018, while associated with Worden Capital Management LLC, Mr. Fowler churned and excessively traded four customers’ accounts in violation of…
On August 23, 2021, a FINRA Dispute Resolution Services arbitration panel in Baltimore, Maryland, ordered UBS Financial Services, Inc. (“UBS”) to pay $405,000 to customers who invested in UBS’s Yield Enhancement Strategy (“YES”). The award included $300,000 in compensatory damages, $30,000 in costs, and $75,000 in attorneys’ fees. The customers…