The Financial Industry Regulatory Authority (“FINRA”) has barred financial advisor Tyler Rigsbee from the securities industry for refusing to cooperate with a FINRA investigation. FINRA launched the investigation after Wells Fargo terminated Mr. Rigsbee in April 2021 and alleged that he “was terminated during the course of an internal review…
Articles Posted in Firm Investigations
Crown Capital Securities, L.P. Ordered to Pay $1.6 million to Settle SEC Case
Crown Capital Securities, L.P. (“Crown Capital”), a dually-registered investment adviser and broker-dealer based in California, agreed to pay $1.6 million to settle charges brought by the Securities and Exchange Commission (“SEC”) over the firm’s disclosure failures regarding investment advice it gave about mutual funds and cash sweep money market funds.…
FINRA Arbitration Award: SunTrust Investment Services, Inc. and SunTrust Advisory Services, Inc. Ordered to Pay $200,000
A FINRA Dispute Resolution Services arbitration panel in Boca Raton, Florida, ordered SunTrust Investment Services, Inc. and SunTrust Advisory Services, Inc. (collectively “SunTrust”) to pay a customer $200,000 over losses in the customer’s discretionary account with the firms. Additionally, the arbitration panel denied SunTrust’s request for expungement on behalf of…
Bloomington, Minnesota Financial Advisor, John Swon, Formerly of Royal Alliance Associates and Focus Financial, Barred by FINRA
The Financial Industry Regulatory Authority (“FINRA”) has barred financial advisor John Swon from the securities industry. Mr. Swon was expelled from the brokerage industry for refusing to cooperate with a FINRA investigation. FINRA launched the investigation after a customer complained that Mr. Swon misappropriated or mismanaged funds entrusted to him…
Medford, Oregon Financial Advisor, Juan Ceja, Formerly of PFS Investments Inc, Barred by FINRA
The Financial Industry Regulatory Authority (“FINRA”) has barred stockbroker Juan Ceja from the securities industry. Mr. Ceja was expelled from the brokerage industry for refusing to cooperate with a FINRA investigation. FINRA launched the investigation after PFS Investments, Inc. discharged Mr. Ceja in February 2021 and alleged that he “submitted…
Stu Pearl, Former David A. Noyes & Company Broker, Suspended for Making Unsuitable Non-Traditional ETF Investment Recommendations – Indianapolis, IN
The Financial Industry Regulatory Authority (“FINRA”) has suspended financial advisor Stuart Pearl from the securities industry for three months. Mr. Pearl consented to the suspension after FINRA alleged that from March 2017 and August 2018, while associated with David A. Noyes & Company (now Sanctuary Securities, Inc.) in Indianapolis, Indiana,…
Broker Daniel Jossen, Formerly with NYLIFE Securities LLC, BARRED by FINRA – Bethesda, MD
FINRA has barred former NYLIFE Securities LLC broker Daniel Jossen from the securities industry. Mr. Jossen was expelled from the brokerage industry for failing to the provide information requested by FINRA pursuant to Rule 8210, in violation of Rules 8210 and 2010. If you have lost money with Daniel Jossen,…
Broker George Louis McCaffrey III, Formerly with NTB Financial Corporation, BARRED by FINRA – Englewood, CO
FINRA has barred former NTB Financial Corporation (“NTB”) broker George Louis McCaffrey III from the securities industry. Mr. McCaffrey was expelled from the brokerage industry for providing false information to FINRA during a prior investigation and for participating in $270,000 of private securities transactions without prior written disclosure to and…
Former Worden Capital Management LLC Broker, Christopher Orlando, BARRED by FINRA for Excessively Trading 13 Accounts
On July 1, 2021, the Financial Industry Regulatory Authority (“FINRA”) and broker Christopher Orlando entered into a Letter of Acceptance, Waiver, and Consent No. 2017056432603 after FINRA alleged that from October 2015 through December 2018, Mr. Orlando excessively traded 13 accounts of 12 customers in violation of Rules 2111 and…
Breaking News: Robinhood Ordered to Pay $70 Million, the Largest Financial Penalty Ever Ordered by FINRA
On June 30, 2021, the Financial Industry Regulatory Authority (“FINRA”) announced that it ordered Robinhood Financial LLC to pay approximately $70 million for systemic supervisory failures and significant harm suffered by millions of customers. The sanctions included an order to pay a $57 million fine and $12.6 million in restitution,…