On June 29, 2021, the Financial Industry Regulatory Authority (“FINRA”) and a Joseph Stone Capital L.L.C. stockbroker entered into a Letter of Acceptance, Waiver, and Consent No. 2020066888001 whereby the broker consented to a three-month suspension, $5,000 fine, and to pay $7,653.21 in restitution to a customer. The broker consented…
Articles Posted in Firm Investigations
Broker Cesar Gabriel Hernandez, Formerly with Gentem Capital, BARRED by FINRA – Miami, FL
FINRA has barred former Gentem Capital broker Cesar Gabriel Hernandez from the securities industry. Mr. Hernandez was expelled from the brokerage industry for refusing FINRA’s request to appear for on-the-record testimony pursuant to FINRA Rule 8210. Previously, on October 19, 2010, FINRA had accepted AWC No. 2009016158801, in which Mr.…
Broker Nathan Gersteen Katz, Formerly with Triad Advisors LLC, BARRED by FINRA – Largo, FL
FINRA has barred former Triad Advisors LLC broker Nathan Gersteen Katz from the securities industry. Mr. Katz was expelled from the brokerage industry for refusing to cooperate with a FINRA investigation into Mr. Katz’s alleged recommendations of short-term switching of mutual funds, forgery of customer signatures on switch letters, use of…
Columbia, Missouri Broker, Alex Perry, Formerly of Stifel, Nicolaus & Company, Barred by FINRA
The Financial Industry Regulatory Authority (“FINRA”) has barred stockbroker Matthew Alexander Perry (“Alex Perry”) from the securities industry. Mr. Perry was expelled from the brokerage industry for refusing to cooperate with a FINRA investigation after Mr. Perry received a customer complaint alleging he failed to follow a customer’s stated goals…
Investor Alert: Iorio Altamirano LLP Investigates Merrill Lynch Over Unit Investment Trust (UIT) Early Rollover Practices
Iorio Altamirano LLP is investigating claims on behalf of Merrill Lynch, Pierce, Fenner & Smith Incorporated (“Merrill Lynch”) customers who invested in Unit Investment Trusts (UITs). If you have lost money with Merrill Lynch, contact New York securities arbitration lawyers Iorio Altamirano LLP for a free and confidential review of…
Broker Eric Burton, Formerly with LPL Financial LLC, Suspended by FINRA – Orland Park, IL
FINRA has suspended former LPL Financial LLC broker Eric Burton from the securities industry for 3 months for allegedly falsifying documents that he submitted to LPL in connection with twenty two variable annuity (“VA”) exchanges. Burton was also fined $5,000. If you have lost money with Eric Burton, or LPL…
Farmers Financial Solutions, LLC Sanctioned by FINRA
The Financial Industry Regulatory Authority (“FINRA”) and Farmers Financial Solutions, LLC (“Farmers Financial”) entered into a Letter of Acceptance, Waiver, and Consent No. 2017052173001 on June 21, 2021, after FINRA alleged supervisory failures related to variable universal life insurance contracts (“VUL”) and mutual fund businesses. The firm was censured and…
Alabama Financial Advisor, Kevin McCallum, Formerly of LPL Financial, Suspended for One Year for Making Unsuitable Investment Recommendations
The Financial Industry Regulatory Authority (“FINRA”) has suspended financial advisor Kevin McCallum from the securities industry for one year. Mr. McCallum consented to the suspension after FINRA alleged that from May 2017 through June 2019, while associated with LPL Financial LLC in Birmingham, Alabama, he made unsuitable recommendations to 12…
Jackson, Mississippi Investor Wins Arbitration Claim Against E*Trade Securities LLC
A FINRA arbitrator in Jackson, Mississippi, has found E*Trade Securities LLC liable for failing to execute a trade properly and ordered the online brokerage firm to pay its customer over $31,000 (the “Award”). According to the Award, the customer, Mr. David White, filed a claim against E*Trade in early February…
Broker John Braddock, Formerly with Lakeridge Capital Inc., Suspended by FINRA – Salida, CO
FINRA has suspended former Lakeridge Capital Inc. broker John Braddock from the securities industry for 5 months for preparing and distributing a private placement memorandum that negligently misrepresented and omitted facts relevant to an investment in a private placement. The alleged misconduct is said to have taken place between September…