**Update: July 29, 2021** On July 28, 2021, Iorio Altamirano LLP announced that it is investigating potential claims involving investments in L Bonds offered by GWG Holdings (GWGH). Customers of Candice Montie can contact Iorio Altamirano LLP for a free and confidential consultation and review of their legal rights. …
On March 31, 2021, a FINRA Dispute Resolution Services arbitration panel in Columbus, Ohio, ordered UBS Financial Services, Inc. (“UBS”) to pay customers over $372,000 in compensatory damages and fees. The claimants, Matthew and Lisa Fisher alleged that UBS and brokers Ortal Shachar and Richard Mark Held presented the Yield…
The Financial Industry Regulatory Authority (“FINRA”) has sanctioned Securities America, Inc. (“Securities America”) for failing to reasonably supervise brokers’ recommendations of the LJM Preservation & Growth Fund. On March 29, 2021, FINRA and Securities America entered into a Letter of Acceptance, Waiver, and Consent (“AWC”) whereby Securities America accepted the…
The Financial Industry Regulatory Authority (“FINRA”) has sanctioned J.W. Cole Financial, Inc. (“J.W. Cole”) for failing to reasonably supervise brokers’ recommendations of the LJM Preservation & Growth Fund. On March 18, 2021, FINRA and J.W. Cole entered into a Letter of Acceptance, Waiver, and Consent (“AWC”) whereby J.W. Cole accepted…
The Financial Industry Regulatory Authority (“FINRA”) has sanctioned Cambridge Investment Research, Inc. (“Cambridge”) for failing to reasonably supervise brokers’ recommendations of the LJM Preservation & Growth Fund. On March 29, 2021, FINRA and Cambridge entered into a Letter of Acceptance, Waiver, and Consent (“AWC”) whereby Cambridge accepted the following sanctions:…
The Financial Industry Regulatory Authority (“FINRA”) has barred stockbroker Charles Thomas Stevens from the securities industry for failing to appear and provide on-the-record testimony. On December 1, 2020, FINRA’s Department of Enforcement filed a three-cause complaint against Mr. Stevens. The first cause of action charged that Mr. Stevens willfully failed…
The Financial Industry Regulatory Authority (“FINRA”) has suspended stockbroker Victor A. Rigoni, III from the securities industry for three months. FINRA accepted an Offer of Settlement submitted by Mr. Rigoni after FINRA’s Department of Enforcement filed a disciplinary complaint against Mr. Rigoni in August 2020. The complaint alleged that from…
The Securities and Exchange Commission (“SEC”) announced an award of over $500,000 to a whistleblower who provided information and assistance that helped shut down an ongoing fraudulent scheme. The whistleblower initially raised concerns internally before submitting a tip to the SEC. In connection with the announcement, Jane Norberg, Chief of…
The Financial Industry Regulatory Authority (“FINRA”) has barred broker Jeremy Taylor Johnson from the securities industry. FINRA expelled Mr. Johnson from the brokerage industry for refusing to cooperate with a FINRA investigation into the suitability and potential misrepresentations and omissions related to Johnson’s offer and sale of two securities offerings…
FINRA has suspended former RBC Capital Markets broker Jeffrey Fladell from associating with any FINRA member for three months over unsuitable recommendations he made to a retired senior over 100 years old, which resulted in her extreme overconcentration in high-yield municipal bonds. In addition to his suspension, Fladell was fined…