FINRA has barred former AXA Advisors, LLC broker Edgar Kleydman from the securities industry. Kleydman consented to the sanction and to the entry of findings that he refused to appear for on-the-record testimony requested by FINRA during its investigation into whether he engaged in private securities transactions without providing written…
FINRA has barred former LPL Financial LLC broker Eric Shea Hollifield from the securities industry. Hollifield consented to the sanction and to the entry of findings that he refused to appear for on-the-record testimony or to produce the documents and information requested by FINRA in connection with its investigation into…
On October 28, 2021, the United States Securities and Exchange Commission (“SEC”) charged former Wells Fargo broker and investment advisor representative Kenneth Welsh with stealing nearly $3 million from his advisory clients and brokerage customers from January 2016 through January 2021. The SEC has accused Mr. Welsh of transferring funds…
According to Mr. Yurovsky’s public disclosure report, stockbroker Lenny Yurovsky received a Wells Notice from the Financial Industry Regulatory Authority (“FINRA”) on or about September 29, 2021, which made a preliminary determination to recommend that disciplinary action be brought against Mr. Yurovsky. In the Wells Notice, FINRA alleged willful violation…
**Update: July 6, 2022** On June 24, 2022, former UBS broker Patrick R. Murray was suspended by the Financial Industry Regulatory Authority (FINRA). Mr. Murray, who is not currently associated with a brokerage firm, consented to the suspension after FINRA alleged that from March 2018 to January 2019, Murray violated…
David Gentile, the disgraced founder of GPB Capital Holdings LLC, who is facing criminal and civil fraud charges, is seeking to obtain millions of dollars from GPB. Despite being accused of running a Ponzi-like scheme when he was running GPB Capital, Mr. Gentile is asking for court-supervised mediation to obtain…
FINRA has fined Merrill Lynch $1.5 million over its alleged breach of supervisory and disclosure-related rules involving short positions in municipal securities. The firm was censured, fined, and required to certify that its supervisory systems and written procedures are reasonably designed to achieve compliance with Municipal Securities Rulemaking Board (MSRB)…
FINRA has barred former Vorpahl Wing Securities broker Lee Nordstrom from the securities industry. Nordstrom consented to the sanction and to the entry of findings that he refused to appear for on-the-record testimony requested by FINRA during the course of an investigation into whether he engaged in potential unsuitable and…
FINRA has barred former PFS Investments Inc. broker Jeffrey Dampf from the securities industry. Dampf consented to the sanction and to the entry of findings that he refused to provide on-the-record testimony or to produce the documents and information requested by FINRA in connection with its investigation into allegations that…
FINRA has barred former Wells Fargo broker Courtney Michelle Kaplan from the securities industry. Kaplan consented to the sanction and to the entry of findings that she refused to provide documents and information requested by FINRA during an investigation into allegations made in a Form U5 amendment filed by Wells…