**Update: November 11, 2021** On November 8, 2021, Aegis Capital Corp agreed to pay nearly $2.7 million in sanctions for supervisory failures related to excessive and unsuitable trading by its brokers from July 2014 through December 2018. Click on the following link to read more: Aegis Capital Corp. Ordered to…
The Financial Industry Regulatory Authority (“FINRA”) has suspended financial advisor Mark Larry Delgadillo from the securities industry for one month. Mr. Delgadillo consented to the suspension after FINRA alleged that he engaged in discretionary trading without written authorization for 16 customers between August 1, 2019, and October 31, 2019, executing…
The Financial Industry Regulatory Authority (“FINRA”) has barred broker Chad Mackland from the securities industry. Mr. Mackland was barred from the brokerage industry for refusing to cooperate with a FINRA investigation into alleged theft and fraudulent sales practices. According to his BrokerCheck report, Mr. Mackland is facing four felony charges…
The Financial Industry Regulatory Authority (“FINRA”) has barred compliance officer Corey White from the securities industry and fined him $20,000. Mr. White was expelled from the brokerage industry for supervisory failures during his tenure as a compliance officer for Financial West Group in Westlake Village, CA, from January 2013 to…
FINRA has suspended financial advisor Trevor B. Rahn from the securities industry for 18 months and fined him $10,000. FINRA alleged that Mr. Rahn engaged in a pattern of breaking up customer orders for execution in violation of FINRA Rules. Specifically, from January 2014 to September 2018, Mr. Rahn recommended…
**Update: November 11, 2021** On November 8, 2021, Aegis Capital Corp agreed to pay nearly $2.7 million in sanctions for supervisory failures related to excessive and unsuitable trading by its brokers from July 2014 through December 2018. Click on the following link to read more: Aegis Capital Corp. Ordered to…
On March 5, 2021, a FINRA Dispute Resolution Services arbitration panel in Denver, Colorado, ordered UBS Financial Services, Inc. (“UBS”) to pay customers over $1 million in compensatory damages. The claims, which include breach of duty, violations of the Nebraska Securities Act, and professional negligence arising out of broker Jason…
This post is part of a series of investigative blog posts that spotlight modern-day boiler rooms that operate under the guise of a reputable brokerage firm. Many of the broker-dealers featured in this series still use boiler room tactics such as cold-calling customers and high-pressure or aggressive sales tactics. Other…
**Update: September 2, 2021** On August 27, 2021, FINRA accepted Mr. Jensen’s offer to settle disciplinary proceeding No. 2018059733101. As a result, Mr. Jensen has been suspended from associating with any brokerage firm in any capacity for six months and fined $10,000. Original Post: Former Ameriprise Financial Services Broker, Clyde…
The Financial Industry Regulatory Authority (“FINRA”) has barred stockbroker George Marshall Warner from the securities industry. Mr. Warner, who has a history of customer complaints and disciplinary action, was expelled from the brokerage industry for refusing to cooperate with a FINRA investigation in whether Mr. Warner participated in an undisclosed…