The Financial Industry Regulatory Authority (“FINRA”) has barred financial advisor Tyler Dean Delahunt from the securities industry. Tyler Delahunt was registered with Merrill Lynch, Pierce, Fenner & Smith Incorporated (“Merrill Lynch”) in Atlanta, Georgia, from October 2016 until August 2020. Merrill Lynch terminated Mr. Delahunt’s employment on August 3, 2020,…
**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…
Summary: FINRA has barred financial advisor Charles Kenahan from the securities industry after he refused to cooperate with FINRA’s investigation. In 2019, Bank of America Merrill Lynch agreed to pay $40 million to settle with Robert Levine, co-founder of Cabletron Systems, over churning allegations. In December 2020, the State of…
On January 20, 2021, a Financial Industry Regulatory Authority Hearing Officer barred Bryan G. Mazliach from the securities industry for: Recommending and effecting an unsuitable investment strategy to five customers involving in-and-out, short-term, and excessive trading. Executing unauthorized trades in the accounts of eight customers. Failing to provide documents and…
As Joe Biden takes his place as the 46th President of the United States of America, House Financial Services Committee Chairwoman Maxine Waters, D-Calif., urges the Biden Administration to rescind Regulation Best Interest (Reg BI). In a letter dated December 4, 2020, Rep. Waters outlined dozens of Trump-era regulations promulgated…
FINRA has suspended financial advisor Christian Frank Lucchetto (CRD No. 4648994) from the securities industry for three months and fined him $5,000. FINRA alleged that between January 2018 through May 2019, while employed by First Standard Financial Company in Red Bank, NJ, Frank Lucchetto excessively and unsuitably traded a customer’s…
FINRA has barred stockbroker Javelin Mikol San Nicolas from the securities industry. FINRA expelled Mr. San Nicolas from the brokerage industry because he refused to provide information and documents connected with FINRA’s investigation into the circumstances given rise to his termination from Edward Jones in August 2020. Mr. San Nicolas…
A Berthel Fisher & Company Financial Services, Inc. customer has recently filed a complaint with FINRA Dispute Resolution Services alleging that former broker Robyn D. Simons recommended unsuitable investments in real estate investment trusts (REITs) and business development companies (BDCs). The investments were reportedly purchased between 2014 and 2016. The…
The Financial Industry Regulatory Authority (“FINRA”) has suspended financial advisor Arthur Obermeier from the securities industry for 60 days and fined him $5,000. Mr. Obermeier’s sanctions arise from his execution of trades without his customers’ authorization or consent. Arthur Obermeier was registered with LPL Financial LLC in Boulder, Colorado, from…
FINRA has barred stockbroker Christopher B. Black from the securities industry. FINRA handed down the expulsion because Mr. Black refused to provide information and documents connected with FINRA’s investigation into whether Mr. Black entered into undisclosed loan arrangements with a customer. Mr. Black was a financial advisor at LPL Financial…