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Bloomington, Minnesota Financial Advisor, John Swon, Formerly of Royal Alliance Associates and Focus Financial, Barred by FINRA

The Financial Industry Regulatory Authority (“FINRA”) has barred financial advisor John Swon from the securities industry.  Mr. Swon was expelled from the brokerage industry for refusing to cooperate with a FINRA investigation.  FINRA launched the investigation after a customer complained that Mr. Swon misappropriated or mismanaged funds entrusted to him…

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Medford, Oregon Financial Advisor, Juan Ceja, Formerly of PFS Investments Inc, Barred by FINRA

The Financial Industry Regulatory Authority (“FINRA”) has barred stockbroker Juan Ceja from the securities industry.  Mr. Ceja was expelled from the brokerage industry for refusing to cooperate with a FINRA investigation.  FINRA launched the investigation after PFS Investments, Inc. discharged Mr. Ceja in February 2021 and alleged that he “submitted…

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Stu Pearl, Former David A. Noyes & Company Broker, Suspended for Making Unsuitable Non-Traditional ETF Investment Recommendations – Indianapolis, IN

The Financial Industry Regulatory Authority (“FINRA”) has suspended financial advisor Stuart Pearl from the securities industry for three months.  Mr. Pearl consented to the suspension after FINRA alleged that from March 2017 and August 2018, while associated with David A. Noyes & Company (now Sanctuary Securities, Inc.) in Indianapolis, Indiana,…

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Former Worden Capital Management LLC Broker, Christopher Orlando, BARRED by FINRA for Excessively Trading 13 Accounts

On July 1, 2021, the Financial Industry Regulatory Authority (“FINRA”) and broker Christopher Orlando entered into a Letter of Acceptance, Waiver, and Consent No. 2017056432603 after FINRA alleged that from October 2015 through December 2018, Mr. Orlando excessively traded 13 accounts of 12 customers in violation of Rules 2111 and…

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Breaking News:  Robinhood Ordered to Pay $70 Million, the Largest Financial Penalty Ever Ordered by FINRA

On June 30, 2021, the Financial Industry Regulatory Authority (“FINRA”) announced that it ordered Robinhood Financial LLC to pay approximately $70 million for systemic supervisory failures and significant harm suffered by millions of customers.  The sanctions included an order to pay a $57 million fine and $12.6 million in restitution,…

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Joseph Stone Capital L.L.C. Broker Suspended by FINRA

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…

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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…

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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…

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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…

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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…

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