You worked hard, opened a brokerage or retirement account, and invested your savings with a financial advisor or stockbroker, only to suffer financial losses due to bad investment advice, misleading sales pitches, or brokers that were driven by commissions. Now what? Can I Sue My Financial Advisor Over Losses? Yes,…
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Former Morgan Stanley Broker, Constantinos Maniatis, Suspended by FINRA – Dallas, Texas
The Financial Industry Regulatory Authority (“FINRA”) has suspended financial advisor Constantinos Maniatis from the securities industry for 30 days. Mr. Maniatis consented to the suspension after FINRA alleged that he engaged in discretionary trading without written authorization in seven customer accounts between May 4, 2018, and February 27, 2019. FINRA…
Another Joseph Stone Capital L.L.C. Broker in Trouble with Regulators: Financial Advisor David Martirosian BARRED by FINRA – New York
The Financial Industry Regulatory Authority (“FINRA”) has barred stockbroker David Martirosian from the securities industry. Mr. Martirosian was expelled from the brokerage industry for refusing to cooperate with a FINRA investigation into potentially unsuitable and excessive trading and his potential participation in private securities transactions while associated with Joseph Stone…
Tampa Broker, Fred Rock, Formerly of Pruco Securities LLC, Suspended by FINRA
The Financial Industry Regulatory Authority (“FINRA”) has suspended stockbroker Frederick Rock from the securities industry for five months and ordered him to pay a $5,000 fine. FINRA sanctioned Mr. Rock because he solicited clients to purchase $409,200 worth of securities that were not approved by his firm, Pruco Securities LLC.…
Former LPL Financial LLC Broker Elias Hakimian, Suspended by FINRA – Costa Mesa, California
The Financial Industry Regulatory Authority (“FINRA”) has suspended financial advisor Elias Hakimian from the securities industry for three months. Mr. Hakimian consented to the suspension after FINRA alleged that he borrowed $120,000 from a customer without notice to or obtaining written pre-approval from his employing brokerage firm, LPL Financial LLC,…
FINRA Files Enforcement Action Against Former Joseph Stone Capital, LLC. Broker Abdul Rahmani
**Update: November 8, 2021** On April 15, 2021, FINRA’s Department of Enforcement filed disciplinary proceeding No. 2019063626703 against former Joseph Stone Capital broker Abdul Rahmani. On October 28, 2021, Mr. Rahmani submitted an Offer of Settlement to FINRA’s Department of Enforcement. On November 2, 2021, FINRA’s Department of Enforcement and…
Former Financial Advisor Michael Dellaporta, Jr. BARRED From the Securities Industry by FINRA – Fort Lauderdale, Florida
The Financial Industry Regulatory Authority (“FINRA”) has barred stockbroker Michael Dellaporta, Jr. from the securities industry. Mr. Dellaporta was expelled from the brokerage industry for refusing to cooperate with a FINRA investigation into an outside business activity. Mr. Dellaporta, who was a broker for over forty years, most recently worked…
FINRA Files Enforcement Action Against Hugues Guirand, Formerly of Woodstock Financial Group, Inc. – Virginia Beach, VA
**Update: July 26, 2021** FINRA has barred Hugues Guirand from the securities industry after Mr. Guirand failed to respond to FINRA’s Department of Enforcement’s complaint. Original Post: FINRA Files Enforcement Action Against Hugues Guirand, Formerly of Woodstock Financial Group, Inc. – Virginia Beach, VA The Financial Industry Regulatory Authority’s Department…
Former IFS Securities Broker, Steven Schisler, Facing Disciplinary Charges by FINRA for Numerous Alleged Misconduct, Including Unsuitable Investment Recommendations to An Elderly Couple
The Financial Industry Regulatory Authority’s Department of Enforcement has filed a disciplinary proceeding complaint against former broker Steven Schisler. The complaint alleges that from April 2009 to October 2020, Steven Schisler committed nine separate violations of FINRA and NASD rules related to his dealings with two sets of retired customers…
Iorio Altamirano LLP is Investigating MSC – BD, LLC and Broker Robert Fehrman For Recommending GPB Capital Holdings to Customers
Iorio Altamirano LLP is currently investigating MSC – BD, LLC, and veteran stockbroker Robert Fehrman for recommending that clients invest in private placement securities issued by GPB Capital. Mr. Fehrman and MSC – BD, LLC are currently the subject of a customer dispute related to his recommendation of GPB Automotive…