The Financial Industry Regulatory Authority (“FINRA”) has barred financial advisor Enoch Booth from the securities industry for refusing to cooperate with a FINRA investigation into whether Mr. Booth engaged in unauthorized private securities transactions and outside business activities. FINRA launched the investigation after Valic Financial Advisors, Inc. terminated Mr. Booth’s…
FINRA has fined and censured NEXT Financial Group, Inc. (“NEXT”) over supervisory failures related to unsuitable short-term trading of mutual funds and municipal bonds, and over-concentration of customer accounts in Puerto Rican municipal bonds. NEXT was fined $750,000 and consented to provide a certification to FINRA, within 120 days, regarding…
The Financial Industry Regulatory Authority (“FINRA”) has barred financial advisor Ronald Giovino from the securities industry for refusing to cooperate with a FINRA investigation into whether Mr. Giovino converted customer funds. FINRA launched the investigation after it received information through the FINRA Securities Helpline for Seniors. Mr. Giovino has been…
FINRA has suspended Popular Securities, LLC broker Fernando Luis Monllor from the securities industry for 30 business days for using a pre-signed Letter of Authorization (LOA) from a customer to transfer assets among the customer’s accounts. Monllor’s suspension is scheduled to start on August 2, 2021, and end on September…
The Financial Industry Regulatory Authority (“FINRA”) has barred financial advisor Tyler Rigsbee from the securities industry for refusing to cooperate with a FINRA investigation. FINRA launched the investigation after Wells Fargo terminated Mr. Rigsbee in April 2021 and alleged that he “was terminated during the course of an internal review…
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…
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…
FINRA has barred former NYLIFE Securities LLC broker Daniel Jossen from the securities industry. Mr. Jossen was expelled from the brokerage industry for failing to the provide information requested by FINRA pursuant to Rule 8210, in violation of Rules 8210 and 2010. If you have lost money with Daniel Jossen,…
FINRA has barred former NTB Financial Corporation (“NTB”) broker George Louis McCaffrey III from the securities industry. Mr. McCaffrey was expelled from the brokerage industry for providing false information to FINRA during a prior investigation and for participating in $270,000 of private securities transactions without prior written disclosure to and…
FINRA has barred former Gentem Capital broker Cesar Gabriel Hernandez from the securities industry. Mr. Hernandez was expelled from the brokerage industry for refusing FINRA’s request to appear for on-the-record testimony pursuant to FINRA Rule 8210. Previously, on October 19, 2010, FINRA had accepted AWC No. 2009016158801, in which Mr.…