On June 2, 2021, FINRA’s National Adjudicatory Council modified a FINRA’s Office of Hearing Officers decision from 2019 that was filed by FINRA’s Department of Enforcement against Titan Securities, Brad Brooks, and broker Richard Demetriou. The modified order has resulted in a one-year suspension of Titan Securities’ CEO and owner…
The Financial Industry Regulatory Authority (“FINRA”) has suspended financial advisor Ricardo Turlan from the securities industry for two months. Mr. Turlan consented to the suspension after FINRA alleged that he engaged in discretionary trading without written authorization in two customer accounts between June 2017 and February 2019. Mr. Turlan also…
Financial Industry Regulatory Authority (“FINRA”) Office of Hearing Officers has barred stockbroker James W. Flower from the securities industry for excessively trading in five customers’ accounts, executing 17 unauthorized trades, and mismarking 58 transactions. According to the findings, although he is based in New York, Mr. Flower generated business by…
The Financial Industry Regulatory Authority’s Department of Enforcement has filed a disciplinary proceeding complaint against brokerage firm NYPPEX, LLC (CRD No. 47654), Former Chief Executive Officer (“CEO”) Laurence Allen (CRD No. 1063970), and Chief Compliance Officer (“CCO”) Michael Schunk (CRD No. 732595). The complaint alleges: Allen continued to serve as…
Ross Barish is a stockbroker with Joseph Stone Capital L.L.C. (“Joseph Stone Capital”) in Mineola, New York. Mr. Barish is currently under investigation by the United States Securities and Exchange Commission (“SEC”) for defrauding sixteen retail customers by executing a high-cost, in-and-out pattern of trading that lost his customers over $800,000 while…
The Financial Industry Regulatory Authority (“FINRA”) has suspended Triad Advisors LLC broker Mark Just from the securities industry for three months for willfully failing to timely amend his Uniform Application for Securities Industry Registration or Transfer (Form U4) to disclose two state tax liens, which totaled $37,333.80. Mr. Just was…
Iorio Altamirano LLP is investigating claims on behalf of customers of Calton & Associates, Inc. after the firm was censured, fined $250,000, and ordered to pay $472,007 in restitution to harmed investors by FINRA. The sanctions involve supervisory failures between February 2014 and February 2020 related to suitability obligations connected…
Martin Lerner is a stockbroker with David Lerner Associates, Inc. (“David Lerner Associates”) in Boca Raton, Florida, with a history of customer complaints. Martin Lerner has been the subject of six customer complaints, which include one pending dispute and five resolved disputes that ended with monetary compensation being paid to…
On May 17, 2021, a FINRA arbitration panel issued an award in favor of customer Donna Wagner in a securities arbitration against Brokers International Financial Services, LLC and former broker Mark Christopher Perry. Brokers International Financial Services and Mr. Perry (the “Respondents”) were held jointly and severally liable for $795,929…
On Friday, May 14, 2021, GPB Capital Holdings LLC (“GPB Capital”), a private equity firm based in New York, registered some units in its GPB Automotive Portfolio, LP (“GPB Automotive”) with the Securities and Exchange Commission. As part of its filing, GPB Automotive disclosed that it had substantial doubt of…