The Securities and Exchange Commission has charged former Aegis Capital Corp. broker Surage Kamal Roshan Perera and his firm, Janues Capital Incorporated, with fraud and obtaining emergency relief in court, including a temporary restraining order and an asset freeze. The SEC alleges that from February 2022 until March 2023, the…
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…
On June 8, 2021, the Financial Industry Regulatory Authority (“FINRA”) and Titan Securities entered into a Letter of Acceptance, Waiver, and Consent (“AWC”) whereby Titan Securities consented to a censure and $20,000 fine. The sanctions are a result of Titan Securities’ failure to properly conduct an evaluation of a broker’s…
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 barred stockbroker Nicholas Palumbo from the securities industry. Mr. Palumbo was expelled from the brokerage industry after refusing to cooperate with a FINRA investigation into allegations related to his termination from Park Avenue Securities LLC. Mr. Palumbo was associated with Park Avenue Securities…
A FINRA Dispute Resolution Services arbitration panel in Richmond, Virginia, found Westpark Capital, Inc. to be liable for actions of its disgraced former broker, Lawrence Fawcett, and ordered the firm to pay nearly $800,000 to customers Charles and Karen Hailey. The award included over $545,000 in compensatory damages, $33,500 in…
The Financial Industry Regulatory Authority (“FINRA”) has barred stockbroker Candido Viyella. from the securities industry. Mr. Viyella was expelled from the brokerage industry for refusing to cooperate with a FINRA investigation. FINRA’s investigation originated after Morgan Stanley discharged Mr. Viyella and disclosed concerns regarding his participation, involvement, and a beneficial…
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,…
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…
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.…