FINRA has suspended financial advisor Ivan Shore from the securities industry for three months and fined him $5,000. Ivan Shore has been a stockbroker at Oppenheimer & Co. Inc. since 1997. FINRA alleged that between July 1, 2011, and December 31, 2015, Ivan Shore engaged in an unsuitable pattern of…
**Update: 3/22/2021** Ms. Cowden has been the subject of two additional customer disputes since November 2020. First, in November 2020, a customer filed a securities arbitration complaint alleging $400,000 in damages concerning a real estate security recommendation. The causes of action included breach of fiduciary duty, unauthorized trading, and elder…
On October 9, 2020, FINRA suspended Donatas B. Vildzius from the securities industry for six months and fined him $5,000. This sanction is the third time Mr. Vildzius has been suspended by FINRA, with previous suspensions in 2006 and 2014. Donatas Vildzius is a stockbroker and registered representative at Network…
FINRA has filed an enforcement complaint against Stephen Sloane, alleging that from January 2014 to January 2018, he recommended an unsuitable investment strategy to at least 14 customers. The complaint alleges that Sloane did not have a reasonable basis for recommending that his customers engage in active, short-term trading of…
On August 12, 2020, Morgan Stanley and FINRA entered into a Letter of Acceptance, Waiver, and Consent (“AWC”) over allegations that it failed to reasonably supervise its former broker Kevin Gunnip. As part of the AWC, Morgan Stanley agreed to pay a $175,000 fine and was censured by FINRA. It…
FINRA has permanently barred Jeffrey A. Broten from the securities industry. Jeffrey Broten was a financial advisor and registered representative at the following firms: Newbridge Securities Corporation (affiliated with Black River Wealth Management LTD), Morristown, NJ (August 2019 to December 2019); First Standard Financial Company LLC, Red Bank, NJ (February…