financial advisor malpractice

Former J.P. Morgan Securities Broker Jasmit Singh SUSPENDED by FINRA – New York, NY

Published on: February 3, 2021 | by Iorio Altamirano

The Financial Industry Regulatory Authority (“FINRA”) has suspended former broker Jasmit Singh from the securities industry for seven months over allegations that Mr. Singh participated in private securities transactions and engaged in outside business activities without providing prior written notice to his firm. In addition to the suspension, FINRA fined him $10,000 and ordered him to disgorge $5,500 in finder’s fees.

Mr. Singh was registered as an Investment Banking Representative with J.P. Morgan Securities LLC (“J.P. Morgan”) in New York, NY, from August 2017 until February 2020.

If you have lost money with former broker Jasmit Singh or J.P. Morgan, contact New York securities arbitration lawyers Iorio Altamirano LLP for a free and confidential evaluation of your account.

Columbus, Ohio Financial Advisor Lisa Stevenson, Formerly of The Huntington Investment Company, BARRED by FINRA

Published on: February 3, 2021 | by Iorio Altamirano

FINRA has barred stockbroker Lisa Marie Stevenson (Lisa Marie Gastaldo) from the securities industry. FINRA expelled Ms. Stevenson from the brokerage industry because she refused to provide information and documents connected with FINRA’s investigation into the circumstances given rise to her termination from The Huntington Investment Company in December 2020.

Ms. Stevenson was a financial advisor at The Huntington Investment Company in New Albany, Ohio, from March 2016 until her employment was terminated in December 2020. The Huntington Investment Company fired Ms. Stevenson after she admitted that she received, among other things, a $100,000 gift from a customer in contravention of firm policy and FINRA rules.

If you have suffered financial losses investing with Lisa Stevenson or suspect that Ms. Stevenson did not have your best interest in mind when recommending investments or account transactions, contact New York securities arbitration law firm Iorio Altamirano LLP for a free and confidential review of your account .

Arive Capital Markets’ Roy Failla Suspended by New Jersey for Engaging in Dishonest and Unethical Practices in the Securities Business, Including Excessive Trading

Published on: February 1, 2021 | by Iorio Altamirano

The State of New Jersey Bureau of Securities has suspended the registration of stockbroker Roy Joseph Failla for 45-days and fined him $15,000.

The New Jersey regulator alleged that between October 27, 2014, through September 25, 2019, while employed by First Standard Financial Company in New York, NY, Roy Failla excessively and unsuitably traded two customers’ accounts.

Mr. Failla has since been associated with Arive Capital Markets, LLC (“Arive Capital Markets) in Staten Island, NY as a financial advisor and the firm’s Senior Vice President of Business Development. Also, according to public records, Mr. Failla has an indirect ownership interest in Arive Capital Markets.

Former Merrill Lynch Broker in Atlanta, Tyler Delahunt, BARRED by FINRA

Published on: January 26, 2021 | by Iorio Altamirano

The Financial Industry Regulatory Authority (“FINRA”) has barred financial advisor Tyler Dean Delahunt from the securities industry. Tyler Delahunt was registered with Merrill Lynch, Pierce, Fenner & Smith Incorporated (“Merrill Lynch”) in Atlanta, Georgia, from October 2016 until August 2020. Merrill Lynch terminated Mr. Delahunt’s employment on August 3, 2020, alleging that his conduct involved improper solicitation of clients related to private securities transactions. Merrill Lynch also alleged that Mr. Delahunt participated in financial arrangements involving clients.

If you or a loved one were a customer of Tyler Delahunt and either sustained financial losses or suspect inappropriate activity, contact New York securities arbitration law firm Iorio Altamirano LLP for a free and confidential review of your account or annuity contract.

Iorio Altamirano LLP represents investors that have disputes with their financial advisors or brokerage firms, such as Merrill Lynch.

Financial Advisor Anthony Tricarico Suspended by FINRA for Excessive Trading While Employed at Aegis Capital Corp. – New York, NY

Published on: January 26, 2021 | by Iorio Altamirano

**Update: November 11, 2021** On November 8, 2021, Aegis Capital Corp agreed to pay nearly $2.7 million in sanctions for supervisory failures related to excessive and unsuitable trading by its brokers from July 2014 through December 2018. Click on the following link to read more: Aegis Capital Corp. Ordered to Pay Nearly $2.7 Million for Supervisory Failures Related to Rampant Excessive and Unsuitable Trading

Customers of Aegis Capital, including customers that have been notified that they may be receiving restitution, should consult with a securities arbitration law firm. If you or a loved one were a customer of Aegis Capital, contact New York securities arbitration law firm Iorio Altamirano LLP for a free and confidential consultation and review of your legal rights.

Original Post:

After Merrill Lynch Has Paid Over $66 Million to Settle Churning Allegations Against Former Broker Charles Kenahan, FINRA Has Barred Kenahan From the Industry.

Published on: January 25, 2021 | by Iorio Altamirano

Summary:

FINRA has barred financial advisor Charles Kenahan from the securities industry after he refused to cooperate with FINRA’s investigation.
In 2019, Bank of America Merrill Lynch agreed to pay $40 million to settle with Robert Levine, co-founder of Cabletron Systems, over churning allegations.

Fort Lauderdale Financial Advisor Bryan Mazliach BARRED by FINRA For Excessive Trading and Unauthorized Trades

Published on: January 25, 2021 | by Iorio Altamirano

On January 20, 2021, a Financial Industry Regulatory Authority Hearing Officer barred Bryan G. Mazliach from the securities industry for:

Recommending and effecting an unsuitable investment strategy to five customers involving in-and-out, short-term, and excessive trading.
Executing unauthorized trades in the accounts of eight customers.

Sparks, Nevada Financial Advisor, Javelin Mikol San Nicolas, Formerly of Edward Jones, BARRED by FINRA

Published on: January 19, 2021 | by Iorio Altamirano

FINRA has barred stockbroker Javelin Mikol San Nicolas from the securities industry. FINRA expelled Mr. San Nicolas from the brokerage industry because he refused to provide information and documents connected with FINRA’s investigation into the circumstances given rise to his termination from Edward Jones in August 2020.

Mr. San Nicolas was a financial advisor at Edward Jones in Sparks, Nevada, from December 2016 until his employment was terminated in August 2020. Edward Jones discharged Mr. San Nicolas over concerns that a client issued cashiers’ checks in the amount of $49,000 to Mr. San Nicolas with proceeds that were withdrawn from the client’s account at Edward Jones. Mr. San Nicolas stated that the checks were for the option of purchasing two Personal Seat Licenses for the Las Vegas Raiders football team, to be transferred to the client’s name later in 2020. At the time of the termination, the client had not received the purported Personal Seat Licenses.

The client filed a complaint with Edward Jones in July 2020. No further details are publicly available regarding this pending complaint.

Berthel Fisher & Company Financial Services, Inc. Customer in Layton, Utah Filed FINRA Arbitration Complaint About REITs and BDCs

Published on: January 14, 2021 | by Iorio Altamirano

A Berthel Fisher & Company Financial Services, Inc. customer has recently filed a complaint with FINRA Dispute Resolution Services alleging that former broker Robyn D. Simons recommended unsuitable investments in real estate investment trusts (REITs) and business development companies (BDCs). The investments were reportedly purchased between 2014 and 2016. The complaint also alleges that Berthel Fisher & Company Financial Services, Inc. failed to supervise Robyn Simons’ actions. The customer has alleged $200,000 in damages.

This complaint is not the first securities arbitration claim filed against Robyn Simons and Berthel Fisher & Company Financial Services, Inc. arising out of Robyn Simons’ investment recommendations. In 2015, a customer filed a FINRA arbitration complaint alleging that investments made in her accounts between 2013 and 2015 were unsuitable. The customer also alleged that Robyn Simons misrepresented the securities to her at the time of purchase. Reportedly, the investments included a REIT, BDC, Unit Investment Trust (UIT), and equities. According to Robyn Simons’ BrokerCheck Report, Berthel Fisher & Company Financial Services, Inc. settled the matter with the aggrieved customer for $21,500.

Robyn Simons was registered with Berthel Fisher & Company Financial Services, Inc. in Layton, Utah, from February 2008 until September 2017.

Springfield, IL Financial Advisor Dustin P. Shafer BARRED by FINRA After Allegedly Borrowing Money from an Elderly Customer

Published on: January 8, 2021 | by Iorio Altamirano

**Update 4/14/2021** Iorio Altamirano LLP is currently investigating Newbridge Securities Corporation, Money Concepts Capital Corp, and Dustin Shafer for recommending that clients invest in private placement securities issued by GPB Capital. The GPB funds, which are private securities offerings exempt from registration with the Securities and Exchange Commission (SEC), are inherently risky investments. These investments are suitable only for highly sophisticated investors who understand the risks and can afford a significant monetary loss. Unfortunately, many brokerage firms and brokers sold the GPB Capital securities to retirees and unsophisticated investors because they paid a high up-front commission.

If you have suffered financial losses as a result of any of the following GPB private placement offerings, contact Iorio Altamirano LLP for a free and confidential review of your legal rights:

GPB Automotive Portfolio, LP