financial investment lawyers

Micah W. Patterson Was Suspended for One Month for Soliciting Future Income Payments, LLC – Centerville, Utah

Published on: November 23, 2020 | by Iorio Altamirano

In June 2020, FINRA suspended financial advisor Micha W. Patterson (CRD #5562392) for one month from the securities industry and ordered him to pay a $5,000 fine. These sanctions arose from Mr. Patterson’s solicitation of Future Income Payments, LLC. This blog has previously written about Future Income Payments, LLC.

FINRA alleged that between June 2017 and November 2017, Micah Patterson participated in private securities transactions totaling $30,644 without prior disclosure and approval from his employer at the time, MML Investors Services, LLC. Specifically, FINRA alleged:

From June through November 2017, Patterson solicited an investor to purchase $30,644 in securities of Future Income Payments, LLC.

INVESTIGATION: Former Edward Jones Financial Advisor Matthew Jennings Barred by FINRA– Johnston, Iowa

Published on: November 21, 2020 | by Iorio Altamirano

FINRA has barred financial advisor Matthew Jennings (CRD# 6762685) from the securities industry for refusing to cooperate with a FINRA investigation. Mr. Jennings was fired by Edward Jones in August 2019 due to concerns that he introduced clients to investments not offered through the firm. This type of conduct is often referred to as “selling away.”

What is “selling away?”

“Selling away” is when a financial advisor solicits a customer to participate in a private securities transaction that is not offered or approved by the brokerage firm where the financial advisor is employed or registered.

Former Merrill Lynch Broker Douglas Stopkey Suspended by FINRA for 30 Days Over Unauthorized Trading and Mismarked Orders in Senior Customer Accounts

Published on: November 19, 2020 | by Iorio Altamirano

FINRA has suspended financial advisor Douglas William Stopkey from the securities industry for a 30-day period, which began on November 16, 2020, and runs through December 15, 2020. Douglas Stopkey was registered with Merrill Lynch, Pierce, Fenner & Smith in Richmond, VA, from March 1992 until September 2018, when he was terminated. Since then, he has been registered with Davenport & Company LLC in Richmond, VA.

If you have lost money with Douglas Stopkey, contact New York securities arbitration lawyers Iorio Altamirano LLP for a free and confidential evaluation of your account.

Douglas Stopkey and FINRA entered into a Letter of Acceptance, Waiver, and Consent (“AWC”) on October 26, 2020, over allegations related to Stopkey’s conduct between January 2016 and June 2018. Specifically, FINRA alleged:

David T. Phillips Suspended for Nine Months for Future Income Payments, LLC Solicitation – Gilbert, Arizona

Published on: November 18, 2020 | by Iorio Altamirano

FINRA has suspended stockbroker David T. Phillips (CRD #3094195) for nine months from the securities industry and ordered him to pay a $5,000 fine. These sanctions arose from Mr. Phillips’ solicitation of Future Income Payments, LLC. This blog has previously written about Future Income Payments, LLC.

FINRA alleged that between May 2017 and April 2018, David Phillips participated in private securities transactions totaling $876,636, without prior disclosure and approval from his employer at the time, ProEquities, Inc. Specifically, FINRA alleged:

Between May 2017 and April 2018, Mr. Phillips solicited eight investors to purchase $876,363 in securities of Future Income Payments, LLC.

Troy R. Baily Suspended for Recommending Future Income Payments, LLC – Omaha, Nebraska

Published on: November 17, 2020 | by Iorio Altamirano

FINRA has suspended stockbroker Troy R. Baily (CRD #4458930) for six months from the securities industry and ordered him to pay a $5,000 fine. These sanctions arose from Mr. Baily’s solicitation of Future Income Payments, LLC. This blog has previously written about Future Income Payments, LLC.

FINRA alleged that between February and May 2017, Troy Baily participated in private securities transactions totaling $210,000, without prior disclosure and approval from his employer at the time, Sagepoint Financial, Inc. Specifically, FINRA alleged:

Between February and May 2017, Mr. Baily solicited investors to purchase $210,000 in securities of Future Income Payments, LLC.

Lonna R. Dehn Ristvedt Suspended for Soliciting Customers to Buy Future Income Payments, LLC – Fargo, North Dakota

Published on: November 17, 2020 | by Iorio Altamirano

FINRA has suspended stockbroker Lonna Rae Dehn Ristvedt (CRD #2277778) for four months from the securities industry and ordered her to pay a $5,000 fine. These sanctions arose from Ms. Dehn Ristvedt’s solicitation of Future Income Payments, LLC. This blog has previously written about Future Income Payments, LLC.

FINRA alleged that in June 2015, Lonna Rae Dehn Ristvedt participated in private securities transactions totaling $163,320 without prior disclosure and approval from her employer at the time, National Planning Corporation. Specifically, FINRA alleged:

In June 2015, Ms. Dehn Ristvedt solicited two investors to purchase $163,320 in securities of Future Income Payments, LLC.

John Westbrook Suspended for Future Income Payments, LLC Solicitation – Montgomery, Alabama

Published on: November 17, 2020 | by Iorio Altamirano

FINRA has suspended stockbroker John A. Westbrook (CRD #1846059) for five months from the securities industry and ordered him to pay a $5,000 fine. These sanctions arose from Mr. Wesbrook’s solicitation of Future Income Payments, LLC. This blog has previously written about Future Income Payments, LLC.

FINRA alleged that between October 1, 2016, and May 9, 2017, John Westbrook participated in private securities transactions totaling $350,335, without prior disclosure and approval from his employer at the time, Center Street Securities, Inc. Specifically, FINRA alleged:

Between October 1, 2016, and May 9, 2017, Mr. Westbrook solicited three investors to purchase $350,335 in securities of Future Income Payments, LLC.