FINRA rule 8210

Former Aegis Capital Corp Broker, Kishan (Sean) Parikh, Facing Disciplinary Charges by FINRA for Unsuitable Investment Recommendations and Excessive Trading

Published on: March 17, 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.

**Update: July 9, 2021** Update: Former Aegis Capital Corp Broker, Kishan (Sean) Parikh, SUSPENDED by FINRA for Excessive Trading and Unauthorized Trading

Former Kestra Investment Services, LLC Broker, Mayur Dalal, BARRED by FINRA – New Hyde Park, NY

Published on: March 10, 2021 | by Iorio Altamirano

The Financial Industry Regulatory Authority (“FINRA”) has barred stockbroker Mayur T. Dalal from the securities industry. Mr. Dalal was expelled from the brokerage industry after refusing to cooperate with a FINRA investigation into allegations related to his termination from Kestra Investment Services, LLC. Mr. Dalal was associated with Kestra Investment Services from June 2016 until he was discharged in February 2020 over allegations that he engaged in undisclosed private securities transactions and outside business activity.

If you have lost money with broker Mayur Dalal or Kestra Investment Services, LLC, contact New York securities arbitration law firm Iorio Altamirano LLP for a free and confidential evaluation of your account.

FINRA Letter of Acceptance, Waiver, and Consent No. 2020065664201

Former Broker Ryan Tarjanyi Barred by FINRA – Kettering, OH

Published on: March 7, 2021 | by Iorio Altamirano

FINRA has barred former Bankers Life Securities broker Ryan Tarjanyi from the securities industry for providing inaccurate information during on-the-record testimony regarding a customer’s execution of an annuity partial withdrawal form, in violation of FINRA Rules 8210 and 2010.

FINRA initially opened an examination of Tarjanyi’s sales practices in 2019. At that time, Bankers Life Securities reported that customers complained about Tarjanyi, alleging forgery and falsification of information on an insurance application and annuity withdrawal forms.

On September 24, 2020, FINRA made a preliminary determination to recommend that disciplinary action be brought against Tarjanyi, alleging that Tarjanyi falsified documents, forged customer signatures, and misrepresented the terms of an insurance policy (the forgeries facilitated unauthorized withdrawals from customer funds), in violation of FINRA Rules.

Rodgers, Arkansas Financial Advisor Rhett Bedwell BARRED by FINRA

Published on: March 3, 2021 | by Iorio Altamirano

The Financial Industry Regulatory Authority (“FINRA”) has barred stockbroker Rhett Douglas Bedwell from the securities industry. Mr. Bedwell was expelled from the brokerage industry for refusing to cooperate with a FINRA investigation in whether Mr. Bedwell moved a client’s IRA to a different administrator and used forged documentation to invest the client’s money into a Ponzi Scheme.

Mr. Bedwell was a financial advisor with LPL Financial LLC (“LPL Financial”) in Rodgers, Arkansas, from November 2017 until his employment ended in August 2019. On September 9, 2020, LPL Financial disclosed that Mr. Bedwell had been identified in a pending customer arbitration alleging that in 2019, he moved a client’s IRA to a different administrator and used forged documentation to invest the client’s money into a Ponzi Scheme.

Before his employment with LPL Financial, Mr. Bedwell was a financial advisor at Arvest Wealth Management in Bentonville, Arkansas, from July 2015 until November 2017.

Broker Megurditch Mike Patatian, Formerly of Western International Securities, Inc. Facing Disciplinary Charges by FINRA for Recommending Unsuitable Illiquid REITs to 59 Customers, Including 21 Elderly Customers – Westlake Village, California

Published on: March 1, 2021 | by Iorio Altamirano

The Financial Industry Regulatory Authority’s Department of Enforcement has filed a disciplinary proceeding complaint against broker Megurditch Patatian (aka Mike Patatian) alleging that, while associated with Western International Securities, Inc., Mr. Patatian engaged in conduct in violation of FINRA rules, including:

making 81 unsuitable recommendations to purchase over $7.8 million in non-traded Real Estate Investment Trusts (REITs) to 59 customers, including 21 senior investors;
recommending illiquid non-traded REIT to six customers that also needed liquidity;

Great Nation Investment Corporation President and CEO, Bryon Pat Treat, BARRED by FINRA – Amarillo, Texas

Published on: March 1, 2021 | by Iorio Altamirano

FINRA has barred Great Nation Investment Corporation President, and CEO Bryon Pat Treat from the securities industry. Mr. Treat has been barred from associating with any FINRA member firm in any capacity because he refused to provide information and documents connected with FINRA’s investigation into whether he reasonably supervised the sale of illiquid “church bonds.”

Earlier this year, FINRA also barred financial advisor David A. Jenson from the securities industry for failing to cooperate with an investigation into whether Mr. Jenson recommended customers invest in an unsuitable concentration of church bonds. To read more about Mr. Jenson’s expulsion, please click here.

Great Nation Investment Corporation is an SEC-registered brokerage firm headquartered in Amarillo, Texas. The firm’s primary business activity is the offer and sale of church bonds.

Former LPL Financial Broker Bradley Allen Goodbred BARRED by FINRA – Roselle, IL

Published on: March 1, 2021 | by Iorio Altamirano

FINRA has barred former LPL stockbroker Bradley Allen Goodbred from the securities industry for refusing to respond to an information request issued pursuant to FINRA Rule 8210.

On February 1, 2021, LPL terminated Goodbred’s registration by filing a Form U5, stating that Goodbred had been terminated because he failed to disclose and obtain the firms’ approval to act as power of attorney for a customer, in violation of firm policy. LPL stated that as a power of attorney, Mr. Goodbred requested and facilitated distributions of funds from his customer’s outside advisory accounts and deposited the funds into the customer’s bank account. He then had the customer provide him with personal checks totaling $430,000. The checks were made payable to a real estate company representative owned and operated as an outside business activity. Goodbred and FINRA entered into a Letter of Acceptance, Waiver, and Consent (“AWC”) on February 16, 2021.

FINRA indicated that the matter originated from a tip received by FINRA staff on January 13, 2021.

Charleston, SC Financial Advisor Paul Halvorson, Formerly of Morgan Stanley, BARRED by FINRA

Published on: February 17, 2021 | by Iorio Altamirano

The Financial Industry Regulatory Authority (“FINRA”) has barred stockbroker Paul John Halvorson from the securities industry. FINRA expelled Mr. Halvorson 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 Morgan Stanley in November 2020.

Mr. Halvorson was a financial advisor at Morgan Stanley in Charleston, South Carolina, from June 2009 until his employment was terminated in November 2020. In connection with the discharge, Morgan Stanley alleged that Mr. Halvorson submitted transactions under production numbers that were inconsistent with an agreement that he had with another broker, resulting in a shortfall of revenue credited to the other broker.

If you have suffered financial losses investing with Paul Halvorson or suspect that Mr. Halvorson 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.

Somersworth, NH Financial Advisor Michael Francoeur, Formerly of Cambridge Investment Research, Inc, BARRED by FINRA

Published on: February 5, 2021 | by Iorio Altamirano

The Financial Industry Regulatory Authority (“FINRA”) has barred stockbroker Michael Paul Francoeur from the securities industry. FINRA expelled Mr. Francoeur from the brokerage industry because he refused to provide information and documents connected with FINRA’s investigation into his conduct after receiving a customer complaint.

Mr. Francoeur was a financial advisor at Cambridge Investment Research, Inc. in Somersworth, New Hampshire, from January 2012 until his employment was terminated in March 2020. Cambridge Investment Research fired Mr. Francoeur, alleging that he assisted a client with an investment that was not approved by the firm and that he used an unapproved email account, both against the firm’s policies.

If you have suffered financial losses investing with Michael Francoeur or suspect that Mr. Francoeur 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.

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.