The New Jersey Bureau of Securities has revoked the registration license of First Standard Financial Company, a broker-dealer based in Red Bank, NJ. The move comes in the wake of allegations that First Standard and its representatives engaged in improper short-term trading, causing them to illegally make over $28.7M in…
Morgan Stanley Ordered To Pay Over $300K In Fines And Restitution Secretary of the Commonwealth of Massachusetts, William Galvin, is ordering Morgan Stanley (MS) to pay a $200K fine, as well as $182K in restitution to four customers who suffered losses while working with former broker Justin E. Amaral. The…
Cetera Advisors Fraud Case Rises To $21M Two months after suing Cetera Advisors for more than $10M for allegedly defrauding retail clients, the US Securities and Exchange Commission (SEC) has amended its complaint, adding another Cetera Financial Group firm as a defendant. The regulator is now seeking $21M. According to…
SSEK Investigating Ex-Raymond James Advisor, Stuart Nichols Another former Raymond James advisor has gotten into trouble over fraud allegations. The Financial Industry Regulatory Authority (FINRA) recently barred Stuart Nichols, a former broker with the firm, after he failed to participate in the self-regulatory authority’s probe into churning allegations made against…
Financial Industry Regulatory Authority (FINRA) has fined former Texas broker Steven Yellen $25K for allegedly making unauthorized trades while he was a registered representative for both Ameriprise (AMP) and Morgan Stanley (MS). The self-regulatory authority (SRO) notes at least 30 instances in which Yellen executed trades without customer authorization. After…
Shepherd, Smith, Edwards & Kantas (“SSEK”), a law firm specializing in representing wronged investors, is looking into allegations against Financial West Group and its broker Daniel Gordon Maughan. It is alleged that Maughan excessively traded and churned a client’s Trust Account at his member firm. A arbitration complaint has already…
Former Raymond James (RJF) broker John Charles Wyshak is under scrutiny by our investor lawyers at SSEK Law Firm. If you are someone who previously worked with Wyshak as your financial representative while he was registered with Raymond James or any other broker-dealer, and you suffered substantial losses, your first…
SSEK Investigating Stephen Klinger, ex-Wells Fargo Advisor Shepherd, Smith, Edwards & Kantas (“SSEK”), a law firm specializing in representing wronged investors, is looking into allegations against ex-broker Stephen Klinger for trading options for a client in his own account. He then proceeded to lose the client’s money. Klinger was fired…
SSEK Investigating David Fagenson, A Former UBS Brokerage Investment Advisor If you are an investor who worked with former UBS broker, David Fagenson, and suffered substantial losses or suspect you may have been charged excessive fees and commissions, please contact our broker fraud lawyers at Shepherd Smith Edwards and Kantas,…
SSEK Investigates Richard Cagle If you are an investor who suffered losses while working with former Hilltop Securities Independent Network broker Richard Earl Cagle, please contact our broker fraud lawyers at Shepherd Smith Edwards and Kantas, LLP (SSEK Law Firm) today. With 28 years in the industry, Cagle, who was…