New York Broker Allegedly Cost Customers Six-Figure Losses, Trading Costs, and Commissions The Financial Industry Regulatory Authority (FINRA) has suspended Spartan Capital Securities financial advisor James Robert Pecoraro for nine months. FINRA ordered him to pay a $10K penalty and nearly $69K restitution for allegedly excessively unauthorized trading in customers’ accounts. The…
Elderly couple alleges unsuitability and concentration in risky speculative junk bonds Two San Francisco retirees have filed a $500k Financial Industry Regulatory Authority (FINRA) case against NI Advisors, its President Sui-hock Goy, and broker Shirley Ank Wong. Broker Ank Wong also operates locally as AK Advisors in Daly City, CA.…
Claimants file FINRA arbitration claim against National Securities Two Florida retirees have filed a Financial Industry Regulatory Authority (FINRA) arbitration claim against National Securities Corp. They seek up to six figures in damages for the losses they sustained in GWG Holdings L bonds. The risky, illiquid junk bonds were allegedly…
Claimants also name former LPL Financial brokers Edward Miller and Antonio Reyna Two investors were awarded $2.57m in their Financial Industry Regulatory Authority (FINRA) arbitration case against LPL Financial and Financial Resources Group. Also named as respondents but who were not ordered to pay damages are two former ex-LPL financial…
California investment advisor accused of best interest violations The Certified Financial Board has suspended Western International Securities financial advisor Patrick Michael Egan from using his CFP designation. The decision comes after the US Securities and the Exchange Commission (SEC) charged him, the broker-dealer, and four other Western International brokers with…
Former New Port Richey, FL broker is also accused of selling away Francis Joseph Velten, most recently an Ameriprise Financial Services broker, is now barred by the Financial Industry Regulatory Authority (FINRA). He’s accused of churning in older investors’ accounts and encouraging them to surrender their annuities and mutual fund…
Claimant files FINRA arbitration claim for up to six figures in damages A Houston, Texas investor has filed a Financial Industry Regulatory Authority (FINRA) arbitration claim against Centaurus Financial after he sustained losses in GWG Holdings L Bonds. These risky junk bonds were unsuitable for this inexperienced retail investor, yet…
Award Names The Top Investor Attorneys in The US Shepherd Smith Edwards and Kantas (SSEK Law Firm at investorlawyers.com) is pleased to announce that Senior Partners and Investor Attorneys Kirk G. Smith and Samuel B. Edwards have been named in the 2022 Lawdragon 500 Leading Plaintiff Financial Lawyers List. The…
Claimants File FINRA Arbitration Claim Against Centaurus Financial A Florida couple who suffered losses in GWG Holdings L bonds has filed a Financial Industry Regulatory Authority (FINRA) arbitration claim against Centaurus Financial. In the claim, they are seeking up to six figures in damages for their losses. The investors are…
Ex-Windsor, Georgia Investment Adviser Was Fired by Hamilton Investment Counsel and LPL The US Securities and Exchange Commission (SEC) has filed civil charges against Eric Shea Hollifield, a former LPL Financial broker and registered investment adviser with Hamilton Investment Counsel, LLC in Georgia. The regulator contends that he allegedly misappropriated…