RBC Capital Markets Settlement With FINRA Includes a Fine and Restitution RBC Capital Markets has reached an agreement with FINRA in which the broker-dealer will pay $1M to resolve allegations of overconcentration in customers’ accounts involving high-yield bonds. Without denying or admitting to the self-regulatory organization’s (SRO’s) findings, RBC consented…
New York Investment Advisor Has Several Customer Disputes on His BrokerCheck Record Brian Wurdemann, an RBC Capital Markets registered representative, is named in a still-pending customer dispute in which the customer is seeking $1M in damages. The claimant contends that Wurdemann misrepresented three mutual funds, first while he was a…
Connecticut Investment Advisor is Also Part of RBC Team Chu, Philipps, and Associates Joseph Ijong Chu, an RBC Capital Markets stockbroker, has been named in a number of customer disputes this year. Chu is also a registered investment advisor with the broker-dealer. He is part of the RBC team known…
The Financial Industry Regulatory Authority has barred three more former brokers in the wake of fraud allegations against them. Two of them were based in Texas. They are: Former Merrill Lynch broker Terrance Hood Ex-RBC Capital Markets broker Jonathan Freehill Former Signator Investors broker Dennis Ferwerda Ex-Merrill Lynch Broker Accused…
The Financial Industry Regulatory has barred a broker who worked at Merrill Lynch for almost half a century from the securities industry. Louise J. Neale left the broker-dealer and voluntarily ended her registration with the firm last year during an internal probe about her supervisory performance involving fund transactions. She…
David Hobson, an ex-Oppenheimer & Co (OPY) investment adviser, has pleaded guilty to the criminal charges of securities fraud and conspiracy to commit securities fraud. The 47-year-old Rhode Island broker admitted that he engaged in insider trading using information given to him by investment client Michael Maciocio in order to…