Brokerage Firm Allegedly Pursued Commissions over Customers’ Best Interests Three Illinois retirees have filed a Financial Industry Regulatory Authority (FINRA) arbitration claim against Moloney Securities, pursuing up to six figures in damages for bond losses sustained in GWG Holdings L Bonds. The two brokers, Shane Michael DeSherlia and Dale Erbin…
Ex-New York Financial Advisor Was Barred by FINRA in 2014 Nearly seven years after he was barred by the Financial Industry Regulatory Authority and fired by Ameriprise Financial Services, ex-New York broker Ted Wayne Cadwallader continues to be accused of making unsuitable investment recommendations that caused them significant losses. Shepherd…
Ohio National Financial Services Broker-Dealer Accused of Failing to Properly Supervise The Financial Industry Regulatory Authority (FINRA) announced that brokerage firm O.N. Equity Sales Co., an Ohio National Financial Services brokerage firm, must pay a $1.3M penalty for not adequately supervising a former broker who is accused of recommending an…
SEC’s Regulation BI May Not Be Protecting Investors The Way They Think It has been nearly seven months since the SEC’s Regulation Best Interest (BI), a rule mandating that brokers NOT market themselves as financial advisors unless they actually are dually registered to be one, went into effect. The aim…
New York Stockbroker is Named in Multiple Customer Disputes If you suffered substantial losses from investments recommended to you by Spartan Capital Securities broker Joseph Kelly, you may have grounds for filing a Financial Industry Regulatory Authority (FINRA) arbitration claim to recover your losses. Kelly, who is based in New…
Scottsdale, Arizona Investment Advisor Was Fired By Broker-Dealer Coastal Securities Luke Michael Johnson, currently Managing Director for Prime Capital Investment Advisors in Paradise Valley in the Scottsdale area, is named in over a dozen pending disputes by investors seeking damages for losses they allegedly suffered while working with him. Johnson…
Stockbroker Marshall Owen Isaacson Named in Four Customer Complaints Since 2019 The Financial Industry Regulatory Authority (FINRA) recently barred Marshall Owen Isaacson, an ex- Newbridge Securities stockbroker based out of Boca Raton, Florida. Isaacson is accused by customers of making unsuitable investment recommendations and committing broker negligence. With 35 years…
FINRA Suspends Waco, Texas Broker For 18 Months Two investors have filed Financial Industry Regulatory Authority (FINRA) arbitration complaints against Michael Allen Kamperman, who was most recently a former HD Vest Investment Services registered representative. Both customers are accusing him of making unsuitable and excessive trades on their behalf. Kamperman,…