According to FINRA Disciplinary actions for June 2024, the following individuals were suspended from FINRA for failing to comply with a FINRA arbitration award or settlement agreement pursuant to FINRA rules: NAME FORMER EMPLOYERS Gerald Cocuzzo Newbridge Securities Corporation IAA Financial LLC Kevin Hobbs PFS…
Securities Arbitration Lawyers Blog
FINRA Suspends Registered Individuals For Violations Of FINRA Rules June 2024
According to FINRA Disciplinary actions for June 2024, the following individuals were suspended from FINRA and cannot currently work for a FINRA brokerage firm for failing to provide FINRA with information it requested or to keep information current with FINRA pursuant to FINRA rules. However, these individuals remain bound by…
FINRA Bars Stockbrokers For Failing To Provide FINRA With Information June 2024
According to FINRA Disciplinary actions for June 2024, the following individuals were barred from FINRA and cannot currently work for a FINRA brokerage firm for failing to provide FINRA with information it requested or to keep information current with FINRA pursuant to FINRA rules: NAME FORMER EMPLOYERS James Brown…
Scott Silver Comments On SEC Decision On Lufkin Advisors
Silver Law Group’s managing partner Scott Silver was interviewed by Investment News for a news article about the SEC revoking the license of Lufkin Advisors of San Mateo, California. The license was revoked after its president and chief compliance officer, Chauncey Forbush Lufkin, III, was charged with fraudulent contact related…
SEC Warns Investors About Online Crypto Scams
The SEC recently released a new investor alert detailing ways that investors can be lured into new frauds involving crypto assets with both new and old techniques. Online scams are still the predominant method. But the addition of AI adds a false sense of believability that can make even tech-savvy…
FINRA Bars Broker Michael Archimede After Customer Loan
Michael Archimede (CRD# 5701306) is a former registered broker and investment advisor previously employed with PFS Investments Inc. (CRD# 10111) of Waukesha, WI He has been in the industry since 2010. On 11/9/2023, a customer filed a dispute alleging that Archimede borrowed money and failed to repay the loan, requesting…
Broker Joseph Beam Subject Of Six Customer Disputes Over GWG L-Bonds
Joseph Beam (Joseph Farrell Beam CRD# 5407778) is a former registered broker and investment advisor last employed with Capital Investment Group, Inc. (CRD# 14752) of Flat Rock, NC. His previous employment was with Suntrust Investment Services, Inc. (CRD# 17499) of Hendersonville, NC. No additional employment information is available. He began…
Scott Silver Speaks to Investment News About Broker-Dealer Bankruptcy
Silver Law Group’s founder, attorney Scott Silver, recently spoke with Investment News about two brokers who filed for bankruptcy after a FINRA arbitration awarded money to one of their former clients. “Another schlocky broker-dealer gets hit with an arbitration award and the owner and everyone else declare bankruptcy,” Mr. Silver…
Broker Patrick Mendenhall Subject of Two Disputes Totaling $8M
Patrick Mendenhall (Patrick Michael Mendenhall CRD# 1068809) is a registered broker and investment advisor currently registered with USCA Securities LLC (CRD# 103789) of Houston, TX. His previous employers include USCA RIA LLC (CRD# 152170) and UBS Financial Services Inc. (CRD# 8174), also of Houston, and Smith Barney, Harris Upham &…
Scott Silver Speaks After Nonprofit Wins $7.3M Arbitration Against Principal Securities
The Rosenau Family Research Foundation, a nonprofit that funds medical research, has alleged that Principal Securities engaged in misuse of variable annuities, as well as churning and selling away while handling the Foundation’s investments. In an interview with Investment News, Silver Law Group’s managing partner Scott Silver stated, “There’s a…