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Failure to disclose criminal charges results in $5,000 fine and suspension During a 15-year career in the securities industry, Miami-based broker Mikell Simmons has seen a total of six disclosure events on his official record, the most recent of which includes a one-month suspension and a $5,000 fine. According to…

Broker failed to respond to FINRA information requests after allegations of excessive trading in numerous customer accounts After 19 years in the securities industry, Antonio Costanzo has received a permanent bar from FINRA from acting in the capacity of a broker or other financial adviser, according to the FINRA website.…

Throughout history, promises of high returns and low risk have lured investors to financial peril If they only used their brilliance for good and not evil, what a better world we all might live in. Unfortunately, the brilliant businessmen behind some of the most famous Ponzi schemes, both in the…

Quigley and his two brothers are accused of running a fraudulent offering scheme After a 24-year career in the securities industry checkered with allegations of misconduct and unauthorized trading, broker William Quigley has not only been barred permanently by FINRA, he also faces fraud charges brought by the SEC. According…

It’s time to start looking beyond low commissions Maybe you’re a new investor. Maybe you’re looking for a new broker after getting burned. Either way, you’re entitled to know a few things about the person you’ll trust to act as the guiding intermediary between you and securities traded on the…

FINRA did not impose a fine though Borger failed to report outside accounts After 43 years in the securities industry, Samuel Jacob Borger was hit with a two-month suspension from FINRA on May 29 following allegations that he failed to inform his employing firm of outside accounts over which he…

Torres allegedly convinced a client to go into business with him, converted at least $59,600 for his personal use After five years in the securities industry, Alejandro Ariel Torres has been permanently barred by FINRA on May 11, 2015 following allegations of converting customer money for his personal use. Most…

The firm accepted sanctions including $50,000 fine Oriental Financial Services was recently fined in the conclusion of a FINRA investigation alleging that the corporation withheld documents and information regarding a 2011 customer dispute in FINRA arbitration. Based in Puerto Rico, OFS also works for investors in Florida, Washington, D.C., New…

Good news for other investors who have suffered losses in Puerto Rico investments For the tens of thousands of ordinary investors who have suffered losses due to the financial crisis in Puerto Rico, there is hope. According to an online article on The Wall Street Journal, Financial Industry Regulatory Authority…

Ledoux failed to report six liens between 2004 and 2012 Boca Raton broker David J. Ledoux faced a suspension and fine in June after allegations that he failed to file an updated Form U4 to reflect six liens in a timely manner, according to FINRA. Ledoux, who has been employed…