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The company’s Chief Compliance Officer and President may be implicated in the case Scottsdale Capital Advisors, an Arizona brokerage firm established in 2001, is pending disciplinary action by FINRA after allegations of inappropriate business conduct by a client, the firm’s compliance officer and the then-president of the firm. In May,…

Alleged damages are estimated to be at least $499,000 According to FINRA, in April 2015, Richard Gomez, currently registered with Avenir Financial Group, was named as a respondent to a complaint regarding a fraudulent foreign company called Praetorian whose shares he sold to investors, allegedly causing nearly $500,000 in financial…

Allegations include sales of millions of unregistered stock shares John Hurry, a broker investment adviser who has been in the securities industry for 20 years, is pending disciplinary review by FINRA following allegations of his involvement with the illicit sale of more than 74 million unregistered shares through Arizona-based firm…

Appealed suspension, but did not cooperate with FINRA investigation According to the FINRA website, Dalyne L. Shinneman has been barred from the securities industries following a career riddled with disclosures and disputes. A broker since 1989, Shinneman was most recently employed by Ridgeway & Conger, Inc., before facing suspension in…

Customer disputes led to his discharge from last employer According to the FINRA BrokerCheck website, Scott Frederick Matthews, a financial adviser for 22 years, led a relatively quiet career before a string of several customer disputes in the past two years. Prior to June 2013, Matthews had been involved in…

King allegedly concealed loans from the firm, among other violations Fort Lauderdale-based broker Sylvester King, Jr. found himself in hot water with FINRA in April 2015, according to the BrokerCheck website. So much so that he resigned from his most recent employer, Wells Fargo Advisors, LLC the same day he…

Affiliates allegedly defrauded traditional bond investors Following allegations and an investigation by the Securities and Exchange Commission (SEC), two Citigroup affiliates have agreed to pay nearly $180 million to settle charges that they defrauded investors in two hedge funds. The firms are accused of claiming the hedge funds in question…

FINRA also orders cease and desist after failure to abide by Massachusetts state regulation on senior financial designations FINRA fined LPL Financial LLC a total of $250,000 on July 10 after allegations that the firm failed to establish or enforce supervisory procedures that complied with Massachusetts’ regulations. The regulations in…

Failed to follow Securities Act requirements Lake Worth, Florida-based 1st Discount Brokerage, Inc along with Naples, Florida-based Alan Miller and Overland Park, Kansas-based Mark Miller are all players in a FINRA disciplinary action, according to the June 2015 FINRA Disciplinary Action Report. Both Alan Miller and Mark Miller consented to…

Patrick McGrath and Aaron Parthemer: Separate FINRA complaints for similar violations In two separate FINRA disciplinary actions, two South Florida investment brokers were found to have made loans to, or borrowed funds from, their firm’s customers without permission. Generally, brokerage firms prohibit stockbrokers from asking clients for personal loans or…